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REGISTERED NUMBER: 05313723 (England and Wales)












CREAM & BROWNE LIFESTYLE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






CREAM & BROWNE LIFESTYLE LTD (REGISTERED NUMBER: 05313723)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CREAM & BROWNE LIFESTYLE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs J Edkins
Mr S Edkins





REGISTERED OFFICE: Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT





REGISTERED NUMBER: 05313723 (England and Wales)





ACCOUNTANTS: Wallace Crooke Walsall Limited
Chartered Accountants
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT

CREAM & BROWNE LIFESTYLE LTD (REGISTERED NUMBER: 05313723)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,861 2,852
2,861 2,852

CURRENT ASSETS
Debtors 6 117,380 165,983
Cash at bank and in hand 119,223 42,260
236,603 208,243
CREDITORS
Amounts falling due within one year 7 190,612 159,225
NET CURRENT ASSETS 45,991 49,018
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,852

51,870

CREDITORS
Amounts falling due after more than one
year

8

29,167

39,167
NET ASSETS 19,685 12,703

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 19,683 12,701
SHAREHOLDERS' FUNDS 19,685 12,703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

CREAM & BROWNE LIFESTYLE LTD (REGISTERED NUMBER: 05313723)

BALANCE SHEET - continued
31 MARCH 2023


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 13 September 2023 and were signed on its behalf by:





Mrs J Edkins - Director


CREAM & BROWNE LIFESTYLE LTD (REGISTERED NUMBER: 05313723)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Cream & Browne Lifestyle Ltd 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.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

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, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten 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.
Leasehold property improvement - in accordance with the property
Fixtures & Equipment - 25% reducing balance
Website development - 33% on cost
Computer equipment - 25% reducing balance

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.

CREAM & BROWNE LIFESTYLE LTD (REGISTERED NUMBER: 05313723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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 4 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 40,000
AMORTISATION
At 1 April 2022
and 31 March 2023 40,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Leasehold
property Fixtures Website Computer
improvement & Equipment development equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 69,282 15,134 29,403 8,900 122,719
Additions - - - 1,431 1,431
Disposals (69,282 ) (11,984 ) - (3,437 ) (84,703 )
At 31 March 2023 - 3,150 29,403 6,894 39,447
DEPRECIATION
At 1 April 2022 69,282 14,119 29,403 7,063 119,867
Charge for year - 173 - 782 955
Eliminated on disposal (69,282 ) (11,658 ) - (3,296 ) (84,236 )
At 31 March 2023 - 2,634 29,403 4,549 36,586
NET BOOK VALUE
At 31 March 2023 - 516 - 2,345 2,861
At 31 March 2022 - 1,015 - 1,837 2,852

CREAM & BROWNE LIFESTYLE LTD (REGISTERED NUMBER: 05313723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,348 60,235
Other debtors 102,032 105,748
117,380 165,983

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 96,318 112,648
Taxation and social security 50,340 26,977
Other creditors 33,954 9,600
190,612 159,225

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 29,167 39,167

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 172

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 39,167 49,167

The bank loan is secured by a fixed and floating charge over the undertaking and all property and assets present and future.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary shares £1 2 2

CREAM & BROWNE LIFESTYLE LTD (REGISTERED NUMBER: 05313723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors received advances totalling £74,112.51 (2022: £87,337.42) and made repayments totalling £71,950.00 (2022: £80,153.31). At the 31 March 2023 the directors owed the company £86,360.48 (2022: £84,197.97).These advances were provided at an interest rate of 2.00% (2022: 2.00%) and are repayable on demand.

13. RELATED PARTY DISCLOSURES

A Personal Guarantee has been provided by the directors in respect of the Company loan from HSBC Bank plc.