Company Registration No. 11796167 (England and Wales)
Hollywood Beds Limited
Unaudited accounts
for the year ended 31 January 2024
Hollywood Beds Limited
Unaudited accounts
Contents
Hollywood Beds Limited
Company Information
for the year ended 31 January 2024
Company Number
11796167 (England and Wales)
Registered Office
UNIT 2B, HEATH FARM, ALCESTER RD
BIRMINGHAM
B47 6AJ
GB
Accountants
Barbara Krzyczmonik
45 Matheson Road
Southampton
-
SO16 8GS
Hollywood Beds Limited
Statement of financial position
as at 31 January 2024
Called up share capital not paid
100
100
Tangible assets
9,321
20,037
Cash at bank and in hand
408,236
282,275
Creditors: amounts falling due within one year
(64,528)
(51,726)
Net current assets
424,030
320,073
Total assets less current liabilities
433,451
340,210
Creditors: amounts falling due after more than one year
(29,630)
(37,297)
Net assets
403,821
302,913
Called up share capital
100
100
Profit and loss account
403,721
302,813
Shareholders' funds
403,821
302,913
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 August 2024 and were signed on its behalf by
Costa Christou
Director
Company Registration No. 11796167
Hollywood Beds Limited
Notes to the Accounts
for the year ended 31 January 2024
Hollywood Beds Limited is a private company, limited by shares, registered in England and Wales, registration number 11796167. The registered office is UNIT 2B, HEATH FARM, ALCESTER RD, BIRMINGHAM, B47 6AJ, GB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Hollywood Beds Limited
Notes to the Accounts
for the year ended 31 January 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 February 2023
7,323
2,370
24,000
10,605
1,406
45,704
Additions
-
-
-
-
1,152
1,152
Disposals
-
-
-
(1,095)
-
(1,095)
At 31 January 2024
7,323
2,370
24,000
9,510
2,558
45,761
At 1 February 2023
1,935
1,654
13,677
6,854
1,547
25,667
Charge for the year
488
474
8,000
1,902
78
10,942
On disposals
-
-
-
(169)
-
(169)
At 31 January 2024
2,423
2,128
21,677
8,587
1,625
36,440
At 31 January 2024
4,900
242
2,323
923
933
9,321
At 31 January 2023
5,388
716
10,323
3,751
(141)
20,037
Finished goods
49,224
47,899
Amounts falling due within one year
Trade debtors
23,380
33,523
Accrued income and prepayments
8,154
8,102
Hollywood Beds Limited
Notes to the Accounts
for the year ended 31 January 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
5,556
4,978
Taxes and social security
37,350
22,880
Loans from directors
5,147
3,691
8
Creditors: amounts falling due after more than one year
2024
2023
9
Operating lease commitments
2024
2023
At 31 January 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
47,000
47,000
Later than one year and not later than five years
188,000
188,000
Later than five years
329,000
376,000
10
Average number of employees
During the year the average number of employees was 4 (2023: 4).