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Registered number: 01664000









BEDTIME KENT LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
BEDTIME KENT LIMITED
REGISTERED NUMBER: 01664000

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
29,553
24,700

Current assets
  

Stocks
 6 
507,648
478,859

Debtors: amounts falling due within one year
 7 
131,553
171,000

Cash at bank and in hand
 8 
112,658
388,165

  
751,859
1,038,024

Creditors: amounts falling due within one year
 9 
(555,419)
(682,432)

Net current assets
  
 
 
196,440
 
 
355,592

Total assets less current liabilities
  
225,993
380,292

Creditors: amounts falling due after more than one year
 10 
(89,285)
(125,368)

Provisions for liabilities
  

Deferred tax
  
(2,502)
(559)

Net assets
  
134,206
254,365


Capital and reserves
  

Called up share capital 
 12 
113,079
113,079

Other reserves
  
188
188

Profit and loss account
  
20,939
141,098

  
134,206
254,365


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf  

M Bennett Esq
Director

Date: 12 March 2024

The notes on pages 2 to 10 form part of these financial statements.
Page 1

 
BEDTIME KENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Bedtime Kent Limited is a private company limited by shares and incorporated in the England and Wales.The address of the registered office is as follows:
Charles Lake House
Claire Causeway
Crossways Business Park
Dartford
Kent
DA2 6QA
The company's principal activity during the year was that of a furniture retailer.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Page 2

 
BEDTIME KENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

 
BEDTIME KENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives on the following base.


Leasehold improvements
-
10% reducing balance
Short-term leasehold land and
buildings
-
Over the term of the lease
Fixtures and fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
BEDTIME KENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are charged as an expense to profit or loss.

 
2.15

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

a) key accounting estimate and assumptions:
The company made key assumptions regarding accruals and prepayments and are material these accounts.
The company makes key accounting estimates in regard to its stock valuation


4.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 11).

Page 5

 
BEDTIME KENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Land and buildings
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2022
277,461
128,749
406,210


Additions
-
10,053
10,053



At 31 March 2023

277,461
138,802
416,263



Depreciation


At 1 April 2022
255,743
125,767
381,510


Charge for the year on owned assets
2,172
3,028
5,200



At 31 March 2023

257,915
128,795
386,710



Net book value



At 31 March 2023
19,546
10,007
29,553



At 31 March 2022
21,718
2,982
24,700


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
507,648
478,859

507,648
478,859



7.


Debtors

2023
2022
£
£


Trade debtors
13,413
26,153

Other debtors
86,827
75,983

Prepayments and accrued income
31,313
68,864

131,553
171,000


Page 6

 
BEDTIME KENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
112,658
388,165

112,658
388,165



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
33,063
31,652

Trade creditors
442,169
600,292

Corporation tax
16,238
13,292

Other taxation and social security
16,816
15,885

Other creditors
4,959
1,400

Accruals and deferred income
42,174
19,911

555,419
682,432



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
89,285
125,368

89,285
125,368


Page 7

 
BEDTIME KENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
33,063
31,652


Amounts falling due 2-5 years

Bank loans
89,285
125,368


122,348
157,020


Bank loans amounting to £122,349 (2022: £157,020) are secured by a fixed charge over the assets of the
comapny.

Page 8

 
BEDTIME KENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



92,550 (2022 - 92,550) Ordinary 'A' shares of £1.00 each
92,550
92,550
7 (2022 - 7) Ordinary  'B' shares of £1.00 each
7
7
10 (2022 - 10) Ordinary  'C' shares of £1.00 each
10
10
5,000 (2022 - 5,000) Ordinary 'D' shares of £1.00 each
5,000
5,000
15,512 (2022 - 15,512) Ordinary 'E' shares of £1.00 each
15,512
15,512

113,079

113,079

Ordinary 'B' and Ordinary 'C' shares have no voting rights nor do they have any rights to dividends other than those that may be recommended by the directors. Rights conferred on these classes of share on winding up are limited to £10 per share.



13.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in independently administered funds. Contributions totalling £1,230 (2022: £1,400) were payable at the balance sheet date and are included in other creditors.


14.


Commitments under operating leases

At 31 March 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
27,940
27,940

Later than 1 year and not later than 5 years
58,208
86,148

86,148
114,088


15.


Related party transactions

At the year end, the company had an outstanding balance owed by directors, amounting to £80,754 (2022: £75,983). This balance has been disclosed within other debtors and has been repaid subsequent to the year end.
The directors have an interest in dividends paid in the year of £94,000 
(2022: £94,000).

Page 9

 
BEDTIME KENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

16.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2023 was unqualified.

The audit report was signed on 12 March 2024 by Mario Cientanni (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 10