Registration number:
Crystal House Holdings Limited
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Crystal House Holdings Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Crystal House Holdings Limited
Company Information
Director |
M P Gregory |
Registered office |
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Accountants |
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Crystal House Holdings Limited
Statement of Financial Position as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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- |
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Investment properties |
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Investments |
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Other financial assets |
493,311 |
334,605 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions for liabilities |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Crystal House Holdings Limited
Statement of Financial Position as at 31 December 2023
Approved and authorised by the
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M P Gregory
Director
Company registration number: 01551393
Crystal House Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of property investment and the provision of consultancy services.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Going concern
The company made a profit for the year ended 31 December 2023 and had net assets at that date amounting to £1,824,563 including cash at bank of £36,587.
The company also has net current liabilities at 31 December 2023 of £1,327,392. At this date an amount of £2,631,203 was due to the director, who has confirmed that he will not call for repayment until such time as the company has sufficient working capital and will continue to support the company for the foreseeable future.
After making enquiries, the director believes that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the director considers it appropriate to continue to adopt the going concern basis in preparing the accounts.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax.
The company recognises revenue from rental income over the period of the leases or licences and from consultancy services over the period in which the services are supplied.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Crystal House Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
25% straight line |
Investment property
Investments
Investments are measured at cost less impairment.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Crystal House Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Staff numbers |
The average number of persons employed by the company during the year, was
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
- |
- |
At 31 December 2023 |
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- |
Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Investment properties |
Fair value |
2023 |
At 1 January 2023 |
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Additions |
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Disposals |
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At 31 December 2023 |
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The investment properties are reflected at fair value at 31 December 2023 as estimated by the director at an amount of £2,838,184.
Crystal House Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Investments |
2023 |
2022 |
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Investments in joint ventures |
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Joint ventures |
£ |
Cost |
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At 1 January 2023 and 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 January 2023 |
334,605 |
334,605 |
Reversal of previous impairment provision |
3,706 |
3,706 |
Additions |
155,000 |
155,000 |
At 31 December 2023 |
493,311 |
493,311 |
Carrying amount |
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At 31 December 2023 |
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493,311 |
Debtors |
2023 |
2022 |
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Other debtors |
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Crystal House Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Reserves |
Profit and loss account - this reserve records retained earnings and accumulated losses. At 31 December 2023 this reserve includes an amount of £713,951 which is non-distributable.