5 false false false false false false false false false false true false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 06932552 2024-04-01 2025-03-31 06932552 2025-03-31 06932552 2024-03-31 06932552 2023-04-01 2024-03-31 06932552 2024-03-31 06932552 2023-03-31 06932552 core:FurnitureFittings 2024-04-01 2025-03-31 06932552 core:MotorVehicles 2024-04-01 2025-03-31 06932552 bus:Director1 2024-04-01 2025-03-31 06932552 core:LandBuildings 2024-03-31 06932552 core:FurnitureFittings 2024-03-31 06932552 core:MotorVehicles 2024-03-31 06932552 core:LandBuildings 2025-03-31 06932552 core:FurnitureFittings 2025-03-31 06932552 core:MotorVehicles 2025-03-31 06932552 core:LandBuildings 2024-04-01 2025-03-31 06932552 core:WithinOneYear 2025-03-31 06932552 core:WithinOneYear 2024-03-31 06932552 core:ShareCapital 2025-03-31 06932552 core:ShareCapital 2024-03-31 06932552 core:RetainedEarningsAccumulatedLosses 2025-03-31 06932552 core:RetainedEarningsAccumulatedLosses 2024-03-31 06932552 core:LandBuildings 2024-03-31 06932552 core:FurnitureFittings 2024-03-31 06932552 core:MotorVehicles 2024-03-31 06932552 bus:SmallEntities 2024-04-01 2025-03-31 06932552 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 06932552 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 06932552 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 06932552 bus:FullAccounts 2024-04-01 2025-03-31 06932552 core:OfficeEquipment 2024-04-01 2025-03-31 06932552 core:OfficeEquipment 2024-03-31 06932552 core:OfficeEquipment 2025-03-31
COMPANY REGISTRATION NUMBER: 06932552
Beds Of Paradise Limited
Filleted Unaudited Financial Statements
31 March 2025
Beds Of Paradise Limited
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
111,895
93,138
Current assets
Stocks
41,095
42,199
Debtors
6
31,957
18,100
Cash at bank and in hand
32,925
130,788
---------
---------
105,977
191,087
Creditors: amounts falling due within one year
7
78,374
103,978
---------
---------
Net current assets
27,603
87,109
---------
---------
Total assets less current liabilities
139,498
180,247
Provisions
Taxation including deferred tax
4,881
6,195
---------
---------
Net assets
134,617
174,052
---------
---------
Capital and reserves
Called up share capital
10
10
Profit and loss account
134,607
174,042
---------
---------
Shareholders funds
134,617
174,052
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Beds Of Paradise Limited
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 12 May 2025 , and are signed on behalf of the board by:
Mr J McGuffog
Director
Company registration number: 06932552
Beds Of Paradise Limited
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Paradise Road, Downham Market, PE38 9HS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured 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 the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtor and creditors, loans from banks and other third parties and loans to related parties.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2024: 5 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2024
60,529
2,381
54,400
15,883
133,193
Additions
25,673
841
26,514
--------
-------
--------
--------
---------
At 31 March 2025
86,202
3,222
54,400
15,883
159,707
--------
-------
--------
--------
---------
Depreciation
At 1 April 2024
1,628
27,000
11,427
40,055
Charge for the year
239
6,850
668
7,757
--------
-------
--------
--------
---------
At 31 March 2025
1,867
33,850
12,095
47,812
--------
-------
--------
--------
---------
Carrying amount
At 31 March 2025
86,202
1,355
20,550
3,788
111,895
--------
-------
--------
--------
---------
At 31 March 2024
60,529
753
27,400
4,456
93,138
--------
-------
--------
--------
---------
6. Debtors
2025
2024
£
£
Trade debtors
30,582
16,725
Other debtors
1,375
1,375
--------
--------
31,957
18,100
--------
--------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
12,504
20,583
Social security and other taxes
10,032
1,158
Other creditors
55,838
82,237
--------
---------
78,374
103,978
--------
---------
8. Related party transactions
During the year the company paid rent of £16,869 (2024 £10,681) to Mr J McGuffog in respect of a property that he jointly owns. There were no other transactions with related parties that are required to be disclosed under FRS 102 Section 1A.