DREAM & CO FICTIONS LTD |
Notes to the Accounts |
for the year ended 30 April 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Stocks |
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Stocks comprise film production costs, which are recorded as a current asset. Film production costs are amortised to the Statement of Income and Retained Earnings over the period in which rights to the relevant production are being exploited by the Company. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Financial instruments |
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The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabiities like trade and other debtors and creditors, and loan to related parties. |
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Going Concern |
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At the reporting date the company had net liabilites of £12,005 and is dependent on the support of its director who has confirmed her intention to support the company. As a result the director believes it is appropriate to prepare the accounts on the going concern basis. The financial statements do not include adjustments that would result from the withdrawal of this financial support. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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3 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Other debtors |
9 |
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- |
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4 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Other creditors |
16,657 |
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15,134 |
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5 |
Related party transactions |
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At the reporting date, £15,908 (2023: £14,134) was due to A Nakov, the director of the company. All transactions were carried out at arms length. The loan is repayable on demand and not interest bearing. |
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6 |
Controlling party |
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During the year, the company was under the control of A Nakov by virtue of her shareholding. |
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7 |
Other information |
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DREAM & CO FICTIONS LTD is a private company limited by shares and incorporated in England. Its registered office is: |
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31 Magdalene Street |
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Cambridge |
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Cambridgeshire |
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CB3 0AF |