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REGISTERED NUMBER: 11351463 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Kindred Spirits Retail Limited

Kindred Spirits Retail Limited (Registered number: 11351463)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kindred Spirits Retail Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: O F Barker
Mrs N Barker





REGISTERED OFFICE: 4 Main Street
Keswick
CA12 5JD





REGISTERED NUMBER: 11351463 (England and Wales)





ACCOUNTANT: CWH Accounting
Mount Pleasant
Heads Nook
Brampton
Carlisle
Cumbria
CA8 9EH

Kindred Spirits Retail Limited (Registered number: 11351463)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 27,233 29,204
Tangible assets 5 98,731 77,418
125,964 106,622

CURRENT ASSETS
Stocks 119,788 110,000
Debtors 6 - 24,396
Cash at bank and in hand 21,145 40,613
140,933 175,009
CREDITORS
Amounts falling due within one year 7 109,171 89,377
NET CURRENT ASSETS 31,762 85,632
TOTAL ASSETS LESS CURRENT
LIABILITIES

157,726

192,254

CREDITORS
Amounts falling due after more than
one year

8

(87,564

)

(110,812

)

PROVISIONS FOR LIABILITIES (17,248 ) (15,205 )
NET ASSETS 52,914 66,237

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 9 52,911 66,234
52,914 66,237

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Kindred Spirits Retail Limited (Registered number: 11351463)

Balance Sheet - continued
31 May 2024


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 Board of Directors and authorised for issue on 2 January 2025 and were signed on its behalf by:





O F Barker - Director


Kindred Spirits Retail Limited (Registered number: 11351463)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Kindred Spirits Retail Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of seven years.

Computer software is being amortised evenly over its estimated useful life of seven years.

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 etc - 33% on cost and 15% on reducing balance

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 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.


Kindred Spirits Retail Limited (Registered number: 11351463)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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.

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 14 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023 37,336
Additions 3,226
At 31 May 2024 40,562
AMORTISATION
At 1 June 2023 8,132
Charge for year 5,197
At 31 May 2024 13,329
NET BOOK VALUE
At 31 May 2024 27,233
At 31 May 2023 29,204

Kindred Spirits Retail Limited (Registered number: 11351463)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 110,339
Additions 37,093
At 31 May 2024 147,432
DEPRECIATION
At 1 June 2023 32,921
Charge for year 15,780
At 31 May 2024 48,701
NET BOOK VALUE
At 31 May 2024 98,731
At 31 May 2023 77,418

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors - 2,907
Amounts owed by group undertakings - 16,989
Other debtors - 4,500
- 24,396

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 27,969 23,006
Trade creditors 25,960 -
Amounts owed to group undertakings 871 -
Taxation and social security 30,575 23,026
Other creditors 23,796 43,345
109,171 89,377

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 87,564 110,812

Kindred Spirits Retail Limited (Registered number: 11351463)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. RESERVES
Retained
earnings
£   

At 1 June 2023 66,234
Profit for the year 21,677
Dividends (35,000 )
At 31 May 2024 52,911

10. OTHER FINANCIAL COMMITMENTS

At 31st May 2024 the company had annual commitments under non-cancellable operating leases as set out below:


20242023
£   £   
Within 1 year90,50090,500
Within 2 to 5 years362,000362.000
After more than 5 years261,938352,438
714,438804,938