It's a solid entry, although it's difficult to make a good horror game in a jam. Good use of sounds and the monster design is pretty cool, especially if you did that on your own.
I was a bit confused about what to do, but apparently you win by surviving enough times in the dream world. The flashlight didn't seem to affect the gameplay that much, I was able to get around without it as well. I expected it would affect the monster in some way, as the note said. But all in all, it's a good job!