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Registered number: 08414530
Destiny Automate Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Michael Price Associates Limited
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors J Van Rymenant
J H Arthur
Company Number 08414530
Registered Office Np-105 Icentre
Howard Way
Newport Pagnell
Milton Keynes
MK16 9PY
Accountants Michael Price Associates Limited
Np-105 Icentre
Howard Way
Newport Pagnell
Milton Keynes
MK16 9PY
Page 1
Page 2
Balance Sheet
Registered number: 08414530
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,647,669 2,293,000
Tangible Assets 5 34,673 34,349
3,682,342 2,327,349
CURRENT ASSETS
Debtors 6 1,961,629 1,610,840
Cash at bank and in hand 1,394,962 691,492
3,356,591 2,302,332
Creditors: Amounts Falling Due Within One Year 7 (1,903,926 ) (806,191 )
NET CURRENT ASSETS (LIABILITIES) 1,452,665 1,496,141
TOTAL ASSETS LESS CURRENT LIABILITIES 5,135,007 3,823,490
Creditors: Amounts Falling Due After More Than One Year 8 - (261,450 )
NET ASSETS 5,135,007 3,562,040
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 5,135,006 3,562,039
SHAREHOLDERS' FUNDS 5,135,007 3,562,040
Page 2
Page 3
For the year ending 31 December 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
J Van Rymenant
Director
18/07/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Destiny Automate Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08414530 . The registered office is Np-105 Icentre, Howard Way, Newport Pagnell, Milton Keynes, MK16 9PY.
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. Intangible Fixed Assets and Amortisation - Other Intangible
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.
2.4. 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:
Plant & Machinery 3 Years Straight Line
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 45 (2023: 45)
45 45
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4. Intangible Assets
Other Development Costs Total
£ £ £
Cost
As at 1 January 2024 66,320 2,466,267 2,532,587
Additions - 2,063,386 2,063,386
As at 31 December 2024 66,320 4,529,653 4,595,973
Amortisation
As at 1 January 2024 19,896 219,691 239,587
Provided during the period 13,264 695,453 708,717
As at 31 December 2024 33,160 915,144 948,304
Net Book Value
As at 31 December 2024 33,160 3,614,509 3,647,669
As at 1 January 2024 46,424 2,246,576 2,293,000
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2024 64,832
Additions 21,369
Disposals (410 )
As at 31 December 2024 85,791
Depreciation
As at 1 January 2024 30,483
Provided during the period 21,045
Disposals (410 )
As at 31 December 2024 51,118
Net Book Value
As at 31 December 2024 34,673
As at 1 January 2024 34,349
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,741,076 1,399,601
Prepayments and accrued income 220,427 176,122
VAT - 35,117
Net wages 126 -
1,961,629 1,610,840
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 255,242 127,979
Corporation tax 700,000 250,000
Other taxes and social security 115,980 133,795
VAT 28,676 -
Pension Liability 31,624 13,922
Accruals and deferred income 772,404 280,495
1,903,926 806,191
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings - 261,450
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Post Balance Sheet Events
As of 01st Jan 2025, certain employees have moved to the holding company Destiny UK Service Center Limited
11. Exceptional Items
2024
2023
£
£
Exceptional Expense - Intercompany
1,063,493
2,352,971
Exceptional Expense
-
image
23,112
image
1,063,493
image
2,376,083
image
As part of a restructuring of the group's UK operations, deferred obligations related to Tactful Limited of £433,493 were transferred from another group company and an intercompany loan of £630,000 was forgiven.
12. Ultimate Controlling Party
At 31 December 2024 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.
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