REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
Destination Events (Holdings) Limited |
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
Destination Events (Holdings) Limited |
Destination Events (Holdings) Limited (Registered number: 07783340) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Statement of Financial Position | 4 |
Notes to the Financial Statements | 6 |
Destination Events (Holdings) Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Endeavour House |
78 Stafford Road |
Wallington |
Surrey |
SM6 9AY |
Destination Events (Holdings) Limited (Registered number: 07783340) |
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 that of was that of a holding company, providing management services to its trading subsidiary which organises 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. |
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: |
Destination Events (Holdings) Limited (Registered number: 07783340) |
Income Statement |
for the Year Ended 30 June 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Administrative expenses |
273,618 | (717 | ) |
Other operating income |
OPERATING PROFIT | 4 |
Interest payable and similar expenses |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL YEAR |
Destination Events (Holdings) Limited (Registered number: 07783340) |
Statement of Financial Position |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors: amounts falling due within one year | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings |
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 Events (Holdings) Limited (Registered number: 07783340) |
Statement of Financial Position - continued |
30 June 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Destination Events (Holdings) Limited (Registered number: 07783340) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Destination Events (Holdings) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 the cost less estimated residual value of each asset over its estimated useful life. |
Long leasehold - not provided |
Improvements to property - 10% per annum on reducing balance |
Fixtures and fittings - 20% per annum on reducing balance |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Destination Events (Holdings) Limited (Registered number: 07783340) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Freehold | Long | to | and |
property | leasehold | property | fittings | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
During the year ended 30 June 2016, one of the directors, RC Bone, revalued the long leasehold by £430,420 to reflect its fair value of £1,000,000. It had previously been recorded at historical cost of £569,580. |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Social security and other taxes |
Prepayments and accrued income |
Destination Events (Holdings) Limited (Registered number: 07783340) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Directors' current accounts | 445,738 | 445,738 |
Accruals and deferred income |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 July 2023 |
Cash share issue | (26,458 | ) |
At 30 June 2024 |
10. | RELATED PARTY DISCLOSURES |
The directors, R C Bone and G Bone, are also directors and shareholders of Destination Events Limited. |
During the year, Destination Events (Holdings) Limited received fees of £56,000 (2023: £56,000), and dividends of £189,400 (2023: £NIL). |
At the balance sheet date £308,638 was due to (2023: £265,522) Destination Events Limited. |
11. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the directors. |