LIFESTYLE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Lifestyle Holdings Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office, which is also the principal place of business, is Royal Overhouse Manufactory, Overhouse Place, Burslem, Stoke-on-Trent, Staffordshire, ST6 4EE.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The trading subsidiary of the company has gone into voluntary liquidation after the reporting date and relevant investments and intercompany balance have been accordingly written off.
The directors have a reasonable expectation that the company has adequate resources to continue to be in existence for the foreseeable future in a dormant state. The company, therefore, continues to adopt the going concern basis in preparing its financial statements.
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Exemption from preparing consolidated financial statements
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The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, less any impairment.
Short term creditors are measured at the transaction price.
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