Dreamscope Productions Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05470740 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

Dreamscope Productions Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

D J Hutchinson

REGISTERED OFFICE:

c/o Higsons

93 Market Street

Farnworth

Bolton

Lancashire

BL4 7NS

REGISTERED NUMBER:

05470740 (England and Wales)

ACCOUNTANTS:

Higsons Limited

Chartered Accountants

93 Market Street

Farnworth

Bolton

Lancashire

BL4 7NS

FIXED ASSETS

Intangible assets

2

4,948

9,515

Tangible assets

3

12,375

13,253

17,323

22,768

CURRENT ASSETS

Debtors

6,817

37,180

Cash at bank

8,262

7,740

15,079

44,920

CREDITORS

Amounts falling due within one year

58,689

63,135

NET CURRENT LIABILITIES

(43,610

)

(18,215

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(26,287

)

4,553

PROVISIONS FOR LIABILITIES

2,072

2,159

NET (LIABILITIES)/ASSETS

(28,359

)

2,394

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

(28,361

)

2,392

SHAREHOLDERS' FUNDS

(28,359

)

2,394

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 12 September 2016 and were signed by:

D J Hutchinson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the going concern basis which assumes that the company will

continue in operational existence for the foreseeable future. During the year the company suffered losses due to a

substantial bad debt and at the balance sheet date had liabilities in excess of it's assets. The director has been able

to secure some new contracts and is also hopeful that other proposed new ventures will be successful. The

director, who is the major creditor, has given assurances that, where possible, he will support the company

through it's difficulties. The director is confident, therefore, that, whilst further losses may yet be incurred, the

company will be able to meet it's liabilities as they fall due for the foreseeable future.

The validity of the going concern basis depends on the continuing support of the company's director. The

financial statements do not include any adjustments that would result if the support did not continue.

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).

Turnover

Turnover represents services provided in the period, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

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

-

25% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

45,670

AMORTISATION

At 1 January 2015

36,155

Amortisation for year

4,567

At 31 December 2015

40,722

NET BOOK VALUE

At 31 December 2015

4,948

At 31 December 2014

9,515

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

31,503

Additions

4,242

At 31 December 2015

35,745

DEPRECIATION

At 1 January 2015

18,250

Charge for year

5,120

At 31 December 2015

23,370

NET BOOK VALUE

At 31 December 2015

12,375

At 31 December 2014

13,253

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

2

Ordinary

£1

2