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REGISTERED NUMBER: 08993325 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

CLF ART LOUNGE LTD

CLF ART LOUNGE LTD (REGISTERED NUMBER: 08993325)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


CLF ART LOUNGE LTD

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: Miss S M Kamarainen
Mr M A Smith





SECRETARY: Mr M A Smith





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 08993325 (England and Wales)





ACCOUNTANTS: Raffingers Holdings Limited
Chartered Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

CLF ART LOUNGE LTD (REGISTERED NUMBER: 08993325)

ABRIDGED BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 127,749 138,366

CURRENT ASSETS
Stocks 38,870 7,400
Debtors 22,689 27,714
Cash at bank and in hand 18,986 44,757
80,545 79,871
CREDITORS
Amounts falling due within one year 218,961 196,316
NET CURRENT LIABILITIES (138,416 ) (116,445 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,667

)

21,921

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings (11,167 ) 21,421
(10,667 ) 21,921

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

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

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 April 2025 and were signed on its behalf by:



Miss S M Kamarainen - Director


CLF ART LOUNGE LTD (REGISTERED NUMBER: 08993325)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Clf Art Lounge 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.

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 accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due to the continued support of the group companies.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 10% 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 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.

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.

CLF ART LOUNGE LTD (REGISTERED NUMBER: 08993325)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 191,013
Additions 6,170
At 30 April 2024 197,183
DEPRECIATION
At 1 May 2023 52,647
Charge for year 16,787
At 30 April 2024 69,434
NET BOOK VALUE
At 30 April 2024 127,749
At 30 April 2023 138,366

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Miss S M Kamarainen
Balance outstanding at start of year 6,000 -
Amounts advanced 9,500 6,000
Amounts repaid (6,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,500 6,000

CLF ART LOUNGE LTD (REGISTERED NUMBER: 08993325)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr M A Smith
Balance outstanding at start of year 6,000 -
Amounts advanced 9,500 6,000
Amounts repaid (6,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,500 6,000

6. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £3,865 (2023: £33,441) to Chronic Fonk Ltd, a company related by virtue of a common director.