Dream Duo Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12048765 (England and Wales)

DREAM DUO LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

13 JUNE 2019 TO 30 JUNE 2020

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Miss J M Williams

Ms B Nathwani

REGISTERED OFFICE:

Willow Ferns House

1a Claydown Way

Slip End

Luton

Bedfordshire

LU1 4DU

REGISTERED NUMBER:

12048765 (England and Wales)

ACCOUNTANTS:

Miller & Co

Chartered Accountants

5 Imperial Court

Laporte Way

Luton

Bedfordshire

LU4 8FE

FIXED ASSETS

Tangible assets

5

8,831

CURRENT ASSETS

Debtors

6

29,233

Cash at bank

68,176

97,409

CREDITORS

Amounts falling due within one year

7

79,475

NET CURRENT ASSETS

17,934

TOTAL ASSETS LESS CURRENT LIABILITIES

26,765

PROVISIONS FOR LIABILITIES

1,678

NET ASSETS

25,087

CAPITAL AND RESERVES

Called up, paid and allotted share capital

8

100

Retained earnings

24,987

SHAREHOLDERS' FUNDS

25,087

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 January 2021 and were signed on its behalf by:

Ms B Nathwani - Director

Miss J M Williams - Director

1.	STATUTORY INFORMATION

Dream Duo Limited 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.

The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

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.

Income recognition

Income is recognised when services have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

Additions

10,389

At 30 June 2020

10,389

DEPRECIATION

Charge for period

1,558

At 30 June 2020

1,558

NET BOOK VALUE

At 30 June 2020

8,831

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

29,233

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

50,000

Taxation and social security

25,248

Other creditors

4,227

79,475

8.

CALLED UP, PAID AND ALLOTTED SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

9.	RELATED PARTY DISCLOSURES

The directors operate loan accounts with the company. During the year, loans of £114,776 were provided to the company, of which £110,549 was repaid. At the year end the directors were owed £4,227.

10.

COVID-19

During the current accounting period the world was dramatically affected by the Covid-19 pandemic. The directors have reviewed the company's position at the balance sheet date and up to the date of signing these accounts and have concluded that there are no material post balance sheet event adjustments required to the carrying amounts of the company's assets and liabilities as a result of the pandemic. They also do not consider that there will be any material financial effect from the pandemic that will impact on the company's ability to continue as a going concern for a period of 12 months from the date of approval of these accounts.