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REGISTERED NUMBER: 08613737 (England and Wales)






Wildest Dreams Limited

Financial Statements

for the Year Ended 31 July 2023






Wildest Dreams Limited (Registered number: 08613737)

Contents of the Financial Statements
for the year ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wildest Dreams Limited

Company Information
for the year ended 31 July 2023







DIRECTORS: G A Johnson
Z C Howard





REGISTERED OFFICE: 4 - 6 Station Road
Crossgates
Leeds
West Yorkshire
LS15 7JX





REGISTERED NUMBER: 08613737 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Wildest Dreams Limited (Registered number: 08613737)

Balance Sheet
31 July 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,560 22,035
18,560 22,035

CURRENT ASSETS
Stocks 6,800 5,500
Debtors 6 23,192 21,503
Cash at bank and in hand 17,785 12,747
47,777 39,750
CREDITORS
Amounts falling due within one year 7 47,507 52,772
NET CURRENT ASSETS/(LIABILITIES) 270 (13,022 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,830

9,013

CREDITORS
Amounts falling due after more than one
year

8

(2,214

)

(4,424

)

PROVISIONS FOR LIABILITIES (2,450 ) (2,690 )
NET ASSETS 14,166 1,899

Wildest Dreams Limited (Registered number: 08613737)

Balance Sheet - continued
31 July 2023

2023 2022
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 14,066 1,799
SHAREHOLDERS' FUNDS 14,166 1,899

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:




G A Johnson - Director



Z C Howard - Director


Wildest Dreams Limited (Registered number: 08613737)

Notes to the Financial Statements
for the year ended 31 July 2023


1. STATUTORY INFORMATION

Wildest Dreams Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£). All financial information presented has been rounded to the nearest £, unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the term of the lease
Equipment - at variable rates on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Wildest Dreams Limited (Registered number: 08613737)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company contributes towards a Workplace pension scheme. Contributions are charged to the profit and loss account in the period to which they relate.

Grants
Grants received in relation to capital expenditure are included within creditors and released to the profit and loss account in line with the depreciation charged on the relevant capital items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 August 2022
and 31 July 2023 89,783
AMORTISATION
At 1 August 2022
and 31 July 2023 89,783
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

Wildest Dreams Limited (Registered number: 08613737)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


5. TANGIBLE FIXED ASSETS
Improvements
to property Equipment Totals
£ £ £
COST
At 1 August 2022 16,143 35,518 51,661
Additions - 220 220
At 31 July 2023 16,143 35,738 51,881
DEPRECIATION
At 1 August 2022 10,389 19,237 29,626
Charge for year 1,615 2,080 3,695
At 31 July 2023 12,004 21,317 33,321
NET BOOK VALUE
At 31 July 2023 4,139 14,421 18,560
At 31 July 2022 5,754 16,281 22,035

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 3,582 4,806
Other debtors 323 356
Directors' current accounts 14,764 12,738
Prepayments and accrued income 4,523 3,603
23,192 21,503

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 7,723 17,007
Tax 18,675 12,836
Social security and other taxes 170 802
VAT 14,202 13,883
Accruals and deferred income 4,527 6,034
Deferred supplier grants 2,210 2,210
47,507 52,772

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Deferred supplier grants
released in 2 - 5 yrs. 2,214 4,424
2,214 4,424

Wildest Dreams Limited (Registered number: 08613737)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 20,000 20,000
Between one and five years 50,000 70,000
70,000 90,000

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£ £
Z C Howard
Balance outstanding at start of year 6,810 7,790
Amounts advanced 30,060 28,120
Amounts repaid (29,734 ) (29,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,136 6,810

G A Johnson
Balance outstanding at start of year 5,928 2,527
Amounts advanced 38,812 41,880
Amounts repaid (37,112 ) (38,479 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,628 5,928

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £40,000 (2022 - £40,000) were paid to the directors .