REGISTERED NUMBER:
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Financial Statements |
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For The Year Ended 31 March 2021 |
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Destination Plymouth Limited |
REGISTERED NUMBER:
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Financial Statements |
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For The Year Ended 31 March 2021 |
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for |
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Destination Plymouth Limited |
Destination Plymouth Limited (Registered number: 07277342) |
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Contents of the Financial Statements |
For The Year Ended 31 March 2021 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 2 |
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Destination Plymouth Limited (Registered number: 07277342) |
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Balance Sheet |
31 March 2021 |
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31.3.21 | 31.3.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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RESERVES |
Income and expenditure account |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Destination Plymouth Limited (Registered number: 07277342) |
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Notes to the Financial Statements |
For The Year Ended 31 March 2021 |
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1. | STATUTORY INFORMATION |
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Destination Plymouth Limited is a
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Registered number: |
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Registered office: |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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COVID-19 |
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On 11 March 2020 the coronavirus disease called 'Covid-19' was assessed as a pandemic and as a result, economic uncertainties have arisen across the global economy which are still continuing. |
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Management are confident they have made reasonable considerations and adjustments to cover the impact which has resulted in delays to the scheduled events.These are being rescheduled as and when is appropriate given the continued social restrictions. |
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Budgets have been prepared and scrutinised to consider the impact of a number of different scenarios and as can been seen from management accounts to date expenditure is being reduced in accordance with the level of funding received. |
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The company has built up reserves which will be utilised in the future ensuring the overall impact of Covid-19 on the organisation has been kept to a minimum. With this in mind the directors are satisfied with the company's ability to continue as a going concern. |
Destination Plymouth Limited (Registered number: 07277342) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 March 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Turnover |
Core income is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
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Discover England grant income is measured at the fair value of consideration as the company earns the right to the consideration by meeting the performance criteria. |
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Membership income is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
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Marketing income is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
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Cruise income is measured at the fair value of consideration as the company earns the right to the consideration by meeting the performance criteria. |
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Mayflower 400 income is measured at the fair value of consideration as the company earns the right to the consideration by meeting the performance criteria. |
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Research income is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
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iMayflower income is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
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Conference income is measured at the fair value of consideration as the company earns the right to the consideration by meeting the performance criteria. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Government grants |
Government grants have been recognised in the accounts at fair value when there is reasonable assurance that they will comply with the conditions to the grant and the grants will be received. These grants have been recognised on the performance model upon receipt of the proceeds. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | AUDITORS' REMUNERATION |
31.3.21 | 31.3.20 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's
financial statements |
2,200 |
2,150 |
Auditors' remuneration for non audit work |
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Destination Plymouth Limited (Registered number: 07277342) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 March 2021 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
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Charge for year |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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9. | RELATED PARTY DISCLOSURES |
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Destination Plymouth Limited is the parent company of Plymouth Waterfront Partnership Limited. During the year the company received £19,450 (2020: £36,000) in respect of contributions to projects. At the year end Plymouth Waterfront Partnership Limited owed Destination Plymouth Limited £nil (2020: £26,200). |
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No remuneration is paid to any of the directors. |