The Distant Point Partnership Company Limited 03723869 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the management of a timeshare property known as Distant Point. Members contribute mutually towards the current and future maintenance of the property for the purpose of their own occupation. Digita Accounts Production Advanced 6.30.9574.0 true true 03723869 2023-01-01 2023-12-31 03723869 2023-12-31 03723869 bus:OrdinaryShareClass1 2023-12-31 03723869 bus:PreferenceShareClass1 bus:CumulativeNon-redeemableShares 2023-12-31 03723869 core:CurrentFinancialInstruments 2023-12-31 03723869 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03723869 core:FurnitureFittingsToolsEquipment 2023-12-31 03723869 core:LandBuildings 2023-12-31 03723869 bus:SmallEntities 2023-01-01 2023-12-31 03723869 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03723869 bus:FullAccounts 2023-01-01 2023-12-31 03723869 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03723869 bus:RegisteredOffice 2023-01-01 2023-12-31 03723869 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 03723869 bus:Director2 2023-01-01 2023-12-31 03723869 bus:Director4 2023-01-01 2023-12-31 03723869 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 03723869 bus:PreferenceShareClass1 bus:CumulativeNon-redeemableShares 2023-01-01 2023-12-31 03723869 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03723869 core:OfficeEquipment 2023-01-01 2023-12-31 03723869 countries:England 2023-01-01 2023-12-31 03723869 2022-12-31 03723869 core:FurnitureFittingsToolsEquipment 2022-12-31 03723869 core:LandBuildings 2022-12-31 03723869 2022-01-01 2022-12-31 03723869 2022-12-31 03723869 bus:OrdinaryShareClass1 2022-12-31 03723869 bus:PreferenceShareClass1 bus:CumulativeNon-redeemableShares 2022-12-31 03723869 core:CurrentFinancialInstruments 2022-12-31 03723869 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 03723869 core:FurnitureFittingsToolsEquipment 2022-12-31 03723869 core:LandBuildings 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03723869

The Distant Point Partnership Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

The Distant Point Partnership Company Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

The Distant Point Partnership Company Limited

Company Information

Directors

Mr B J Marshall

Mr D Rogers

Mr C E Summers

Company secretary

Mr B J Marshall

Registered office

C/O Newsham Hanson
1-5 Bellevue Road
Clevedon
Somerset
BS21 7NP

Accountants

Newsham Hanson Accountants Limited
Accountants and Business Advisors
Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP

 

The Distant Point Partnership Company Limited

(Registration number: 03723869)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

159,889

159,889

Current assets

 

Debtors

5

1,623

3,023

Cash at bank and in hand

 

16,592

19,433

 

18,215

22,456

Creditors: Amounts falling due within one year

6

(19,152)

(21,628)

Net current (liabilities)/assets

 

(937)

828

Net assets

 

158,952

160,717

Capital and reserves

 

Called up share capital

7

165,000

165,000

Other reserves

5,000

5,000

Retained earnings

(11,048)

(9,283)

Shareholders' funds

 

158,952

160,717

For the financial year ending 31 December 2023 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 February 2024 and signed on its behalf by:
 

.........................................
Mr B J Marshall
Company secretary and director

 

The Distant Point Partnership Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
C/O Newsham Hanson
1-5 Bellevue Road
Clevedon
Somerset
BS21 7NP

These financial statements were authorised for issue by the Board on 20 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents service charges receivable for the year.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than freehold properties, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% straight line basis

 

The Distant Point Partnership Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

The Distant Point Partnership Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

159,889

5,513

165,402

At 31 December 2023

159,889

5,513

165,402

Depreciation

At 1 January 2023

-

5,513

5,513

At 31 December 2023

-

5,513

5,513

Carrying amount

At 31 December 2023

159,889

-

159,889

At 31 December 2022

159,889

-

159,889

Included within the net book value of land and buildings above is £159,889 (2022 - £159,889) in respect of freehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Trade debtors

-

1,200

Prepayments

1,623

1,823

 

1,623

3,023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to related parties

707

721

Other creditors

 

18,445

20,907

 

19,152

21,628

 

The Distant Point Partnership Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £2,500 each

50

125,000

50

125,000

Preference shares of £800 each

50

40,000

50

40,000

 

100

165,000

100

165,000