Dream It Get IT Limited - Accounts to registrar (filleted) - small 18.2
Dream It Get IT Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 January 2019 |
| for |
| Dream It Get IT Limited |
| Dream It Get IT Limited (Registered number: 07717105) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Dream It Get IT Limited |
| Company Information |
| for the Year Ended 31 January 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 25 Castle Terrace |
| Edinburgh |
| EH1 2ER |
| Dream It Get IT Limited (Registered number: 07717105) |
| Balance Sheet |
| 31 January 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Share options reserve |
| Retained earnings | ( |
) | ( |
) |
| 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. |
| Dream It Get IT Limited (Registered number: 07717105) |
| Balance Sheet - continued |
| 31 January 2019 |
| 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 on by: |
| Dream It Get IT Limited (Registered number: 07717105) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2019 |
| 1. | STATUTORY INFORMATION |
| Dream It Get IT Limited is a |
| 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 |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements have been prepared on the going concern basis as the company has reviewed source of |
| funds for Financial Year 2019/2020 and concluded that it has sufficient funds to adequately cover this period. |
| Significant judgements and estimates |
| Preparing the financial statements may require the directors to make significant judgements and estimates. |
| There were no items in the financial statements where these judgements and estimates were required. |
| 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 |
| Intangible assets are software development and intellectual property. No depreciation is charged in the year as |
| software is still being developed. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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. |
| Dream It Get IT Limited (Registered number: 07717105) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2019 |
| 3. | ACCOUNTING POLICIES - continued |
| 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 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. |
| Research and development |
| Expenditure on 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 year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 February 2018 |
| Additions |
| At 31 January 2019 |
| NET BOOK VALUE |
| At 31 January 2019 |
| At 31 January 2018 |
| Dream It Get IT Limited (Registered number: 07717105) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2019 |
| 6. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 February 2018 |
| Additions |
| At 31 January 2019 |
| DEPRECIATION |
| At 1 February 2018 |
| Charge for year |
| At 31 January 2019 |
| NET BOOK VALUE |
| At 31 January 2019 |
| At 31 January 2018 |
| 7. | DEBTORS |
| 2019 | 2018 |
| £ | £ |
| Amounts falling due within one year: |
| Other debtors |
| VAT |
| Prepayments and accrued income |
| Amounts falling due after more than one year: |
| Deferred tax asset |
| Aggregate amounts |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 9. | OPTION SHARE-BASED SCHEME |
| An Enterprise Management Incentive Option Scheme is in place in respect of 3 employees. At the balance sheet |
| date, the total number of shares in the scheme is 17,604 with an option price of £0.87 per share expiring on 30 |
| June 2020. |