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REGISTERED NUMBER: 07059612 (England and Wales)



















DREAM HOMES HERTFORDSHIRE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






DREAM HOMES HERTFORDSHIRE LIMITED (REGISTERED NUMBER: 07059612)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


DREAM HOMES HERTFORDSHIRE LIMITED (REGISTERED NUMBER: 07059612)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,284 7,687

CURRENT ASSETS
Debtors 5 603 1,427
Cash at bank 1,022 15,420
1,625 16,847
CREDITORS
Amounts falling due within one year 6 75,408 40,235
NET CURRENT LIABILITIES (73,783 ) (23,388 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(67,499

)

(15,701

)

PROVISIONS FOR LIABILITIES 1,194 1,922
NET LIABILITIES (68,693 ) (17,623 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (68,695 ) (17,625 )
SHAREHOLDERS' FUNDS (68,693 ) (17,623 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

DREAM HOMES HERTFORDSHIRE LIMITED (REGISTERED NUMBER: 07059612)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 February 2025 and were signed by:





Mr S S Phull - Director


DREAM HOMES HERTFORDSHIRE LIMITED (REGISTERED NUMBER: 07059612)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Dream Homes Hertfordshire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07059612

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The director has a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director’s opinion, there are no significant judgements or key sources of estimation uncertainty.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

DREAM HOMES HERTFORDSHIRE LIMITED (REGISTERED NUMBER: 07059612)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

DREAM HOMES HERTFORDSHIRE LIMITED (REGISTERED NUMBER: 07059612)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 12,000 1,356 13,356
Additions - 665 665
At 31 March 2024 12,000 2,021 14,021
DEPRECIATION
At 1 April 2023 4,313 1,356 5,669
Charge for year 1,922 146 2,068
At 31 March 2024 6,235 1,502 7,737
NET BOOK VALUE
At 31 March 2024 5,765 519 6,284
At 31 March 2023 7,687 - 7,687

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 603 1,427

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 74,150 39,010
Other creditors 1,258 1,225
75,408 40,235

7. ULTIMATE CONTROLLING PARTY

Parent & Ultimate Parent Company
Dream Homes Hertfordshire Group Limited is regarded by the director as being the ultimate parent company.

Ultimate Controlling Party
The parent company is jointly controlled by Mr S.S. Phull and Mrs B.K. Phull.