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REGISTERED NUMBER: 09124243 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 July 2023

for

Kindred Spirits Management Ltd

Kindred Spirits Management Ltd (Registered number: 09124243)






Contents of the Financial Statements
for the Year Ended 30 July 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Kindred Spirits Management Ltd (Registered number: 09124243)

Balance Sheet
30 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 113 227

CURRENT ASSETS
Stocks 7,681 39,390
Debtors 5 33,228 32,041
Cash in hand 1,560 2,950
42,469 74,381
CREDITORS
Amounts falling due within one year 6 67,842 48,065
NET CURRENT (LIABILITIES)/ASSETS (25,373 ) 26,316
TOTAL ASSETS LESS CURRENT LIABILITIES (25,260 ) 26,543

CREDITORS
Amounts falling due after more than one year 7 26,001 29,491
NET LIABILITIES (51,261 ) (2,948 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (51,361 ) (3,048 )
SHAREHOLDERS' FUNDS (51,261 ) (2,948 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 and 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 G L Lowther - Director


Kindred Spirits Management Ltd (Registered number: 09124243)

Notes to the Financial Statements
for the Year Ended 30 July 2023

1. STATUTORY INFORMATION

Kindred Spirits Management Ltd 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: 09124243

Registered office: 12 Derby Street
Leek
Staffordshire
ST13 5AB

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.

The financial statements have been prepared on a going concern basis notwithstanding the deficit in net assets. The main creditor of the company being an intercompany balance £50,604. (2022 - £31,977). The directors are satisfied that the shareholders are prepared to continue to support the development of the company for the next year.

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.
Fixtures and fittings - 25% on cost
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 and 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.

Kindred Spirits Management Ltd (Registered number: 09124243)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2023

2. ACCOUNTING POLICIES - continued

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.

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 2 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 31 July 2022
and 30 July 2023 18,170 461 18,631
DEPRECIATION
At 31 July 2022 17,943 461 18,404
Charge for year 114 - 114
At 30 July 2023 18,057 461 18,518
NET BOOK VALUE
At 30 July 2023 113 - 113
At 30 July 2022 227 - 227

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,457 1,319
Other debtors 31,771 30,722
33,228 32,041

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,259 4,778
Trade creditors 5,761 6,578
Taxation and social security 2,747 2,797
Other creditors 54,075 33,912
67,842 48,065

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 26,001 29,491

Kindred Spirits Management Ltd (Registered number: 09124243)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 10,445 13,935

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 July 2023 and 30 July 2022:

2023 2022
£    £   
Mrs G L Lowther
Balance outstanding at start of year 21,611 (24,231 )
Amounts advanced 1,112 48,282
Amounts repaid (398 ) (2,440 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,325 21,611