| REGISTERED NUMBER: 07919911 (England and Wales) |
| Group Strategic Report, Report of the Directors and |
| Consolidated Financial Statements for the Period 1 April 2024 to 5 April 2025 |
| for |
| Get Laid Beds Limited |
| REGISTERED NUMBER: 07919911 (England and Wales) |
| Group Strategic Report, Report of the Directors and |
| Consolidated Financial Statements for the Period 1 April 2024 to 5 April 2025 |
| for |
| Get Laid Beds Limited |
| Get Laid Beds Limited (Registered number: 07919911) |
| Contents of the Consolidated Financial Statements |
| for the Period 1 April 2024 to 5 April 2025 |
| Page |
| Company Information | 1 |
| Group Strategic Report | 2 |
| Report of the Directors | 3 |
| Report of the Independent Auditors | 4 |
| Consolidated Income Statement | 8 |
| Consolidated Other Comprehensive Income | 9 |
| Consolidated Balance Sheet | 10 |
| Company Balance Sheet | 11 |
| Consolidated Statement of Changes in Equity | 12 |
| Company Statement of Changes in Equity | 13 |
| Consolidated Cash Flow Statement | 14 |
| Notes to the Consolidated Cash Flow Statement | 15 |
| Notes to the Consolidated Financial Statements | 16 |
| Get Laid Beds Limited |
| Company Information |
| for the Period 1 April 2024 to 5 April 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditor |
| Park House |
| 37 Clarence Street |
| Leicester |
| Leicestershire |
| LE1 3RW |
| Get Laid Beds Limited (Registered number: 07919911) |
| Group Strategic Report |
| for the Period 1 April 2024 to 5 April 2025 |
| The directors present their strategic report of the company and the group for the period 1 April 2024 to 5 April 2025. |
| REVIEW OF BUSINESS |
| The group has experienced a decline in turnover this year from £14.4 million to £13.6 million, a decrease of 5.6%, following continuing ongoing difficulties in the year caused by the current economic conditions and inflationary pressures. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The directors have reviewed its principal risks and uncertainties which include financial, commercial, social and environmental risks. The directors consider the potential risks to be similar to those faced by similar companies in the sector, principally to do with the continuity of supply, the maintenance of their customers, foreign exchange variations, and more specifically the current inflationary pressures. |
| Considerable emphasis is devoted to maintaining service levels and working closely with suppliers on logistical and quality issues to ensure that high levels of performance are achieved. |
| The directors believe that adequate procedures have been put in place to minimise the impact of any likely risks on the business going forward. |
| KEY PERFORMANCE INDICATORS |
| The key performance indicators which are monitored closely by management are turnover, gross margin percentage 50.6% (2024 - 53.1%) and profit before tax before exceptional items as a percentage of turnover 8.1% (2024 - 10.5%). In 2025, the group has continued to adopt operational key performance indicators such as Average Order Value, Cost per Delivery and Hours per product manufactured to enable the company to return a strong control over financial performance. |
| FUTURE DEVELOPMENTS |
| Despite expected market competitiveness and conditions, the directors express confidence in the company's prospects for strong performance. Expansion into new markets is anticipated to drive brand and company growth in the foreseeable future. |
| ON BEHALF OF THE BOARD: |
| Get Laid Beds Limited (Registered number: 07919911) |
| Report of the Directors |
| for the Period 1 April 2024 to 5 April 2025 |
| The directors present their report with the financial statements of the company and the group for the period 1 April 2024 to 5 April 2025. |
| PRINCIPAL ACTIVITY |
| The principal activity of the group in the period under review was that of the sale of beds. |
| DIVIDENDS |
| The total distribution of dividends for the period ended 5 April 2025 will be £ 318,840 . |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
