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Reports Dated : 09/08/2024 Registered Number: 14082969
England and Wales

 

 

 

EXCEL SLEEP BEDS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 36,980    14,100 
36,980    14,100 
Current assets      
Stocks 4 103,118    93,268 
Debtors 5 53,752   
Cash at bank and in hand 18,414    6,619 
175,284    99,887 
Creditors: amount falling due within one year 6 (209,157)   (129,356)
Net current assets (33,873)   (29,469)
 
Total assets less current liabilities 3,107    (15,369)
Net assets 3,107    (15,369)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 3,007    (15,469)
Shareholders' funds 3,107    (15,369)
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 02 August 2024 and were signed on its behalf by:


-------------------------------
M Z Butt
Director
-------------------------------
S Khan
Director
-------------------------------
B Shahzad
Director
1
General Information
Excel Sleep Beds Limited is a private company, limited by shares, registered in England and Wales, registration number 14082969, registration address Unit 1, 21 Albion Road, Birmingham, B11 2NR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods manufactured by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10 years Straight Line
Motor Vehicles 5 years Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 7 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 June 2023 11,000    5,250    16,250 
Additions 25,000    18,100    43,100 
Disposals (11,000)   (5,250)   (16,250)
At 31 May 2024 25,000    18,100    43,100 
Depreciation
At 01 June 2023 1,100    1,050    2,150 
Charge for year 2,500    3,620    6,120 
On disposals (1,100)   (1,050)   (2,150)
At 31 May 2024 2,500    3,620    6,120 
Net book values
Closing balance as at 31 May 2024 22,500    14,480    36,980 
Opening balance as at 01 June 2023 9,900    4,200    14,100 


4.

Stocks

2024
£
  2023
£
Stocks 103,118    93,268 
103,118    93,268 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 47,636   
Other Debtors 6,116   
53,752   

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 53,912    26,066 
Taxation and Social Security 14,452    1,703 
Other Creditors 140,793    101,587 
209,157    129,356 

2