Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312023-05-232024-10-31Retail of furniture, lighting, and similar (not musical instruments or scores) in specialised store2023-05-23falsefalsefalse10trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14888586 2023-05-22 14888586 2023-05-23 2024-10-31 14888586 2022-05-23 2023-05-22 14888586 2024-10-31 14888586 c:Director1 2023-05-23 2024-10-31 14888586 c:Director1 2024-10-31 14888586 c:Director2 2023-05-23 2024-10-31 14888586 c:Director2 2024-10-31 14888586 c:Director3 2023-05-23 2024-10-31 14888586 c:Director3 2024-10-31 14888586 c:Director4 2023-05-23 2024-10-31 14888586 c:Director4 2024-10-31 14888586 d:FurnitureFittings 2023-05-23 2024-10-31 14888586 d:FurnitureFittings 2024-10-31 14888586 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-23 2024-10-31 14888586 d:OfficeEquipment 2023-05-23 2024-10-31 14888586 d:OfficeEquipment 2024-10-31 14888586 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-23 2024-10-31 14888586 d:OwnedOrFreeholdAssets 2023-05-23 2024-10-31 14888586 d:CurrentFinancialInstruments 2024-10-31 14888586 d:Non-currentFinancialInstruments 2024-10-31 14888586 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 14888586 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 14888586 d:ShareCapital 2024-10-31 14888586 d:RetainedEarningsAccumulatedLosses 2024-10-31 14888586 c:OrdinaryShareClass1 2023-05-23 2024-10-31 14888586 c:OrdinaryShareClass1 2024-10-31 14888586 c:OrdinaryShareClass2 2023-05-23 2024-10-31 14888586 c:OrdinaryShareClass2 2024-10-31 14888586 c:FRS102 2023-05-23 2024-10-31 14888586 c:AuditExempt-NoAccountantsReport 2023-05-23 2024-10-31 14888586 c:FullAccounts 2023-05-23 2024-10-31 14888586 c:PrivateLimitedCompanyLtd 2023-05-23 2024-10-31 14888586 d:WithinOneYear 2024-10-31 14888586 2 2023-05-23 2024-10-31 14888586 e:PoundSterling 2023-05-23 2024-10-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14888586









100% COMFORT LTD







UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE 18 MONTH PERIOD ENDED 31 OCTOBER 2024

 
100% COMFORT LTD
 
 
 
DIRECTORS' REPORT
FOR THE 18 MONTH PERIOD ENDED 31 OCTOBER 2024

The directors present their report and the financial statements for the period ended 31 October 2024.

Background
100% Comfort Ltd was established with a clear purpose: to bring expertise and innovation to the world of pillows and mattress toppers. These essential products play a crucial role in improving sleep quality, yet they are often overlooked or undervalued by manufacturers, retailers, and consumers alike.
Our mission is to become the champion of consumer comfort by offering top-quality products at the most competitive prices, every day.
The company’s first financial period was extended to 18 months, covering both the pre-trading phase and the first 12 months of revenue. Sales performance exceeded expectations, with a notable acceleration in growth during the last quarter as the trading brands began to gain recognition in the market.
The business has the full financial support of the founders and shareholders, which enabled substantial planned investment to be made in building the business, both commercially and operationally, ensuring that a strong foundation is in place to drive future, sustainable and profitable growth.

Directors

The directors who served during the period were:

M G Clare (appointed 14 July 2023)
G H Suthern (appointed 14 July 2023)
N A Worthington (appointed 14 July 2023)
R J Clark (appointed 23 May 2023, resigned 14 July 2023)

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 20 February 2025 and signed on its behalf.
 





N A Worthington
Director

Page 1

 
100% COMFORT LTD
REGISTERED NUMBER: 14888586

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024


2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
16,317

  
16,317

Current assets
  

Stocks
 5 
128,186

Debtors: amounts falling due within one year
 6 
167,884

Cash at bank and in hand
 7 
28,225

  
324,295

Creditors: amounts falling due within one year
 8 
(1,046,923)

Net current liabilities
  
 
 
(722,628)

Total assets less current liabilities
  
(706,311)

Creditors: amounts falling due after more than one year
 9 
(2,090,923)

  

Net liabilities
  
(2,797,234)


Capital and reserves
  

Called up share capital 
 10 
100

Profit and loss account
  
(2,797,334)

  
(2,797,234)


Page 2

 
100% COMFORT LTD
REGISTERED NUMBER: 14888586
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 February 2025.




