Tilly Sveaas Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 11766634

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		6,797		11,791

			6,797		11,791
CURRENT ASSETS
Stocks	6	627,119		288,489
Debtors	7	782,245		567,852
Cash at bank and in hand		2,501,901		1,726,773

		3,911,265		2,583,114
Creditors: Amounts Falling Due Within One Year	8	(1,200,787 )		(948,033 )

NET CURRENT ASSETS (LIABILITIES)			2,710,478		1,635,081

TOTAL ASSETS LESS CURRENT LIABILITIES			2,717,275		1,646,872

NET ASSETS			2,717,275		1,646,872

CAPITAL AND RESERVES
Called up share capital	9		1		1
Profit and Loss Account			2,717,274		1,646,871

SHAREHOLDERS' FUNDS			2,717,275		1,646,872

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Tilly Sveaas Limited

Balance Sheet (continued)

As At 31 January 2026

For the year ending 31 January 2026 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 her 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

M Backhouse

Director

27 October 2026

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Tilly Sveaas Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11766634 . The registered office is Fairbank Studios, 75-81 Burnaby Street, London, SW10 0NS.

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. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	20% straight line
Office Equipment	25% straight line

2.5. Leasing and Hire Purchase Contracts

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2.6. 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.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Tilly Sveaas Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.8. Pensions

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.9. Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

2.10. Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2025: 4)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 February 2025	11,000

As at 31 January 2026	11,000

Amortisation
As at 1 February 2025	11,000

As at 31 January 2026	11,000

Net Book Value
As at 31 January 2026	-

As at 1 February 2025	-

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Tilly Sveaas Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

5. Tangible Assets

	Fixtures & Fittings	Office Equipment	Total
	£	£	£
Cost
As at 1 February 2025	1,851	33,061	34,912
Additions	139	2,337	2,476
Disposals	-	(6,008 )	(6,008 )

As at 31 January 2026	1,990	29,390	31,380

Depreciation
As at 1 February 2025	1,199	21,922	23,121
Provided during the period	389	5,226	5,615
Disposals	-	(4,153 )	(4,153 )

As at 31 January 2026	1,588	22,995	24,583

Net Book Value
As at 31 January 2026	402	6,395	6,797

As at 1 February 2025	652	11,139	11,791

6. Stocks

	2026	2025
	£	£
Stock	627,119	288,489

7. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	7,640	52,714
Other debtors	774,605	515,138

	782,245	567,852

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	134,388	73,634
Other creditors	216,577	171,610
Taxation and social security	849,822	702,789

	1,200,787	948,033

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	1	1

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Tilly Sveaas Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	53,072	38,487
Later than one year and not later than five years	5,250	32,072

	58,322	70,559

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