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Company No: 11019407 (England and Wales)

KINDRED DESIGN LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

KINDRED DESIGN LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

KINDRED DESIGN LIMITED

BALANCE SHEET

As at 31 October 2023
KINDRED DESIGN LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 6,996 2,994
Investments 4 20,000 20,000
26,996 22,994
Current assets
Debtors 5 101,923 97,900
Cash at bank and in hand 233,127 63,216
335,050 161,116
Creditors: amounts falling due within one year 6 ( 90,098) ( 26,161)
Net current assets 244,952 134,955
Total assets less current liabilities 271,948 157,949
Creditors: amounts falling due after more than one year 7 0 ( 28,042)
Net assets 271,948 129,907
Capital and reserves
Called-up share capital 100 100
Profit and loss account 271,848 129,807
Total shareholder's funds 271,948 129,907

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Kindred Design Limited (registered number: 11019407) were approved and authorised for issue by the Director on 31 July 2024. They were signed on its behalf by:

Grant James Campbell
Director
KINDRED DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
KINDRED DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Kindred Design Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, England, United Kingdom.

The principle place of business is: The Coach House, 7 Carbery Lane, Southbourne, Bournemouth, Dorset, BH6 3QG.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Plant and machinery not depreciated
Office equipment 33.33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 November 2022 0 5,976 5,976
Additions 5,000 0 5,000
At 31 October 2023 5,000 5,976 10,976
Accumulated depreciation
At 01 November 2022 0 2,982 2,982
Charge for the financial year 0 998 998
At 31 October 2023 0 3,980 3,980
Net book value
At 31 October 2023 5,000 1,996 6,996
At 31 October 2022 0 2,994 2,994

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 November 2022 20,000
At 31 October 2023 20,000
Carrying value at 31 October 2023 20,000
Carrying value at 31 October 2022 20,000

The market value of the listed investments at 31 October 2023 was £1,637 (2022 - £2,333).

5. Debtors

2023 2022
£ £
Other debtors 101,923 97,900

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 0 10,272
Taxation and social security 85,453 11,715
Other creditors 4,645 4,174
90,098 26,161

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 0 28,042

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Overdrawn Directors Loan Account 99,677 96,532

Interest has been charged and the balance was repaid within 9 months of the year end