N A Worthington
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
100% COMFORT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 18 MONTH PERIOD ENDED 31 OCTOBER 2024

1.


General information

100% Comfort Ltd is a company limited by shares, incorporated in England and Wales. The address of the registered office is M2 Mosquito Studios, De Havilland Court, Penn Street, Amersham, England, HP7 0PX.
The company was incorporated on 23 May 2023 and commenced trading on 28 July 2023.
The company specialises in the online selling of pillows, mattress toppers, mattresses and associated products.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has net liabilities of £2,797,234, including an amount of £2,374,995 due to a company under common control. That company has indicated its willingness to continue providing financial support to the company to ensure that the company has sufficient current assets to meet its liabilities as they fall due for a period of at least one year from the date of approval of the financial statements. The directors therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

Page 4

 
100% COMFORT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 18 MONTH PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
33%
Straight line
Office equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in Statement of comprehensive income.

Page 5

 
100% COMFORT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 18 MONTH PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 10.


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost


Additions
5,507
16,636
22,143



At 31 October 2024

5,507
16,636
22,143



Depreciation


Charge for the period
853
4,973
5,826



At 31 October 2024

853
4,973
5,826



Net book value



At 31 October 2024
4,654
11,663
16,317

Page 6

 
100% COMFORT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 18 MONTH PERIOD ENDED 31 OCTOBER 2024

5.


Stocks

2024
£

Finished goods & goods for resale
128,186

128,186



6.


Debtors

2024
£


Trade debtors
150,607

Prepayments and accrued income
17,277

167,884



7.


Cash and cash equivalents

2024
£

Cash at bank and in hand
28,225

28,225



8.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
294,367

Other taxation and social security
28,242

Other creditors
651,236

Accruals and deferred income
73,078

1,046,923


Within other creditors due in less than 1 year is a loan of £280,000 and associated interest of £4,072 which is secured by a debenture over the assets of the company. The loan accrues interest at a rate of 13% per annum.

Page 7

 
100% COMFORT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 18 MONTH PERIOD ENDED 31 OCTOBER 2024

9.


Creditors: Amounts falling due after more than one year

2024
£

Other creditors
2,090,923

2,090,923


Within other creditors due after more than 1 year is a loan of £1,931,100 and associated interest of £159,823 which is secured by a debenture over the assets of the company. The loan accrues interest at a rate of 10% per annum and is repayable in full on the repayment date in 2028.


10.


Share capital

2024
£
Allotted, called up and fully paid


580 Ordinary A shares of £0.10 each
58
420 Ordinary B shares of £0.10 each
42

100


On incorporation, 10,000 Ordinary £0.01 shares were issued at par.
On 21 July 2023, 10,000 Ordinary £0.01 shares were consolidated and divided into 1,000 Ordinary shares of  £0.10 each. 
On 21 July 2023, 580 Ordinary £0.10 shares were re-designated as 580 Ordinary A shares of £0.10 each, and 420 Ordinary £0.10 shares were re-designated as 420 Ordinary B shares of £0.10 each.
The shares rank pari-passu in all respects and have attached to them full voting and capital distribution rights. The shares are a separate class of share for the payment of dividends. They do not confer any rights of redemption.


11.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £114,368. Contributions totalling £8,772 were payable to a fund at the Statement of financial position date and are included in creditors.

Page 8

 
100% COMFORT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 18 MONTH PERIOD ENDED 31 OCTOBER 2024

12.


Commitments under operating leases

At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
£


Not later than 1 year
18,000

18,000


13.


Related party transactions

Included within other creditors due in less than one year are interest-free loans provided by the directors of £234,000 that are repayable on demand. During the period, the company received consultancy services of £44,000 from the directors.
 
Included within other creditors due in less than one year is a loan of £280,000 and associated interest of £4,072 due to a company under common control. The loan accrues interest at the rate of 13% per annum. During the period, interest of £4,072 was charged on the loan.
 
Included within other creditors due after more than one year is a loan of £1,931,000 and associated interest of £159,823 due to a company under common control. The loan accrues interest at the rate of 10% per annum. During the period, interest of £159,823 was charged on the loan.
 
During the period, the company received management and administration support of £29,000 from a company under common control. At the period-end the company owed £4,750 to that company, which is included within trade creditors.


14.


Controlling party

The ultimate controlling party is Mr M G Clare, a director, by virtue of his majority shareholding in the company.

 
Page 9