Dreamcoat Limited 08049749 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is to provide work, training and mentoring to the long term unemployed. Digita Accounts Production Advanced 6.30.9574.0 true true 08049749 2023-04-01 2024-03-31 08049749 2024-03-31 08049749 core:RetainedEarningsAccumulatedLosses 2024-03-31 08049749 core:ShareCapital 2024-03-31 08049749 core:CurrentFinancialInstruments 2024-03-31 08049749 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08049749 core:PlantMachinery 2024-03-31 08049749 bus:SmallEntities 2023-04-01 2024-03-31 08049749 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08049749 bus:FilletedAccounts 2023-04-01 2024-03-31 08049749 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08049749 bus:RegisteredOffice 2023-04-01 2024-03-31 08049749 bus:Director1 2023-04-01 2024-03-31 08049749 bus:Director2 2023-04-01 2024-03-31 08049749 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08049749 core:PlantMachinery 2023-04-01 2024-03-31 08049749 countries:EnglandWales 2023-04-01 2024-03-31 08049749 core:PlantMachinery 2023-03-31 08049749 2022-04-01 2023-03-31 08049749 2023-03-31 08049749 core:RetainedEarningsAccumulatedLosses 2023-03-31 08049749 core:ShareCapital 2023-03-31 08049749 core:CurrentFinancialInstruments 2023-03-31 08049749 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 08049749

Dreamcoat Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Dreamcoat Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Dreamcoat Limited

Company Information

Directors

M Bourne

N A J Palmer

Registered office

Spencer House
6 Morston court
Aisecome Way
Weston-super-Mare
North Somerset
BS22 8NG

Accountants

Burton Sweet Limited
Spencer House
6 Morston Court
Aisecome Way
Weston-super-Mare
North Somerset
BS22 8NG

 

Dreamcoat Limited

(Registration number: 08049749)
Balance Sheet
31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

1,090

480

Cash at bank and in hand

 

1,351

2,185

 

2,441

2,665

Creditors: Amounts falling due within one year

6

(35,867)

(38,740)

Net liabilities

 

(33,426)

(36,075)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(33,427)

(36,076)

Shareholders' deficit

 

(33,426)

(36,075)

 

Dreamcoat Limited

(Registration number: 08049749)
Balance Sheet
31 March 2024

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 November 2024 and signed on its behalf by:
 

.........................................
M Bourne
Director

 

Dreamcoat Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Spencer House
6 Morston court
Aisecome Way
Weston-super-Mare
North Somerset
BS22 8NG

The principal place of business is:
Joseph Studios
Unit 19 Barton Hill Trading Estate
Maze Street
Bristol
BS5 9TQ

These financial statements were authorised for issue by the Board on 27 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The Balance Sheet shows net liabilities for the year ended 31 March 2024 of £33,028 (2023 £36,075), however going concern is still appropriate. Dreamcoat Limited has the continued support of the directors and the bank.

 

Dreamcoat Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Straight Line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

Dreamcoat Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

4

Tangible assets

Plant and machinery
£

Cost or valuation

At 1 April 2023

1,625

At 31 March 2024

1,625

Depreciation

At 1 April 2023

1,625

At 31 March 2024

1,625

Carrying amount

At 31 March 2024

-

5

Debtors

2024
£

2023
£

Trade debtors

1,090

480

1,090

480

 

Dreamcoat Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

3,000

5,000

Taxation and social security

 

621

-

Accruals and deferred income

 

888

816

Other creditors

 

31,358

32,924

 

35,867

38,740