Metal Beds Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Metal Beds Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05185151 . The registered office is Verulam Road, Stafford, Staffordshire, ST16 3EA.

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.

Page 3

Page 4

Metal Beds Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

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 Profit and Loss Account, 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 (2024: 11)

4. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 January 2025	212,307	600	212,907

As at 31 December 2025	212,307	600	212,907

...CONTINUED

Page 4

Page 5

Metal Beds Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Amortisation
As at 1 January 2025	212,307	540	212,847
Provided during the period	-	60	60

As at 31 December 2025	212,307	600	212,907

Net Book Value
As at 31 December 2025	-	-	-

As at 1 January 2025	-	60	60

5. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 January 2025	585,245

As at 31 December 2025	585,245

Depreciation
As at 1 January 2025	508,874
Provided during the period	18,147

As at 31 December 2025	527,021

Net Book Value
As at 31 December 2025	58,224

As at 1 January 2025	76,371

6. Stocks

	2025	2024 as restated
	£	£
Stock	508,836	625,027

7. Debtors

	2025	2024 as restated
	£	£
Due within one year
Trade debtors	131,927	139,583
Prepayments and accrued income	1,284	1,160
Other debtors	56,675	56,346
Corporation tax recoverable assets	27,875	-
VAT	-	35,793
Directors' loan accounts	4,019	3,068
Amounts owed by group undertakings	8,302	13,202

	230,082	249,152

Page 5

Page 6

Metal Beds Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024 as restated
	£	£
Trade creditors	225,540	455,928
Bank loans and overdrafts	62,904	48,127
Other loans	74,377	-
Other taxes and social security	4,677	4,697
VAT	150,747	-
Other creditors	28,549	51,409
RBS Factoring	52,213	27,329
Accruals and deferred income	86,396	39,426
Directors' loan accounts	-	2,774

	685,403	629,690

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024 as restated
	£	£
Bank loans	80,608	37,096

10. Share Capital

	2025	2024 as restated
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 £2,348,744 (2024 £2,474,830).

12. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2025
	£	£	£	£	£
Mr Calvin Fullwood	3,069	3,840	3,069	-	3,839
Mr Paul Sproston	-	2,954	2,774	-	180

The above loans are provided interest free and are repayable on demand.

Page 6

		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		-		60
Tangible Assets	5		58,224		76,371

			58,224		76,431
CURRENT ASSETS
Stocks	6	508,836		625,027
Debtors	7	230,082		249,152
Cash at bank and in hand		13,248		23,241

		752,166		897,420
Creditors: Amounts Falling Due Within One Year	8	(685,403 )		(629,690 )

NET CURRENT ASSETS (LIABILITIES)			66,763		267,730

TOTAL ASSETS LESS CURRENT LIABILITIES			124,987		344,161

Creditors: Amounts Falling Due After More Than One Year	9		(80,608 )		(37,096 )

NET ASSETS			44,379		307,065

CAPITAL AND RESERVES
Called up share capital	10		1		1
Profit and Loss Account			44,378		307,064

SHAREHOLDERS' FUNDS			44,379		307,065