Acorah Software Products - Accounts Production 15.0.600 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 11809132 Mr Charanjeet Singh Mrs Satnam Kaur Roadh Mrs Satnam Kaur Roadh iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11809132 2023-02-28 11809132 2024-02-29 11809132 2023-03-01 2024-02-29 11809132 frs-core:CurrentFinancialInstruments 2024-02-29 11809132 frs-core:Non-currentFinancialInstruments 2024-02-29 11809132 frs-core:FurnitureFittings 2024-02-29 11809132 frs-core:FurnitureFittings 2023-03-01 2024-02-29 11809132 frs-core:FurnitureFittings 2023-02-28 11809132 frs-core:PlantMachinery 2024-02-29 11809132 frs-core:PlantMachinery 2023-03-01 2024-02-29 11809132 frs-core:PlantMachinery 2023-02-28 11809132 frs-core:ShareCapital 2024-02-29 11809132 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 11809132 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11809132 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 11809132 frs-bus:SmallEntities 2023-03-01 2024-02-29 11809132 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11809132 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11809132 frs-bus:Director1 2023-03-01 2024-02-29 11809132 frs-bus:Director1 2023-02-28 11809132 frs-bus:Director1 2024-02-29 11809132 frs-bus:Director2 2023-03-01 2024-02-29 11809132 frs-bus:Director2 2023-02-28 11809132 frs-bus:Director2 2024-02-29 11809132 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 11809132 frs-countries:EnglandWales 2023-03-01 2024-02-29 11809132 2022-02-28 11809132 2023-02-28 11809132 2022-03-01 2023-02-28 11809132 frs-core:CurrentFinancialInstruments 2023-02-28 11809132 frs-core:Non-currentFinancialInstruments 2023-02-28 11809132 frs-core:ShareCapital 2023-02-28 11809132 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 11809132
Creating Lifestyles Homes Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Major's Accounts & Co Ltd
ACCA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11809132
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 1,638
Investment Properties 5 227,025 100,000
227,025 101,638
CURRENT ASSETS
Debtors 6 268,776 179,529
Cash at bank and in hand 170,922 192,662
439,698 372,191
Creditors: Amounts Falling Due Within One Year 7 (608,831 ) (423,873 )
NET CURRENT ASSETS (LIABILITIES) (169,133 ) (51,682 )
TOTAL ASSETS LESS CURRENT LIABILITIES 57,892 49,956
Creditors: Amounts Falling Due After More Than One Year 8 - (47,034 )
NET ASSETS 57,892 2,922
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 57,792 2,822
SHAREHOLDERS' FUNDS 57,892 2,922
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Charanjeet Singh
Director
6th September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Creating Lifestyles Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11809132 . The registered office is 17 Carholme Road, London, SE23 2HT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on cost
Fixtures & Fittings 25% on cost
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2023 4,220 10,390 14,610
As at 29 February 2024 4,220 10,390 14,610
Depreciation
As at 1 March 2023 4,220 8,752 12,972
Provided during the period 1,638 - 1,638
As at 29 February 2024 5,858 8,752 14,610
Net Book Value
As at 29 February 2024 (1,638 ) 1,638 -
As at 1 March 2023 - 1,638 1,638
5. Investment Property
2024
£
Fair Value
As at 1 March 2023 100,000
Additions 127,025
As at 29 February 2024 227,025
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 170,215
Other debtors 128,293 9,314
Directors' loan accounts 105,034 -
233,327 179,529
Due after more than one year
Corporation tax recoverable assets 35,449 -
268,776 179,529
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 205,529 96,143
Other taxes and social security 5,154 6,948
VAT 366,334 256,382
Other creditors 31,335 1,255
Accruals and deferred income 479 38,130
Directors' loan accounts - 25,015
608,831 423,873
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 47,034
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Charanjeet Singh 12,757 - 63,174 - 50,917
Mrs Satnam Kaur Roadh 12,757 - 66,374 - 54,117
The above loan is unsecured, interest free and repayable on demand.
11. Related Party Transactions
As of the beginning of the financial period, the opening balance with C.S London Properties Ltd stood at £12,715.
Additionally, an amount of £6,620.28 was advanced by C.S London Properties Ltd during the period under consideration.
Throughout the financial period, there were no repayments made to C.S London Properties Ltd. At the reporting period end,the closing balance with C.S London Properties Ltd was £19,335.28.
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