Destination Vinyl Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10302488

Destination Vinyl Limited

Filleted Unaudited Financial Statements

Year ended

30 July 2025

Destination Vinyl Limited

Financial Statements

Year ended 30 July 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Destination Vinyl Limited

Statement of Financial Position

30 July 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		19,768		23,256

Current assets

Debtors	6	16,433	34,981
Cash at bank and in hand		474,061	366,885
		----------	----------
		490,494	401,866

Creditors: amounts falling due within one year	7	84,733		112,448
		----------		----------
Net current assets			405,761		289,418
			----------		----------
Total assets less current liabilities			425,529		312,674
			----------		----------

Capital and reserves

Called up share capital	1	1
Profit and loss account	425,528	312,673
	----------	----------
Shareholders funds	425,529	312,674
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 30 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Destination Vinyl Limited

Statement of Financial Position (continued)

30 July 2025

These financial statements were approved by the board of directors and authorised for issue on 22 July 2026 , and are signed on behalf of the board by:

Mrs G C Adair
Director

Company registration number: 10302488

Destination Vinyl Limited

Notes to the Financial Statements

Year ended 30 July 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 6, Acorn Business Centre, Oakney Wood Avenue, Selby, North Yorkshire, YO8 8GS.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Going concern

The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the director has considered the effect of these matters on the company with the information available to it and does not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the director has prepared these financial statements on a going concern basis.

(c) Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the sale is agreed with the customer.

(d) Current & deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

(e) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(f) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles	-	15% reducing balance
Equipment	-	15% reducing balance

(g) Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

(h) Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

(i) Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2024: 7 ).

5. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 31 July 2024 and 30 July 2025	25,417	27,950	53,367
	--------	--------	--------
Depreciation
At 31 July 2024	12,149	17,962	30,111
Charge for the year	1,990	1,498	3,488
	--------	--------	--------
At 30 July 2025	14,139	19,460	33,599
	--------	--------	--------
Carrying amount
At 30 July 2025	11,278	8,490	19,768
	--------	--------	--------
At 30 July 2024	13,268	9,988	23,256
	--------	--------	--------

6. Debtors

	2025	2024
	£	£
Trade debtors	14,353	33,453
Director's loan account	2,080	1,528
	--------	--------
	16,433	34,981
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	5,819	3,347
Corporation tax	68,841	64,462
Social security and other taxes	10,073	44,639
	--------	----------
	84,733	112,448
	--------	----------

8. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mrs G C Adair	1,528	162,598	( 162,046)	2,080
	-------	----------	----------	-------

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mrs G C Adair	( 2,466)	149,491	( 145,497)	1,528
	-------	----------	----------	-------

The overdrawn amount was cleared by a dividend voted in July 2026.