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Company Registration No. 10671887 (England and Wales)
Dream Candle Ltd Unaudited Financial Statements for the year ended 28 March 2024
Dream Candle Ltd Unaudited Financial Statements Contents
Page
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Dream Candle Ltd Company Information for the year ended 28 March 2024
Director
Ms K F Lee
Company Number
10671887 (England and Wales)
Registered Office
Unit 1 Monks Pond Street Northampton NN1 2LF
Accountants
Adelita Shah Chartered Accountants Upton Farm Cottage Upton Northampton NN5 4UY
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Dream Candle Ltd Statement of financial position as at 28 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
1,639,273 
1,639,273 
Current assets
Cash at bank and in hand
2,412 
703 
Creditors: amounts falling due within one year
(1,454,201)
(1,442,090)
Net current liabilities
(1,451,789)
(1,441,387)
Total assets less current liabilities
187,484 
197,886 
Creditors: amounts falling due after more than one year
(247,018)
(247,018)
Net liabilities
(59,534)
(49,132)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(59,634)
(49,232)
Shareholders' funds
(59,534)
(49,132)
For the year ending 28 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 December 2024 and were signed on its behalf by
Ms K F Lee Director Company Registration No. 10671887
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Dream Candle Ltd Notes to the Accounts for the year ended 28 March 2024
1
Statutory information
Dream Candle Ltd is a private company, limited by shares, registered in England and Wales, registration number 10671887. The registered office is Unit 1, Monks Pond Street, Northampton, NN1 2LF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The total current assets exceed total current liabilities at year end. It is on this basis that the accounts have been prepared on a going concern basis. The director remains confident that the turnover will increase in the coming months.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Development costs are amortised evenly over their estimated useful life of five years.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Dream Candle Ltd Notes to the Accounts for the year ended 28 March 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 29 March 2023
25,026 
At 28 March 2024
25,026 
Amortisation
At 29 March 2023
25,026 
At 28 March 2024
25,026 
Net book value
At 28 March 2024
- 
5
Investment property
2024 
£ 
Fair value at 29 March 2023
1,639,273 
At 28 March 2024
1,639,273 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Loans from directors
1,451,775 
1,439,664 
Accruals
2,426 
2,426 
1,454,201 
1,442,090 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
247,018 
247,018 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Ms K F Lee
Directors Advances
1,439,664 
12,111 
- 
1,451,775 
1,439,664 
12,111 
- 
1,451,775 
During the year the balance of £1,451,775 is still owing to the director at the year end. It will be interest free.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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