| ON BEHALF OF THE BOARD: |
| Report of the Independent Auditors to the Members of |
| Get Laid Beds Limited |
| Opinion |
| We have audited the financial statements of Get Laid Beds Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 5 April 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the group's and of the parent company affairs as at 5 April 2025 and of the group's profit for the period then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
| Report of the Independent Auditors to the Members of |
| Get Laid Beds Limited |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the parent company financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. |
| Report of the Independent Auditors to the Members of |
| Get Laid Beds Limited |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| Extent to which the audit was considered capable of detecting irregularities, including fraud |
| The capability to detect irregularities is based on the auditor identifying and assessing the risks of material misstatement of the financial statements, whether due to fraud or error, and then designing and performing audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. |
| a) Identifying and assessing potential risks related to irregularities |
| In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, the following approach was taken: |
| - | Understanding the nature of the industry and sector, control environment and business performance; |
| - | Consideration of the results of our enquiries of management and those charged with governance about their own identification and assessment of the risks of irregularities; |
| - | Understanding the company's policies and procedures on compliance with laws and regulations and management of fraud risk, including documentation of instances of non-compliance of laws and regulations and instances of actual, suspected or alleged fraud; |
| - | Consideration of matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud; |
| - | Understanding the legal and regulatory frameworks that the company operates in through enquiry of management and those charged with governance and understanding the company's industry and sector. The key laws and regulations that were considered to have an effect on material amounts and disclosures in the financial statements included the Companies Act and tax legislation. |
| b) Audit response to risks identified |
| Based on this understanding, the following audit procedures were designed and performed to respond to the risks identified: |
| - | Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations described as having a direct effect on the financial statement; |
| - | Enquiring of management, those charged with governance and, where applicable, the company's solicitors concerning actual and potential litigation and claims; |
| - | Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; |
| - | Reviewing minutes of meetings of those charged with governance and, where applicable, correspondence with regulators; |
| - | Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business; |
| - | Communication of potential fraud risks to all engagement team members and remaining alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. |
| Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. |
| Report of the Independent Auditors to the Members of |
| Get Laid Beds Limited |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Statutory Auditor |
| Park House |
| 37 Clarence Street |
| Leicester |
| Leicestershire |
| LE1 3RW |
| Get Laid Beds Limited (Registered number: 07919911) |
| Consolidated |
| Income Statement |
| for the Period 1 April 2024 to 5 April 2025 |
| Period |
| 1.4.24 |
| to | Year Ended |
| 5.4.25 | 31.3.24 |
| Notes | £ | £ |
| TURNOVER | 4 | 13,624,413 | 14,434,337 |
| Cost of sales | (6,734,257 | ) | (6,764,549 | ) |
| GROSS PROFIT | 6,890,156 | 7,669,788 |
| Administrative expenses | (5,889,223 | ) | (6,249,623 | ) |
| 1,000,933 | 1,420,165 |
