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No description of principal activity
2022-10-01
Sage Accounts Production Advanced 2021 - FRS102_2021
1,558,639
258,530
1,817,169
345,934
235,683
581,617
1,235,552
1,212,705
9,281
2,423
928
3,351
5,930
6,858
xbrli:pure
xbrli:shares
iso4217:GBP
12125779
2022-10-01
2023-03-31
12125779
2023-03-31
12125779
2022-09-30
12125779
2022-04-01
2022-09-30
12125779
2022-09-30
12125779
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2022-10-01
2023-03-31
12125779
bus:Director5
2022-10-01
2023-03-31
12125779
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2022-09-30
12125779
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-03-31
12125779
core:WithinOneYear
2023-03-31
12125779
core:WithinOneYear
2022-09-30
12125779
core:AfterOneYear
2023-03-31
12125779
core:AfterOneYear
2022-09-30
12125779
core:ShareCapital
2023-03-31
12125779
core:ShareCapital
2022-09-30
12125779
core:SharePremium
2023-03-31
12125779
core:SharePremium
2022-09-30
12125779
core:RetainedEarningsAccumulatedLosses
2023-03-31
12125779
core:RetainedEarningsAccumulatedLosses
2022-09-30
12125779
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2022-09-30
12125779
bus:SmallEntities
2022-10-01
2023-03-31
12125779
bus:AuditExemptWithAccountantsReport
2022-10-01
2023-03-31
12125779
bus:FullAccounts
2022-10-01
2023-03-31
12125779
bus:SmallCompaniesRegimeForAccounts
2022-10-01
2023-03-31
12125779
bus:PrivateLimitedCompanyLtd
2022-10-01
2023-03-31
12125779
core:OfficeEquipment
2022-10-01
2023-03-31
12125779
core:OfficeEquipment
2023-03-31
12125779
core:OfficeEquipment
2022-09-30
COMPANY REGISTRATION NUMBER:
12125779
The Sleepexchange Limited |
|
Filleted Unaudited Financial Statements |
|
The Sleepexchange Limited |
|
Period from 1 October 2022 to 31 March 2023
Statement of financial position |
1 |
|
|
Notes to the financial statements |
3 |
|
|
The Sleepexchange Limited |
|
Statement of Financial Position |
|
31 March 2023
|
31 Mar 23 |
30 Sep 22 |
Note |
£ |
£ |
|
|
|
Fixed assets
Intangible assets |
5 |
1,235,552 |
1,212,705 |
Tangible assets |
6 |
5,930 |
6,858 |
|
------------ |
------------ |
|
1,241,482 |
1,219,563 |
|
|
|
|
Current assets
Debtors |
7 |
215,238 |
235,998 |
Cash at bank and in hand |
84,411 |
235,347 |
|
--------- |
--------- |
|
299,649 |
471,345 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
910,032 |
276,696 |
|
--------- |
--------- |
Net current (liabilities)/assets |
(
610,383) |
194,649 |
|
------------ |
------------ |
Total assets less current liabilities |
631,099 |
1,414,212 |
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
33,566 |
38,198 |
|
--------- |
------------ |
Net assets |
597,533 |
1,376,014 |
|
--------- |
------------ |
|
|
|
|
Capital and reserves
Called up share capital |
231 |
231 |
Share premium account |
3,729,939 |
3,729,939 |
Profit and loss account |
(
3,132,637) |
(
2,354,156) |
|
------------ |
------------ |
Shareholders funds |
597,533 |
1,376,014 |
|
------------ |
------------ |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
The Sleepexchange Limited |
|
Statement of Financial Position (continued) |
|
31 March 2023
These financial statements were approved by the
board of directors
and authorised for issue on
27 April 2023
, and are signed on behalf of the board by:
Company registration number:
12125779
The Sleepexchange Limited |
|
Notes to the Financial Statements |
|
Period from 1 October 2022 to 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Development costs |
- |
25% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
20% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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. 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.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
10
(2022:
11
).
5.
Intangible assets
|
Development costs |
|
£ |
Cost |
|
At 1 October 2022 |
1,558,639 |
Additions |
258,530 |
|
------------ |
At 31 March 2023 |
1,817,169 |
|
------------ |
Amortisation |
|
At 1 October 2022 |
345,934 |
Charge for the period |
235,683 |
|
------------ |
At 31 March 2023 |
581,617 |
|
------------ |
Carrying amount |
|
At 31 March 2023 |
1,235,552 |
|
------------ |
At 30 September 2022 |
1,212,705 |
|
------------ |
|
|
6.
Tangible assets
|
Equipment |
|
£ |
Cost |
|
At 1 October 2022 and 31 March 2023 |
9,281 |
|
------- |
Depreciation |
|
At 1 October 2022 |
2,423 |
Charge for the period |
928 |
|
------- |
At 31 March 2023 |
3,351 |
|
------- |
Carrying amount |
|
At 31 March 2023 |
5,930 |
|
------- |
At 30 September 2022 |
6,858 |
|
------- |
|
|
7.
Debtors
|
31 Mar 23 |
30 Sep 22 |
|
£ |
£ |
Trade debtors |
132 |
– |
Other debtors |
215,106 |
235,998 |
|
--------- |
--------- |
|
215,238 |
235,998 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
31 Mar 23 |
30 Sep 22 |
|
£ |
£ |
Bank loans and overdrafts |
9,173 |
8,941 |
Trade creditors |
196,628 |
189,044 |
Social security and other taxes |
68,420 |
22,360 |
Other creditors |
594,647 |
– |
Hotel creditors |
14,438
|
6,934 |
Other creditors |
26,726 |
49,417 |
|
--------- |
--------- |
|
910,032 |
276,696 |
|
--------- |
--------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
31 Mar 23 |
30 Sep 22 |
|
£ |
£ |
Bank loans and overdrafts |
33,566 |
38,198 |
|
-------- |
-------- |
|
|
|