Registered number
11687421
Beautiful Sleep Limited
Filleted Accounts
31 March 2024
Beautiful Sleep Limited
Registered number: 11687421
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 95,642 101,978
Current assets
Stocks 75,291 91,872
Debtors 4 22,257 59,138
Cash at bank and in hand 40,580 25,413
138,128 176,423
Creditors: amounts falling due within one year 5 (48,501) (88,293)
Net current assets 89,627 88,130
Total assets less current liabilities 185,269 190,108
Creditors: amounts falling due after more than one year 6 (36,417) (52,358)
Net assets 148,852 137,750
Capital and reserves
Called up share capital 20 20
Profit and loss account 148,832 137,730
Shareholder's funds 148,852 137,750
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K A Gray-Roberts
Director
Approved by the board on 19 August 2024
Beautiful Sleep Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, at the following rates:
Plant and machinery - 5% per annum
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. There is no liability for taxation for the period due to the availability of tax allowances on the purchase of plant and machinery.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 12
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 126,664
At 31 March 2024 126,664
Depreciation
At 1 April 2023 24,686
Charge for the year 6,336
At 31 March 2024 31,022
Net book value
At 31 March 2024 95,642
At 31 March 2023 101,978
4 Debtors 2024 2023
£ £
Trade debtors 16,865 42,614
Other debtors 5,392 16,524
22,257 59,138
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loan 17,228 15,923
Trade creditors 6,627 26,529
Taxation and social security costs 21,430 20,357
Other creditors 3,216 25,484
48,501 88,293
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan 36,417 31,967
Other creditors - 20,391
36,417 52,358
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loan - 8,723
The secured loan was secured by way of a debenture over the company's assets.
8 Related party transactions
During the year Mr A G Miles, director, charged the company £2,500 for licence fees in respect
of products sold by the company for which the director owns the patent. This is in accordance with
an agreement between the parties dated 20 November 2018. No charge had been raised prior to
2024 in order to assist the company's cash flow.
9 Other information
Beautiful Sleep Limited is a private company limited by shares and incorporated in England. Its registered office is:
Trefern
Polmenna
Tregony
Truro
TR2 5SR
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