Sidmouth Bed & Mattress Centre Limited 12125878 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is bed and mattress sales Digita Accounts Production Advanced 6.30.9574.0 true 12125878 2023-09-01 2024-08-31 12125878 2024-08-31 12125878 bus:Director1 1 2024-08-31 12125878 bus:Director2 1 2024-08-31 12125878 bus:OrdinaryShareClass1 2024-08-31 12125878 bus:OrdinaryShareClass2 2024-08-31 12125878 core:CurrentFinancialInstruments 2024-08-31 12125878 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 12125878 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 12125878 core:FurnitureFittingsToolsEquipment 2024-08-31 12125878 core:MotorVehicles 2024-08-31 12125878 bus:SmallEntities 2023-09-01 2024-08-31 12125878 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12125878 bus:FilletedAccounts 2023-09-01 2024-08-31 12125878 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 12125878 bus:RegisteredOffice 2023-09-01 2024-08-31 12125878 bus:Director1 2023-09-01 2024-08-31 12125878 bus:Director1 1 2023-09-01 2024-08-31 12125878 bus:Director2 2023-09-01 2024-08-31 12125878 bus:Director2 1 2023-09-01 2024-08-31 12125878 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 12125878 bus:OrdinaryShareClass2 2023-09-01 2024-08-31 12125878 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12125878 bus:Agent1 2023-09-01 2024-08-31 12125878 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 12125878 core:MotorVehicles 2023-09-01 2024-08-31 12125878 countries:EnglandWales 2023-09-01 2024-08-31 12125878 2023-08-31 12125878 bus:Director1 1 2023-08-31 12125878 bus:Director2 1 2023-08-31 12125878 core:FurnitureFittingsToolsEquipment 2023-08-31 12125878 core:MotorVehicles 2023-08-31 12125878 2022-09-01 2023-08-31 12125878 2023-08-31 12125878 bus:Director1 1 2023-08-31 12125878 bus:Director2 1 2023-08-31 12125878 bus:OrdinaryShareClass1 2023-08-31 12125878 bus:OrdinaryShareClass2 2023-08-31 12125878 core:CurrentFinancialInstruments 2023-08-31 12125878 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 12125878 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 12125878 core:FurnitureFittingsToolsEquipment 2023-08-31 12125878 core:MotorVehicles 2023-08-31 12125878 bus:Director1 1 2022-09-01 2023-08-31 12125878 bus:Director2 1 2022-09-01 2023-08-31 12125878 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 12125878 bus:OrdinaryShareClass2 2022-09-01 2023-08-31 12125878 bus:Director1 1 2022-08-31 12125878 bus:Director2 1 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12125878

Sidmouth Bed & Mattress Centre Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 August 2024

 

Sidmouth Bed & Mattress Centre Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Sidmouth Bed & Mattress Centre Limited

Company Information

Directors

Mr R Rafipay

Miss Y Cort

Registered office

c/o Easterbrook Eaton Ltd
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

Accountants

Easterbrook Eaton Limited
Chartered AccountantsCosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

 

Sidmouth Bed & Mattress Centre Limited

(Registration number: 12125878)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

21,817

24,749

Current assets

 

Stocks

5

15,000

15,000

Debtors

12,503

1,290

Cash at bank and in hand

 

215,367

229,284

 

242,870

245,574

Prepayments and accrued income

 

548

1,352

Creditors: Amounts falling due within one year

(41,201)

(53,129)

Net current assets

 

202,217

193,797

Total assets less current liabilities

 

224,034

218,546

Creditors: Amounts falling due after more than one year

-

(2,528)

Provisions for liabilities

(5,116)

(5,195)

Accruals and deferred income

 

(10,526)

(7,360)

Net assets

 

208,392

203,463

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

208,292

203,363

Shareholders' funds

 

208,392

203,463

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 May 2025 and signed on its behalf by:
 

 

Sidmouth Bed & Mattress Centre Limited

(Registration number: 12125878)
Abridged Balance Sheet as at 31 August 2024

.........................................
Mr R Rafipay
Director

.........................................
Miss Y Cort
Director

 

Sidmouth Bed & Mattress Centre Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o Easterbrook Eaton Ltd
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

These financial statements were authorised for issue by the Board on 7 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Sidmouth Bed & Mattress Centre Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

10% reducing balance

Motor vehicles

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Sidmouth Bed & Mattress Centre Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Sidmouth Bed & Mattress Centre Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

11,117

35,135

46,252

Additions

1,305

-

1,305

At 31 August 2024

12,422

35,135

47,557

Depreciation

At 1 September 2023

2,683

18,820

21,503

Charge for the year

974

3,263

4,237

At 31 August 2024

3,657

22,083

25,740

Carrying amount

At 31 August 2024

8,765

13,052

21,817

At 31 August 2023

8,434

16,315

24,749

5

Stocks

2024
£

2023
£

Other inventories

15,000

15,000

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

50

50

50

50

Ordinary B of £1 each

50

50

50

50

100

100

100

100

7

Dividends

Interim dividends paid

 

Sidmouth Bed & Mattress Centre Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

2024
£

2023
£

Interim dividend of £860.00 (2023 - £1,145.00) per each Ordinary A

43,000

57,250

Interim dividend of £860.00 (2023 - £1,145.00) per each Ordinary B

43,000

57,250

86,000

114,500

8

Related party transactions

Transactions with directors

2024

At 1 September 2023
£

Advances to director
£

Other payments made to company by director
£

At 31 August 2024
£

Mr R Rafipay

(6,840)

52,911

(43,156)

2,915

Miss Y Cort

(23)

48,966

(43,156)

5,787

2023

At 1 September 2022
£

Advances to director
£

Other payments made to company by director
£

At 31 August 2023
£

Mr R Rafipay

(2,953)

23,869

(27,756)

(6,840)

Miss Y Cort

(95)

27,528

(27,456)

(23)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,140

25,140