BrightAccountsProduction v1.0.0 v1.0.0 2023-03-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The Principal activty of Dream Mentoring Ltd is consultancy services. 29 November 2024 NI676073 2024-02-29 NI676073 2023-02-28 NI676073 2022-02-28 NI676073 2023-03-01 2024-02-29 NI676073 2022-03-01 2023-02-28 NI676073 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 NI676073 uk-curr:PoundSterling 2023-03-01 2024-02-29 NI676073 uk-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 NI676073 uk-bus:FullAccounts 2023-03-01 2024-02-29 NI676073 uk-bus:Director1 2023-03-01 2024-02-29 NI676073 uk-bus:RegisteredOffice 2023-03-01 2024-02-29 NI676073 uk-bus:Agent1 2023-03-01 2024-02-29 NI676073 uk-core:ShareCapital 2024-02-29 NI676073 uk-core:ShareCapital 2023-02-28 NI676073 uk-core:RetainedEarningsAccumulatedLosses 2024-02-29 NI676073 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 NI676073 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-02-29 NI676073 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-02-28 NI676073 uk-bus:FRS102 2023-03-01 2024-02-29 NI676073 uk-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-03-01 2024-02-29 NI676073 uk-core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 NI676073 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 NI676073 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 NI676073 uk-core:CurrentFinancialInstruments 2024-02-29 NI676073 uk-core:CurrentFinancialInstruments 2023-02-28 NI676073 uk-core:WithinOneYear 2024-02-29 NI676073 uk-core:WithinOneYear 2023-02-28 NI676073 uk-core:EmployeeBenefits 2023-02-28 NI676073 uk-core:EmployeeBenefits 2023-03-01 2024-02-29 NI676073 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-02-29 NI676073 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-02-29 NI676073 uk-core:OtherDeferredTax 2024-02-29 NI676073 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-02-29 NI676073 uk-core:EmployeeBenefits 2024-02-29 NI676073 2023-03-01 2024-02-29 NI676073 uk-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI676073
 
 
Dream Mentoring Ltd
 
Unaudited Financial Statements
 
for the financial year ended 29 February 2024



Dream Mentoring Ltd
DIRECTOR AND OTHER INFORMATION

 
Director Tom Smyth
 
 
Company Registration Number NI676073
 
 
Registered Office and Business Address 64 Donegall Quay
Belfast
BT1 3NL
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT1 1PG



Dream Mentoring Ltd
Company Registration Number: NI676073
STATEMENT OF FINANCIAL POSITION
as at 29 February 2024

2024 2023
Notes £ £
 
Non-Current Assets
Intangible assets 4 15,000 -
Property, plant and equipment 5 1,445 2,022
───────── ─────────
Non-Current Assets 16,445 2,022
───────── ─────────
 
Current Assets
Receivables 6 33,624 158,904
Cash and cash equivalents 72,689 36,653
───────── ─────────
106,313 195,557
───────── ─────────
Payables: amounts falling due within one year 7 (82,288) (74,578)
───────── ─────────
Net Current Assets 24,025 120,979
───────── ─────────
Total Assets less Current Liabilities 40,470 123,001
 
Provisions for liabilities 9 (361) (8,205)
───────── ─────────
Net Assets 40,109 114,796
═════════ ═════════
 
Equity
Called up share capital 1 1
Retained earnings 40,108 114,795
───────── ─────────
Equity attributable to owners of the company 40,109 114,796
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.
           
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 29 November 2024
           
           
________________________________          
Tom Smyth          
Director          
           



Dream Mentoring Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 29 February 2024

   
1. General Information
 
Dream Mentoring Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI676073. The registered office of the company is 64 Donegall Quay, Belfast, BT1 3NL which is also the principal place of business of the company. The Principal activty of Dream Mentoring Ltd is consultancy services. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 29 February 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
Revenue comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
Intangible assets are valued at cost less accumulated amortisation.
 
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 10 years.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other receivables
Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Research and development
Development expenditure is written off in the same financial year unless the director are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
 
Exceptional item
Exceptional items are those that the directors' view are required to be separately disclosed by virtue of their size or incidence to enable a full understanding of the company's financial performance.
       
3. Employees
 
The average monthly number of employees, including Director, during the Financial year was 4.
 
