Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28false2022-03-01No description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07692178 2022-03-01 2023-02-28 07692178 2021-03-01 2022-02-28 07692178 2023-02-28 07692178 2022-02-28 07692178 c:Director1 2022-03-01 2023-02-28 07692178 d:PlantMachinery 2022-03-01 2023-02-28 07692178 d:PlantMachinery 2023-02-28 07692178 d:PlantMachinery 2022-02-28 07692178 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 07692178 d:FreeholdInvestmentProperty 2023-02-28 07692178 d:FreeholdInvestmentProperty 2022-02-28 07692178 d:CurrentFinancialInstruments 2023-02-28 07692178 d:CurrentFinancialInstruments 2022-02-28 07692178 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 07692178 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 07692178 d:ShareCapital 2023-02-28 07692178 d:ShareCapital 2022-02-28 07692178 d:RetainedEarningsAccumulatedLosses 2023-02-28 07692178 d:RetainedEarningsAccumulatedLosses 2022-02-28 07692178 c:FRS102 2022-03-01 2023-02-28 07692178 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 07692178 c:FullAccounts 2022-03-01 2023-02-28 07692178 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 07692178 d:OtherDeferredTax 2023-02-28 07692178 d:OtherDeferredTax 2022-02-28 iso4217:GBP xbrli:pure

Registered number: 07692178









OUR DREAM LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
OUR DREAM LIMITED
REGISTERED NUMBER: 07692178

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,095
1,533

Investment property
 5 
700,000
700,000

  
701,095
701,533

Current assets
  

Debtors: amounts falling due within one year
 6 
-
778

Cash at bank and in hand
 7 
75,298
43,452

  
75,298
44,230

Creditors: amounts falling due within one year
 8 
(444,081)
(439,001)

Net current liabilities
  
 
 
(368,783)
 
 
(394,771)

Total assets less current liabilities
  
332,312
306,762

Provisions for liabilities
  

Deferred tax
 9 
(45,330)
(45,330)

  
 
 
(45,330)
 
 
(45,330)

Net assets
  
286,982
261,432


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
286,882
261,332

  
286,982
261,432


Page 1

 
OUR DREAM LIMITED
REGISTERED NUMBER: 07692178
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 November 2023.




Jacek Biel
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
OUR DREAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Our Dream Limited is a private company limited by shares incorporated in England and Wales. The registered office is 124 Finchley Road, London, NW3 5JS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents rents receivable from investment properties. is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
OUR DREAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes purchase cost and any directly attributable expenditure.
Subsequently it is measured at fair value at the reporting end date. the surplus or deficit on revaluation is recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.
 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 4

 
OUR DREAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 March 2022
1,752



At 28 February 2023

1,752



Depreciation


At 1 March 2022
219


Charge for the year on owned assets
438



At 28 February 2023

657



Net book value



At 28 February 2023
1,095



At 28 February 2022
1,533

Page 5

 
OUR DREAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 March 2022
700,000



At 28 February 2023
700,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.

Included in the profit and loss reserve are undistributable revaluation gains against which deferred tax has been recorded. The net amount of undistributable reserves held in the profit and loss reserve are disclosed below.

2023
2022
£
£

Revaluation reserves


Net deficit in movement properties
237,008
237,008

At 28 February 2023
237,008
237,008

If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured at £417,028.





6.


Debtors

2023
2022
£
£


Prepayments and accrued income
-
778

-
778


Page 6

 
OUR DREAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
75,298
43,452

75,298
43,452



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,072
252

Corporation tax
6,096
3,926

Other creditors
431,913
431,913

Accruals and deferred income
3,000
2,910

444,081
439,001



9.


Deferred taxation




2023


£






At beginning of year
(45,330)



At end of year
(45,330)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Unrealised gains on investment property
(45,330)
(45,330)

(45,330)
(45,330)

Page 7

 
OUR DREAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

10.


Related party transactions

Included within other creditors, is an interest-free, unsecured loan of £372,248 (2022: £372,248) due to a director of the company.
Included within other creditors, is an interest-free, unsecured loan of £59,665 (2022: £59,665) due to a director of the company.

 
Page 8