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REGISTERED NUMBER: SC213005 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Spiritual Collective Limited

Spiritual Collective Limited (Registered number: SC213005)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


Spiritual Collective Limited (Registered number: SC213005)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 161,218 164,746

CURRENT ASSETS
Stocks 510 510
Debtors 5 1,088 1,088
Cash at bank and in hand 821 977
2,419 2,575
CREDITORS
Amounts falling due within one year 6 30,541 24,697
NET CURRENT LIABILITIES (28,122 ) (22,122 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

133,096

142,624

PROVISIONS FOR LIABILITIES 4,831 3,438
NET ASSETS 128,265 139,186

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 128,263 139,184
SHAREHOLDERS' FUNDS 128,265 139,186

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 August 2024 and were signed by:





Mrs V E Mulhearn - Director


Spiritual Collective Limited (Registered number: SC213005)

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

1. STATUTORY INFORMATION

Spiritual Collective Limited is a private company, limited by shares, domiciled in Scotland, registration number SC213005. The registered office is Lendrick Lodge, Brig o Turk, Callander, Stirlingshire, FK17 8HR.

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 represents net invoiced sales of goods and services in respect of retreat provision and courses of holistic therapies, excluding value added tax. Sales are recognised at the point at which the goods are transferred and the service is complete.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance and 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Spiritual Collective Limited (Registered number: SC213005)

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

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 December 2022 156,679 211,574 114,622
Additions - - -
At 30 November 2023 156,679 211,574 114,622
DEPRECIATION
At 1 December 2022 18,983 208,552 94,824
Charge for year 3,133 755 2,970
At 30 November 2023 22,116 209,307 97,794
NET BOOK VALUE
At 30 November 2023 134,563 2,267 16,828
At 30 November 2022 137,696 3,022 19,798

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 24,547 11,270 299 518,991
Additions - - 5,876 5,876
At 30 November 2023 24,547 11,270 6,175 524,867
DEPRECIATION
At 1 December 2022 20,541 11,270 75 354,245
Charge for year 1,002 - 1,544 9,404
At 30 November 2023 21,543 11,270 1,619 363,649
NET BOOK VALUE
At 30 November 2023 3,004 - 4,556 161,218
At 30 November 2022 4,006 - 224 164,746

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 1,088 1,088

Spiritual Collective Limited (Registered number: SC213005)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 6,694 7,412
Taxation and social security 330 -
Other creditors 23,517 17,285
30,541 24,697

7. SECURED DEBTS

The Royal Bank of Scotland holds a bond and floating charge over the assets of the company. In addition a standard security is also held over Lendrick Lodge in conjunction with a letter of postponement of £25,000 by director Mrs V Mulhearn.