  2024 2023
  Number Number
 
Director 1 1
Employee 3 -
  ───────── ─────────
  4 1
  ═════════ ═════════
       
4. Intangible assets
  Development  
  Costs Total
  £ £
Cost
At 1 March 2023 - -
Additions 16,667 16,667
  ───────── ─────────
At 29 February 2024 16,667 16,667
  ───────── ─────────
Amortisation
Charge for financial year 1,667 1,667
  ───────── ─────────
At 29 February 2024 1,667 1,667
  ───────── ─────────
Carrying amount
At 29 February 2024 15,000 15,000
  ═════════ ═════════
       
5. Property, plant and equipment
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost or Valuation
At 1 March 2023 2,886 2,886
  ───────── ─────────
 
At 29 February 2024 2,886 2,886
  ───────── ─────────
Depreciation
At 1 March 2023 864 864
Charge for the financial year 577 577
  ───────── ─────────
At 29 February 2024 1,441 1,441
  ───────── ─────────
Carrying amount
At 29 February 2024 1,445 1,445
  ═════════ ═════════
At 28 February 2023 2,022 2,022
  ═════════ ═════════
       
6. Receivables 2024 2023
  £ £
 
Trade receivables 5,655 -
Amounts owed by connected parties (Note 11) 6,412 61,412
Other debtors 21,557 50,057
Director's current account (Note ) - 47,435
  ───────── ─────────
  33,624 158,904
  ═════════ ═════════
       
7. Payables 2024 2023
Amounts falling due within one year £ £
 
Trade payables - 647
Amounts owed to connected parties (Note 11) - 30,001
Taxation  (Note 8) 79,186 43,930
Director's current account 102 -
Accruals 3,000 -
  ───────── ─────────
  82,288 74,578
  ═════════ ═════════
       
8. Taxation 2024 2023
  £ £
 
Payables:
VAT 29,998 34,755
Corporation tax 44,468 9,175
PAYE / NI 4,720 -
  ───────── ─────────
  79,186 43,930
  ═════════ ═════════
         
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 8,205 8,205 -
Charged to profit and loss (7,844) (7,844) 8,205
  ───────── ───────── ─────────
At financial year end 361 361 8,205
  ═════════ ═════════ ═════════
       
10. Capital commitments
 
The company had no material capital commitments at the financial year-ended 29 February 2024.
           
11. Related party transactions
  Balance Movement Balance Maximum
  2024 in year 2023 in year
  £ £ £ £
 
FDR Property Group Limited - (55,000) 55,000 55,000
Dream Apartments Belfast Limited 6,412 - 6,412 6,412
  ───────── ───────── ───────── ═════════
  6,412 (55,000) 61,412  
  ═════════ ═════════ ═════════  
 
The following amounts are due to other connected parties:
      2024 2023
      £ £
 
Dream Worldwide Ltd     - 30,001
      ═════════ ═════════
 
Net balances with other connected parties:
      2024 2023
      £ £
 
Dream Worldwide Ltd     - (30,001)
FDR Property Group Limited     - 55,000
Dream Apartments Belfast Limited     6,412 6,412
      ───────── ─────────
      6,412 31,411
      ═════════ ═════════
 
Tom Smyth is a director and shareholder of FDR Property Group Limited. He is also a director and shareholder of Dream Mentoring Ltd. As at 1st March 2023, FDR Property Group Limited owed Dream Mentoring Ltd £55,000. Net transactions between the two companies during the year amounted to £55,000. As at 29th February 2024, FDR Property Group Limited owes Dream Mentoring Ltd £nil.

Tom Smyth is a director and shareholder of Dream Worldwide Ltd. He is also a director and shareholder of Dream Mentoring Ltd. As at 1st March 2023, Dream Worldwide Ltd was owed £30,001 by Dream Mentoring Ltd. Net transactions between the two companies during the year amounted to £30,001. As at 29th February 2024, Dream Worldwide Ltd is owed £nil by Dream Mentoring Ltd.

Tom Smyth is a director and shareholder of Dream Apartments Belfast Limited. He is also a director and shareholder of Dream Apartments Belfast Limited. As at 1st March 2023, Dream Apartments Belfast Limited was owed £6,412 by Dream Mentoring Ltd. Net transactions between the two companies during the year amounted to £nil. As at 29th February 2024, Dream Apartments Belfast Limited is owed £6,412 by Dream Mentoring Ltd.
   
12. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.