| Other operating income | - | 12,500 |
| OPERATING PROFIT | 6 | 1,000,933 | 1,432,665 |
| Interest receivable and similar income | 156,816 | 119,957 |
| 1,157,749 | 1,552,622 |
| Interest payable and similar expenses | 7 | (49,181 | ) | (43,181 | ) |
| PROFIT BEFORE TAXATION | 1,108,568 | 1,509,441 |
| Tax on profit | 8 | (285,452 | ) | (384,321 | ) |
| PROFIT FOR THE FINANCIAL PERIOD |
| Profit attributable to: |
| Owners of the parent | 823,116 | 1,125,120 |
| Get Laid Beds Limited (Registered number: 07919911) |
| Consolidated |
| Other Comprehensive Income |
| for the Period 1 April 2024 to 5 April 2025 |
| Period |
| 1.4.24 |
| to | Year Ended |
| 5.4.25 | 31.3.24 |
| Notes | £ | £ |
| PROFIT FOR THE PERIOD | 823,116 | 1,125,120 |
| OTHER COMPREHENSIVE INCOME |
| Translation of foreign subsidiaries | (1,896 | ) | - |
| Income tax relating to other comprehensive income |
- |
- |
| OTHER COMPREHENSIVE INCOME FOR THE PERIOD, NET OF INCOME TAX |
(1,896 |
) |
- |
| TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
821,220 |
| Prior year adjustment | (334,589 | ) |
| TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT |
790,531 |
| Total comprehensive income attributable to: |
| Owners of the parent | 821,220 | 790,531 |
| Get Laid Beds Limited (Registered number: 07919911) |
| Consolidated Balance Sheet |
| 5 April 2025 |
| 5.4.25 | 31.3.24 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 11 | 592,475 | 559,610 |
| Tangible assets | 12 | 652,477 | 929,603 |
| Investments | 13 | - | - |
| 1,244,952 | 1,489,213 |
| CURRENT ASSETS |
| Stocks | 14 | 562,467 | 731,485 |
| Debtors | 15 | 2,927,047 | 2,784,680 |
| Cash at bank | 1,650,713 | 1,494,199 |
| 5,140,227 | 5,010,364 |
| CREDITORS |
| Amounts falling due within one year | 16 | (2,467,225 | ) | (3,003,321 | ) |
| NET CURRENT ASSETS | 2,673,002 | 2,007,043 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
3,917,954 |
3,496,256 |
| CREDITORS |
| Amounts falling due after more than one year |
17 |
- |
(19,218 |
) |
| PROVISIONS FOR LIABILITIES | 20 | (144,840 | ) | (206,304 | ) |
| NET ASSETS | 3,773,114 | 3,270,734 |
| CAPITAL AND RESERVES |
| Called up share capital | 21 | 10 | 10 |
| Foreign exchange reserve | 22 | (1,896 | ) | - |
| Retained earnings | 22 | 3,775,000 | 3,270,724 |
| SHAREHOLDERS' FUNDS | 3,773,114 | 3,270,734 |
| The financial statements were approved by the Board of Directors and authorised for issue on 9 July 2025 and were signed on its behalf by: |
| Mr J N Haskins - Director |
| Get Laid Beds Limited (Registered number: 07919911) |
| Company Balance Sheet |
| 5 April 2025 |
| 5.4.25 | 31.3.24 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 11 |
| Tangible assets | 12 |
| Investments | 13 |
| CURRENT ASSETS |
| Stocks | 14 |
| Debtors | 15 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 16 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
17 |
( |
) |
| PROVISIONS FOR LIABILITIES | 20 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 21 |
| Retained earnings | 22 |
| SHAREHOLDERS' FUNDS |
| Company's profit for the financial year | 592,754 | 1,125,120 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Get Laid Beds Limited (Registered number: 07919911) |
| Consolidated Statement of Changes in Equity |
| for the Period 1 April 2024 to 5 April 2025 |
| Called up | Foreign |
| share | Retained | exchange | Total |
| capital | earnings | reserve | equity |
| £ | £ | £ | £ |
| Balance at 1 April 2023 | 10 | 2,793,033 | - | 2,793,043 |
| Prior year adjustment | - | (334,589 | ) | - | (334,589 | ) |
| As restated | 10 | 2,458,444 | - | 2,458,454 |
| Changes in equity |
| Dividends | - | (312,840 | ) | - | (312,840 | ) |
| Total comprehensive income | - | 1,125,120 | - | 1,125,120 |
| Balance at 31 March 2024 | 10 | 3,270,724 | - | 3,270,734 |
| Changes in equity |
| Dividends | - | (318,840 | ) | - | (318,840 | ) |
| Total comprehensive income | - | 823,116 | (1,896 | ) | 821,220 |
| Balance at 5 April 2025 | 10 | 3,775,000 | (1,896 | ) | 3,773,114 |
