Lilliput House Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06318567 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

LILLIPUT HOUSE LIMITED

Page

Report of the Directors

1

Balance Sheet

2

Notes to the Financial Statements

4

The directors present their report with the financial statements of the company for the year ended 30 November 2018.

DIRECTORS

The directors who have held office during the period from 1 December 2017 to the date of this report are as follows:

A S Cohen - appointed 23 July 2018

G Rokach - appointed 23 July 2018

D Reich - appointed 23 July 2018

M Edney - resigned 23 July 2018

Mrs L Edney - resigned 23 July 2018

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to

small companies.

ON BEHALF OF THE BOARD:

G Rokach - Director

29 November 2019

FIXED ASSETS

Intangible assets

4

1,488,000

1,674,000

Tangible assets

5

4,171,619

4,251,462

5,659,619

5,925,462

CURRENT ASSETS

Stocks

6

3,908

2,500

Debtors

7

76,702

302,608

Cash at bank and in hand

105,958

622,314

186,568

927,422

CREDITORS

Amounts falling due within one year

8

2,446,657

353,024

NET CURRENT (LIABILITIES)/ASSETS

(2,260,089

)

574,398

TOTAL ASSETS LESS CURRENT LIABILITIES

3,399,530

6,499,860

CREDITORS

Amounts falling due after more than one year

9

-

(3,115,132

)

PROVISIONS FOR LIABILITIES

11

(17,808

)

(21,666

)

NET ASSETS

3,381,722

3,363,062

CAPITAL AND RESERVES

Called up share capital

3,009,940

3,009,940

Retained earnings

12

371,782

353,122

3,381,722

3,363,062

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 29 November 2019 and were signed on its behalf by:

D Reich - Director

G Rokach - Director

1.	STATUTORY INFORMATION

Lilliput House Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address are as below:

Registered number:

06318567

Registered office:

5 Spring Villa Road

Edgware

Middlesex

HA8 7EB

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Fixtures and fittings

-

20% on reducing balance

Freehold land is not depreciated.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2017 - 47 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2017

and 30 November 2018

1,860,000

AMORTISATION

At 1 December 2017

186,000

Amortisation for year

186,000

At 30 November 2018

372,000

NET BOOK VALUE

At 30 November 2018

1,488,000

At 30 November 2017

1,674,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 December 2017

4,070,000

277,702

4,347,702

Additions

-

6,446

6,446

At 30 November 2018

4,070,000

284,148

4,354,148

DEPRECIATION

At 1 December 2017

40,700

55,540

96,240

Charge for year

40,700

45,589

86,289

At 30 November 2018

81,400

101,129

182,529

NET BOOK VALUE

At 30 November 2018

3,988,600

183,019

4,171,619

At 30 November 2017

4,029,300

222,162

4,251,462

Included in cost of land and buildings is freehold land of £ 2,035,000 (2017 - £ 2,035,000 ) which is not

depreciated.

6.

STOCKS

30.11.18

30.11.17

£

£

Stocks

3,908

2,500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Trade debtors

19,984

21,441

Other debtors

52,500

-

Directors' current accounts

-

276,125

Prepayments

4,218

5,042

76,702

302,608

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Bank loans and overdrafts (see note 10)

-

65,025

Trade creditors

46,499

40,445

Amounts owed to participating interests

2,141,757

-

Tax

202,753

128,428

Social security and other

taxes

10,080

8,602

Accruals and deferred income

10,148

63,850

Other creditors and

accrued expenses

35,420

46,674

2,446,657

353,024

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.18

30.11.17

£

£

Bank loans (see note 10)

-

3,115,132

10.

LOANS

An analysis of the maturity of loans is given below:

30.11.18

30.11.17

£

£

Amounts falling due within one year or on demand:

Bank loans

-

65,025

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

3,115,132

11.	PROVISIONS FOR LIABILITIES

30.11.18

30.11.17

£

£

Deferred tax

Accelerated capital allowances

17,808

21,666

Deferred

tax

£

Balance at 1 December 2017

21,666

Provided during year

(3,858

)

Balance at 30 November 2018

17,808

12.

RESERVES

Retained

earnings

£

At 1 December 2017

353,122

Profit for the year

168,660

Dividends

(150,000

)

At 30 November 2018

371,782

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2018 and

30 November 2017:

30.11.18

30.11.17

£

£

Mrs L Edney

Balance outstanding at start of year

138,063

-

Amounts advanced

-

138,063

Amounts repaid

(138,063

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

138,063

M Edney

Balance outstanding at start of year

138,062

-

Amounts advanced

-

138,062

Amounts repaid

(138,062

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

138,062

14.	RELATED PARTY DISCLOSURES

The controlling party is Lilliput House Holdings Limited.

There is a cross guarantee and debenture against bank indebtedness of the holding company Lilliput House

Holdings Limited, in addition to a first legal charge over the freehold property of Lilliput House Limited.