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Registration number: 12048431

Sleepers Holding Ltd

Unaudited Filleted Financial Statements

for the Period from 1 July 2021 to 31 December 2022

 

Sleepers Holding Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Sleepers Holding Ltd

(Registration number: 12048431)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

4

52,051

27,619

Tangible assets

5

75,868

42,553

Investments

6

25,000

25,000

 

152,919

95,172

Current assets

 

Stocks

7

95,000

240,000

Debtors

8

172,448

215,433

Cash at bank and in hand

 

5,163

14,672

 

272,611

470,105

Creditors: Amounts falling due within one year

9

(370,188)

(455,870)

Net current (liabilities)/assets

 

(97,577)

14,235

Total assets less current liabilities

 

55,342

109,407

Creditors: Amounts falling due after more than one year

9

(34,843)

(83,456)

Net assets

 

20,499

25,951

Capital and reserves

 

Called up share capital

10

1,900

1,900

Retained earnings

18,599

24,051

Shareholders' funds

 

20,499

25,951

For the financial period ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 August 2024
 

 

Sleepers Holding Ltd

(Registration number: 12048431)
Balance Sheet as at 31 December 2022

.........................................
Mr M Della Bruna
Director

 

Sleepers Holding Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2021 to 31 December 2022

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:
5th Floor, North Side
7/10 Chandos Street
London
W1G 9DQ

These financial statements were authorised for issue by the director on 31 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 and provision of services 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Sleepers Holding Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2021 to 31 December 2022

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant and machinery

5 years straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other intangible

5 Years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Sleepers Holding Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2021 to 31 December 2022

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.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2021 - 1).

 

Sleepers Holding Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2021 to 31 December 2022

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 July 2021

34,524

34,524

Additions internally developed

42,510

42,510

At 31 December 2022

77,034

77,034

Amortisation

At 1 July 2021

6,905

6,905

Amortisation charge

18,078

18,078

At 31 December 2022

24,983

24,983

Carrying amount

At 31 December 2022

52,051

52,051

At 30 June 2021

27,619

27,619

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2021

53,191

53,191

Additions

59,679

59,679

At 31 December 2022

112,870

112,870

Depreciation

At 1 July 2021

10,638

10,638

Charge for the period

26,364

26,364

At 31 December 2022

37,002

37,002

Carrying amount

At 31 December 2022

75,868

75,868

At 30 June 2021

42,553

42,553

 

Sleepers Holding Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2021 to 31 December 2022

6

Investments

2022
£

2021
£

Investments in subsidiaries

25,000

25,000

Subsidiaries

£

Cost or valuation

At 1 July 2021

25,000

Provision

Carrying amount

At 31 December 2022

25,000

At 30 June 2021

25,000

7

Stocks

2022
£

2021
£

Other inventories

95,000

240,000

8

Debtors

Current

2022
£

2021
£

Trade debtors

114,513

15,900

Other debtors

57,935

199,533

 

172,448

215,433

 

Sleepers Holding Ltd

Notes to the Unaudited Financial Statements for the Period from 1 July 2021 to 31 December 2022

9

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

166,676

439,218

Taxation and social security

1,771

1,771

Other creditors

201,741

14,881

370,188

455,870

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

11

34,843

49,113

Other non-current financial liabilities

 

-

34,343

 

34,843

83,456

10

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

1,900

1,900

1,900

1,900

         

11

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

34,843

49,113