World Book Day is just around the corner, with the annual literary celebration this year falling on Thursday March 3.

And although it can be every parent's worst nightmare as it means making yet ANOTHER costume for school, children love celebrating their favourite fictional characters and beloved books.

And to help you along the way, we have everything you need to know here about the annual celebration, including some tips for kitting out your little one.

What's it all about?

It's a day when schoolchildren all over the world celebrate books by dressing up as their favourite characters. It celebrates the joy and value of books and reading, especially for children.

Usually, schools let children wear anything they want to, as long as they represent a character from a book. From Harry Potter to Peppa Pig to Hetty Feather, anything goes.

But what if I'm hopeless at making costumes?

Buy them. Cheat. Borrow. Or get granny to do it - but don't stress.

Many of the high street stores like Tesco, Asda, Aldi or Home Bargains sell fancy dress costumes suitable for keen readers or there are plenty of no-sew ideas that will be every parent's saviour.

This Red Riding Hood outfit and pirate fancy dress are just £3.99 from Aldi.

Children can dress up as their favourite literary characters

But where do I start?

They key is to see it through their eyes. Remember, you aren't doing a GCSE in costume design, you're helping your child have a bit of fun by celebrating books.

Here are some ideas to get you started.

Goldilocks: Get some yellow wool and make two very long plaits by cutting about 20 pieces of wool very long and dividing into two, then plaiting by tying each with a bobble at the top. Tie the bottom of each plait with a bobble and a ribbon. Attach to your child's own hair or a white maid-style hat. Have your child wear a blue dress, white socks and some traditional T-bar shoes.

The Very Hungry Caterpillar: Get your child to wear green leggings and a green T-shirt. Stuff pairs of green tights, and attach them down the back of their T-shirt and leggings, to represent caterpillar legs. Attach antennae onto a headband. Draw pictures of different foodstuffs, make a hole through them with a hole punch and hang them on a ribbon for your child to wear.

Rainbow Fairy: Start off with a dressing-up fairy costume - if you don't have one, ask around. Then, top this off with a wand and some wings, which can usually be picked up from your nearest pound shop.

Mr Twit: Make a 'revolting' beard with brown wool of various lengths knotted onto elastic that can fasten around your child's head so they become the Roald Dahl character. Get your child to draw different food onto paper, cut them out and stick them onto the beard.

They need to look dirty and dishevelled, so have them wear old clothes with splodges of brown paint that looks like dirt. You can even paint their finger and toenails yellow, and get them to wear sandals!

What else do the kids get on World Book Day?

More than 14 million £1 World Book Day tokens will be handed out to children (that's almost one for every child/parents under 18 in the UK and Ireland).

When you get it, all you need to do it take it to your local bookshop and swap it for one of 10 exclusive, new and completely free £1 World Book Day books, which include Kipper's Visitor for little ones, Roald Dahl's The Great Mouse Plot, Star Wars: Adventures in Wild Space and Juno Dawson's Spot the Difference.

Check out our brilliant photos from World Book Day 2015!