C L Lifestyles Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07155804 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

C L Lifestyles Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R N Webb

Mrs C Webb

SECRETARY:

Mrs C Webb

REGISTERED OFFICE:

40 St James Buildings

St James Street

Taunton

Somerset

TA1 1JR

REGISTERED NUMBER:

07155804 (England and Wales)

ACCOUNTANTS:

Cooper Associates Accountants Ltd

40 St James Buildings

St James Street

Taunton

Somerset

TA1 1JR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,809

2,256

1,809

2,256

CURRENT ASSETS

Debtors

6

33,937

39,704

Cash at bank and in hand

34,315

24,652

68,252

64,356

CREDITORS

Amounts falling due within one year

7

55,195

47,966

NET CURRENT ASSETS

13,057

16,390

TOTAL ASSETS LESS CURRENT LIABILITIES

14,866

18,646

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

14,766

18,546

SHAREHOLDERS' FUNDS

14,866

18,646

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

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 4 December 2020 and were signed on its behalf by:

Mrs C Webb - Director

1.	STATUTORY INFORMATION

C L Lifestyles 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.

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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2010, has been amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

25% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2019 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

15,000

AMORTISATION

At 1 April 2019

and 31 March 2020

15,000

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

5.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 April 2019

7,485

Additions

159

At 31 March 2020

7,644

DEPRECIATION

At 1 April 2019

5,229

Charge for year

606

At 31 March 2020

5,835

NET BOOK VALUE

At 31 March 2020

1,809

At 31 March 2019

2,256

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

33,237

39,004

Other debtors

700

700

33,937

39,704

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

68

782

Tax

15,993

13,935

PAYE payable

3,226

5,525

Wages payable

23,479

25,601

Pension payable

989

333

Other creditors

423

-

Directors' loan accounts

10,527

582

Accruals and deferred income

490

1,208

55,195

47,966

8.	RELATED PARTY DISCLOSURES

During the year the company paid dividends to the directors amounting to £71,512 (2019: £49,200)