Dream Charter Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08498778

Dream Charter Limited

Filleted Financial Statements

31 December 2024

Dream Charter Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Dream Charter Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		20	331

Current assets

Debtors	7	212,797	154,159
Cash at bank and in hand		82,199	189,394
		---------	---------
		294,996	343,553

Creditors: amounts falling due within one year	8	891,050		896,136
		---------		---------
Net current liabilities			596,054	552,583
			---------	---------
Total assets less current liabilities			( 596,034)	( 552,252)

Creditors: amounts falling due after more than one year	9	3,750	12,750
		---------	---------
Net liabilities		( 599,784)	( 565,002)
		---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 599,785)	( 565,003)
	---------	---------
Shareholders deficit	( 599,784)	( 565,002)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mr G Vinson
Director

Company registration number: 08498778

Dream Charter Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 New Dover Road, Canterbury, Kent, CT1 3DN, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The Director has considered the basis of the preparation of the accounts and is satisfied that the accounts should be prepared on a going concern basis. The company has the ongoing support of the group and the parent company will continue to provide financial support for at least 12 months from the date of approval of these financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Development costs	-	25% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).

5. Intangible assets

	Development costs
	£
Cost
At 1 January 2024 and 31 December 2024	6,196
	-------
Amortisation
At 1 January 2024 and 31 December 2024	6,196
	-------
Carrying amount
At 31 December 2024	–
	-------
At 31 December 2023	–
	-------

6. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 January 2024 and 31 December 2024	1,240	1,240
	-------	-------
Depreciation
At 1 January 2024	909	909
Charge for the year	311	311
	-------	-------
At 31 December 2024	1,220	1,220
	-------	-------
Carrying amount
At 31 December 2024	20	20
	-------	-------
At 31 December 2023	331	331
	-------	-------

7. Debtors

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	195,551	111,383
Other debtors	17,246	42,776
	---------	---------
	212,797	154,159
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	9,000	9,000
Trade creditors	41,564	65,249
Amounts owed to group undertakings and undertakings in which the company has a participating interest	817,324	802,297
Social security and other taxes	6,874	7,186
Other creditors	16,288	12,404
	---------	---------
	891,050	896,136
	---------	---------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	3,750	12,750
	-------	--------

10. Summary audit opinion

The auditor's report dated 30 September 2025 was unqualified .

The senior statutory auditor was Robert Field FCA CTA , for and on behalf of Burgess Hodgson Audit Limited .

11. Related party transactions

At the year end the company was owed £153,572 (2023: £70,204) by a group company. At the year end the company was owed £41,179 (2023: £41,979) by a group company. At the year end the company owed £817,324 (2023: £802,297) to its parent company. At the year end, the company owed a Director £Nil (2023: £3,435).

12. Controlling party

The company is a wholly owned subsidiary of Dream Yacht Charter whose registered office is situated at Navitas House, Robinson Road, Floreal, Mauritius. The Ultimate Parent Company is PPF GROUP NV whose registered office is situated at Zuidplein 168, 1077 XV Amsterdam, The Netherlands .