Registered number
13563428
HI-LUX BEDS LIMITED
Filleted Accounts
31 August 2024
HI-LUX BEDS LIMITED
Registered number: 13563428
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 20,300 23,200
Current assets
Stocks 17,950 13,980
Debtors 4 13,541 5,556
Cash at bank and in hand 20,472 14,280
51,963 33,816
Creditors: amounts falling due within one year 5 (28,826) (18,590)
Net current assets 23,137 15,226
Total assets less current liabilities 43,437 38,426
Creditors: amounts falling due after more than one year 6 (31,690) (31,850)
Net assets 11,747 6,576
Capital and reserves
Called up share capital 25 25
Profit and loss account 11,722 6,551
Shareholders' funds 11,747 6,576
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MUHAMMAD ANDLEEB CHEEMA
Director
Approved by the board on 30 September 2024
HI-LUX BEDS LIMITED
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 7
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 25,000 4,000 29,000
At 31 August 2024 25,000 4,000 29,000
Depreciation
At 1 September 2023 5,000 800 5,800
Charge for the year 2,500 400 2,900
At 31 August 2024 7,500 1,200 8,700
Net book value
At 31 August 2024 17,500 2,800 20,300
At 31 August 2023 20,000 3,200 23,200
4 Debtors 2024 2023
£ £
Trade debtors 13,541 5,556
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 15,692 12,622
Taxation and social security costs 990 1,985
Other creditors 12,144 3,983
28,826 18,590
6 Creditors: amounts falling due after one year 2024 2023
£ £
Directors Loans 31,690 31,850
7 Other information
HI-LUX BEDS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
1st FLOOR, DOCK ING MILLS
INGS ROAD
BATLEY
WEST YORKSHIRE
WF17 8LT
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