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REGISTERED NUMBER: 12601557 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st May 2024

for

EXPRESS MATTRESS LTD

EXPRESS MATTRESS LTD (REGISTERED NUMBER: 12601557)






Contents of the Financial Statements
for the Year Ended 31st May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXPRESS MATTRESS LTD

Company Information
for the Year Ended 31st May 2024







DIRECTOR: Mr L S J Godfrey





REGISTERED OFFICE: 41 St Thomas's Road
Chorley
PR7 1JE





REGISTERED NUMBER: 12601557 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

EXPRESS MATTRESS LTD (REGISTERED NUMBER: 12601557)

Balance Sheet
31st May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,695 -

CURRENT ASSETS
Stocks 10,000 -
Debtors 5 3,605 -
Cash at bank and in hand 4,983 51
18,588 51
CREDITORS
Amounts falling due within one year 6 14,716 798
NET CURRENT ASSETS/(LIABILITIES) 3,872 (747 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,567

(747

)

CREDITORS
Amounts falling due after more than one
year

7

10,000

-
NET LIABILITIES (2,433 ) (747 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (2,434 ) (748 )
(2,433 ) (747 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EXPRESS MATTRESS LTD (REGISTERED NUMBER: 12601557)

Balance Sheet - continued
31st May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14th February 2025 and were signed by:





Mr L S J Godfrey - Director


EXPRESS MATTRESS LTD (REGISTERED NUMBER: 12601557)

Notes to the Financial Statements
for the Year Ended 31st May 2024

1. STATUTORY INFORMATION

Express Mattress Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Revenue is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33.3% on cost

Impairment of Assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


EXPRESS MATTRESS LTD (REGISTERED NUMBER: 12601557)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Going concern
The accounts have been prepared on the going concern basis, on the understanding that the director will continue to support the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
Additions 3,815 349 4,164
At 31st May 2024 3,815 349 4,164
DEPRECIATION
Charge for year 411 58 469
At 31st May 2024 411 58 469
NET BOOK VALUE
At 31st May 2024 3,404 291 3,695

EXPRESS MATTRESS LTD (REGISTERED NUMBER: 12601557)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 2,233 -
Other debtors 1,372 -
3,605 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 684 798
VAT 1,124 -
Other creditors 9,000 -
Directors' current accounts 3,008 -
Accrued expenses 900 -
14,716 798

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Directors' loan accounts 10,000 -

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.5.24 31.5.23
£    £   
Within one year 13,920 -
Between one and five years 63,800 -
77,720 -

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the 31 May 2024 the company owed to its director £13,008 (2023 - £0). No interest has been charged to
the company in respect of this loan and there is no formal repayment date for this loan.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr L Godfrey by virtue of his 100% shareholding of the issued share capital.