CB LIFESTYLE PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
CB Lifestyle Projects Limited is a private company, limited by shares, registered in England and Wales, registration number 10549990. The registered office is 10 Queen Street Place, London, EC4R 1AG.
The presentational and functional currency is £ GBP.
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
During the year ended 31 May 2024 the company made a loss of £11,239 (2023: £108,659) and had retained losses of £606,240 (2023: £595,109). The financial statements have been prepared on a going concern basis, the applicability of which is dependent on the continuous financial support from the director. The director has reviewed the company's liabilities over the next 12 months and considers the business to be a going concern.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short term creditors are measured at the transaction price.
The average monthly number of employees, including directors, during the period was 1 (2023 - 1).
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