LIL MILAN LTD

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: 14081895

		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Stocks	4	-		8,092
Debtors	5	-		4,944
Cash at bank and in hand		1,843		3,900

		1,843		16,936
Creditors: Amounts Falling Due Within One Year	6	(97,844 )		(99,658 )

NET CURRENT ASSETS (LIABILITIES)			(96,001 )		(82,722 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(96,001 )		(82,722 )

NET LIABILITIES			(96,001 )		(82,722 )

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			(96,101 )		(82,822 )

SHAREHOLDERS' FUNDS			(96,001)		(82,722)

For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Filippo VARETTA

Director

24/06/2026

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

LIL MILAN LTD is a private company, limited by shares, incorporated in England & Wales, registered number 14081895 . The registered office is 10, Dunelm Street, London, E1 0QQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: NIL)

4. Stocks

	2025	2024
	£	£
Finished goods	-	8,092

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LIL MILAN LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Debtors

	2025	2024
	£	£
Due within one year
Prepayments and accrued income	-	4,753
VAT	-	191

	-	4,944

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	25,985	44,776
VAT	643	-
SH Loan account - FIRGUN HOUS	64,706	54,084
Director's loan account	6,510	798

	97,844	99,658

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

8. Directors Advances, Credits and Guarantees

Included within Creditors are the following loans to directors:

	As at 1 January 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2025
	£	£	£	£	£
Mr Filippo VARETTA	798	5,712	-	-	6,510

The above loan is unsecured, interest free and repayable on demand.

9. Related Party Transactions

FIRGUN HOUSE S.R.L. is 100% holding company of Lil Milan Ltd.

During the year company has purchased goods from the parent company amounting to £ 7,103 (2024: £ 24,822) and outstanding balance of creditors as on 31.12.2025 is £25,746 (2024: £ 33,184), which is included in the creditors of the note no.6 above.

During the year, company has taken a loan from the parent company amounting to £10,622 (2024: loan repaid of £6,462) and the closing balance as on 31.12.2025 is £ 64,706 (2024: £ 54,084), which is included in the creditors of the note no. 6 above.

10. Ultimate Controlling Party

The company's ultimate controlling party are Ms Paola Conversano by virtue of her ownership of more than 25% but less than 50% of the issued share capital in the company and Ms Veronica Varetta by virtue of her ownership of more than 50% but not more than 75% of the issued share capital in the company.

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