Dream Lab Studio Ltd 14256517 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is that of online advertising services Digita Accounts Production Advanced 6.30.9574.0 true 14256517 2023-10-01 2024-09-30 14256517 2024-09-30 14256517 core:RetainedEarningsAccumulatedLosses 2024-09-30 14256517 core:ShareCapital 2024-09-30 14256517 core:CurrentFinancialInstruments 2024-09-30 14256517 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 14256517 core:FurnitureFittingsToolsEquipment 2024-09-30 14256517 bus:SmallEntities 2023-10-01 2024-09-30 14256517 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 14256517 bus:FullAccounts 2023-10-01 2024-09-30 14256517 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 14256517 bus:RegisteredOffice 2023-10-01 2024-09-30 14256517 bus:Director1 2023-10-01 2024-09-30 14256517 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 14256517 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 14256517 core:OfficeEquipment 2023-10-01 2024-09-30 14256517 countries:EnglandWales 2023-10-01 2024-09-30 14256517 2023-09-30 14256517 core:FurnitureFittingsToolsEquipment 2023-09-30 14256517 2022-07-26 2023-09-30 14256517 2023-09-30 14256517 core:RetainedEarningsAccumulatedLosses 2023-09-30 14256517 core:ShareCapital 2023-09-30 14256517 core:CurrentFinancialInstruments 2023-09-30 14256517 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 14256517 core:FurnitureFittingsToolsEquipment 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 14256517

Dream Lab Studio Ltd

Annual Report and Unaudited Financial Statements

For The Year Ended 30 September 2024

 

Dream Lab Studio Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Dream Lab Studio Ltd

(Registration number: 14256517)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

1,633

 

1,371

Current assets

   

 

Debtors

5

29,445

 

25,532

 

Cash at bank and in hand

 

25,854

 

25,681

 

 

55,299

 

51,213

 

Creditors: Amounts falling due within one year

6

(56,731)

 

(51,444)

 

Net current liabilities

   

(1,432)

 

(231)

Net assets

   

201

 

1,140

Capital and reserves

   

 

Called up share capital

1

 

1

 

Profit and loss account

200

 

1,139

 

Total equity

   

201

 

1,140

For the financial year ending 30 September 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 her 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 31 January 2025
 

.........................................
Miss L M McLoughlin
Director

 

Dream Lab Studio Ltd

Notes to the Unaudited Financial Statements For The Year Ended 30 September 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:
7 Bell Yard
London
WC2A 2JR
England

These financial statements were authorised for issue by the director on 31 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.

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 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.

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

Office Equipment

25% Straight Line

 

Dream Lab Studio Ltd

Notes to the Unaudited Financial Statements For The Year Ended 30 September 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.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

1,828

1,828

Additions

958

958

At 30 September 2024

2,786

2,786

Depreciation

At 1 October 2023

457

457

Charge for the year

696

696

At 30 September 2024

1,153

1,153

Carrying amount

At 30 September 2024

1,633

1,633

At 30 September 2023

1,371

1,371

 

Dream Lab Studio Ltd

Notes to the Unaudited Financial Statements For The Year Ended 30 September 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

-

18,961

Amounts owed by related parties

2,700

-

Prepayments

-

4,730

Other debtors

26,745

1,841

 

29,445

25,532

Included in other debtors is an amount of £21,321 (£1,840 2023) owed by the director, this amount is repaid within 9 months of the year end.

6

Creditors

2024
£

2023
£

Due within one year

Loans and borrowings

7,900

-

Amounts owed to related party

-

1,092

Taxation and social security

47,231

48,277

Other creditors

1,600

2,075

56,731

51,444

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

7,900

-