Light Dreams Assets Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 11522293 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

LIGHT DREAMS ASSETS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S Swaly

S A Ved

REGISTERED OFFICE:

38 Eton Avenue

Wembley

Middlesex

HA0 3AX

REGISTERED NUMBER:

11522293 (England and Wales)

FIXED ASSETS

Tangible assets

5

672

896

Investment property

6

3,390,744

3,391,416

3,391,640

CURRENT ASSETS

Debtors

7

40,986

17,376

Cash at bank

9,146

18,931

50,132

36,307

CREDITORS

Amounts falling due within one year

8

391,715

394,160

NET CURRENT LIABILITIES

(341,583

)

(357,853

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,049,833

3,033,787

CREDITORS

Amounts falling due after more than
one year

9

(2,162,991

)

(2,187,608

)

PROVISIONS FOR LIABILITIES

12

(21,511

)

(21,511

)

NET ASSETS

865,331

824,668

CAPITAL AND RESERVES

Called up share capital

13

100

Share premium

14

744,478

Retained earnings

14

120,753

80,090

SHAREHOLDERS' FUNDS

865,331

824,668

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 31 December 2025 and were signed on its behalf by:

S A Ved - Director

1.	STATUTORY INFORMATION

Light Dreams Assets 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable.

Revenue Recognition

Revenue from the properties is recognised on a rent receivable basis

Tangible fixed assets

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

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2024

and 31 March 2025

2,157

DEPRECIATION

At 1 April 2024

1,261

Charge for year

224

At 31 March 2025

1,485

NET BOOK VALUE

At 31 March 2025

672

At 31 March 2024

896

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

3,390,744

NET BOOK VALUE

At 31 March 2025

3,390,744

At 31 March 2024

3,390,744

In the opinion of the director, the fair value of the investment property as at 31 March 2025 is not significantly different to the stated above.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2021

113,217

Cost

3,277,527

3,390,744

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

Trade debtors

40,986

10,845

Prepayments

-

6,531

40,986

17,376

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

Trade creditors

13,135

13,061

Amounts owed to group undertakings

50,000

20,000

Directors' current accounts

325,580

358,099

Accrued expenses

3,000

391,715

394,160

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31/3/25

31/3/24

£

Bank loans (see note 10)

1,776,771

Other loans (see note 10)

386,220

410,837

2,162,991

2,187,608

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,776,771

Other loans more 5yrs instal

386,220

410,837

2,162,991

2,187,608

10.

LOANS

An analysis of the maturity of loans is given below:

31/3/25

31/3/24

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,776,771

Other loans more 5yrs instal

386,220

410,837

2,162,991

2,187,608

The bank loans are secured by a legal charge over the company's investment properties and by way of personal guarantees of the directors. The loans are interest only, fully repayable between 19 to 25 years period with the rate of interest charged ranging between 1.79% to 4.49% per annum, above the bank base rate.

11.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/25

31/3/24

£

Bank loans

1,776,771

12.	PROVISIONS FOR LIABILITIES

31/3/25

31/3/24

£

Deferred tax

21,511

Deferred tax

£

Balance at 1 April 2024

21,511

Balance at 31 March 2025

21,511

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/25

31/3/24

value:

£

100

Ordinary

1

100

14.

RESERVES

Retained

Share

earnings

premium

Totals

£

At 1 April 2024

80,090

744,478

824,568

Profit for the year

41,663

Dividends

(1,000

)

(1,000

)

At 31 March 2025

120,753

744,478

865,231

15.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year ended 31 March 2025, £325,580 (2024 - £358,099) was due to the directors of the company.

16.	RELATED PARTY DISCLOSURES

At the year ended 31 March 2025, £171,653 loan was due to Light Snow Properties Ltd, a company in which the director has beneficial interest.

At the year ended 31 March 2025, £214,567 loan was due to Eton Property Hub Ltd, a company in which the director's relatives have beneficial interest.

17.	ULTIMATE CONTROLLING PARTY

The directors are the ultimate controlling party by virtue of their shareholding in the company.