2022-09-012023-08-312023-08-31false06664789Sweet Dreamers 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Sweet Dreamers Limited

Registered Number
06664789
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

Sweet Dreamers Limited
Company Information
for the year from 1 September 2022 to 31 August 2023

Directors

Mr BC Harding
Mrs LJ Harding
Mr H Harding-Martin

Registered Address

2 Dukes Court
Bognor Road
Chichester
PO19 8FX

Registered Number

06664789 (England and Wales)
Sweet Dreamers Limited
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets46,8637,898
Investments5438,624-
445,4877,898
Current assets
Stocks612,596721,056
Debtors564,291530,239
Cash at bank and on hand1,285,6731,580,588
2,462,5602,831,883
Creditors amounts falling due within one year(614,226)(658,097)
Net current assets (liabilities)1,848,3342,173,786
Total assets less current liabilities2,293,8212,181,684
Provisions for liabilities(1,716)(1,974)
Net assets2,292,1052,179,710
Capital and reserves
Called up share capital200200
Profit and loss account2,291,9052,179,510
Shareholders' funds2,292,1052,179,710
The financial statements were approved and authorised for issue by the Board of Directors on 28 August 2024, and are signed on its behalf by:
Mr H Harding-Martin
Director
Mrs LJ Harding
Director

Registered Company No. 06664789
Sweet Dreamers Limited
Notes to the Financial Statements
for the year ended 31 August 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year77
3.Prior period adjustment
The accounts have been restated to account for the correction of VAT not reclaimed in prior accounting periods. The changes have resulted in profits available for distribution as at 31st August 2022 increasing after tax by £90,968. The retained profits brought forward as at 1st September 2021 have been adjusted as follows: Increase in retained profits: £54,394 Increase in debtors (VAT refund due): £67,153 Increase in creditors (Corporation Tax): £12,759 The previously reported 2022 accounts have been adjusted as follows; Decrease in advertising expense: £45,153 Increase in Tax charge: £8,579 Increase in debtors (VAT refund due): £45,153 Increase in creditors (Corporation Tax): £8,579
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 September 2233,305
Additions2,020
At 31 August 2335,325
Depreciation and impairment
At 01 September 2225,407
Charge for year3,055
At 31 August 2328,462
Net book value
At 31 August 236,863
At 31 August 227,898
5.Fixed asset investments

Total

£
Cost or valuation
Additions438,624
At 31 August 23438,624
Net book value
At 31 August 23438,624
At 31 August 22-
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Mrs LJ Harding154,09340,346169,43925,000
154,09340,346169,43925,000
The loans to the director are interest free.