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Registration number: 06740089

Dreambase Studios Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Dreambase Studios Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Dreambase Studios Limited

Company Information

Director

Mr A D Hudd

Registered office

Bowman House Bowman Court
Whitehill Lane
Royal Wootton Bassett
Swindon
SN4 7DB

Accountants

Simply Bookkeeping Ltd
9 Bowman House
Whitehill Lane industrial Estate
Royal Wootton Bassett
Swindon
Wiltshire
SN4 7DB

 

Dreambase Studios Limited

(Registration number: 06740089)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

17

34

Tangible assets

5

15,592

12,925

 

15,609

12,959

Current assets

 

Debtors

6

1,509

4,560

Cash at bank and in hand

 

19,963

5,421

 

21,472

9,981

Creditors: Amounts falling due within one year

7

(47,629)

(48,143)

Net current liabilities

 

(26,157)

(38,162)

Total assets less current liabilities

 

(10,548)

(25,203)

Creditors: Amounts falling due after more than one year

7

(2,745)

(4,190)

Provisions for liabilities

(2,966)

(2,551)

Net liabilities

 

(16,259)

(31,944)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(16,359)

(32,044)

Shareholders' deficit

 

(16,259)

(31,944)

 

Dreambase Studios Limited

(Registration number: 06740089)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 January 2025
 

.........................................
Mr A D Hudd
Director

 

Dreambase Studios Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
Bowman House Bowman Court
Whitehill Lane
Royal Wootton Bassett
Swindon
SN4 7DB
England

These financial statements were authorised for issue by the director on 28 January 2025.

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.

The presentational currency of these financial statements is pound sterling rounded to the nearest whole number.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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 and deferred 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 income 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.

 

Dreambase Studios Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Fixtures and Fittings

15% on Cost

Motor Vehicles

25% Reducing Balance

Equipment

33% on Cost, 25% on Cost and 20% on Cost

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patent

10% on Cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Dreambase Studios Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

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

 

Dreambase Studios Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 May 2023

170

170

At 30 April 2024

170

170

Amortisation

At 1 May 2023

136

136

Amortisation charge

17

17

At 30 April 2024

153

153

Carrying amount

At 30 April 2024

17

17

At 30 April 2023

34

34

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

69,427

16,392

85,819

Additions

7,848

-

7,848

At 30 April 2024

77,275

16,392

93,667

Depreciation

At 1 May 2023

61,977

10,917

72,894

Charge for the year

3,812

1,369

5,181

At 30 April 2024

65,789

12,286

78,075

Carrying amount

At 30 April 2024

11,486

4,106

15,592

At 30 April 2023

7,450

5,475

12,925

 

Dreambase Studios Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

4,074

Prepayments

1,509

349

Other debtors

-

137

 

1,509

4,560

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

1,445

1,409

Trade creditors

 

(210)

5,635

Taxation and social security

 

2,144

23

Other creditors

 

44,250

41,076

 

47,629

48,143

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

2,745

4,190

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,745

4,190

Current loans and borrowings

2024
£

2023
£

Bank borrowings

1,445

1,409