REGISTERED NUMBER: 07584844 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2023 TO 29 SEPTEMBER 2024

FOR

DREAMWEAR LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

T K Nawaz

REGISTERED OFFICE:

11 Silver Street

Bedford

Bedfordshire

MK40 1SY

REGISTERED NUMBER:

07584844 (England and Wales)

ACCOUNTANTS:

MDG Business Associates Limited

Room 73

Wrest House

Wrest Park

Silsoe

Bedfordshire

MK45 4HR

FIXED ASSETS

Tangible assets

5

-

8,125

CURRENT ASSETS

Stocks

6

1,870

9,996

Debtors

7

-

115

Cash at bank

223

601

2,093

10,712

CREDITORS

Amounts falling due within one year

8

25,135

33,105

NET CURRENT LIABILITIES

(23,042

)

(22,393

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(23,042

)

(14,268

)

CREDITORS

Amounts falling due after more than one year

9

745

1,290

NET LIABILITIES

(23,787

)

(15,558

)

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

(23,788

)

(15,559

)

SHAREHOLDERS' FUNDS

(23,787

)

(15,558

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 September 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.

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 director and authorised for issue on 29 September 2025 and were signed by:

T K Nawaz - Director

1.	STATUTORY INFORMATION

Dreamwear Ltd 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.

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

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

The financial statements have been prepared under the historical cost convention.

The company meets its day to day working capital requirements through a loan from the director, which will enable the company to continue as a going concern.

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.

Improvements to property

-

20% on cost

Equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period 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.

Business bounce back loan scheme

The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak. The scheme helps small and medium sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. The government guarantees 100% for the loan and there are no fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% per annum.

4.	EMPLOYEES AND DIRECTORS

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

5.	TANGIBLE FIXED ASSETS

Improvements

to

property

Equipment

Totals

£

£

£

Cost

At 1 October 2023

12,410

1,235

13,645

Disposals

(12,410

)

(1,235

)

(13,645

)

At 29 September 2024

-

-

-

Depreciation

At 1 October 2023

4,964

556

5,520

Charge for period

7,446

679

8,125

Eliminated on disposal

(12,410

)

(1,235

)

(13,645

)

At 29 September 2024

-

-

-

Net book value

At 29 September 2024

-

-

-

At 30 September 2023

7,446

679

8,125

6.

STOCKS

2024

2023

£

£

Stocks

1,870

9,996

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Prepayments

-

115

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

830

820

Director's loan account

24,305

32,285

25,135

33,105

In respect of the bank loan interest is being charged at 0% in the first year and 2.5% per annum thereafter.

The loan is 100% guaranteed by the government in line with the COVID scheme rules.

A debenture incorporating a legal mortgage and a fixed and floating charge over the assets and undertakings of the company is held in favour of a lender.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

745

1,290

The bank loan is due for repayment in more than 1 year from the balance sheet date with interest being charged at 0% in the first year and 2.5% per annum thereafter.

The loan is 100% guaranteed by the government in line with the COVID scheme rules.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

1

1

1

11.	RELATED PARTY DISCLOSURES