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REGISTERED NUMBER: 05421110 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Kindred Spirits Limited

Kindred Spirits Limited (Registered number: 05421110)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Kindred Spirits Limited (Registered number: 05421110)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,139 7,415
5,139 7,415

CURRENT ASSETS
Stocks 47,236 58,855
Debtors 6 143,280 136,104
Cash at bank and in hand 617 5,791
191,133 200,750
CREDITORS
Amounts falling due within one year 7 100,534 72,642
NET CURRENT ASSETS 90,599 128,108
TOTAL ASSETS LESS CURRENT LIABILITIES 95,738 135,523

CREDITORS
Amounts falling due after more than one year 8 (94,441 ) (122,865 )

PROVISIONS FOR LIABILITIES - (504 )
NET ASSETS 1,297 12,154

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,295 12,152
SHAREHOLDERS' FUNDS 1,297 12,154

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 January 2024 and were signed by:



Mrs Geraldine Lynne Lowther - Director


Kindred Spirits Limited (Registered number: 05421110)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Kindred Spirits Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05421110

Registered office: Unit 204 Trentham Retail Village
Stone Road
Stoke-on-Trent
Staffordshire
ST4 8AX

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes an element of work completed but not yet invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Kindred Spirits Limited (Registered number: 05421110)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 17,060
AMORTISATION
At 1 August 2022
and 31 July 2023 17,060
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 13,235 21,120 8,904 1,587 44,846
Additions - 265 - - 265
At 31 July 2023 13,235 21,385 8,904 1,587 45,111
DEPRECIATION
At 1 August 2022 10,497 16,914 8,904 1,116 37,431
Charge for year 899 1,485 - 157 2,541
At 31 July 2023 11,396 18,399 8,904 1,273 39,972
NET BOOK VALUE
At 31 July 2023 1,839 2,986 - 314 5,139
At 31 July 2022 2,738 4,206 - 471 7,415

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 49,499 28,170
Other debtors 93,781 107,934
143,280 136,104

Kindred Spirits Limited (Registered number: 05421110)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 33,765 27,360
Trade creditors 41,277 28,974
Amounts owed to group undertakings 447 1,847
Taxation and social security 10,229 3,643
Other creditors 14,816 10,818
100,534 72,642

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 94,441 122,865

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 10,903 16,667

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
Mrs Geraldine Lynne Lowther
Balance outstanding at start of year 98,546 (29,355 )
Amounts advanced 15,704 167,387
Amounts repaid (24,637 ) (39,486 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 89,613 98,546