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REGISTERED NUMBER: 03776162 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 June 2024

for

Destination Events Ltd.

Destination Events Ltd. (Registered number: 03776162)






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




Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Income Statement 4

Statement of Financial Position 5

Notes to the Financial Statements 6


Destination Events Ltd.

Company Information
for the Year Ended 30 June 2024







DIRECTORS: R C Bone
G Bone





SECRETARY: R C Bone





REGISTERED OFFICE: Endeavour House
78 Stafford Road
Wallington
Surrey
SM6 9AY





REGISTERED NUMBER: 03776162 (England and Wales)





ACCOUNTANTS: PB Partners LLP
Endeavour House
78 Stafford Road
Wallington
Surrey
SM6 9AY

Destination Events Ltd. (Registered number: 03776162)

Report of the Directors
for the Year Ended 30 June 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was the organisation of promotional events.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

R C Bone
G Bone

CHARITABLE DONATIONS AND EXPENDITURE
During the year the company made various charitable donations totalling £50,925 (2023 £50,327).

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





R C Bone - Director


26 March 2025

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Destination Events Ltd.


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Destination Events Ltd. for the year ended 30 June 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Destination Events Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Destination Events Ltd. and state those matters that we have agreed to state to the Board of Directors of Destination Events Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Destination Events Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Destination Events Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Destination Events Ltd.. You consider that Destination Events Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Destination Events Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






PB Partners LLP
Endeavour House
78 Stafford Road
Wallington
Surrey
SM6 9AY


26 March 2025

Destination Events Ltd. (Registered number: 03776162)

Income Statement
for the Year Ended 30 June 2024

2024 2023
Notes £    £   

TURNOVER 11,467,337 8,476,459

Cost of sales 8,664,984 5,752,978
GROSS PROFIT 2,802,353 2,723,481

Administrative expenses 2,516,189 1,609,966
286,164 1,113,515

Other operating income 301 -
OPERATING PROFIT 4 286,465 1,113,515

Interest receivable and similar income - (164 )
PROFIT BEFORE TAXATION 286,465 1,113,351

Tax on profit 98,501 241,610
PROFIT FOR THE FINANCIAL YEAR 187,964 871,741

Destination Events Ltd. (Registered number: 03776162)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 41,424 53,786
41,424 53,786

CURRENT ASSETS
Debtors 6 631,878 930,000
Cash in hand 955,628 750,699
1,587,506 1,680,699
CREDITORS
Amounts falling due within one year 7 1,446,341 1,465,626
NET CURRENT ASSETS 141,165 215,073
TOTAL ASSETS LESS CURRENT
LIABILITIES

182,589

268,859

PROVISIONS FOR LIABILITIES 11,086 12,920
NET ASSETS 171,503 255,939

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 170,503 254,939
SHAREHOLDERS' FUNDS 171,503 255,939

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:



R C Bone - Director


Destination Events Ltd. (Registered number: 03776162)

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

1. STATUTORY INFORMATION

Destination Events 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.

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.

Turnover
Turnover represents net invoiced sales, excluding value added tax. The company recognises revenue when it is probable that future economic benefit will flow to the entity and when specific criteria have been met.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Office equipment - 20% per annum on reducing balance
Fixtures and fittings - 10% per annum on reducing balance
Computer equipment - 25% per annum on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation (where items are remeasured). Foreign exchange gains and losses resulting from the settlement of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement, except when deferred in other comprehensive income as qualifying cash flow hedges and qualifying net investment hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the income statement within ‘finance income or costs’. All other foreign exchange gains and losses are presented in the income statement within ‘Other (losses)/gains – net’.

Destination Events Ltd. (Registered number: 03776162)

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

2. ACCOUNTING POLICIES - continued

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.
Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Destination Events Ltd. (Registered number: 03776162)

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

2. ACCOUNTING POLICIES - continued

Financial assets
The company classifies its financial assets in the following categories: at fair value through profit or loss; loans and receivables; and available for sale. The classification depends on the purpose for which the financial assets were acquired. Management determines the classification of its financial assets at initial recognition.

(a) Financial assets at fair value through profit or loss
Financial assets at fair value through profit or loss are financial assets held for trading. A financial asset is classified in this category if acquired principally for the purpose of selling in the short term. Derivatives are also categorised as held for trading, unless they are designated as hedges. Assets in this category are classified as current assets if expected to be settled within 12 months, otherwise they are classified as non-current.

