Creating Lifestyles Homes Limited

Contents
	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. Accounting Policies

1.1. 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.

1.2. 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.

1.3. 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.

1.4. 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:

Fixtures & Fittings

50% Straight Line Method

1.5. 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.

1.6. 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.

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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Creating Lifestyles Homes Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 2 (2024: 3)

3. Tangible Assets

	Investment Properties	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 March 2024	127,025	-	127,025
Additions	-	40,000	40,000

As at 28 February 2025	127,025	40,000	167,025

Depreciation
As at 1 March 2024	-	-	-
Provided during the period	-	20,000	20,000

As at 28 February 2025	-	20,000	20,000

Net Book Value
As at 28 February 2025	127,025	20,000	147,025

As at 1 March 2024	127,025	-	127,025

4. Debtors

	2025	2024
	£	£
Due within one year
Corporation tax recoverable assets	295,100	295,100
Directors' loan accounts	741,535	898,853
Amounts owed by associates	2,397	-

	1,039,032	1,193,953

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Corporation tax	545,256	514,064
Other taxes and social security	7,584	5,164
VAT	620,588	535,263
Accruals and deferred income	-	479
Amounts owed to associates	40,328	28,735

	1,213,756	1,083,705

6. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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Creating Lifestyles Homes Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

7. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 March 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 28 February 2025
	£	£	£	£	£
Mr Charanjeet Singh	458,415	-	80,232	-	378,183
Mrs Satnam Kaur Roadh	440,438	-	77,085	-	363,352

The above loan is unsecured, interest free and repayable on demand.

8. Related Party Transactions

C.S LONDON PROPERTIES LIMITED