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REGISTERED NUMBER: 07060535 (England and Wales)










Dream Ski Limited

Unaudited Financial Statements

for the Year Ended 30 November 2024






Dream Ski Limited (Registered number: 07060535)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dream Ski Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: P J Scott
J M T Scott





SECRETARY: M G Paget





REGISTERED OFFICE: Latimer House
Bedham Road
Fittleworth
Pulborough
West Sussex
RH20 1JL





REGISTERED NUMBER: 07060535 (England and Wales)

Dream Ski Limited (Registered number: 07060535)

Balance Sheet
30 November 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 5 43,393 530

Current assets
Stocks 6 600 600
Debtors 7 72,145 88,175
Cash at bank 70,201 38,093
142,946 126,868
Creditors
Amounts falling due within one year 8 (594,195 ) (444,446 )
Net current liabilities (451,249 ) (317,578 )
Total assets less current liabilities (407,856 ) (317,048 )

Capital and reserves
Called up share capital 100 100
Retained earnings (407,956 ) (317,148 )
(407,856 ) (317,048 )

Dream Ski Limited (Registered number: 07060535)

Balance Sheet - continued
30 November 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 July 2025 and were signed on its behalf by:





P J Scott - Director


Dream Ski Limited (Registered number: 07060535)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Dream Ski Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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 company's functional and presentational currency is pound sterling.

SIGNIFICANT JUDGEMENTS AND 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.

TANGIBLE FIXED ASSETS
Tangible assets are stated in the statement of financial position 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 classDepreciation method and rate
Fixtures and fittings25% straight line basis
Motor vehicles25% straight line basis
Office equipment25% straight line basis

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost isdetermined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.


Dream Ski Limited (Registered number: 07060535)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

3. ACCOUNTING POLICIES - continued
TAXATION
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.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

GOING CONCERN
The financial statements have been prepared on a going concern.

REVENUE RECOGNITION
Turnover represents amounts chargeable, net of value added tax, of holidays departing in the period. Amounts received in advance are carried forward as deferred income until the accounting period in which the sale is recognised.

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.

CASH AND CASH EQUIVALENT
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.

TRADE DEBTORS
Trade debtors are amounts due from customers for services provided 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.

Dream Ski Limited (Registered number: 07060535)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

3. ACCOUNTING POLICIES - continued

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business of 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.

LEASES
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Dream Ski Limited (Registered number: 07060535)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2023 4,116 49,605 - 18,109 71,830
Additions - 20,765 24,685 - 45,450
At 30 November 2024 4,116 70,370 24,685 18,109 117,280
DEPRECIATION
At 1 December 2023 3,601 49,590 - 18,109 71,300
Charge for year 515 15 2,057 - 2,587
At 30 November 2024 4,116 49,605 2,057 18,109 73,887
NET BOOK VALUE
At 30 November 2024 - 20,765 22,628 - 43,393
At 30 November 2023 515 15 - - 530

6. STOCKS
2024 2023
£    £   
Stocks 600 600

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,388 32,263
Corporation tax control - 1,121
VAT 62,431 46,016
Deferred tax asset 3,326 8,775
72,145 88,175

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) - 13,723
Trade creditors (6,995 ) 10,285
Social security and other tax - 1,220
Other creditors 92,355 43,958
Directors' current accounts 506,831 366,464
Accruals and deferred income 2,004 8,796
594,195 444,446

Dream Ski Limited (Registered number: 07060535)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 13,723