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REGISTERED NUMBER: 06779636 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

TERRYS BED CENTRE LTD

TERRYS BED CENTRE LTD (REGISTERED NUMBER: 06779636)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TERRYS BED CENTRE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Ms J Williams





REGISTERED OFFICE: 42-44 Queens Road
Nuneaton
CV11 5JX





REGISTERED NUMBER: 06779636 (England and Wales)





ACCOUNTANTS: Armstrongs Bishop Simmons
Chartered Accountants and Tax Advisors
Gethin House
36 Bond Street
Nuneaton
Warwickshire
CV11 4DA

TERRYS BED CENTRE LTD (REGISTERED NUMBER: 06779636)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 157,186 158,291

CURRENT ASSETS
Stocks 16,771 12,476
Debtors 5 6,731 7,056
Cash in hand 9 10
23,511 19,542
CREDITORS
Amounts falling due within one year 6 51,111 42,196
NET CURRENT LIABILITIES (27,600 ) (22,654 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

129,586

135,637

CREDITORS
Amounts falling due after more than one
year

7

(154,912

)

(141,373

)

PROVISIONS FOR LIABILITIES (759 ) (759 )
NET LIABILITIES (26,085 ) (6,495 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (26,185 ) (6,595 )
(26,085 ) (6,495 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

TERRYS BED CENTRE LTD (REGISTERED NUMBER: 06779636)

BALANCE SHEET - continued
31 MARCH 2024


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 director and authorised for issue on 31 July 2024 and were signed by:





Ms J Williams - Director


TERRYS BED CENTRE LTD (REGISTERED NUMBER: 06779636)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Terrys Bed Centre Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% on reducing balance

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 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.

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.

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

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.

TERRYS BED CENTRE LTD (REGISTERED NUMBER: 06779636)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 151,041 33,581 1,556 186,178
DEPRECIATION
At 1 April 2023 - 26,674 1,213 27,887
Charge for year - 1,036 69 1,105
At 31 March 2024 - 27,710 1,282 28,992
NET BOOK VALUE
At 31 March 2024 151,041 5,871 274 157,186
At 31 March 2023 151,041 6,907 343 158,291

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,012 1,279
Other debtors 4,719 5,777
6,731 7,056

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 15,541 13,674
Trade creditors 7,403 9,977
Taxation and social security 3,107 6,071
Other creditors 25,060 12,474
51,111 42,196

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 154,912 141,373

TERRYS BED CENTRE LTD (REGISTERED NUMBER: 06779636)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 118,184 118,589
Other loans more 5yr by instal 3,964 -
122,148 118,589

8. RELATED PARTY DISCLOSURES

During the year under review the company shared premises with Joco Interiors Limited. Costs have been apportioned between the two companies based on space usage of the building.
Joco Interiors Limited is a related party by virtue of mutual shareholdings.