Beds and mattresses manufacturer Sweet Dreams has reported a decline in sales.

According to its latest filed accounts for the year ended 31 March 2024, total sales fell 24% to £10.1m from £13.3m in 2023.

UK sales were down 24% from £12.9m to £9.8m, while EU revenues decreased 29% to £276,000 from £392,000.

Pre-tax losses resulted at £1m, widening from a loss of £215,000 recorded the previous year.

Stated within its report, Sweet Dreams said: “The company has had a difficult trading year with a reduction in turnover, with customer confidence a key factor.

“From January 2025, the parent company, Dreambase Ltd will cease to trade and all its expenditure will be met by Sweet Dreams (Nelson) Limited. For this reason, the amount owed by the parent company of £374k, which is unable to be paid due to there being insufficient assets in the parent, is provided for as an extraordinary item in the profit and loss account.

“The directors have introduced £400k into the business to support its cash flow, this to be repaid only when trading conditions have improved substantially.

“From a business perspective, a new model range has been developed alongside overall rebranding, and the activation of a significant number of dormant business to business accounts where incentives for floor placements have been set up. This has shown to be positive in encouraging new orders.”

Nick Williams, Sales Manager, added: “Following the successful company re-brand and the launch of a new bed range and bumper catalogue, we have an exponential number of new floor displays from over 100 Sweet Dreams customers. We are confident that the 2025 will continue to provide us with the continued growth as seen since the NBF Bed Show.”