| Get Laid Beds Limited (Registered number: 07919911) |
| Company Statement of Changes in Equity |
| for the Period 1 April 2024 to 5 April 2025 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 April 2023 |
| Prior year adjustment | - | ( |
) | ( |
) |
| As restated |
| Changes in equity |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 31 March 2024 |
| Changes in equity |
| Dividends | - | ( |
) | ( |
) |
| Total comprehensive income | - |
| Balance at 5 April 2025 |
| Get Laid Beds Limited (Registered number: 07919911) |
| Consolidated Cash Flow Statement |
| for the Period 1 April 2024 to 5 April 2025 |
| Period |
| 1.4.24 |
| to | Year Ended |
| 5.4.25 | 31.3.24 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | 1,170,007 | 1,830,967 |
| Interest paid | (45,598 | ) | (33,580 | ) |
| Interest element of hire purchase payments paid |
(3,583 |
) |
(9,601 |
) |
| Tax paid | (601,662 | ) | (419,654 | ) |
| Net cash from operating activities | 519,164 | 1,368,132 |
| Cash flows from investing activities |
| Purchase of intangible fixed assets | (71,207 | ) | (262,727 | ) |
| Purchase of tangible fixed assets | (51,148 | ) | (174,416 | ) |
| Sale of tangible fixed assets | 35,286 | 18,889 |
| Interest received | 156,816 | 119,957 |
| Net cash from investing activities | 69,747 | (298,297 | ) |
| Cash flows from financing activities |
| Capital repayments in year | (43,107 | ) | (80,092 | ) |
| Amount introduced by directors | 2,746,664 | 1,492,911 |
| Amount withdrawn by directors | (2,817,114 | ) | (1,989,245 | ) |
| Equity dividends paid | (318,840 | ) | (312,840 | ) |
| Net cash from financing activities | (432,397 | ) | (889,266 | ) |
| Increase in cash and cash equivalents | 156,514 | 180,569 |
| Cash and cash equivalents at beginning of period |
2 |
1,494,199 |
1,313,630 |
| Cash and cash equivalents at end of period |
2 |
1,650,713 |
1,494,199 |
| Get Laid Beds Limited (Registered number: 07919911) |
| Notes to the Consolidated Cash Flow Statement |
| for the Period 1 April 2024 to 5 April 2025 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| Period |
| 1.4.24 |
| to | Year Ended |
| 5.4.25 | 31.3.24 |
| £ | £ |
| Profit before taxation | 1,108,568 | 1,509,441 |
| Depreciation charges | 222,486 | 216,882 |
| Loss on disposal of fixed assets | 87,718 | 5,480 |
| Finance costs | 49,181 | 43,181 |
| Finance income | (156,816 | ) | (119,957 | ) |
| 1,311,137 | 1,655,027 |
| Decrease in stocks | 169,018 | 25,674 |
| (Increase)/decrease in trade and other debtors | (25,174 | ) | 76,871 |
| (Decrease)/increase in trade and other creditors | (284,974 | ) | 73,395 |
| Cash generated from operations | 1,170,007 | 1,830,967 |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Period ended 5 April 2025 |
| 5.4.25 | 1.4.24 |
| £ | £ |
| Cash and cash equivalents | 1,650,713 | 1,494,199 |
| Year ended 31 March 2024 |
| 31.3.24 | 1.4.23 |
| £ | £ |
| Cash and cash equivalents | 1,494,199 | 1,313,630 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1.4.24 | Cash flow | At 5.4.25 |
| £ | £ | £ |
| Net cash |
| Cash at bank | 1,494,199 | 156,514 | 1,650,713 |
| 1,494,199 | 156,514 | 1,650,713 |
| Debt |
| Finance leases | (64,600 | ) | 43,107 | (21,493 | ) |
| (64,600 | ) | 43,107 | (21,493 | ) |
| Total | 1,429,599 | 199,621 | 1,629,220 |
| Get Laid Beds Limited (Registered number: 07919911) |
| Notes to the Consolidated Financial Statements |
| for the Period 1 April 2024 to 5 April 2025 |
| 1. | STATUTORY INFORMATION |
| Get Laid Beds Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Basis of consolidation |
| The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full. |
| The consolidated financial statements incorporate the results of the business combination using the purchase method. In the Balance Sheet, the acquirees' identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The combined results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements. |
| Turnover |
| Turnover is measured at fair value of the consideration received or receivable and represents the |
