Abbreviated Company Accounts - DREAM IT GET IT LIMITED

DREAM IT GET IT LIMITED - Company Information

07717105 DREAM IT GET IT LIMITED 2016-01-31 false 2015-08-01 2016-01-31 true 07717105 2015-08-01 2016-01-31 07717105 2016-01-31 07717105 2015-07-31 07717105 uk-gaap-cd-bus:Director1 2015-08-01 2016-01-31 07717105 uk-gaap-cd-bus:Director2 2015-08-01 2016-01-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-08-01 2016-01-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-01-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-07-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-08-01 2016-01-31 uk-gaap-cd-bus:OrdinaryShareClass2 2016-01-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-07-31 iso4217:GBP shares

Registered Number 07717105

DREAM IT GET IT LIMITED

Abbreviated Accounts

31 January 2016

DREAM IT GET IT LIMITED Registered Number 07717105

Abbreviated Balance Sheet as at 31 January 2016

	Notes	31/01/2016	31/07/2015
		£	£
Fixed assets
Tangible assets	2	7,785	9,580
		7,785	9,580
Current assets
Debtors		17,449	16,105
Cash at bank and in hand		132,460	177,005
		149,909	193,110
Creditors: amounts falling due within one year		(89,131)	(36,479)
Net current assets (liabilities)		60,778	156,631
Total assets less current liabilities		68,563	166,211
Total net assets (liabilities)		68,563	166,211
Capital and reserves
Called up share capital	3	458	450
Share premium account		1,868,872	1,664,506
Profit and loss account		(1,800,767)	(1,498,745)
Shareholders' funds		68,563	166,211

For the year ending 31 January 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 16 February 2016

And signed on their behalf by:
D Libertalis, Director

DREAM IT GET IT LIMITED Registered Number 07717105

Notes to the Abbreviated Accounts for the period ended 31 January 2016

1Accounting Policies

Basis of measurement and preparation of accounts
These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis. The period's acknowledged loss of £302,022 was covered by the company's existing funds, additional equity capital of £204,368 and the receipt of £254,626 under the UK's Research & Development Tax Credit Scheme on the surrender of a portion of the company's losses from the previous year. The company has adequate funds to enable it to operate for the foreseeable future from current reserves, receipt of future tax credits and further equity investment into the company. If this position was to materially change, the board would take necessary action to ensure continued operation.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

2Tangible fixed assets

	£
Cost
At 1 August 2015	14,346
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 January 2016	14,346
Depreciation
At 1 August 2015	4,766
Charge for the year	1,795
On disposals	-
At 31 January 2016	6,561
Net book values
At 31 January 2016	7,785
At 31 July 2015	9,580

3Called Up Share Capital
Allotted, called up and fully paid:

	31/01/2016 £	31/07/2015 £
31,501 A Ordinary shares of £0.01 each	315	315
14,337 C Ordinary shares of £0.01 each (13,477 shares for 31/07/2015)	143	135

Each Ordinary "C" share carries the right to receive a dividend and the right to participate in a distribution, including a wind up, but does not carry the right to a vote. Ordinary "C" shares are not redeemable.

550 Ordinary "C" shares of £0.01 were issued to an existing investor, 78 were issued following the exercise of Option Shares vested from an Enterprise Management Inventive agreement and a further 232 Ordinary "C" shares were issued for services during the period.