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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 30 June 2017 |
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Destination Events Limited |
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REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 30 June 2017 |
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Destination Events Limited |
Destination Events Limited (Registered number: 03776162) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2017 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Chartered Accountants' Report | 3 |
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Income Statement | 4 |
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Statement of Financial Position | 5 |
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Notes to the Financial Statements | 6 |
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Destination Events Limited |
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Company Information |
for the Year Ended 30 June 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Endeavour House |
78 Stafford Road |
Wallington |
Surrey |
SM6 9AY |
Destination Events Limited (Registered number: 03776162) |
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Report of the Directors |
for the Year Ended 30 June 2017 |
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The directors present their report with the financial statements of the company for the year ended 30 June 2017. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was the organisation of promotional events. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 July 2016 to the date of this report. |
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CHARITABLE DONATIONS AND EXPENDITURE |
During the year the company made various charitable donations totalling £109,865 (2016: £83,700). |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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ON BEHALF OF THE BOARD: |
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Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Destination Events Limited |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Destination Events Limited for the year ended 30 June 2017 which comprise the Income |
Statement, Statement of Financial Position and the related notes from the company's accounting records and from |
information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Destination Events Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Destination Events Limited and state those matters that we have agreed to state to the Board of Directors of Destination Events Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Destination Events Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Destination Events Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Destination Events Limited. You consider that Destination Events Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Destination Events Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Endeavour House |
78 Stafford Road |
Wallington |
Surrey |
SM6 9AY |
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Destination Events Limited (Registered number: 03776162) |
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Income Statement |
for the Year Ended 30 June 2017 |
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2017 | 2016 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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OPERATING PROFIT | 4 |
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Interest receivable and similar income |
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PROFIT BEFORE TAXATION |
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Tax on profit |
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PROFIT FOR THE FINANCIAL YEAR |
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Destination Events Limited (Registered number: 03776162) |
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Statement of Financial Position |
30 June 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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61,827 | 83,726 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash in hand |
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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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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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486,978 | 368,864 |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
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The financial statements were approved by the Board of Directors on
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Destination Events Limited (Registered number: 03776162) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2017 |
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1. | STATUTORY INFORMATION |
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Destination Events Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales, excluding value added tax. |
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Tangible fixed assets |
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Office equipment | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
operating result. |
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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. |
Destination Events Limited (Registered number: 03776162) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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3. | EMPLOYEES AND DIRECTORS |
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The average monthly number of employees during the year was
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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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2017 | 2016 |
£ | £ |
Depreciation - owned assets |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Office | and | Computer |
equipment | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2016 |
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Additions |
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Disposals | ( |
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At 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts owed by parent company |
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Other debtors |
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Social security and other taxes |
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Prepayments and accrued income |
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Destination Events Limited (Registered number: 03776162) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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Directors' current accounts |
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Accruals and deferred income |
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8. | RELATED PARTY DISCLOSURES |
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The directors, R C Bone and G Bone, are also directors and shareholders of Destination Events (Holdings) |
Limited. |
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During the year the following transactions were made by the company with Destination Events (Holdings) |
Limited : |
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2017 | 2016 |
£ | £ |
Management charges | 36,000 | 36,000 |
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At the balance sheet date £223,372 was due from (2016: £220,306) Destination Events (Holdings) Limited. |
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9. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by R C Bone. |