| amount receivable for goods supplied or services rendered, net of returns, discounts and rebates |
| allowed by the company and Valued Added Tax. |
| The company recognises turnover when the following criteria have been met: |
| Sale of goods |
| Revenue from the sale of goods is recognised when: |
| (a) the significant risks and rewards of ownership have been transferred to the buyer; |
| (b) the company retains no ongoing involvement or control over the goods; |
| (c) the revenue can be reliably measured; |
| (d) it is probable that the Company will receive the consideration due under the transaction; and |
| (e) the costs incurred in respect of the transaction can be reliably measured. |
| Intangible assets |
| 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. |
| Get Laid Beds Limited (Registered number: 07919911) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2024 to 5 April 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Tangible assets are stated at 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 provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Short Leasehold | 10% on cost |
| Improvements to property | 15% on reducing balance |
| Plant and machinery | 25% on reducing balance |
| Fixtures and fittings | 15% on reducing balance |
| Motor vehicles | 20% on reducing balance |
| Computer and office equipment | 25% on reducing balance |
| The expected useful lives of assets are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. |
| Cost is calculated using first-in, first-out method and includes all purchase, transport, and handling |
| costs in bringing stocks to their present location and condition. |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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 period 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. |
| Research and development |
| Expenditure on research is expensed in the year in which it is incurred. |
| Depending on the nature of development costs incurred, they are either written off in the year of |
| expenditure or capitalised (see Intangible assets accounting policy). |
| Get Laid Beds Limited (Registered number: 07919911) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2024 to 5 April 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
| period of the lease. |
| Pension costs and other post-retirement benefits |
| The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of |
| financial assets and liabilities like trade and other accounts receivable and payable. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each |
| reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. |
| 3. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the |
| circumstances. |
| The company makes estimates and assumptions concerning the future. The resulting accounting |
| estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below: |
| i) Useful economic lives of tangible assets |
| The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful |
| economic lives and residual values of assets. The useful economic lives and residual values are |
| reviewed annually. they are amended when necessary to reflect current accounting estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. |
| ii) Stock |
| In determining stock provisions, future demand and selling price is evaluated and appropriate |
| provisions are made to reflect the risk of obsolescence and impairment in carrying value. The |
| provisioning policy is in place to ensure that the carrying value of stock recognised in the financial |
| statements is the lower of cost and estimated selling price, in accordance with the stated accounting policy. |
| Get Laid Beds Limited (Registered number: 07919911) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2024 to 5 April 2025 |
| 4. | TURNOVER |
| The turnover and profit before taxation are attributable to the one principal activity of the group. |
| An analysis of turnover by geographical market is given below: |
| Period |
