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REGISTERED NUMBER: 02489526 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

KLOSTERS LIMITED

KLOSTERS LIMITED (REGISTERED NUMBER: 02489526)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KLOSTERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: R. Patel
A. Patel





REGISTERED OFFICE: 198/200 Beechcroft Road
Upper Stratton
Swindon
Wiltshire
SN2 6QQ





REGISTERED NUMBER: 02489526 (England and Wales)





ACCOUNTANTS: Arithma Accountants Limited
8th Floor Becket House
36 Old Jewry
London
EC2R 8DD

KLOSTERS LIMITED (REGISTERED NUMBER: 02489526)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,962 3,954
5,962 3,954

CURRENT ASSETS
Stocks 31,445 30,455
Debtors 6 10,303 10,293
Cash at bank and in hand 110,794 220,284
152,542 261,032
CREDITORS
Amounts falling due within one year 7 89,617 195,707
NET CURRENT ASSETS 62,925 65,325
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,887

69,279

CREDITORS
Amounts falling due after more than one
year

8

(55,500

)

(55,500

)

PROVISIONS FOR LIABILITIES (958 ) (958 )
NET ASSETS 12,429 12,821

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 12,427 12,819
SHAREHOLDERS' FUNDS 12,429 12,821

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

KLOSTERS LIMITED (REGISTERED NUMBER: 02489526)

BALANCE SHEET - continued
30 JUNE 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 29 January 2025 and were signed on its behalf by:





R. Patel - Director


KLOSTERS LIMITED (REGISTERED NUMBER: 02489526)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Klosters 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.

GOODWILL
Goodwill has been amortised over the duration of the lease as follows:- 5a Purton Road - cost £76500 amortised over 4 years. 198 Beechcroft Road - cost £165000 amortised over 14 years.

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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 25% 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.


KLOSTERS LIMITED (REGISTERED NUMBER: 02489526)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 241,500
AMORTISATION
At 1 July 2023
and 30 June 2024 241,500
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

KLOSTERS LIMITED (REGISTERED NUMBER: 02489526)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 5,950 95,405 101,355
Additions - 3,000 3,000
Disposals - (1,000 ) (1,000 )
At 30 June 2024 5,950 97,405 103,355
DEPRECIATION
At 1 July 2023 5,948 91,453 97,401
Charge for year - 988 988
Eliminated on disposal - (996 ) (996 )
At 30 June 2024 5,948 91,445 97,393
NET BOOK VALUE
At 30 June 2024 2 5,960 5,962
At 30 June 2023 2 3,952 3,954

Land and buildings represent premuim on leasehold properties. These are being written off over their lease periods.


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,303 10,293

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 80 -
Trade creditors 496 -
Taxation and social security 8,350 7,550
Other creditors 80,691 188,157
89,617 195,707

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 55,500 55,500

KLOSTERS LIMITED (REGISTERED NUMBER: 02489526)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 80 -

The bank overdraft is with National Westminster Bank PLC, who have a fixed and floating charge over all current and future assets of the company.

10. RELATED PARTY DISCLOSURES

During the year the directors Mr R Patel and Mr A Patel were each paid a dividend of £13,000 (2023-£13,000 each).