Registration number: 12925271

New Direction (Home Improvements) Ltd

trading as Dream Doors Stockport

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

New Direction (Home Improvements) Ltd

trading as Dream Doors Stockport

(Registration number: 12925271)
Balance Sheet as at 31 October 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	5	4,620	9,240
Tangible assets	6	3,158	4,211
		7,778	13,451
Current assets
Stocks	7	21,723	17,364
Debtors	8	20,228	43,945
Cash at bank and in hand		15,160	26,399
		57,111	87,708
Creditors: Amounts falling due within one year	9	(48,419)	(56,710)
Net current assets		8,692	30,998
Total assets less current liabilities		16,470	44,449
Creditors: Amounts falling due after more than one year	9	-	(38,150)
Net assets		16,470	6,299
Capital and reserves
Called up share capital		1	1
Retained earnings		16,469	6,298
Shareholders' funds		16,470	6,299

New Direction (Home Improvements) Ltd

trading as Dream Doors Stockport

(Registration number: 12925271)
Balance Sheet as at 31 October 2024

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 June 2025
 

......................................... Mr Lee Walley Director

New Direction (Home Improvements) Ltd

trading as Dream Doors Stockport

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
20-22 Wenlock Road
London
N1 7GU
England

These financial statements were authorised for issue by the director on 17 June 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting 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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current 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.

New Direction (Home Improvements) Ltd

trading as Dream Doors Stockport

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the balance sheet 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 class	Depreciation method and rate
Fixtures and fittings	25% Reducing balance
Computer equipment	33% Cost

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Franchise fee	20% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined 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.

New Direction (Home Improvements) Ltd

trading as Dream Doors Stockport

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 5).

New Direction (Home Improvements) Ltd

trading as Dream Doors Stockport

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4	Profit before tax

Arrived at after charging/(crediting)

	2024 £	2023 £
Depreciation expense	1,053	1,530
Amortisation expense	4,620	4,620

5	Intangible assets

	Franchise fee £	Total £
Cost or valuation
At 1 November 2023	23,100	23,100
At 31 October 2024	23,100	23,100
Amortisation
At 1 November 2023	13,860	13,860
Amortisation charge	4,620	4,620
At 31 October 2024	18,480	18,480
Carrying amount
At 31 October 2024	4,620	4,620
At 31 October 2023	9,240	9,240

New Direction (Home Improvements) Ltd

trading as Dream Doors Stockport

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 November 2023	10,356	10,356
At 31 October 2024	10,356	10,356
Depreciation
At 1 November 2023	6,145	6,145
Charge for the year	1,053	1,053
At 31 October 2024	7,198	7,198
Carrying amount
At 31 October 2024	3,158	3,158
At 31 October 2023	4,211	4,211

7

Stocks

	2024 £	2023 £
Work in progress	21,723	17,364

New Direction (Home Improvements) Ltd

trading as Dream Doors Stockport

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

8

Debtors

	2024 £	2023 £
Trade debtors	-	5,070
Prepayments	2,250	4,826
Other debtors	17,978	34,049
	20,228	43,945

Current	2024 £	2023 £
Trade debtors	-	5,070
Prepayments	2,250	4,826
Other debtors	17,978	34,049
	20,228	43,945

9

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings		-	23,790
Trade creditors		16,525	7,499
Taxation and social security		16,351	12,813
Accruals and deferred income		15,543	12,806
Other creditors		-	(198)
		48,419	56,710

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings		-	38,150

New Direction (Home Improvements) Ltd

trading as Dream Doors Stockport

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

10	Related party transactions

Loan of £38,150 in other non-current financial liabilities is from family member bearing no specific terms of repayment and interest.

Transactions with the director

2024	At 1 November 2023 £	Advances to director £	Other payments made to company by director £	At 31 October 2024 £
Mr Lee Walley
Mr L Walley	34,049	33,113	(21,034)	46,129

2023	At 1 November 2022 £	Advances to director £	Repayments by director £	Other payments made to company by director £	At 31 October 2023 £
Mr Lee Walley
Mr L Walley	9,866	48,568	(1,221)	(23,165)	34,049