| 1.4.24 |
| to | Year Ended |
| 5.4.25 | 31.3.24 |
| £ | £ |
| United Kingdom | 9,445,465 | 10,475,809 |
| United States of America | 3,843,189 | 3,550,843 |
| Rest of the World | 335,759 | 407,685 |
| 13,624,413 | 14,434,337 |
| 5. | EMPLOYEES AND DIRECTORS |
| Period |
| 1.4.24 |
| to | Year Ended |
| 5.4.25 | 31.3.24 |
| £ | £ |
| Wages and salaries | 2,539,117 | 2,371,858 |
| Social security costs | 240,042 | 209,077 |
| Other pension costs | 62,807 | 62,489 |
| 2,841,966 | 2,643,424 |
| The average number of employees during the period was as follows: |
| Period |
| 1.4.24 |
| to | Year Ended |
| 5.4.25 | 31.3.24 |
| Production and administration | 86 | 89 |
| Directors | 4 | 4 |
| Period |
| 1.4.24 |
| to | Year Ended |
| 5.4.25 | 31.3.24 |
| £ | £ |
| Directors' remuneration | 51,175 | 50,400 |
| Get Laid Beds Limited (Registered number: 07919911) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2024 to 5 April 2025 |
| 6. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| Period |
| 1.4.24 |
| to | Year Ended |
| 5.4.25 | 31.3.24 |
| £ | £ |
| Hire of plant and machinery | 2,011 | 1,970 |
| Depreciation - owned assets | 164,099 | 168,816 |
| Depreciation - assets on hire purchase contracts | 20,045 | 48,066 |
| Loss on disposal of fixed assets | 87,718 | 5,480 |
| Development costs amortisation | 38,342 | - |
| Foreign exchange differences | 38,736 | 25,849 |
| Rentals paid under operating lease | 343,106 | 291,248 |
| Auditors remuneration | 20,000 | 12,710 |
| 7. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| Period |
| 1.4.24 |
| to | Year Ended |
| 5.4.25 | 31.3.24 |
| £ | £ |
| Corporation tax interest | 12,233 | 33,580 |
| Penalties and interest | 33,365 | - |
| Hire purchase | 3,583 | 9,601 |
| 49,181 | 43,181 |
| 8. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the period was as follows: |
| Period |
| 1.4.24 |
| to | Year Ended |
| 5.4.25 | 31.3.24 |
| £ | £ |
| Current tax: |
| UK corporation tax | 353,619 | 384,594 |
| Corporation tax - prior year | (6,703 | ) | - |
| Total current tax | 346,916 | 384,594 |
| Deferred tax | (61,464 | ) | (273 | ) |
| Tax on profit | 285,452 | 384,321 |
| UK corporation tax has been charged at 25 % (2024 - 25 %). |
| Get Laid Beds Limited (Registered number: 07919911) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2024 to 5 April 2025 |
| 8. | TAXATION - continued |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
| Period |
| 1.4.24 |
| to | Year Ended |
| 5.4.25 | 31.3.24 |
| £ | £ |
| Profit before tax | 1,108,568 | 1,509,441 |
| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) |
277,142 |
377,360 |
| Effects of: |
| Expenses not deductible for tax purposes | 15,013 | 6,961 |
| Adjustments to tax charge in respect of previous periods | (6,703 | ) | - |
| Total tax charge | 285,452 | 384,321 |
| Tax effects relating to effects of other comprehensive income |
| 1.4.24 to 5.4.25 |
| Gross | Tax | Net |
| £ | £ | £ |
| Translation of foreign subsidiaries | (1,896 | ) | - | (1,896 | ) |
| 9. | INDIVIDUAL INCOME STATEMENT |
| As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements. |
| 10. | DIVIDENDS |
| Period |
| 1.4.24 |
| to | Year Ended |
| 5.4.25 | 31.3.24 |
| £ | £ |
| Interim | 318,840 | 312,840 |
| Get Laid Beds Limited (Registered number: 07919911) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2024 to 5 April 2025 |
| 11. | INTANGIBLE FIXED ASSETS |
| Group |
| Development |
| costs |
| £ |
| COST |
| At 1 April 2024 | 559,610 |
| Additions | 71,207 |
| At 5 April 2025 | 630,817 |
| AMORTISATION |
| Amortisation for period | 38,342 |
| At 5 April 2025 | 38,342 |
| NET BOOK VALUE |
| At 5 April 2025 | 592,475 |
| At 31 March 2024 | 559,610 |
| Company |
| Development |
| costs |
| £ |
| COST |
| At 1 April 2024 |
| Additions |
| At 5 April 2025 |
| AMORTISATION |
| Amortisation for period |
| At 5 April 2025 |
| NET BOOK VALUE |
| At 5 April 2025 |
| At 31 March 2024 |
| Get Laid Beds Limited (Registered number: 07919911) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2024 to 5 April 2025 |
