Dreamlike State Limited (Formerly Iambob Ltd)
Unaudited Financial Statements
For the Year ended 30 November 2023
Pages for Filing with Registrar
Company Registration No. 08084915 (England and Wales)
Dreamlike State Limited (formerly Iambob Ltd)
Dreamlike State Limited (Formerly Iambob Ltd)
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Dreamlike State Limited (Formerly Iambob Ltd)
Balance Sheet
As at 30 November 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
-
0
1,976
Current assets
Debtors
5
24,350
9,791
Cash at bank and in hand
1,450
-
0
25,800
9,791
Creditors: amounts falling due within one year
6
(95,719)
(12,844)
Net current liabilities
(69,919)
(3,053)
Total assets less current liabilities
(69,919)
(1,077)
Creditors: amounts falling due after more than one year
7
-
0
(15,975)
Provisions for liabilities
-
0
(438)
Net liabilities
(69,919)
(17,490)
Capital and reserves
Called up share capital
8
101
101
Profit and loss reserves
(70,020)
(17,591)
Total equity
(69,919)
(17,490)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial 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.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Dreamlike State Limited (Formerly Iambob Ltd)
Balance Sheet (Continued)
As at 30 November 2023
Page 2
The financial statements were approved by the board of directors and authorised for issue on 13 September 2024 and are signed on its behalf by:
A  Sohpal
Director
Company Registration No. 08084915
Dreamlike State Limited (Formerly Iambob Ltd)
Notes to the Financial Statements
For the year ended 30 November 2023
Page 3
1
Accounting policies
Company information

Dreamlike State Limited (formerly Iambob Ltd) is a private company limited by shares incorporated in England and Wales. The registered office is 30-34 North Street, Hailsham, England, BN27 1DW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director has reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.true In addition, the Company’s ultimate parent company, Human Network Ltd, has indicated that for at least 12 months from the date of approval of these financial statements it will continue to make available such funds as are needed by the Company to continue in operational existence and to meet its liabilities as they fall due.

1.3
Turnover

Turnover is recognised to the extent that is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Rendering of services

 

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

 

 

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Dreamlike State Limited (Formerly Iambob Ltd)
Notes to the Financial Statements (Continued)
For the year ended 30 November 2023
1
Accounting policies
(Continued)
Page 4

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% on cost
Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Dreamlike State Limited (Formerly Iambob Ltd)
Notes to the Financial Statements (Continued)
For the year ended 30 November 2023
Page 5
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the Year was:

2023
2022
Number
Number
Total
1
1
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
3,817
23,160
26,977
Depreciation and impairment
At 1 December 2022
3,001
22,000
25,001
Depreciation charged in the Year
816
1,160
1,976
At 30 November 2023
3,817
23,160
26,977
Carrying amount
At 30 November 2023
-
0
-
0
-
0
At 30 November 2022
816
1,160
1,976
Dreamlike State Limited (Formerly Iambob Ltd)
Notes to the Financial Statements (Continued)
For the year ended 30 November 2023
Page 6
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
-
9,791
Prepayments and accrued income
24,350
-
0
24,350
9,791
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
15,975
9,243
Trade creditors
4,425
-
0
Amounts owed to group undertakings
67,939
-
0
Accruals and deferred income
7,380
3,601
95,719
12,844
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
-
0
15,975
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
101
101
101
101
9
Related party transactions

The company has taken exemption under section 33 Related Party Disclosures paragraph 33.1A from disclosing transactions with other members of a wholly owned group.

10
Parent company

The company was acquired by Smyle Creative Group Limited on 12 April 2023. Smyle Creative Group Limited was acquired by Human Network Ltd on 1 July 2024. The smallest and largest group undertaking in which the results of the company are consolidated is that headed by Human Network Ltd. The consolidated accounts are available to the public and at the registered office: 30-34 North Street, Hailsham, East Sussex, BN27 1DW.

 

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