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Company Registration No. 12269502 (England and Wales)
Kula Collective Ltd Unaudited accounts for the year ended 31 March 2023
Kula Collective Ltd Unaudited accounts Contents
Page
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Kula Collective Ltd Company Information for the year ended 31 March 2023
Directors
HOLLY PHILLIPS JACK VILLIERS
Company Number
12269502 (England and Wales)
Registered Office
104 Priory Road London N8 7HR United Kingdom
Accountants
Yukimi Rabnott FCPFA for and on behalf of On The Spot Trading Name of Carson Rabnott Limited EC2Y 8BY
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Kula Collective Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,599 
621 
Investments
4,321 
4,321 
5,920 
4,942 
Current assets
Debtors
9,254 
13,715 
Cash at bank and in hand
24,854 
73,739 
34,108 
87,454 
Creditors: amounts falling due within one year
(21,998)
(47,534)
Net current assets
12,110 
39,920 
Total assets less current liabilities
18,030 
44,862 
Creditors: amounts falling due after more than one year
(744)
- 
Net assets
17,286 
44,862 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
17,284 
44,860 
Shareholders' funds
17,286 
44,862 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2023 and were signed on its behalf by
JACK VILLIERS Director Company Registration No. 12269502
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Kula Collective Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Kula Collective Ltd is a private company, limited by shares, registered in England and Wales, registration number 12269502. The registered office is 104 Priory Road, London, N8 7HR, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Revenue
Revenue, described as turnover, is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services. Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
straight line over 3 years
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2022
1,507 
Additions
1,626 
At 31 March 2023
3,133 
Depreciation
At 1 April 2022
886 
Charge for the year
648 
At 31 March 2023
1,534 
Net book value
At 31 March 2023
1,599 
At 31 March 2022
621 
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Kula Collective Ltd Notes to the Accounts for the year ended 31 March 2023
5
Investments
Other investments 
£ 
Valuation at 1 April 2022
4,321 
Valuation at 31 March 2023
4,321 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
8,760 
2,336 
Accrued income and prepayments
494 
11,379 
9,254 
13,715 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
1,250 
561 
Taxes and social security
13,331 
28,012 
Other creditors
296 
18,961 
Loans from directors
18 
- 
Accruals
7,103 
- 
21,998 
47,534 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
744 
- 
9
Transactions with related parties
There were no material transactions with directors and shareholders that were not conducted under normal market conditions. The amounts owed to the directors are included within creditors. The balances are payable on demand.
10
Average number of employees
During the year the average number of employees was 0 (2022: 1).
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