IRIS Accounts Production v24.2.0.383 09682276 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh096822762023-06-30096822762024-06-30096822762023-07-012024-06-30096822762022-06-30096822762022-07-012023-06-30096822762023-06-3009682276ns15:EnglandWales2023-07-012024-06-3009682276ns14:PoundSterling2023-07-012024-06-3009682276ns10:Director12023-07-012024-06-3009682276ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3009682276ns10:SmallEntities2023-07-012024-06-3009682276ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3009682276ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3009682276ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3009682276ns10:FullAccounts2023-07-012024-06-3009682276ns5:CurrentFinancialInstruments2024-06-3009682276ns5:CurrentFinancialInstruments2023-06-3009682276ns5:Non-currentFinancialInstruments2024-06-3009682276ns5:Non-currentFinancialInstruments2023-06-3009682276ns5:ShareCapital2024-06-3009682276ns5:ShareCapital2023-06-3009682276ns5:RetainedEarningsAccumulatedLosses2024-06-3009682276ns5:RetainedEarningsAccumulatedLosses2023-06-3009682276ns10:RegisteredOffice2023-07-012024-06-3009682276ns5:PlantMachinery2023-06-3009682276ns5:PlantMachinery2023-07-012024-06-3009682276ns5:PlantMachinery2024-06-3009682276ns5:PlantMachinery2023-06-3009682276ns5:CostValuation2023-06-3009682276ns5:AdditionsToInvestments2024-06-3009682276ns5:CostValuation2024-06-3009682276ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-3009682276ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-30
REGISTERED NUMBER: 09682276 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

DESTINY FINANCE LTD

DESTINY FINANCE LTD (REGISTERED NUMBER: 09682276)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


DESTINY FINANCE LTD (REGISTERED NUMBER: 09682276)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,996 55,801
Investments 5 857,935 798,312
922,931 854,113

CURRENT ASSETS
Debtors 6 200 20,200
Cash at bank and in hand 257,299 54,276
257,499 74,476
CREDITORS
Amounts falling due within one year 7 595,122 427,306
NET CURRENT LIABILITIES (337,623 ) (352,830 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

585,308

501,283

CREDITORS
Amounts falling due after more than one year 8 (21,600 ) (75,284 )

PROVISIONS FOR LIABILITIES (14,929 ) (10,692 )
NET ASSETS 548,779 415,307

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 543,779 410,307
548,779 415,307

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

DESTINY FINANCE LTD (REGISTERED NUMBER: 09682276)

Balance Sheet - continued
30 June 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:





Jefta Madzingo - Director


DESTINY FINANCE LTD (REGISTERED NUMBER: 09682276)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Destiny Finance Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09682276

Registered office: Bromsgrove Business Centre
3 Grosvenor Gardens
Bromsgrove
B61 0EU

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

DESTINY FINANCE LTD (REGISTERED NUMBER: 09682276)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 103,083
Additions 30,332
At 30 June 2024 133,415
DEPRECIATION
At 1 July 2023 47,282
Charge for year 21,137
At 30 June 2024 68,419
NET BOOK VALUE
At 30 June 2024 64,996
At 30 June 2023 55,801

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023 798,312
Additions 59,623
At 30 June 2024 857,935
NET BOOK VALUE
At 30 June 2024 857,935
At 30 June 2023 798,312

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 200 20,200

DESTINY FINANCE LTD (REGISTERED NUMBER: 09682276)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 68,052 85,865
Other creditors 527,070 341,441
595,122 427,306

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 17,165 22,949
Other creditors 4,435 52,335
21,600 75,284

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The director loan account is £4,435 Creditor (£52,335 Creditor in 2023)

Dividends issued during the year = £70,000 (£50,000 in 2023)