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Registered number: 14252404
SleepyClub Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 14252404
31 July 2024 31 July 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 330 -
Tangible assets 5 1,196 1,882
1,526 1,882
CURRENT ASSETS
Stocks 6 1,251 -
Debtors 7 10,628 460
Cash at bank and in hand 2,051 -
13,930 460
Creditors: Amounts falling due within one year 8 (15,782 ) (3,263 )
NET CURRENT ASSETS (LIABILITIES) (1,852 ) (2,803 )
TOTAL ASSETS LESS CURRENT LIABILITIES (326 ) (921 )
NET LIABILITIES (326 ) (921 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Income Statement (327 ) (922 )
SHAREHOLDERS' FUNDS (326) (921)
Page 1
Page 2
For the year ending 31 July 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
The financial statements were approved by the board of directors on 6 February 2025 and were signed on its behalf by:
Dr Richard Prempeh
Director
6 February 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SleepyClub Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14252404 . The registered office is Bartle House, 9 Oxford Court, Manchester, M2 3WQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland - Small Entities and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods provided in the normal course of business, net of discounts, value added taxes and other applicable sales taxes.
Sale of goods
Turnover from the sale of goods to consumers is recognised at the point of sale, which is when the significant risks and rewards of ownership have been transferred.
2.4. Research and Development
All expenditure on research and development is written off in the period in which it is incurred.
2.5. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property is measured at cost less accumulated amortisation and any accumulated impairment losses. Amortisation is charged to the income statement at the following rates in order to write off the assets over their estimated useful lives:
      Trade marks:                                                10 year straight line
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is charged to the income statement at the following rates in order to write off the cost of the assets, less their estimated residual value, over their estimated useful lives:
Plant & Machinery 33% straight line
Fixtures & Fittings 33% straight line
Computer Equipment 33% straight line
2.7. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stocks to their present location and condition. Cost is calculated using the weighted average formula. Provision is made for damaged stock where appropriate.
2.8. Financial Instruments
Basic financial instruments
Cash and cash equivalents, and trade and other debtors and creditors, are classified as basic financial instruments.
Basic financial instruments not constituting financing transactions are initially recognised at transaction price. For arrangements constituting financing transactions, different recognition criteria apply:
  • Loans to the company from a person who is within a director's group of close family members that contains at least one shareholder are also initially recognised at transaction price.
  • All other arrangements constituting financing transactions are initially recognised at the present value of the future payments or receipts discounted at a market rate of interest.
Subsequent to initial recognition:
...CONTINUED
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2.8. Financial Instruments - continued
  • Basic financial instruments classified as payable or receivable after more than one year are measured at amortised cost using the effective interest method.
  • Basic financial instruments classified as payable or receivable within one year are only amortised if the effect is material.
Cash and cash equivalents
Cash in hand, bank balances, and short-term deposits with an original maturity of three months or less, which are readily convertible to known amounts of cash and subject to an insignificant risk of changes in value, are classified as cash and cash equivalents. These amounts are included in 'Cash at bank and in hand' on the statement of financial position.
Bank overdrafts are generally classified separately as creditors under current liabilities. However, if overdrafts are repayable on demand and the company has a legally enforceable right to set them off against cash and cash equivalents, they may be offset in certain circumstances.
2.9. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.10. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when it relates to items that are recognised in other comprehensive income or directly in equity, in which case the current tax is also recognised in other comprehensive income or directly in equity respectively.
2.11. Presentation Currency
The financial statements are presented in £ sterling, which is the functional currency of the company.
2.12. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors' report, and notes to the financial statements relating to the income statement.
3. Average Number of Employees
The average number of employees, including directors and other officers, during the year was: 1 (2023: 1)
1 1
4. Intangible assets
Other
£
Cost
As at 1 August 2023 -
Additions 340
As at 31 July 2024 340
Amortisation
As at 1 August 2023 -
Provided during the period 10
As at 31 July 2024 10
...CONTINUED
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Page 5
Net Book Value
As at 31 July 2024 330
As at 1 August 2023 -
At the statement of financial position date, the net book value of each class of intangible assets was as follows:
 Trade marks: £330
5. Tangible assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 83 222 1,734 2,039
Additions - - 64 64
Disposals - (116 ) - (116 )
As at 31 July 2024 83 106 1,798 1,987
Depreciation
As at 1 August 2023 30 33 94 157
Provided during the period 27 49 594 670
Disposals - (36 ) - (36 )
As at 31 July 2024 57 46 688 791
Net Book Value
As at 31 July 2024 26 60 1,110 1,196
As at 1 August 2023 53 189 1,640 1,882
6. Stocks
31 July 2024 31 July 2023
£ £
Finished goods 1,251 -
7. Debtors
31 July 2024 31 July 2023
£ £
Due within one year
Trade debtors 3,579 -
Prepayments and accrued income 7,047 -
Other debtors 2 -
VAT - 460
10,628 460
8. Creditors: Amounts falling due within one year
31 July 2024 31 July 2023
£ £
VAT 1,486 -
Directors' loan accounts 14,296 3,263
15,782 3,263
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9. Share Capital
31 July 2024 31 July 2023
Allotted, called up and fully paid £ £
1,000,000 Ordinary shares of £ 0.000001 each 1 1
10. Related Party Transactions
During the year, the company entered into the following transactions with related parties:
Owners holding a participating interest
During the year, the company received loans from Dr R Prempeh, the sole director and shareholder, totalling £11,525 (2023: £3,263). At the reporting date, the outstanding loan balance was £14,296 (2023: £3,263). The maximum balance outstanding during the year was £14,296 (2023: £3,263).
This amount is interest-free, unsecured and repayable on demand.
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