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REGISTERED NUMBER: 07958427 (England and Wales)















Unaudited Financial Statements for the Year Ended 5 April 2024

for

Dreamy Hollow Leisure Limited

Dreamy Hollow Leisure Limited (Registered number: 07958427)

Contents of the Financial Statements
for the Year Ended 5 April 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Dreamy Hollow Leisure Limited (Registered number: 07958427)

Balance Sheet
5 April 2024

5.4.24 5.4.23
Notes £ £
Fixed assets
Tangible assets 5 223,142 205,931

Current assets
Stocks 401 416
Debtors 6 444 667
Cash at bank 14,764 9,409
15,609 10,492
Creditors
Amounts falling due within one year 7 (130,981 ) (115,205 )
Net current liabilities (115,372 ) (104,713 )
Total assets less current liabilities 107,770 101,218

Creditors
Amounts falling due after more than one year 8 (2,823 ) (3,811 )

Provisions for liabilities (10,850 ) (10,658 )
Net assets 94,097 86,749

Capital and reserves
Called up share capital 52,501 52,501
Retained earnings 41,596 34,248
94,097 86,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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.

Dreamy Hollow Leisure Limited (Registered number: 07958427)

Balance Sheet - continued
5 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





Mr N J Day - Director


Dreamy Hollow Leisure Limited (Registered number: 07958427)

Notes to the Financial Statements
for the Year Ended 5 April 2024


1. Statutory information

Dreamy Hollow Leisure Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07958427

Registered office: 37 Wesley Road
North Wootton
King's Lynn
Norfolk
PE30 3XA

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% p.a. reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items. Net realisable value is calculated at the lower of cost or selling price less cost to complete.

Dreamy Hollow Leisure Limited (Registered number: 07958427)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Dreamy Hollow Leisure Limited (Registered number: 07958427)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


3. Accounting policies - continued
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.

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.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Dreamy Hollow Leisure Limited (Registered number: 07958427)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


3. Accounting policies - continued

Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employees and directors

The average number of employees during the year was 2 (2023 - 4 ) .

Dreamy Hollow Leisure Limited (Registered number: 07958427)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


5. Tangible fixed assets
Freehold Plant and
property machinery Totals
£ £ £
Cost or valuation
At 6 April 2023 198,714 17,794 216,508
Additions 16,404 2,097 18,501
At 5 April 2024 215,118 19,891 235,009
Depreciation
At 6 April 2023 - 10,577 10,577
Charge for year - 1,290 1,290
At 5 April 2024 - 11,867 11,867
Net book value
At 5 April 2024 215,118 8,024 223,142
At 5 April 2023 198,714 7,217 205,931

Cost or valuation at 5 April 2024 is represented by:

Freehold Plant and
property machinery Totals
£ £ £
Valuation in 2014 35,000 - 35,000
Valuation in 2015 35,000 - 35,000
Valuation in 2016 (20,000 ) - (20,000 )
Cost 165,118 19,891 185,009
215,118 19,891 235,009

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

5.4.24 5.4.23
£ £
Cost 165,118 148,714

Freehold land and buildings were valued on an open market basis on 5 April 2015 by Messrs Russen & Turner .

6. Debtors: amounts falling due within one year
5.4.24 5.4.23
£ £
Other debtors 444 667

Dreamy Hollow Leisure Limited (Registered number: 07958427)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


7. Creditors: amounts falling due within one year
5.4.24 5.4.23
£ £
Bank loans and overdrafts 1,494 2,000
Trade creditors 154 -
Taxation and social security 1,532 26
Other creditors 127,801 113,179
130,981 115,205

8. Creditors: amounts falling due after more than one year
5.4.24 5.4.23
£ £
Bank loans 2,823 3,811