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REGISTERED NUMBER: SC528187 (Scotland)















Dreamtime Community Arts Ltd

Financial Statements For The Year Ended 31 March 2024






Dreamtime Community Arts Ltd (Registered number: SC528187)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dreamtime Community Arts Ltd

Company Information
For The Year Ended 31 March 2024







DIRECTORS: Ms S Chiappa
Ms A McKay



REGISTERED OFFICE: 4 North Guildry Street
Elgin
Moray
IV30 1JR



REGISTERED NUMBER: SC528187 (Scotland)



ACCOUNTANTS: The Long Partnership
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: The Royal Bank of Scotland
209 High Street
Elgin
Moray
IV30 1DL

Dreamtime Community Arts Ltd (Registered number: SC528187)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,437 17,443

CURRENT ASSETS
Debtors 5 56,312 37,067
Cash at bank 12,487 6,656
68,799 43,723
CREDITORS
Amounts falling due within one year 6 66,225 42,960
NET CURRENT ASSETS 2,574 763
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,011

18,206

CREDITORS
Amounts falling due after more than one
year

7

(7,942

)

(14,309

)

PROVISIONS FOR LIABILITIES 8 (1,738 ) (2,474 )
NET ASSETS 1,331 1,423

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 1,231 1,323
SHAREHOLDERS' FUNDS 1,331 1,423

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 directors acknowledge their 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.

Dreamtime Community Arts Ltd (Registered number: SC528187)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:





Ms A McKay - Director


Dreamtime Community Arts Ltd (Registered number: SC528187)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Dreamtime Community Arts Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 5 (2023 - 4 ) .

Dreamtime Community Arts Ltd (Registered number: SC528187)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
Equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 14,050 5,721 21,218 1,351 42,340
Additions 2,081 - - 497 2,578
Disposals - - (21,218 ) - (21,218 )
At 31 March 2024 16,131 5,721 - 1,848 23,700
DEPRECIATION
At 1 April 2023 9,123 2,771 12,267 736 24,897
Charge for year 1,557 738 2,048 338 4,681
Eliminated on disposal - - (14,315 ) - (14,315 )
At 31 March 2024 10,680 3,509 - 1,074 15,263
NET BOOK VALUE
At 31 March 2024 5,451 2,212 - 774 8,437
At 31 March 2023 4,927 2,950 8,951 615 17,443

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 21,960 19,440
Other debtors 34,352 17,627
56,312 37,067

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 6,400 6,400
Taxation and social security 51,868 33,199
Other creditors 7,957 3,361
66,225 42,960

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 7,942 14,309

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 1,738 2,474

Dreamtime Community Arts Ltd (Registered number: SC528187)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 2,474
Provided during year (736 )
Balance at 31 March 2024 1,738

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary 1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2023 1,323
Profit for the year 89,908
Dividends (90,000 )
At 31 March 2024 1,231

11. CAPITAL COMMITMENTS
31.3.24 31.3.23
£    £   
Contracted but not provided for in the
financial statements 7,800 7,800

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £90,000 (2023 - £71,000) were paid to the directors .

As at 1 April 2023 one of the directors owed the company £554. During the year the company met expenses on behalf of this director totalling £11,241. At 31 March 2024 the director owed the company £11,795. This loan is interest free and has no fixed terms of repayment.

As at 1 April 2023 one of the directors owed the company £12,476. During the year the company met expenses on behalf of this director totalling £1,536. At 31 March 2024 the director owed the company £14,012. This loan is interest free and has no fixed terms of repayment.