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REGISTERED NUMBER: 05387790 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

HEDON CARPETS & BEDS LIMITED

HEDON CARPETS & BEDS LIMITED (REGISTERED NUMBER: 05387790)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HEDON CARPETS & BEDS LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: N Jowsey
M Jowsey





REGISTERED OFFICE: 14 Market Place
Hedon
Hull
HU12 8JA





REGISTERED NUMBER: 05387790 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

HEDON CARPETS & BEDS LIMITED (REGISTERED NUMBER: 05387790)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,774 3,705
1,774 3,705

CURRENT ASSETS
Stocks 6,000 5,500
Debtors 6 29,812 25,626
Cash at bank and in hand 29,090 33,064
64,902 64,190
CREDITORS
Amounts falling due within one year 7 46,536 48,010
NET CURRENT ASSETS 18,366 16,180
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,140

19,885

CREDITORS
Amounts falling due after more than one year 8 (13,000 ) (19,000 )

PROVISIONS FOR LIABILITIES - (704 )
NET ASSETS 7,140 181

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 7,138 179
SHAREHOLDERS' FUNDS 7,140 181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

HEDON CARPETS & BEDS LIMITED (REGISTERED NUMBER: 05387790)

BALANCE SHEET - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 January 2024 and were signed on its behalf by:




N Jowsey - Director



M Jowsey - Director


HEDON CARPETS & BEDS LIMITED (REGISTERED NUMBER: 05387790)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Hedon Carpets & Beds Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principle place of business at 14 Market Place, Hedon, Hull, HU12 8JA.

The principal activity of the company is a carpet and bed retailer.

The presentation currency of the financial statements is Pound Sterling (£).

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts. Turnover is recognised at point of sale.

Turnover from the sale of goods is recognised at the point of sale.

Sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 20% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is calculated on the first in first out basis.

HEDON CARPETS & BEDS LIMITED (REGISTERED NUMBER: 05387790)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

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

Taxation
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 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 12,000
AMORTISATION
At 1 April 2022
and 31 March 2023 12,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

HEDON CARPETS & BEDS LIMITED (REGISTERED NUMBER: 05387790)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 34,397
DEPRECIATION
At 1 April 2022 30,692
Charge for year 1,931
At 31 March 2023 32,623
NET BOOK VALUE
At 31 March 2023 1,774
At 31 March 2022 3,705

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 8,996
DEPRECIATION
At 1 April 2022 5,548
Charge for year 1,799
At 31 March 2023 7,347
NET BOOK VALUE
At 31 March 2023 1,649
At 31 March 2022 3,448

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 580 2,380
Other debtors 29,232 23,246
29,812 25,626

HEDON CARPETS & BEDS LIMITED (REGISTERED NUMBER: 05387790)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,000 6,000
Trade creditors 17,760 15,580
Taxation and social security 20,590 24,438
Other creditors 2,186 1,992
46,536 48,010

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 13,000 19,000

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 10,800 10,800

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other debtors are loans made to the directors outstanding at the year end totalling £19,041 (2022: £14,394).

Dividends paid to director/shareholders amounts to £40,000.

11. ULTIMATE CONTROLLING PARTY

The company is under the control of its directors because they own 100% of the share capital.