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REGISTERED NUMBER: 11619312 (England and Wales)













BUDGET CARPETS & PREMIER BEDS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






BUDGET CARPETS & PREMIER BEDS LTD (REGISTERED NUMBER: 11619312)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BUDGET CARPETS & PREMIER BEDS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: D W Roberts





REGISTERED OFFICE: Unit 3, The Vantage Mannesman Close
Swansea Enterprise Park
Swansea
SA7 9AH





REGISTERED NUMBER: 11619312 (England and Wales)





ACCOUNTANTS: Carr, Jenkins & Hood
3 New Mill Court
Enterprise Park
Swansea
SA7 9FG

BUDGET CARPETS & PREMIER BEDS LTD (REGISTERED NUMBER: 11619312)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,228 22,666

CURRENT ASSETS
Stocks 45,000 47,350
Debtors 5 162,562 74,578
Cash at bank and in hand 9,277 18,891
216,839 140,819
CREDITORS
Amounts falling due within one year 6 187,089 135,152
NET CURRENT ASSETS 29,750 5,667
TOTAL ASSETS LESS CURRENT LIABILITIES 47,978 28,333

CREDITORS
Amounts falling due after more than one
year

7

14,167

24,167
NET ASSETS 33,811 4,166

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 33,711 4,066
33,811 4,166

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BUDGET CARPETS & PREMIER BEDS LTD (REGISTERED NUMBER: 11619312)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2024 and were signed by:





D W Roberts - Director


BUDGET CARPETS & PREMIER BEDS LTD (REGISTERED NUMBER: 11619312)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Budget Carpets & Premier Beds Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 10% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

BUDGET CARPETS & PREMIER BEDS LTD (REGISTERED NUMBER: 11619312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 18,949 23,999 1,084 2,483 46,515
DEPRECIATION
At 1 January 2023 7,118 14,311 434 1,986 23,849
Charge for year 1,895 1,938 108 497 4,438
At 31 December 2023 9,013 16,249 542 2,483 28,287
NET BOOK VALUE
At 31 December 2023 9,936 7,750 542 - 18,228
At 31 December 2022 11,831 9,688 650 497 22,666

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 125,958 -
Amounts owed by associates - 38,746
Other debtors 36,604 35,832
162,562 74,578

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 42,241 34,925
Taxation and social security 20,093 12,152
Other creditors 114,755 78,075
187,089 135,152

BUDGET CARPETS & PREMIER BEDS LTD (REGISTERED NUMBER: 11619312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 14,167 24,167