Company Registration No. 12269502 (England and Wales)
Kula Collective Ltd
Unaudited accounts
for the year ended 31 March 2024
Kula Collective Ltd
Unaudited accounts
Contents
Kula Collective Ltd
Company Information
for the year ended 31 March 2024
Directors
HOLLY PHILLIPS
JACK VILLIERS
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
Kula Collective Ltd
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
26,280
24,854
Creditors: amounts falling due within one year
(43,595)
(21,998)
Net current (liabilities)/assets
(4,779)
12,110
Total assets less current liabilities
468
18,030
Creditors: amounts falling due after more than one year
(455)
(744)
Called up share capital
2
2
Profit and loss account
11
17,284
Shareholders' funds
13
17,286
For the year ending 31 March 2024 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 August 2024 and were signed on its behalf by
JACK VILLIERS
Director
Company Registration No. 12269502
Kula Collective Ltd
Notes to the Accounts
for the year ended 31 March 2024
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.
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, 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
5
Investments
Other investments
Valuation at 1 April 2023
4,321
Valuation at 31 March 2024
4,321
Kula Collective Ltd
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Accrued income and prepayments
7,209
494
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
4,283
13,331
8
Creditors: amounts falling due after more than one year
2024
2023
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 by the directors are included within other debtors and are payable on demand. Interest of £97 has been charged.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).