Company No: 08350394 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	1,000		1,000
Tangible assets	4	153,360		144,684
		154,360		145,684
Current assets
Stocks		484,149		465,060
Debtors	5	665,040		551,159
Cash at bank and in hand		70		66
		1,149,259		1,016,285
Creditors: amounts falling due within one year	6	( 572,202)		( 402,563)
Net current assets		577,057		613,722
Total assets less current liabilities		731,417		759,406
Creditors: amounts falling due after more than one year	7	( 113,000)		( 123,000)
Provision for liabilities		( 21,866)		( 26,794)
Net assets		596,551		609,612
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		596,451		609,512
Total shareholders' funds		596,551		609,612

For the financial 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.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Destination CMS Ltd (registered number: 08350394) were approved and authorised for issue by the Board of Directors on 24 September 2025. They were signed on its behalf by:

Mr M Baker Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Destination CMS Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 18 23 Royal William Yard, Plymouth, PL1 3GW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of the value added tax, returns, rebates and discounts and after eliminating sales within the Company.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completions.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences

not amortised

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc.

4 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the FIFO (first-in, first-out) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stock are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	24		29

3. Intangible assets

	Trademarks, patents and licences		Total
	£		£
Cost
At 01 January 2024	2,200		2,200
At 31 December 2024	2,200		2,200
Accumulated amortisation
At 01 January 2024	1,200		1,200
At 31 December 2024	1,200		1,200
Net book value
At 31 December 2024	1,000		1,000
At 31 December 2023	1,000		1,000

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	648,644		648,644
Additions	55,191		55,191
Disposals	( 208)		( 208)
At 31 December 2024	703,627		703,627
Accumulated depreciation
At 01 January 2024	503,960		503,960
Charge for the financial year	46,407		46,407
Disposals	( 100)		( 100)
At 31 December 2024	550,267		550,267
Net book value
At 31 December 2024	153,360		153,360
At 31 December 2023	144,684		144,684

5. Debtors

	2024		2023
	£		£
Trade debtors	299,131		260,314
Amounts owed by directors	0		8,000
Prepayments and accrued income	344,843		282,845
Other debtors	21,066		0
	665,040		551,159

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans and overdrafts	59,999		26,486
Trade creditors	84,955		27,765
Amounts owed to connected persons	44,888		0
Taxation and social security	235,868		286,499
Obligations under finance leases and hire purchase contracts	0		2,599
Other creditors	146,492		59,214
	572,202		402,563

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	5,000		15,000
Amounts owed to related parties	108,000		108,000
	113,000		123,000

The bank loans are secured by way of a fixed and floating charge over the assets of the business.

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 0.01 each	100		100

9. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Director 1	0		8,000
	0		0

Director 1 -
During the year, the Company advanced £nil to Director 2 (2023 - £8,000), £8,000 was repaid (2023 - £5,000). The balance owed to the Company by Director 2 as at 31 December is £nil (2023 - £8,000).
Interest was not charged on this amount and the balance is repayable on demand.

Other related party transactions

	2024		2023
	£		£
Related Parties	(108,000)		(108,000)

During the year, there were no advances made to or repayments received from related parties. At the year end, the Company owed £108,000 to related parties. The amounts are unsecured, interest-free, and repayable on demand. The related parties include entities under common control.