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REGISTERED NUMBER: 11572219 (England and Wales)












Unaudited Financial Statements for the Year Ended 29 February 2024

for

Dream AI Limited

Dream AI Limited (Registered number: 11572219)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dream AI Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Ms E M Clark
Ms L K Clark
G S Powditch





REGISTERED OFFICE: 8-9 Market Chambers
Market Place
Ramsbottom, Bury
BL0 9AJ





REGISTERED NUMBER: 11572219 (England and Wales)





ACCOUNTANTS: Anthony Marshall Ltd
Chartered Accountants
70 Market Street
Tottington
Bury
Greater Manchester
BL8 3LJ

Dream AI Limited (Registered number: 11572219)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 428,254 409,637
Tangible assets 5 3,648 4,516
431,902 414,153

CURRENT ASSETS
Debtors 6 34,416 31,303
Cash at bank 295,370 442,329
329,786 473,632
CREDITORS
Amounts falling due within one year 7 97,525 85,020
NET CURRENT ASSETS 232,261 388,612
TOTAL ASSETS LESS CURRENT LIABILITIES 664,163 802,765

CREDITORS
Amounts falling due after more than one
year

8

33,333

38,889
NET ASSETS 630,830 763,876

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 630,829 763,875
630,830 763,876

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Dream AI Limited (Registered number: 11572219)

Balance Sheet - continued
29 February 2024


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 29 July 2024 and were signed on its behalf by:





Ms E M Clark - Director


Dream AI Limited (Registered number: 11572219)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Dream AI 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 (£).


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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% straight line

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.

Dream AI Limited (Registered number: 11572219)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

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 operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 March 2023 5,500 578,651 584,151
Additions - 164,623 164,623
Disposals - (9,012 ) (9,012 )
At 29 February 2024 5,500 734,262 739,762
AMORTISATION
At 1 March 2023 4,400 170,114 174,514
Charge for year 1,100 140,258 141,358
Eliminated on disposal - (4,364 ) (4,364 )
At 29 February 2024 5,500 306,008 311,508
NET BOOK VALUE
At 29 February 2024 - 428,254 428,254
At 28 February 2023 1,100 408,537 409,637

Dream AI Limited (Registered number: 11572219)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2023 11,613
Additions 1,347
At 29 February 2024 12,960
DEPRECIATION
At 1 March 2023 7,097
Charge for year 2,215
At 29 February 2024 9,312
NET BOOK VALUE
At 29 February 2024 3,648
At 28 February 2023 4,516

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 32,714 24,801
Other debtors 1,702 6,502
34,416 31,303

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 5,556 5,556
Trade creditors 43,059 33,864
Taxation and social security 22,501 20,927
Other creditors 26,409 24,673
97,525 85,020

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 33,333 38,889

9. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of E. M. Clark and G. S. Powditch, by virtue of their shareholdings and directorships. On 23rd March 2023 all the shareholders in Dream AI Limited transferred their shareholdings to Dream AI Holdings Limited (company number 14733885) on a share for share exchange. Consequently, from 23rd March 2023, Dream AI Limited is a 100% subsidiary of Dream AI Holdings Limited, and Dream AI Holdings Limited is under the ultimate control of E. M. Clark and G. S. Powditch.