Registered number
05257363
Crystalspark Limited
Filleted Accounts
31 October 2023
Crystalspark Limited
Registered number: 05257363
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 736,732 749,108
Investments 4 222,442 222,442
959,174 971,550
Current assets
Debtors 5 35,000 35,000
Cash at bank and in hand 766 862
35,766 35,862
Creditors: amounts falling due within one year 6 (135,704) (225,324)
Net current liabilities (99,938) (189,462)
Total assets less current liabilities 859,236 782,088
Creditors: amounts falling due after more than one year 7 (80,527) -
Net assets 778,709 782,088
Capital and reserves
Called up share capital 35,000 35,000
Profit and loss account 743,709 747,088
Shareholders' funds 778,709 782,088
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S F Williams
Director
Approved by the board on 1 July 2024
Crystalspark Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 November 2022 836,595
At 31 October 2023 836,595
Depreciation
At 1 November 2022 87,487
Charge for the year 12,376
At 31 October 2023 99,863
Net book value
At 31 October 2023 736,732
At 31 October 2022 749,108
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 November 2022 222,442
At 31 October 2023 222,442
5 Debtors 2023 2022
£ £
Other debtors 35,000 35,000
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,487 97,641
Trade creditors 112 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 120,000 120,000
Taxation and social security costs 6,978 6,408
Other creditors 1,127 1,275
135,704 225,324
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 80,527 -
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 88,014 97,641
Loan sucured on property owned by the company.
9 Controlling party
The controlling party is Mr S Williams.
10 Other information
Crystalspark Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6 Morrow Court
Owen Drive
Speke
Liverpool
L24 1YL
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