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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
Page
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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
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Drowsy Sleep Co Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investments
1,000 
1,000 
Current assets
Inventories
95,104 
140,698 
Debtors
486,326 
295,210 
Cash at bank and in hand
127,129 
114,490 
708,559 
550,398 
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 
Capital and reserves
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
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Drowsy Sleep Co Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
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.
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.
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.
Foreign exchange
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
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.
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Drowsy Sleep Co Ltd Notes to the Accounts for the year ended 31 December 2023
Trade Creditors
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
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 
5
Inventories
2023 
2022 
£ 
£ 
Finished goods
95,104 
140,698 
95,104 
140,698 
6
Debtors
2023 
2022 
£ 
£ 
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 
486,326 
295,210 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,668 
5,527 
VAT
92,263 
67,596 
Trade creditors
20,076 
41,544 
Taxes and social security
24,454 
10,232 
Other creditors
178,909 
72,538 
Accruals
1,195 
80,788 
322,565 
278,225 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
8,743 
14,437 
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Drowsy Sleep Co Ltd Notes to the Accounts for the year ended 31 December 2023
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Oliver Geoffrey Bushnell
Net Transactions
1,000 
4,008 
4,000 
1,008 
Richard John Hemelryk
Net Transactions
1,000 
7,007 
7,000 
1,007 
Thomas Paul Hemelryk
Net Transactions
1,000 
7 
- 
1,007 
Samuel William Vickers
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).
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