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REGISTERED NUMBER: 05361526 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 August 2023

for

DISTINCTIVE WORLD TRAVEL LIMITED

DISTINCTIVE WORLD TRAVEL LIMITED (REGISTERED NUMBER: 05361526)






Contents of the Financial Statements
for the year ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DISTINCTIVE WORLD TRAVEL LIMITED

Company Information
for the year ended 31 August 2023







DIRECTORS: S J Hyde
D S Benians
M L Bride





SECRETARY: S J Hyde





REGISTERED OFFICE: c/o MGB Accountants - Suite 22
Trym Lodge, 1 Henbury Road
Westbury-on-Trym
Bristol
BS9 3HQ





REGISTERED NUMBER: 05361526 (England and Wales)





ACCOUNTANTS: Mitchell Glanville (Bristol) Limited
c/o MGB Accountants - Suite 22
Trym Lodge, 1 Henbury Road
Westbury-on-Trym
Bristol
BS9 3HQ

DISTINCTIVE WORLD TRAVEL LIMITED (REGISTERED NUMBER: 05361526)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,285 39,615
Investment property 5 115,000 115,000
158,285 154,615

CURRENT ASSETS
Debtors 6 726,066 1,420,698
Cash at bank 583,380 476,844
1,309,446 1,897,542
CREDITORS
Amounts falling due within one year 7 1,154,991 1,765,900
NET CURRENT ASSETS 154,455 131,642
TOTAL ASSETS LESS CURRENT
LIABILITIES

312,740

286,257

CREDITORS
Amounts falling due after more than one year 8 96,787 115,424
NET ASSETS 215,953 170,833

CAPITAL AND RESERVES
Called up share capital 10 39,331 39,331
Capital redemption reserve 669 669
Retained earnings 175,953 130,833
SHAREHOLDERS' FUNDS 215,953 170,833

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2024 and were signed on its behalf by:





S J Hyde - Director


DISTINCTIVE WORLD TRAVEL LIMITED (REGISTERED NUMBER: 05361526)

Notes to the Financial Statements
for the year ended 31 August 2023

1. STATUTORY INFORMATION

Distinctive World Travel Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents income from the sale of holidays and tours. Prior to the onset of Covid-19, the company recognised income at the date the tour commenced. Following the pandemic, and the resulting deferral of bookings, the directors deem it more appropriate to recognise income and profit at the date the tour is booked. This represents a change of accounting policy in the current financial period.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

DISTINCTIVE WORLD TRAVEL LIMITED (REGISTERED NUMBER: 05361526)

Notes to the Financial Statements - continued
for the year ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 68,912
Additions 6,921
At 31 August 2023 75,833
DEPRECIATION
At 1 September 2022 29,297
Charge for year 3,251
At 31 August 2023 32,548
NET BOOK VALUE
At 31 August 2023 43,285
At 31 August 2022 39,615

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 115,000
NET BOOK VALUE
At 31 August 2023 115,000
At 31 August 2022 115,000

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2021 25,202
Valuation in 2022 19,749
Cost 70,049
115,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 726,066 1,420,698

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,336 17,376
Taxation and social security 43,732 40,912
Other creditors 1,092,923 1,707,612
1,154,991 1,765,900

DISTINCTIVE WORLD TRAVEL LIMITED (REGISTERED NUMBER: 05361526)

Notes to the Financial Statements - continued
for the year ended 31 August 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 96,787 113,458
Other creditors - 1,966
96,787 115,424

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 115,123 130,834

Barclays Security Trustee Limited hold a fixed and floating charge over all property or undertaking of the Company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
39,331 Ordinary £1 39,331 39,331

11. ULTIMATE CONTROLLING PARTY

The company is under the control of S J Hyde, by virtue of his shareholding.