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REGISTERED NUMBER: 05421110 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Kindred Spirits Limited

Kindred Spirits Limited (Registered number: 05421110)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


Kindred Spirits Limited (Registered number: 05421110)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 9,701 5,139
9,701 5,139

CURRENT ASSETS
Stocks 23,131 47,236
Debtors 6 22,243 143,280
Cash at bank and in hand 11,200 617
56,574 191,133
CREDITORS
Amounts falling due within one year 7 93,479 100,534
NET CURRENT (LIABILITIES)/ASSETS (36,905 ) 90,599
TOTAL ASSETS LESS CURRENT LIABILITIES (27,204 ) 95,738

CREDITORS
Amounts falling due after more than one year 8 65,564 94,441
NET (LIABILITIES)/ASSETS (92,768 ) 1,297

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (92,770 ) 1,295
SHAREHOLDERS' FUNDS (92,768 ) 1,297

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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 & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 November 2024 and were signed by:





Mrs Geraldine Lynne Lowther - Director


Kindred Spirits Limited (Registered number: 05421110)

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

1. STATUTORY INFORMATION

Kindred Spirits Limited 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: 05421110

Registered office: Unit 204 Trentham Retail Village
Stone Road
Stoke-on-Trent
Staffordshire
ST4 8AX

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 director is prepared to continue to support the development of the company for the next financial 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, this has been fully amortised.

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 - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
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 & 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.


Kindred Spirits Limited (Registered number: 05421110)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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.

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 8 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 17,060
AMORTISATION
At 1 August 2023
and 31 July 2024 17,060
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 13,235 21,385 8,904 1,587 45,111
Additions 5,399 2,980 - 532 8,911
At 31 July 2024 18,634 24,365 8,904 2,119 54,022
DEPRECIATION
At 1 August 2023 11,396 18,399 8,904 1,273 39,972
Charge for year 1,978 2,081 - 290 4,349
At 31 July 2024 13,374 20,480 8,904 1,563 44,321
NET BOOK VALUE
At 31 July 2024 5,260 3,885 - 556 9,701
At 31 July 2023 1,839 2,986 - 314 5,139

Kindred Spirits Limited (Registered number: 05421110)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 18,058 49,499
Other debtors 4,185 93,781
22,243 143,280

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 35,772 33,765
Trade creditors 25,050 41,277
Amounts owed to group undertakings - 447
Taxation and social security 8,312 10,229
Other creditors 24,345 14,816
93,479 100,534

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 65,564 94,441

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,686 10,903

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
Mrs Geraldine Lynne Lowther
Balance outstanding at start of year 89,613 98,546
Amounts advanced 11,976 15,704
Amounts repaid (95,560 ) (24,637 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,029 89,613