Distinguished.World Ltd 12651295 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is Other activities of employment placement agency & temporary employment agency activities Digita Accounts Production Advanced 6.30.9574.0 true true 12651295 2022-07-01 2023-06-30 12651295 2023-06-30 12651295 bus:OrdinaryShareClass1 2023-06-30 12651295 bus:Original 2023-06-30 12651295 core:CurrentFinancialInstruments 2023-06-30 12651295 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 12651295 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-06-30 12651295 bus:SmallEntities 2022-07-01 2023-06-30 12651295 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 12651295 bus:FullAccounts 2022-07-01 2023-06-30 12651295 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 12651295 bus:RegisteredOffice 2022-07-01 2023-06-30 12651295 bus:Director1 2022-07-01 2023-06-30 12651295 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 12651295 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 12651295 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-07-01 2023-06-30 12651295 countries:EnglandWales 2022-07-01 2023-06-30 12651295 2021-07-01 2022-06-30 12651295 2022-06-30 12651295 bus:OrdinaryShareClass1 2022-06-30 12651295 core:CurrentFinancialInstruments 2022-06-30 12651295 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12651295

Distinguished.World Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Distinguished.World Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Distinguished.World Ltd

Company Information

Director

Katy O'Donnell

Registered office

Unit 1 Queens Head Chambers
16 St Johns Road
Clacton-On-Sea
England
CO15 4BS

Accountants

CityTrust Accounts Limited
17 Skelton Close
Lawford
Manningtree
Essex
CO11 2HT

 

Distinguished.World Ltd

(Registration number: 12651295)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

13,747

10,288

Cash at bank and in hand

 

30,790

3,471

 

44,537

13,759

Creditors: Amounts falling due within one year

5

(42,598)

(3,768)

Net assets

 

1,939

9,991

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

1,839

9,891

Shareholders' funds

 

1,939

9,991

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 March 2024
 

.........................................
Katy O'Donnell
Director

 

Distinguished.World Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

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

The address of its registered office is:
Unit 1 Queens Head Chambers
16 St Johns Road
Clacton-On-Sea
England
CO15 4BS
England

These financial statements were authorised for issue by the director on 28 March 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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Distinguished.World Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 13 (2022 - 4).

 

Distinguished.World Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Debtors

Note

2023
£

2022
£

Trade debtors

 

(30,097)

-

Amounts owed by related parties

8

5,304

-

Other debtors

 

15,715

2,847

Prepayments

 

1,400

166

Accrued income

 

21,425

7,275

 

13,747

10,288

 

Distinguished.World Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

2,644

-

Social security and other taxes

 

25,228

26

Outstanding defined contribution pension costs

 

7,627

-

Accruals

 

-

1,345

Income tax liability

7,099

2,397

 

42,598

3,768

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Share Capital of £1 each

100

100

100

100

         

7

Dividends

   

2023

 

2022

   

£

 

£

         
   

2023

 

2022

   

£

 

£

         

8

Related party transactions

 

Distinguished.World Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

598

-

Loans to related parties

2023

Key management
£

Total
£

Advanced

15,715

15,715

At end of period

15,715

15,715

 

Key management

2023
£

Advanced

15,715

At end of period

15,715