Silverfin false false 31/03/2024 01/04/2023 31/03/2024 N Ho Chee 15/10/2014 17 February 2025 The principal activity of the company continued to be that of retail sale via mail order houses or via internet and software development and consultancy. 09265920 2024-03-31 09265920 bus:Director1 2024-03-31 09265920 2023-03-31 09265920 core:CurrentFinancialInstruments 2024-03-31 09265920 core:CurrentFinancialInstruments 2023-03-31 09265920 core:ShareCapital 2024-03-31 09265920 core:ShareCapital 2023-03-31 09265920 core:RetainedEarningsAccumulatedLosses 2024-03-31 09265920 core:RetainedEarningsAccumulatedLosses 2023-03-31 09265920 core:OtherPropertyPlantEquipment 2023-03-31 09265920 core:OtherPropertyPlantEquipment 2024-03-31 09265920 bus:OrdinaryShareClass1 2024-03-31 09265920 2023-04-01 2024-03-31 09265920 bus:FilletedAccounts 2023-04-01 2024-03-31 09265920 bus:SmallEntities 2023-04-01 2024-03-31 09265920 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09265920 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09265920 bus:Director1 2023-04-01 2024-03-31 09265920 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 09265920 2022-04-01 2023-03-31 09265920 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09265920 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09265920 (England and Wales)

BEDTIME COMICS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

BEDTIME COMICS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

BEDTIME COMICS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
BEDTIME COMICS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 10,446 9,329
10,446 9,329
Current assets
Stocks 2,210 2,236
Debtors 4 11,691 32,451
Cash at bank and in hand 90,459 76,354
104,360 111,041
Creditors: amounts falling due within one year 5 ( 24,773) ( 26,554)
Net current assets 79,587 84,487
Total assets less current liabilities 90,033 93,816
Net assets 90,033 93,816
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 90,032 93,815
Total shareholder's funds 90,033 93,816

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Bedtime Comics Limited (registered number: 09265920) were approved and authorised for issue by the Director on 17 February 2025. They were signed on its behalf by:

N Ho Chee
Director
BEDTIME COMICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
BEDTIME COMICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bedtime Comics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 12th Floor 2 Leman Street, London, E1 8FA, United Kingdom. The principal place of business is Flat 6, 1 Queens Avenue, London, N10 3PE.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The consultancy work is included in the accounts on an accruals basis. The sales of comics are accounted for
when the income is received.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 33.33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 25,294 25,294
Additions 4,808 4,808
At 31 March 2024 30,102 30,102
Accumulated depreciation
At 01 April 2023 15,965 15,965
Charge for the financial year 3,691 3,691
At 31 March 2024 19,656 19,656
Net book value
At 31 March 2024 10,446 10,446
At 31 March 2023 9,329 9,329

4. Debtors

2024 2023
£ £
Trade debtors 9,600 30,600
Other debtors 2,091 1,851
11,691 32,451

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 16,861 17,006
Other creditors 7,912 9,548
24,773 26,554

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

Retained earnings represents accumulated comprehensive income for the year and prior periods less dividends paid