ATOMIC DREAMS LIMITED
ATOMIC DREAMS LIMITED
Registered number: 05283601
Financial Statements
For The Year Ended 30 November 2017
Lichfield & Co.
Chartered Accountants
91 Sunnyhill Road
Streatham
London
SW16 2UG
ATOMIC DREAMS LIMITED
Financial Statements
For The Year Ended 30 November 2017
Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1 |
| Notes to the Financial Statements | 3—4 |
ATOMIC DREAMS LIMITED
Balance Sheet
As at
30 November 2017
Balance Sheet
Registered number:
05283601
For the year ending 30 November 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2017 | 2016 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 2 |
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| CURRENT ASSETS | |||||
| Debtors | 3 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (153,525) | (141,721) | |||
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Page 1
ATOMIC DREAMS LIMITED
Balance Sheet (continued)
As at
30 November 2017
The notes on pages 3 to 4 form part of these financial statements.
Page 2
ATOMIC DREAMS LIMITED
Notes to the Financial Statements
For The Year Ended 30 November 2017
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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| Office Equipment |
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1.4.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.
Tangible Assets
| Investment Properties | Fixtures & Fittings | Office Equipment | Total | |
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| £ | £ | £ | £ | |
| Cost | ||||
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| Additions | - |
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| Depreciation | ||||
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| Provided during the period | - |
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| Net Book Value | ||||
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Page 3
ATOMIC DREAMS LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2017
3.
Debtors
| 2017 | 2016 | ||
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| £ | £ | ||
| Due within one year | |||
| Other debtors |
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4.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Other creditors |
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| Accruals and deferred income |
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| Director's loan account |
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6.
Related Party Transactions
The company is controlled by Dr Waqaar Shah (who is also the Director). Dr Waqaar Shah and Kausar Shah, the mother of Dr Waqaar Shah equally own the shares of the company.
7.
General Information
ATOMIC DREAMS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 05283601 . The registered office is 89 Bennerley Road, London, SW11 6DT.
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