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Registered number: 05185151
Metal Beds Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Deans
Gibson House Hurricane Close
Stafford
Staffordshire
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05185151
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 60 8,081
Tangible Assets 5 76,371 100,982
76,431 109,063
CURRENT ASSETS
Stocks 6 829,142 473,222
Debtors 7 249,152 237,506
Cash at bank and in hand 23,241 86,404
1,101,535 797,132
Creditors: Amounts Falling Due Within One Year 8 (729,215 ) (320,181 )
NET CURRENT ASSETS (LIABILITIES) 372,320 476,951
TOTAL ASSETS LESS CURRENT LIABILITIES 448,751 586,014
Creditors: Amounts Falling Due After More Than One Year 9 (37,096 ) (85,223 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (18,377 ) (24,252 )
NET ASSETS 393,278 476,539
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 393,277 476,538
SHAREHOLDERS' FUNDS 393,278 476,539
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C N Fullwood
Director
16 June 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Metal Beds Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of 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.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:
Sale of goods
Turnover from the sale of beds  is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years. 
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. 
Patents and licences are being amortised evenly over their estimated useful life of ten years. 
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.  Cost includes costs directly attributable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Plant & Machinery Variable rates on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on reducing balance
2.6. Leasing and Hire Purchase Contracts
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
2.7. Stocks and Work in Progress
Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell.  Cost includes all cost of purchase, cost of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula.  Provision is made for damaged, obsolete and slow-moving stock where appropriate.
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2.8. Foreign Currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the function currency and the foreign currency at the date of the transaction.
Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.
2.9. 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.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
2.12. Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 10)
11 10
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 January 2024 212,307 600 212,907
As at 31 December 2024 212,307 600 212,907
Amortisation
As at 1 January 2024 204,346 480 204,826
Provided during the period 7,961 60 8,021
As at 31 December 2024 212,307 540 212,847
...CONTINUED
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Page 5
Net Book Value
As at 31 December 2024 - 60 60
As at 1 January 2024 7,961 120 8,081
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2024 591,378
Additions 1,667
Disposals (7,800 )
As at 31 December 2024 585,245
Depreciation
As at 1 January 2024 490,396
Provided during the period 23,968
Disposals (5,490 )
As at 31 December 2024 508,874
Net Book Value
As at 31 December 2024 76,371
As at 1 January 2024 100,982
6. Stocks
2024 2023
£ £
Stock 829,142 473,222
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 139,583 192,213
Prepayments and accrued income 1,160 1,797
Other debtors 56,346 25,395
VAT 35,793 -
Directors' loan accounts 3,068 -
Amounts owed by group undertakings 13,202 18,101
249,152 237,506
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 455,928 134,673
Bank loans and overdrafts 48,127 46,725
Corporation tax 27,874 85,867
Other taxes and social security 4,697 5,470
VAT - 5,817
Other creditors 51,409 22,840
RBS Factoring 27,329 -
Accruals and deferred income 111,077 7,724
Directors' loan accounts 2,774 11,065
729,215 320,181
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 37,096 85,223
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1.00 each 1 1
11. Other Commitments
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £2,474,830 (2023 £443,990).
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Calvin Fullwood - 3,069 - - 3,069
The above loan is provided interest free and repayable on demand.
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