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Registered number: NI677828
Dream Designs Group Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Roulston Jardine Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: NI677828
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 32,034 32,520
32,034 32,520
CURRENT ASSETS
Stocks 5 8,000 2,500
Cash at bank and in hand 2,754 1,428
10,754 3,928
Creditors: Amounts Falling Due Within One Year 7 (41,830 ) (28,156 )
NET CURRENT ASSETS (LIABILITIES) (31,076 ) (24,228 )
TOTAL ASSETS LESS CURRENT LIABILITIES 958 8,292
NET ASSETS 958 8,292
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 858 8,192
SHAREHOLDERS' FUNDS 958 8,292
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Herbert Bell
Director
02/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dream Designs Group Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI677828 . The registered office is First Floor, 3 Gallows Street, Dromore, BT25 1BG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 12.5% Straight Line
Motor Vehicles 20% Straight Line
Computer Equipment 20% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 26,564 10,666 6,292 43,522
Additions - 13,783 - 13,783
Disposals - (10,667 ) - (10,667 )
As at 31 March 2024 26,564 13,782 6,292 46,638
Depreciation
As at 1 April 2023 5,038 3,734 2,230 11,002
Provided during the period 3,321 2,756 1,258 7,335
Disposals - (3,733 ) - (3,733 )
As at 31 March 2024 8,359 2,757 3,488 14,604
Net Book Value
As at 31 March 2024 18,205 11,025 2,804 32,034
As at 1 April 2023 21,526 6,932 4,062 32,520
5. Stocks
2024 2023
£ £
Stock 8,000 2,500
6. Debtors
2024 2023
£ £
Due within one year
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 21,916 8,779
Taxation and social security 19,914 19,377
41,830 28,156
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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