| 12. | TANGIBLE FIXED ASSETS |
| Group |
| Improvements |
| Short | to | Plant and |
| leasehold | property | machinery |
| £ | £ | £ |
| COST |
| At 1 April 2024 | 16,297 | 297,262 | 1,052,031 |
| Additions | - | - | 25,158 |
| Disposals | - | - | (192,965 | ) |
| At 5 April 2025 | 16,297 | 297,262 | 884,224 |
| DEPRECIATION |
| At 1 April 2024 | 7,304 | 131,655 | 567,879 |
| Charge for period | 1,667 | 25,310 | 112,873 |
| Eliminated on disposal | - | - | (128,216 | ) |
| At 5 April 2025 | 8,971 | 156,965 | 552,536 |
| NET BOOK VALUE |
| At 5 April 2025 | 7,326 | 140,297 | 331,688 |
| At 31 March 2024 | 8,993 | 165,607 | 484,152 |
| Computer |
| Fixtures | and |
| and | Motor | office |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2024 | 128,831 | 286,579 | 64,816 | 1,845,816 |
| Additions | 623 | - | 4,241 | 30,022 |
| Disposals | (17,419 | ) | (61,873 | ) | (47,197 | ) | (319,454 | ) |
| At 5 April 2025 | 112,035 | 224,706 | 21,860 | 1,556,384 |
| DEPRECIATION |
| At 1 April 2024 | 55,262 | 121,914 | 32,199 | 916,213 |
| Charge for period | 9,787 | 30,369 | 4,138 | 184,144 |
| Eliminated on disposal | (7,485 | ) | (32,059 | ) | (28,690 | ) | (196,450 | ) |
| At 5 April 2025 | 57,564 | 120,224 | 7,647 | 903,907 |
| NET BOOK VALUE |
| At 5 April 2025 | 54,471 | 104,482 | 14,213 | 652,477 |
| At 31 March 2024 | 73,569 | 164,665 | 32,617 | 929,603 |
| Included within the tangible fixed assets are assets held under hire purchase agreements with a net book value of £55,758 (2024 - £121,685). |
| Get Laid Beds Limited (Registered number: 07919911) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2024 to 5 April 2025 |
| 12. | TANGIBLE FIXED ASSETS - continued |
| Company |
| Improvements |
| Short | to | Plant and |
| leasehold | property | machinery |
| £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) |
| At 5 April 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for period |
| Eliminated on disposal | ( |
) |
| At 5 April 2025 |
| NET BOOK VALUE |
| At 5 April 2025 |
| At 31 March 2024 |
| Computer |
| Fixtures | and |
| and | Motor | office |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 5 April 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for period |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
| At 5 April 2025 |
| NET BOOK VALUE |
| At 5 April 2025 |
| At 31 March 2024 |
| Included within the tangible fixed assets are assets held under hire purchase agreements with a net book value of £55,758 (2024 - £121,685). |
| Get Laid Beds Limited (Registered number: 07919911) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2024 to 5 April 2025 |
| 13. | FIXED ASSET INVESTMENTS |
| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiary |
| Registered office: 838 Walker Road, Suite 21-2, Dover, DE 19904, Kent County, United States |
| Nature of business: |
| % |
| Class of shares: | holding |
| 5.4.25 |
| £ |
| Aggregate capital and reserves |
| Profit for the period |
| 14. | STOCKS |
| Group | Company |
| 5.4.25 | 31.3.24 | 5.4.25 | 31.3.24 |
| £ | £ | £ | £ |
| Raw materials | 313,264 | 382,919 |
| Work-in-progress | 155,480 | 168,187 |
| Finished goods | 93,723 | 180,379 |
| 562,467 | 731,485 |
| Stock recognised in cost of sales during the year as an expenses was £2,783,563 (2024 - £3,183,480). |
| 15. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 5.4.25 | 31.3.24 | 5.4.25 | 31.3.24 |
| £ | £ | £ | £ |
| Trade debtors | 23,494 | 29,837 |
| Other debtors | 4,478 | 4,375 |
| Directors' current accounts | 2,624,526 | 2,554,076 | 2,624,526 | 2,554,076 |
| Corporation tax recoverable | 123,914 | 98,297 |
| Prepayments | 150,635 | 98,095 |
| 2,927,047 | 2,784,680 |
| Get Laid Beds Limited (Registered number: 07919911) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2024 to 5 April 2025 |
| 16. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 5.4.25 | 31.3.24 | 5.4.25 | 31.3.24 |
| £ | £ | £ | £ |
| Hire purchase contracts (see note 18) | 21,493 | 45,382 |
