ACCOUNTS - Final Accounts preparation

DESTINATION BASINGSTOKE LIMITED - Company Information

Company registration number: 04789569

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2021

	DESTINATION BASINGSTOKE LIMITED (A Company Limited by Guarantee)


DESTINATION BASINGSTOKE LIMITED (A Company Limited by Guarantee)

COMPANY INFORMATION

Directors	J R Pender
	B A Huntingdon
	F A Edwards
	N R Churchill
	M J Sheldon


Company secretary	J R Pender


Registered number	04789569


Registered office	Jameson House
	Lutyens Close
	Lychpit
	Basingstoke
	RG24 8AG


Accountants	Menzies LLP
	Chartered Accountants
	Victoria House
	50-58 Victoria Road
	Farnborough
	Hampshire
	GU14 7PG


Bankers	National Westminster Bank plc
	3 London Street
	Basingstoke
	Hampshire
	RG21 7NS


DESTINATION BASINGSTOKE LIMITED (A Company Limited by Guarantee)

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 5


DESTINATION BASINGSTOKE LIMITED (A Company Limited by Guarantee) REGISTERED NUMBER:04789569

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		934		1,484
Investments	5		1		1
			935		1,485
Current assets
Debtors: amounts falling due within one year	6	78,776		111,276
Cash at bank and in hand		192,523		142,557
		271,299		253,833
Creditors: amounts falling due within one year	7	(180,317)		(164,356)
Net current assets			90,982		89,477
Total assets less current liabilities			91,917		90,962

Net assets			91,917		90,962

Capital and reserves
Profit and loss account	91,917	90,962
	91,917	90,962

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

Page 1


DESTINATION BASINGSTOKE LIMITED (A Company Limited by Guarantee) REGISTERED NUMBER:04789569

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2021

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

J R Pender

Director

Date: 17 June 2021

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DESTINATION BASINGSTOKE LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1.	General information

Destination Basingstoke Limited is a company limited by guarantee incorporated in England and Wales. The address of the registered office and principal place of business is disclosed on the company information page.

2.Accounting policies

2.1

Basis of accounting

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Exemption from preparing consolidated financial statements

The company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Turnover

The turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. The turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

2.5

Going Concern

The emergence and spread of COVID-19 and the associated social distancing measures and imposed travel restrictions have significatnly impacted businesses globally.
Whilst the pandemic has had a financial impact on the company, at this stage it is not possible to reliably forecast what this may be.
However, the directors have taken all relevant measures to ensure they are able to safeguard cashflow, jobs, clients and supply chains and have made use of any available Coronavirus Supprt Schemes put in place by the UK Government.
Therefore, it is the directors opinion that the going concern basis of preparation remains appropriate.

2.6

Fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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DESTINATION BASINGSTOKE LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.6

Fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Equipment

33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income and Expenditure account.

2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Employees

The average monthly number of employees, including directors, during the year was 5 (2020 - 5).

4.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 April 2020	5,334
	At 31 March 2021	5,334
	Depreciation
	At 1 April 2020	3,850
	Charge for the year on owned assets	550
	At 31 March 2021	4,400
	Net book value
	At 31 March 2021	934
	At 31 March 2020	1,484

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DESTINATION BASINGSTOKE LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2020	1
	At 31 March 2021	1

Debtors

					2021	2020
					£	£


Trade debtors	26,652	66,973
Other debtors	40,287	41,713
Prepayments and accrued income	11,837	2,590
	78,776	111,276

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Bank loans	50,000	-
Trade creditors	-	186
Corporation tax	350	-
Other taxation and social security	10,640	23,099
Other creditors	353	853
Accruals and deferred income	118,974	140,218
	180,317	164,356


8.	Company limited by guarantee

The company is limited by guarantee and therefore does not have a share capital. In the event of winding up, the members and those who have been members in the previous year are liable to contribute to any shortfall in assets up to a maximum of £1 each.

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