Direct Experiences Limited - Accounts to registrar (filleted) - small 18.2

Direct Experiences Limited - Accounts to registrar (filleted) - small 18.2

DIRECT EXPERIENCES LIMITED - Company Information

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REGISTERED NUMBER: 05585258 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

DIRECT EXPERIENCES LIMITED
DIRECT EXPERIENCES LIMITED (REGISTERED NUMBER: 05585258)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIRECT EXPERIENCES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2020







DIRECTOR: Mr D Edmonds





REGISTERED OFFICE: Prestwold Driving Centre
Prestwold Lane
Hoton
Leicester
Leicestershire
LE12 5SH





REGISTERED NUMBER: 05585258 (England and Wales)
Page 1
DIRECT EXPERIENCES LIMITED (REGISTERED NUMBER: 05585258)

BALANCE SHEET
31 DECEMBER 2020

2020 2019
Notes £    £   
CURRENT ASSETS
Debtors 4 837,175 837,152
Cash at bank 345 1,357
837,520 838,509
CREDITORS
Amounts falling due within one year 5 752,372 801,041
NET CURRENT ASSETS 85,148 37,468
TOTAL ASSETS LESS CURRENT
LIABILITIES
85,148
37,468

CREDITORS
Amounts falling due after more than one
year
6
47,659
-
NET ASSETS 37,489 37,468

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 37,488 37,467
SHAREHOLDERS' FUNDS 37,489 37,468

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)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.

The notes form part of these financial statements

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DIRECT EXPERIENCES LIMITED (REGISTERED NUMBER: 05585258)

BALANCE SHEET - continued
31 DECEMBER 2020


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2021 and were signed by:





Mr D Edmonds - Director


The notes form part of these financial statements

Page 3
DIRECT EXPERIENCES LIMITED (REGISTERED NUMBER: 05585258)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020


1. STATUTORY INFORMATION

Direct Experiences Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other debtors 834,014 834,014
Taxation 3,161 3,138
837,175 837,152

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DIRECT EXPERIENCES LIMITED (REGISTERED NUMBER: 05585258)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Bank loans and overdrafts 2,341 -
Trade creditors 954 -
Other creditors 749,077 801,041
752,372 801,041

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2020 2019
£    £   
Bank loans 47,659 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years
by instalment 7,926 -
7,926 -

7. RELATED PARTY DISCLOSURES

At the end of the period, the company was owed £834,014 (2019 - £834,014) from a related company.

At the year end a balance of £744,908 (2019 - £795,919) remained outstanding to related companies.

No interest was charged on the above balances.

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