Company Registration No. 07742896 (England and Wales)
The Sleep School Limited
Unaudited accounts
for the year ended 31 March 2023
The Sleep School Limited
Unaudited accounts
Contents
The Sleep School Limited
Company Information
for the year ended 31 March 2023
Directors
Adrian Baxter
Dr. Guy Meadows
Company Number
07742896 (England and Wales)
Registered Office
SOHO WORKS, 2, TELEVISION CENTRE
101 WOOD LANE
LONDON
W12 7FR
ENGLAND
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
The Sleep School Limited
Statement of financial position
as at 31 March 2023
Intangible assets
59,385
79,978
Cash at bank and in hand
145,039
143,890
Creditors: amounts falling due within one year
(203,168)
(235,620)
Net current assets
22,676
121,624
Total assets less current liabilities
82,595
201,913
Creditors: amounts falling due after more than one year
(97,270)
(107,029)
Net (liabilities)/assets
(14,675)
94,884
Called up share capital
100
100
Profit and loss account
(14,775)
94,784
Shareholders' funds
(14,675)
94,884
For the year ending 31 March 2023 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2023 and were signed on its behalf by
Adrian Baxter
Director
Company Registration No. 07742896
The Sleep School Limited
Notes to the Accounts
for the year ended 31 March 2023
The Sleep School Limited is a private company, limited by shares, registered in England and Wales, registration number 07742896. The registered office is SOHO WORKS, 2, TELEVISION CENTRE, 101 WOOD LANE, LONDON, W12 7FR, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
2 years useful life
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Amortisation has been charged over three years.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Expenditure on research and development is written off in the year in which it is incurred.
Research and development tax credit
During the financial year, Sleep School Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Income Statement in line with disclosure requirements under FRS 102.
The Sleep School Limited
Notes to the Accounts
for the year ended 31 March 2023
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
4
Intangible fixed assets
Other
Charge for the year
34,527
5
Tangible fixed assets
Computer equipment
The Sleep School Limited
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
Trade debtors
65,434
209,565
Accrued income and prepayments
15,371
3,056
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
9,761
32,643
Trade creditors
4,451
8,188
Taxes and social security
17,393
(640)
Loans from directors
7,443
(12,530)
Deferred income
152,338
169,236
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Creditors: amounts falling due after more than one year
2023
2022
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's Loan Accounts
7,530
43,658
60,124
(8,936)
Director's Loan Accounts
5,000
36,570
40,078
1,492
12,530
80,228
100,202
(7,444)
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Average number of employees
During the year the average number of employees was 2 (2022: 2).