NOTTINGHAM SLEEPER COMPANY LIMITED


Directors	Mr L N Wiltshire
	Mr S Wiltshire
	Mrs S F Wiltshire


Company Secretary	Mr L N Wiltshire


Registered Address	Alpine Industrial Park
	Jockey Lane, Elkesley,
	Retford,Notts.
	DN22 8BN


Registered Number	00846379 (England and Wales)

Notes to the Financial Statements
for the year ended 31 January 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue 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 transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue 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 transition can be measured reliably.

	Borrowing costs
	Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows.

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows.


	Reducing balance (%)	Straight line (years)
Land and buildings	-	20
Plant and machinery	15	-
Vehicles	25	-

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	3		3

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Total
	£	£	£	£
Cost or valuation
At 01 February 24	1,339,989	279,416	24,883	1,644,288
Additions	-	277	-	277
At 31 January 25	1,339,989	279,693	24,883	1,644,565
Depreciation and impairment
At 01 February 24	255,697	267,926	13,803	537,426
Charge for year	26,800	1,763	2,771	31,334
At 31 January 25	282,497	269,689	16,574	568,760
Net book value
At 31 January 25	1,057,492	10,004	8,309	1,075,805
At 31 January 24	1,084,292	11,490	11,080	1,106,862

4.	Stocks

	2025	2024
	£	£
Raw materials and consumables	30,000	60,000
Total	30,000	60,000

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	12,516	2,115
Other debtors	234,163	727
Prepayments and accrued income	25,126	24,451
Total	271,805	27,293

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	7,586	2,212
Bank borrowings and overdrafts	48,287	54,805
Taxation and social security	130,370	101,799
Other creditors	3,069	26,753
Accrued liabilities and deferred income	22,207	9,167
Total	211,519	194,736

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	5,000	59,731
Total	5,000	59,731


	Bank borrowings Bounce Back Loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 16 July 2026. The carrying amount at the year end is £15,000 (2024 - £25,000) Bank overdraft is denominated in £ with a market interest rate, repayable on demand. The carrying amount at the year end is £38,287 (2024 - nil) Other borrowings Pension Scheme Loan is denominated in £ with a nominal interest rate of 2%, and the final instalment is due on 28 February 2026. The carrying amount at the year end is £0 (2024 - £89,536)

Bank borrowings
Bounce Back Loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 16 July 2026. The carrying amount at the year end is £15,000 (2024 - £25,000)
Bank overdraft is denominated in £ with a market interest rate, repayable on demand. The carrying amount at the year end is £38,287 (2024 - nil)

Other borrowings
Pension Scheme Loan is denominated in £ with a nominal interest rate of 2%, and the final instalment is due on 28 February 2026. The carrying amount at the year end is £0 (2024 - £89,536)

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	4,579	6,228
Total	4,579	6,228

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		1,075,805		1,106,862
			1,075,805		1,106,862
Current assets
Stocks	4	30,000		60,000
Debtors	5	271,805		27,293
Cash at bank and on hand		502		186,558
		302,307		273,851
Creditors amounts falling due within one year	6	(211,519)		(194,736)
Net current assets (liabilities)			90,788		79,115
Total assets less current liabilities			1,166,593		1,185,977
Creditors amounts falling due after one year	7		(5,000)		(59,731)
Provisions for liabilities	8		(4,579)		(6,228)
Net assets			1,157,014		1,120,018
Capital and reserves
Called up share capital			6,667		6,667
Other reserves			3,333		3,333
Profit and loss account			1,147,014		1,110,018
Shareholders' funds			1,157,014		1,120,018