| Trade creditors | 624,668 | 405,722 |
| Amounts owed to group undertakings | - | - |
| Corporation tax | 23,237 | 252,366 |
| Social security and other taxes | 473,436 | 805,907 |
| Other creditors | 317,680 | 299,526 |
| Deferred income | 774,588 | 842,721 |
| Accrued expenses | 232,123 | 351,697 |
| 2,467,225 | 3,003,321 |
| 17. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| Group | Company |
| 5.4.25 | 31.3.24 | 5.4.25 | 31.3.24 |
| £ | £ | £ | £ |
| Hire purchase contracts (see note 18) | - | 19,218 |
| 18. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Group |
| Hire purchase contracts |
| 5.4.25 | 31.3.24 |
| £ | £ |
| Net obligations repayable: |
| Within one year | 21,493 | 45,382 |
| Between one and five years | - | 19,218 |
| 21,493 | 64,600 |
| Company |
| Hire purchase contracts |
| 5.4.25 | 31.3.24 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Get Laid Beds Limited (Registered number: 07919911) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2024 to 5 April 2025 |
| 18. | LEASING AGREEMENTS - continued |
| Group |
| Non-cancellable | operating leases |
| 5.4.25 | 31.3.24 |
| £ | £ |
| Within one year | 273,000 | 273,000 |
| Between one and five years | 904,429 | 1,092,000 |
| In more than five years | - | 85,429 |
| 1,177,429 | 1,450,429 |
| Company |
| Non-cancellable | operating leases |
| 5.4.25 | 31.3.24 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 19. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| Group | Company |
| 5.4.25 | 31.3.24 | 5.4.25 | 31.3.24 |
| £ | £ | £ | £ |
| Hire purchase contracts | 21,493 | 64,600 | 21,493 | 64,600 |
| Hire purchase liabilities are secured on the assets acquired. |
| 20. | PROVISIONS FOR LIABILITIES |
| Group | Company |
| 5.4.25 | 31.3.24 | 5.4.25 | 31.3.24 |
| £ | £ | £ | £ |
| Deferred tax |
| Accelerated capital allowances | 144,840 | 206,304 |
| Group |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 | 206,304 |
| Credit to Income Statement during period | (61,464 | ) |
| Balance at 5 April 2025 | 144,840 |
| Get Laid Beds Limited (Registered number: 07919911) |
| Notes to the Consolidated Financial Statements - continued |
| for the Period 1 April 2024 to 5 April 2025 |
| 20. | PROVISIONS FOR LIABILITIES - continued |
| Company |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Credit to Statement of Comprehensive Income during period | ( |
) |
| Balance at 5 April 2025 |
| 21. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal value: | 5.4.25 | 31.3.24 |
| £ | £ |
| 4,000 | Ordinary A | 0.1p | 4 | 4 |
| 4,000 | Ordinary B | 0.1p | 4 | 4 |
| 1,000 | Ordinary C | 0.1p | 1 | 1 |
| 1,000 | Ordinary D | 0.1p | 1 | 1 |
| 10 | 10 |
| All share classes carry full voting rights with no restrictions and have no restrictions on the repayment of capital. The directors are entitled to vote an individual dividend on one class of share without the same dividend being voted to any other type of share. |
| 22. | RESERVES |
| Retained Earnings |
| Retained earnings represents cumulative profits or losses, net of dividends paid in the current and previous periods. |
| 23. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| During the year the directors had loan accounts with the company. Advances of £2,763,782 (2024 - £2,255,949) were made by the company to the directors during the year. This was partly repaid through dividends of £318,840 (2024 - £312,840) and other repayments of £2,427,824 (2024 - £1,492,911) made by the directors. Interest of £53,332 (2024 - £46,137) was charged on the loans given to the directors at HM Revenue & Customs official rate of interest. |
| As at 31 March 2025, the loan balances outstanding were a debtor of £2,624,526 (2024 - debtor of £2,554,076). |
| 24. | RELATED PARTY DISCLOSURES |
| Key management personnel of the entity or its parent (in the aggregate) |
| 5.4.25 | 31.3.24 |
| £ | £ |
| Dividends | 318,840 | 312,840 |
| Key management personnel are considered to be the directors of the company. Their remuneration is stated in note 5. |