REGISTERED NUMBER: 07717105 (England and Wales)

Unaudited Financial Statements for the Period 1 August 2023 to 31 January 2025

for

Dream It Get IT Limited

Trading as

Visii

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

5

625,000

2,171,910

Tangible assets

6

-

2,796

625,000

2,174,706

CURRENT ASSETS

Debtors

7

92,657

127,341

Cash at bank

5,002

818

97,659

128,159

CREDITORS

Amounts falling due within one year

8

547,055

440,065

NET CURRENT LIABILITIES

(449,396

)

(311,906

)

TOTAL ASSETS LESS CURRENT LIABILITIES

175,604

1,862,800

CREDITORS

Amounts falling due after more than one year

9

(18,024

)

(24,033

)

PROVISIONS FOR LIABILITIES

10

(67,602

)

(227,165

)

NET ASSETS

89,978

1,611,602

CAPITAL AND RESERVES

Called up share capital

1,041

1,030

Share premium

3,098,181

3,048,192

Share options reserve

8,651

8,651

Retained earnings

(3,017,895

)

(1,446,271

)

89,978

1,611,602

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2025 and were signed on its behalf by:

D Libertalis - Director

1.	STATUTORY INFORMATION

Dream It Get IT 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:

07717105

Registered office:

1-3 Worship Street

c/o Buckworth Solicitors

London

EC2A 2AB

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.

Going concern

The financial statements have been prepared on a going concern basis. At the balance sheet date, the company reported decreased net assets and increased net current liabilities, primarily due to an impairment review of the carrying value of intangible assets relating to capitalised development expenditure. The directors expect that this impairment may be reversed in future periods as markets develop.

Prior to the period end, the company undertook a reorganisation of its operations to improve efficiency and restore profitability. Since the year end, the directors have successfully renegotiated the majority of the company's current liabilities into long-term debt. Having reviewed the company's financial position, cash flow forecasts and post-year-end developments, the board is satisfied that the company has adequate resources to remain in operational existence for at least twelve months from the date of approval of these financial statements.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements and estimates that affect the amounts reported for assets and liabilities as at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

The determination of the carrying value of intangible assets requires judgement about the recoverability of costs from future income streams. The directors have assessed the recoverable amount based on current trading performance and projections and made appropriate adjustments.

Turnover

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

The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.

Intangible assets

The intangible assets relate to software development costs and intellectual property. Amortisation is provided for intangible assets over the estimated profit generating life of each asset. Amortisation is provided in line with the length of current patent protection licences remaining, this was deemed to be 10 years (July 2023, 12.0 years).

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, directors loan and bank loan.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

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.

Research and development

Expenditure on pure research and development is written off in the year in which it is incurred until a project reaches technological feasibility at which point further costs are capitalised then amortised over the expected commercial life of the software.

Pension costs and other post-retirement benefits

The company makes payments to personal pension plans. Contribution payable are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2023 - 5 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 August 2023

and 31 January 2025

2,509,106

AMORTISATION

At 1 August 2023

337,196

Charge for period

376,367

Impairments

1,170,543

At 31 January 2025

1,884,106

NET BOOK VALUE

At 31 January 2025

625,000

At 31 July 2023

2,171,910

Capitalised development costs include, software costs and licences with the majority of costs being apportionment of development related staff salaries and professional fees.

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2023

and 31 January 2025

16,407

DEPRECIATION

At 1 August 2023

13,611

Charge for period

2,796

At 31 January 2025

16,407

NET BOOK VALUE

At 31 January 2025

-

At 31 July 2023

2,796

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade debtors

6,096

25,716

Other debtors

86,561

99,893

VAT

-

1,732

92,657

127,341

Other debtors represents research & development tax credit claims.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Bank loans and overdrafts

4,475

34,958

Trade creditors

17,893

40,565

Taxation and social security

159,907

169,806

Other creditors

364,780

194,736

547,055

440,065

Included in other creditors are accrued wages owed to a director amounting to £337,844 (2023: £123,338)

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2023

£

£

Bank loans

18,024

24,033

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,000

8,009

10.	PROVISIONS FOR LIABILITIES

The deferred tax provision is £67,602 (July 2023: £227,165) This arises from tax allowances being claimed in advance of the asset amortisations and shown as being due after one year as it is now recognised that it is unlikely to reverse within the next year.

11.	OPTION SHARE-BASED SCHEME

An Enterprise Management Incentive Option Scheme is in place in respect of 4 (July 2023: 4) employees. At the balance sheet date, the total number of shares in the scheme is 13,390 (July 2023: 13,390) with option prices of £1.21, £0.97 and £0.87 per share to be exercised at the discretion of the employees.