(b) Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are included in current assets, except for maturities greater than 12 months after the end of the reporting period. These are classified as non-current assets. The group’s loans and receivables comprise ‘trade and other receivables’ and ‘cash and cash equivalents’in the balance sheet.

(c) Available-for-sale financial assets
Available-for-sale financial assets are non-derivatives that are either designated in this category or not classified in any of the other categories. They are included in non-current assets unless the investment matures or management intends to dispose of it within 12 months of the end of the reporting period.

Recognition and measurement
Regular purchases and sales of financial assets are recognised on the trade date – that is, the date on which the company commits to purchase or sell the asset. Investments are initially recognised at fair value plus transaction costs for all financial assets not carried at fair value through profit or loss. Financial assets carried at fair value through profit or loss are initially recognised at fair value, and transaction costs are expensed in the income statement. Financial assets are derecognised when the rights to receive cash flows from the investments have expired or have been transferred, and the company has transferred substantially all risks and rewards of ownership. Available-for-sale financial assets and financial assets at fair value through profit or loss are subsequently carried at fair value. Loans and receivables are subsequently carried at amortised cost using the effective interest method.

Gains or losses arising from changes in the fair value of the ‘financial assets at fair value through profit or loss’ category are presented in the income statement within ‘Other (losses)/gains – net’ in the period in which they arise.

Changes in the fair value of monetary and non-monetary securities classified as available for sale are recognised in other comprehensive income. When securities classified as available for sale are sold or impaired, the accumulated fair value adjustments recognised in equity are included in the income statement as ‘Gains and losses from investment securities’. Interest on available-for-sale securities, calculated using the effective interest method, is recognised in the income statement as part of finance income. Dividends on available-for-sale equity instruments are recognised in the income statement as part of other income when the company’s right to receive payments is established.

Offsetting financial instruments
Financial assets and liabilities are offset, and the net amount is reported in the balance sheet, when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events, and it must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the company or the counterparty.

Going concern
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern. In the directors' opinion this is appropriate as they have confirmed that they will continue to support the company for at least the next twelve months and have the financial resources to do so.

Destination Events Ltd. (Registered number: 03776162)

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 12 (2023 - 12 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 11,383 7,939

5. TANGIBLE FIXED ASSETS
Fixtures
Office and Computer
equipment fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 2,195 72,136 110,105 184,436
Additions - - 3,664 3,664
Disposals (1,409 ) (12,471 ) (11,372 ) (25,252 )
At 30 June 2024 786 59,665 102,397 162,848
DEPRECIATION
At 1 July 2023 1,710 43,351 85,589 130,650
Charge for year 89 5,240 6,054 11,383
Eliminated on disposal (1,183 ) (10,397 ) (9,029 ) (20,609 )
At 30 June 2024 616 38,194 82,614 121,424
NET BOOK VALUE
At 30 June 2024 170 21,471 19,783 41,424
At 30 June 2023 485 28,785 24,516 53,786

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 182,977 199,874
Amounts owed by parent company 308,638 268,522
Other debtors 47,699 237,734
Directors' current accounts - 152,747
Corporation tax 23,615 23,615
Social security and other taxes 65,569 47,508
Prepayments and accrued income 3,380 -
631,878 930,000

Destination Events Ltd. (Registered number: 03776162)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 446,867 169,542
Amounts owed to parent company 52,160 14,160
Corporation tax 100,335 147,320
Social security and other taxes 23,264 20,539
Other creditors 822,910 1,114,065
Directors' current accounts 805 -
1,446,341 1,465,626

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
G Bone
Balance outstanding at start of year 70,745 (414 )
Amounts advanced 34,167 71,159
Amounts repaid (105,080 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (168 ) 70,745

R C Bone
Balance outstanding at start of year 82,002 (6,227 )
Amounts advanced 61,756 88,229
Amounts repaid (144,395 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (637 ) 82,002

9. RELATED PARTY DISCLOSURES

The directors, R C Bone and G Bone, are also directors and shareholders of Destination Events (Holdings) Limited, which wholly owns the company.

During the year the following transactions were made by the company with Destination Events (Holdings) Limited :

2024 2023
£ £
Management charges 56,000 56,000


At the balance sheet date £308,638 was due from (2023: £268,522) Destination Events (Holdings) Limited.

The directors, R C Bone and G Bone, are also directors and shareholders of Creswick Properties Limited. At the balance sheet date £52,160 was owed to (2023: £14,160) Creswick Properties Limited.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by R C Bone.