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REGISTERED NUMBER: 08414530 (England and Wales)












DESTINY AUTOMATE LTD

Unaudited Financial Statements

for the Year Ended 31 December 2023






DESTINY AUTOMATE LTD (REGISTERED NUMBER: 08414530)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DESTINY AUTOMATE LTD

Company Information
for the Year Ended 31 December 2023







Directors: Ms J Arthur
J Van Rymenant





Secretary:





Registered office: Np-105 Icentre
Howard Way
Newport Pagnell
Milton Keynes
MK16 9PY





Registered number: 08414530 (England and Wales)





Accountants: Outsource-FD Limited t/a eFM
NP-105, iCentre
Howard Way
Newport Pagnell
Milton Keynes
Buckinghamshire
MK16 9PY

DESTINY AUTOMATE LTD (REGISTERED NUMBER: 08414530)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
Fixed assets
Intangible assets 4 2,293,000 59,688
Tangible assets 5 34,349 22,341
2,327,349 82,029

Current assets
Debtors 6 1,596,918 1,976,368
Prepayments and accrued income - 23,089
Cash in hand 691,492 994,858
2,288,410 2,994,315
Creditors
Amounts falling due within one year 7 1,053,719 805,075
Net current assets 1,234,691 2,189,240
Total assets less current liabilities 3,562,040 2,271,269

Capital and reserves
Called up share capital 1 1
Retained earnings 3,562,039 2,271,268
3,562,040 2,271,269

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:



Ms J Arthur - Director


DESTINY AUTOMATE LTD (REGISTERED NUMBER: 08414530)

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

1. Statutory information

Destiny Automate Ltd 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

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 are depreciation over 3 years (Straight Line)

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.

3. Employees and directors

The average number of employees during the year was 45 (2022 - 28 ) .

DESTINY AUTOMATE LTD (REGISTERED NUMBER: 08414530)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1 January 2023 66,320
Additions 2,466,267
At 31 December 2023 2,532,587
Amortisation
At 1 January 2023 6,632
Charge for year 232,955
At 31 December 2023 239,587
Net book value
At 31 December 2023 2,293,000
At 31 December 2022 59,688

5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 January 2023 36,903
Additions 27,929
At 31 December 2023 64,832
Depreciation
At 1 January 2023 14,562
Charge for year 15,921
At 31 December 2023 30,483
Net book value
At 31 December 2023 34,349
At 31 December 2022 22,341

6. Debtors
31/12/23 31/12/22
£    £   
Amounts falling due within one year:
Trade debtors 1,399,601 878,244
Other debtors 197,317 297,676
1,596,918 1,175,920

DESTINY AUTOMATE LTD (REGISTERED NUMBER: 08414530)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. Debtors - continued
31/12/23 31/12/22
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings - 800,448

Aggregate amounts 1,596,918 1,976,368

7. Creditors: amounts falling due within one year
31/12/23 31/12/22
£    £   
Trade creditors 127,979 276,210
Amounts owed to group undertakings 261,450 -
Taxation and social security 383,795 364,485
Other creditors 280,495 164,380
1,053,719 805,075

8. Ultimate controlling party

During November 2023, Destiny UK Midco Ltd sold its investment in the company to Destiny For Service Providers AB. At 31 December 2023 the Company is a wholly owned subsidiary of Destiny For Service Providers AB which is incorporated in Sweden, the ultimate controlling party is therefore considered to be Destilink BV a company incorporated in Belgium.