Dream Country Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 08261188 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2016

for

DREAM COUNTRY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

G J Harrison

R J Morss

SECRETARY:

Woodside Secretaries Limited

REGISTERED OFFICE:

59-60 Grosvenor Street

London

W1K 3HZ

REGISTERED NUMBER:

08261188 (England and Wales)

ACCOUNTANTS:

Shipleys LLP

Chartered Accountants

3 Godalming Business Centre

Woolsack Way

Godalming

Surrey

GU7 1XW

FIXED ASSETS

Intangible assets

2

196,755

170,229

Tangible assets

3

-

870

196,755

171,099

CURRENT ASSETS

Debtors

20,765

734

Cash at bank

545

570

21,310

1,304

CREDITORS

Amounts falling due within one year

114,012

69,105

NET CURRENT LIABILITIES

(92,702

)

(67,801

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

104,053

103,298

CAPITAL AND RESERVES

Called up share capital

4

150,200

Profit and loss account

(46,147

)

(46,902

)

SHAREHOLDERS' FUNDS

104,053

103,298

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 January 2017 and were signed on its behalf by:

G J Harrison - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Intangible assets

Intangible assets consist of one license amortised over 4.5 years and three licenses amortised over 3 years.

Research and development

Expenditure on the research phase of an internal project is recognised as an expense in the period in which it is

incurred. Development costs incurred on specific projects are capitalised when all the following conditions are

satisfied:

Completion of the asset is technically feasible so that it will be available for use or sale

The company intends to complete the asset and use or sell it

The company has the ability to use or sell the asset and the asset will generate probable future economic benefits

(over and above cost)

There are adequate technical, financial and other resources to complete the development and to use or sell the

asset, and

The expenditure attributable to the asset during its development can be measured reliably.

Development costs not meeting the criteria for capitalisation are expensed as incurred. The cost of an internally

generated asset comprises all directly attributable costs necessary to create, produce and prepare the asset to be

capable of operating in the manner intended by management. Directly attributable costs include employee costs

incurred along with third party costs.

Careful judgement by the directors is applied when deciding whether the recognition requirements for

development costs have been met. Judgements are based on the information available at each balance sheet date.

In addition, all internal activities related to the research and development of new projects are continuously

monitored by the directors.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

197,354

Additions

39,989

At 30 September 2016

237,343

AMORTISATION

At 1 October 2015

27,125

Amortisation for year

13,463

At 30 September 2016

40,588

NET BOOK VALUE

At 30 September 2016

196,755

At 30 September 2015

170,229

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

and 30 September 2016

3,477

DEPRECIATION

At 1 October 2015

2,607

Charge for year

870

At 30 September 2016

3,477

NET BOOK VALUE

At 30 September 2016

-

At 30 September 2015

870

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

30,000

B Ordinary

£5.00

150,100

150,000

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

10,000

A Ordinary

£0.01

100

10,000

C Ordinary

£0.01

-

100

200

The A,B & C Ordinary shares carry equal voting but different dividend rights.