Somnowell Ltd 05276095 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is the supply to the dental profession of oral appliances for snoring, sleep apnoea, TMJ, teeth grinding and retention. Digita Accounts Production Advanced 6.30.9574.0 true true 05276095 2022-12-01 2023-11-30 05276095 2023-11-30 05276095 core:CurrentFinancialInstruments 2023-11-30 05276095 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 05276095 core:Non-currentFinancialInstruments 2023-11-30 05276095 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 05276095 core:FurnitureFittingsToolsEquipment 2023-11-30 05276095 bus:SmallEntities 2022-12-01 2023-11-30 05276095 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 05276095 bus:FullAccounts 2022-12-01 2023-11-30 05276095 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 05276095 bus:RegisteredOffice 2022-12-01 2023-11-30 05276095 bus:Director6 2022-12-01 2023-11-30 05276095 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05276095 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 05276095 countries:EnglandWales 2022-12-01 2023-11-30 05276095 2022-11-30 05276095 core:FurnitureFittingsToolsEquipment 2022-11-30 05276095 2021-12-01 2022-11-30 05276095 2022-11-30 05276095 core:CurrentFinancialInstruments 2022-11-30 05276095 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 05276095 core:Non-currentFinancialInstruments 2022-11-30 05276095 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 05276095 core:FurnitureFittingsToolsEquipment 2022-11-30 iso4217:GBP xbrli:pure

Registration number: 05276095

Somnowell Ltd

Annual Report and Unaudited Financial Statements

for the year ended 30 November 2023

 

Somnowell Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Somnowell Ltd

(Registration number: 05276095)
Statement of Financial Position
30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

8

8

Current assets

 

Stocks

5

1,755

4,945

Debtors

6

26,692

34,076

Cash at bank and in hand

 

8,266

26,880

 

36,713

65,901

Creditors: Amounts falling due within one year

7

(382,662)

(375,440)

Net current liabilities

 

(345,949)

(309,539)

Total assets less current liabilities

 

(345,941)

(309,531)

Creditors: Amounts falling due after more than one year

7

(21,212)

(32,464)

Net liabilities

 

(367,153)

(341,995)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(367,253)

(342,095)

Shareholders' deficit

 

(367,153)

(341,995)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Somnowell Ltd

(Registration number: 05276095)
Statement of Financial Position
30 November 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 August 2024 and signed on its behalf by:
 

.........................................
L Simon
Director

 

Somnowell Ltd

Notes to the Unaudited Financial Statements
for the year ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wiston House
1 Wiston Avenue
Worthing
West Sussex
BN14 7QL
England

These financial statements were authorised for issue by the Board on 28 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Somnowell Ltd

Notes to the Unaudited Financial Statements
for the year ended 30 November 2023

2

Accounting policies (continued)

Foreign currency transactions and balances

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

between 2 and 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Somnowell Ltd

Notes to the Unaudited Financial Statements
for the year ended 30 November 2023

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 4).

 

Somnowell Ltd

Notes to the Unaudited Financial Statements
for the year ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

5,979

5,979

At 30 November 2023

5,979

5,979

Depreciation

At 1 December 2022

5,971

5,971

At 30 November 2023

5,971

5,971

Carrying amount

At 30 November 2023

8

8

At 30 November 2022

8

8

5

Stocks

2023
£

2022
£

Other inventories

1,755

4,945

6

Debtors

Current

2023
£

2022
£

Trade debtors

1,024

6,475

Prepayments

432

446

Other debtors

25,236

27,155

 

26,692

34,076

 

Somnowell Ltd

Notes to the Unaudited Financial Statements
for the year ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

10,010

8,768

Trade creditors

 

69,384

60,680

Taxation and social security

 

-

456

Accruals and deferred income

 

1,107

3,198

Other creditors

 

302,161

302,338

 

382,662

375,440

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

21,212

32,464

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

21,212

32,464

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,010

8,768