Company Registration No. 12424437 (England and Wales)
Drowsy Sleep Co Ltd
Unaudited accounts
for the year ended 31 December 2023
Drowsy Sleep Co Ltd
Unaudited accounts
Contents
Drowsy Sleep Co Ltd
Company Information
for the year ended 31 December 2023
Directors
Oliver Geoffrey Bushnell
Richard John Hemelryk
Thomas Paul Hemelryk
Samuel William Vickers
Company Number
12424437 (England and Wales)
Registered Office
Vicarage Court
160 Ermin Street
Swindon
SN3 4NE
England
Accountants
Regulatory Accounting Ltd
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE
Drowsy Sleep Co Ltd
Statement of financial position
as at 31 December 2023
Inventories
95,104
140,698
Cash at bank and in hand
127,129
114,490
Creditors: amounts falling due within one year
(322,565)
(278,225)
Net current assets
385,994
272,173
Total assets less current liabilities
386,994
273,173
Creditors: amounts falling due after more than one year
(8,743)
(14,437)
Net assets
378,251
258,736
Called up share capital
100
100
Profit and loss account
378,151
258,636
Shareholders' funds
378,251
258,736
For the year ending 31 December 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by
Samuel William Vickers
Director
Company Registration No. 12424437
Drowsy Sleep Co Ltd
Notes to the Accounts
for the year ended 31 December 2023
Drowsy Sleep Co Ltd is a private company, limited by shares, registered in England and Wales, registration number 12424437. The registered office is Vicarage Court, 160 Ermin Street, Swindon, SN3 4NE, England.
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.
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.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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 costs 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.
Drowsy Sleep Co Ltd
Notes to the Accounts
for the year ended 31 December 2023
Trade creditors are obligations to pay for goods and 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 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.
Investments in shares are included at fair value.
4
Investments
Subsidiary undertakings
Valuation at 1 January 2023
1,000
Valuation at 31 December 2023
1,000
Finished goods
95,104
140,698
Amounts falling due within one year
Trade debtors
16,722
108,624
Amounts due from group undertakings etc.
366,607
150,247
Accrued income and prepayments
41,447
15,192
Other debtors
61,550
21,147
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,668
5,527
Trade creditors
20,076
41,544
Taxes and social security
24,454
10,232
Other creditors
178,909
72,538
8
Creditors: amounts falling due after more than one year
2023
2022
Drowsy Sleep Co Ltd
Notes to the Accounts
for the year ended 31 December 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Net Transactions
1,000
4,008
4,000
1,008
Net Transactions
1,000
7,007
7,000
1,007
Net Transactions
1,000
7
-
1,007
Net Transactions
1,000
20,121
20,000
1,121
4,000
31,143
31,000
4,143
10
Transactions with related parties
Drowsy LLC USA - 2023 £98,729 - 2022 £14,799
Drowsy SL (EU) - 2023 £8,690 - 2022 Nil
Hunny Ltd - 2023 £257,040 - 2022 £134,200
Hunny Ltd own all shares in Drowsy Sleep Co Ltd.
Plant Department Ltd - 2023 £2,148 - 2022 £1,148
Plant Department Ltd are under the same ownership, Hunny Ltd, as Drowsy Sleep Co Ltd.
11
Average number of employees
During the year the average number of employees was 4 (2022: 4).