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REGISTERED NUMBER: 04939093 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Destination Store Limited

Destination Store Limited (Registered number: 04939093)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Destination Store Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R C Burgess
P Carter





SECRETARY: P Carter





REGISTERED OFFICE: 74 Merton Close
Kidderminster
Worcestershire
DY10 3AF





REGISTERED NUMBER: 04939093 (England and Wales)





ACCOUNTANTS: Harris & Co
(The practising name of
Harris Accountants Limited)
1 Trinity Place
Midland Drive
Sutton Coldfield
B72 1 TX

Destination Store Limited (Registered number: 04939093)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
CURRENT ASSETS
Debtors 4 46,690 52,424
Cash at bank 389,548 438,265
436,238 490,689
CREDITORS
Amounts falling due within one year 5 35,548 93,309
NET CURRENT ASSETS 400,690 397,380
TOTAL ASSETS LESS CURRENT
LIABILITIES

400,690

397,380

CAPITAL AND RESERVES
Called up share capital 6 31,000 31,000
Retained earnings 369,690 366,380
SHAREHOLDERS' FUNDS 400,690 397,380

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.

Destination Store Limited (Registered number: 04939093)

Balance Sheet - continued
31 December 2023


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 11 September 2024 and were signed on its behalf by:





P Carter - Director


Destination Store Limited (Registered number: 04939093)

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


1. STATUTORY INFORMATION

Destination Store 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported for revenues and expenses during the year. However the nature of estimation means that actual outcomes could differ from those estimates.

Turnover
The company recognises revenue from the sale of services when all the following conditions are satisfied:-

(a) the company has transferred to the buyer the significant risks and rewards of ownership of the services;
(b) the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the services sold;
(c) the amount of revenue can be measured reliably;
(d) it is probable that the economic benefit associated with the transaction will flow to the company: and
(e) the costs incurred or to be incurred in respect of the transaction can be measured.

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.


Destination Store Limited (Registered number: 04939093)

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


2. ACCOUNTING POLICIES - continued
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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Cash and cash equivalents
Cash comprises cash in hand and demand deposits. Cash equivalents are short-term, highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with an insignificant risk of change in value.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 7,813 50,580
Amounts owed by group undertakings 36,883 -
Other debtors 1,994 1,844
46,690 52,424

Destination Store Limited (Registered number: 04939093)

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


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 23,986 23,754
Amounts owed to group undertakings - 63,430
Taxation and social security 25 25
Other creditors 11,537 6,100
35,548 93,309

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
30,000 Ordinary A £1 30,000 30,000
1,000 Ordinary B £1 1,000 1,000
31,000 31,000

The class B shares do not confer any voting rights on the holders.

On the winding up of the company, class B shareholders are entitled to receive for each share 0.025% of the sum in excess of £128,005.

7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R C Burgess.