The Wonderland Dream Factory Limited Company Accounts

THE WONDERLAND DREAM FACTORY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09305298

The Wonderland Dream Factory Limited

Filleted Unaudited Financial Statements

31 May 2017

The Wonderland Dream Factory Limited

Financial Statements

Year ended 31 May 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

The Wonderland Dream Factory Limited

Statement of Financial Position

31 May 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5	1,612	3,357
Investments	6	18,378	18,378
		--------	--------
		19,990	21,735

Current assets

Debtors	7	221,623	344,601
Cash at bank and in hand		39,409	24,191
		---------	---------
		261,032	368,792

Creditors: amounts falling due within one year	8	305,884		89,994
		---------		---------
Net current (liabilities)/assets			( 44,852)	278,798
			--------	---------
Total assets less current liabilities			( 24,862)	300,533

Creditors: amounts falling due after more than one year	9	–	321,183
		--------	---------
Net liabilities		( 24,862)	( 20,650)
		--------	---------

Capital and reserves

Called up share capital	10	10
Profit and loss account	( 24,872)	( 20,660)
	--------	--------
Shareholders deficit	( 24,862)	( 20,650)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

The Wonderland Dream Factory Limited

Statement of Financial Position (continued)

31 May 2017

These financial statements were approved by the board of directors and authorised for issue on 27 February 2018 , and are signed on behalf of the board by:

Mr J J Pisano

Director

Company registration number: 09305298

The Wonderland Dream Factory Limited

Notes to the Financial Statements

Year ended 31 May 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equity House, 128-136 High Street, Edgware, Middlesex, HA8 7TT, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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 a fixed rate of exchange. Exchange differences are taken into account at arriving at the operating profit.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and Fittings	-	20% straight line
Equipment	-	20% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2016: 12 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 June 2016 and 31 May 2017	2,990	2,460	5,450
	-------	-------	-------
Depreciation
At 1 June 2016	1,163	930	2,093
Charge for the year	920	825	1,745
	-------	-------	-------
At 31 May 2017	2,083	1,755	3,838
	-------	-------	-------
Carrying amount
At 31 May 2017	907	705	1,612
	-------	-------	-------
At 31 May 2016	1,827	1,530	3,357
	-------	-------	-------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 June 2016 and 31 May 2017	18,378
	--------
Impairment
At 1 June 2016 and 31 May 2017	–
	--------

Carrying amount
At 31 May 2017	18,378
	--------
At 31 May 2016	18,378
	--------

The company owns 100% of the issued share capital of the companies listed below,

The Dream Factory Film Advertising GmbH

Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.

7. Debtors

	2017	2016
	£	£
Trade debtors	141,964	265,048
Amounts owed by group undertakings and undertakings in which the company has a participating interest	75,659	56,951
Other debtors	4,000	22,602
	---------	---------
	221,623	344,601
	---------	---------

8. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	68,850	74,108
Social security and other taxes	10,908	14,586
Other creditors	226,126	1,300
	---------	--------
	305,884	89,994
	---------	--------

9. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	321,183
	----	---------

10. Controlling party

Made In Wonderland Limited , a company incorporated in England & Wales, had a 75.1% interest in the share capital of the company at the year end, and was regarded as the ultimate holding company.

11. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 June 2015.

No transitional adjustments were required in equity or profit or loss for the year.