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Registered Number: 10466682
England and Wales

 

 

 

DREAMS CARE HOMES (UK) LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of DREAMS CARE HOMES (UK) LIMITED for the year ended 30 November 2023 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of DREAMS CARE HOMES (UK) LIMITED, as a body, in accordance with the terms of our engagement letter dated 28 August 2024. Our work has been undertaken solely to prepare for your approval the accounts of DREAMS CARE HOMES (UK) LIMITED and state those matters that we have agreed to state to the Board ofs of DREAMS CARE HOMES (UK) LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DREAMS CARE HOMES (UK) LIMITED and its members as a body for our work or for this report.

It is your duty to ensure that DREAMS CARE HOMES (UK) LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Profit of DREAMS CARE HOMES (UK) LIMITED. You consider that DREAMS CARE HOMES (UK) LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of DREAMS CARE HOMES (UK) LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
SNP Plus Ltd
Accountants and Tax Advisors
284 Station Road
Harrow, London
HA1 2EA
28 August 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 4 318,167    401,167 
Tangible fixed assets 5 978,651    913,813 
1,296,818    1,314,980 
Current assets      
Stocks 942    952 
Debtors: amounts falling due within one year 712,172    740,761 
Cash at bank and in hand 386,716    152,461 
1,099,830    894,174 
Creditors: amount falling due within one year (645,687)   (554,706)
Net current assets 454,143    339,468 
 
Total assets less current liabilities 1,750,961    1,654,448 
Creditors: amount falling due after more than one year (1,436,623)   (1,443,384)
Provisions for liabilities (14,624)   (5,553)
Net assets 299,714    205,511 
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 299,614    205,411 
Shareholders' funds 299,714    205,511 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 28 August 2024 and were signed on its behalf by:


-------------------------------
Basanta Nepal
Director
-------------------------------
Bishwa Tara Ghimire
Director
2
General Information
DREAMS CARE HOMES (UK) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10466682, registration address PENTAX HOUSE, SOUTH HILL AVENUE, NORTHOLT ROAD , SOUTH HARROW, HA2 0DU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the
company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, and other taxes.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Motor Vehicles 20% Straight Line
Fixtures and Fittings 20% Straight Line
Computer Equipment 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Directors' Emoluments

2023   2022
 

3.

Average number of employees

Average number of employees during the year was 46 (2022 : 49).
4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2022 830,000    830,000 
Additions  
Disposals  
At 30 November 2023 830,000    830,000 
Amortisation
At 01 December 2022 428,833    428,833 
Charge for year 83,000    83,000 
On disposals  
At 30 November 2023 511,833    511,833 
Net book values
At 30 November 2023 318,167    318,167 
At 30 November 2022 401,167    401,167 


5.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 December 2022 900,031    3,409    10,000    176,874    2,798    1,093,112 
Additions       127,420      127,420 
Disposals          
At 30 November 2023 900,031    3,409    10,000    304,294    2,798    1,220,532 
Depreciation
At 01 December 2022   1,178    10,000    167,645    959    179,782 
Charge for year   681      60,859    559    62,099 
On disposals          
At 30 November 2023   1,859    10,000    228,504    1,518    241,881 
Net book values
Closing balance as at 30 November 2023 900,031    1,550      75,790    1,280    978,651 
Opening balance as at 01 December 2022 900,031    2,714      9,229    1,839    913,813 

Bank loan
The bank loans and overdrafts are secured by first legal charge over the freehold land and building and by a debenture over the other assets of the company. The loan is subject to commercial rate of interest. 

6.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

7.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Basanta Nepal675,676 787,592 
3