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Registered number: 13734804
Destin4 Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
MATCH Accounting Limited
Portsmouth Technopole Kingston Crescent
Portsmouth
Hampshire
PO2 8FA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13734804
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 47,795 55,697
Investments 5 1 -
47,796 55,697
CURRENT ASSETS
Stocks 6 3,315 -
Debtors 7 32,270 20,598
Cash at bank and in hand 95,610 72,778
131,195 93,376
Creditors: Amounts Falling Due Within One Year 8 (131,678 ) (67,778 )
NET CURRENT ASSETS (LIABILITIES) (483 ) 25,598
TOTAL ASSETS LESS CURRENT LIABILITIES 47,313 81,295
Creditors: Amounts Falling Due After More Than One Year 9 (33,375 ) (39,375 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,082 ) (10,130 )
NET ASSETS 4,856 31,790
CAPITAL AND RESERVES
Called up share capital 10 400 300
Profit and Loss Account 4,456 31,490
SHAREHOLDERS' FUNDS 4,856 31,790
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ian Lee
Director
Mr Christopher Green
Director
21/02/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Destin4 Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13734804 . The registered office is 7 Dartmouth Buildings, Fort Fareham Industrial Estate, Fareham, Hampshire, PO14 1AH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Page 4
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 3)
7 3
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 49,635 1,523 6,279 57,437
Additions 1,612 1,565 4,349 7,526
As at 30 November 2024 51,247 3,088 10,628 64,963
Depreciation
As at 1 December 2023 - 290 1,450 1,740
Provided during the period 12,510 512 2,406 15,428
As at 30 November 2024 12,510 802 3,856 17,168
Net Book Value
As at 30 November 2024 38,737 2,286 6,772 47,795
As at 1 December 2023 49,635 1,233 4,829 55,697
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Page 5
5. Investments
Unlisted
£
Cost
As at 1 December 2023 -
Additions 1
As at 30 November 2024 1
Provision
As at 1 December 2023 -
As at 30 November 2024 -
Net Book Value
As at 30 November 2024 1
As at 1 December 2023 -
6. Stocks
2024 2023
as restated
£ £
Work in progress 3,315 -
7. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 29,955 2,550
Other debtors 2,315 18,048
32,270 20,598
8. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 2,208 838
Other loans 6,000 5,499
Other creditors 55,475 28,364
Taxation and social security 67,995 33,077
131,678 67,778
Page 5
Page 6
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Other loans 33,375 39,375
10. Share Capital
2024 2023
as restated
Allotted, called up and fully paid £ £
300 Ordinary Shares of £ 1.00 each - 300
100 Ordinary A shares of £ 1.00 each 100 -
100 Ordinary B shares of £ 1.00 each 100 -
100 Ordinary C shares of £ 1.00 each 100 -
100 Ordinary D shares of £ 1.00 each 100 -
400 300
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