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REGISTERED NUMBER: 03687985 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

CRYSTAL LIFE LIMITED

CRYSTAL LIFE LIMITED (REGISTERED NUMBER: 03687985)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRYSTAL LIFE LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2023







DIRECTORS: A Solomonides
D Kapur





SECRETARY: Mrs G Polcaro





REGISTERED OFFICE: First Floor
677 High Road
North Finchley
London
N12 0DA





REGISTERED NUMBER: 03687985 (England and Wales)





ACCOUNTANTS: Bramil Associates LLP
First Floor
677 High Road
North Finchley
London
N12 0DA

CRYSTAL LIFE LIMITED (REGISTERED NUMBER: 03687985)

BALANCE SHEET
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 182,000 204,750
Tangible assets 5 25,244 26,846
207,244 231,596

CURRENT ASSETS
Debtors 6 134,693 137,393
Cash at bank and in hand 897 405
135,590 137,798
CREDITORS
Amounts falling due within one year 7 155,812 168,957
NET CURRENT LIABILITIES (20,222 ) (31,159 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

187,022

200,437

CREDITORS
Amounts falling due after more than one
year

8

(175,000

)

(175,000

)

PROVISIONS FOR LIABILITIES 9 (409 ) (556 )
NET ASSETS 11,613 24,881

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,613 14,881
SHAREHOLDERS' FUNDS 11,613 24,881

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

CRYSTAL LIFE LIMITED (REGISTERED NUMBER: 03687985)

BALANCE SHEET - continued
28 February 2023


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 21 November 2023 and were signed on its behalf by:





A Solomonides - Director


CRYSTAL LIFE LIMITED (REGISTERED NUMBER: 03687985)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Crystal Life Limited 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 represents financial services income received and accrued for the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being 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.
Improvements to property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

CRYSTAL LIFE LIMITED (REGISTERED NUMBER: 03687985)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 227,500
AMORTISATION
At 1 March 2022 22,750
Charge for year 22,750
At 28 February 2023 45,500
NET BOOK VALUE
At 28 February 2023 182,000
At 28 February 2022 204,750

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2022
and 28 February 2023 36,109 6,650 19,397 34,772 96,928
DEPRECIATION
At 1 March 2022 12,779 6,609 17,751 32,943 70,082
Charge for year 722 11 412 457 1,602
At 28 February 2023 13,501 6,620 18,163 33,400 71,684
NET BOOK VALUE
At 28 February 2023 22,608 30 1,234 1,372 25,244
At 28 February 2022 23,330 41 1,646 1,829 26,846

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 35,798 18,559
Prepayments and accrued income 98,895 118,834
134,693 137,393

CRYSTAL LIFE LIMITED (REGISTERED NUMBER: 03687985)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 73,501 83,704
Social security and other taxes 3,414 2,535
Other creditors 2,987 20,152
Corporation tax 41,184 21,942
Directors' current accounts - 1,000
Accruals and deferred income 31,984 36,882
Accrued expenses 2,742 2,742
155,812 168,957

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Preference shares 175,000 175,000

9. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax 409 556

Deferred
tax
£   
Balance at 1 March 2022 556
Provided during year (147 )
Balance at 28 February 2023 409