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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
Page
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Hollywood Beds Limited Company Information for the year ended 31 January 2024
Director
Costa Christou
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
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Hollywood Beds Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Called up share capital not paid
100 
100 
Fixed assets
Tangible assets
9,321 
20,037 
Current assets
Inventories
49,224 
47,899 
Debtors
31,098 
41,625 
Cash at bank and in hand
408,236 
282,275 
488,558 
371,799 
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 
Capital and reserves
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
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Hollywood Beds Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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:
Land & buildings
7%
Plant & machinery
20%
Motor vehicles
33%
Fixtures & fittings
20%
Computer equipment
33%
Inventories
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
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.
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Hollywood Beds Limited Notes to the Accounts for the year ended 31 January 2024
Leased assets
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.
Pension costs
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 
Depreciation
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 
Net book value
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 
5
Inventories
2024 
2023 
£ 
£ 
Finished goods
49,224 
47,899 
49,224 
47,899 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
23,380 
33,523 
Accrued income and prepayments
8,154 
8,102 
Other debtors
(436)
- 
31,098 
41,625 
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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 
VAT
14,220 
16,265 
Trade creditors
147 
2,352 
Taxes and social security
37,350 
22,880 
Other creditors
624 
- 
Loans from directors
5,147 
3,691 
Accruals
1,484 
1,560 
64,528 
51,726 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
29,630 
37,297 
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 
564,000 
611,000 
10
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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