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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CRYSTALHAVEN LIMITED

CRYSTALHAVEN LIMITED (REGISTERED NUMBER: 04061185)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CRYSTALHAVEN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mrs S L Hulme





SECRETARY: Lincoln Secretaries Limited





REGISTERED OFFICE: 3rd Floor East
12 Bridewell Place
London
EC4V 6AP





REGISTERED NUMBER: 04061185





ACCOUNTANTS: Somers Baker Prince Kurz LLP
Chartered Accountants
Chancellors House
3 Brampton Lane
Hendon
London
NW4 4AB

CRYSTALHAVEN LIMITED (REGISTERED NUMBER: 04061185)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes €    €    €    €   
FIXED ASSETS
Investments 4 1 1

CURRENT ASSETS
Debtors 5 21,603,000 21,148,000
Cash at bank 4,874 6,352
21,607,874 21,154,352
CREDITORS
Amounts falling due within one year 6 23,462,188 22,984,074
NET CURRENT LIABILITIES (1,854,314 ) (1,829,722 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,854,313

)

(1,829,721

)

CAPITAL AND RESERVES
Called up share capital 1,450 1,450
Retained earnings (1,855,763 ) (1,831,171 )
SHAREHOLDERS' FUNDS (1,854,313 ) (1,829,721 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 7 August 2024 and were signed by:





Mrs S L Hulme - Director


CRYSTALHAVEN LIMITED (REGISTERED NUMBER: 04061185)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Crystalhaven Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Euro (€).


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.

Preparation of consolidated financial statements
The financial statements contain information about Crystalhaven Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments
discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

CRYSTALHAVEN LIMITED (REGISTERED NUMBER: 04061185)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Going concern
The company's statement of financial position shows substantial net deficit at the reporting date. However, the director has reasonable expectation that the company will continue to receive financial support from its parent undertaking, providing adequate resources for it to continue in operational existence for a period of at least twelve months from the date of approval of these financial statements.The director therefore continues to adopt the going concern basis in preparing the company's financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
€   
COST
At 1 January 2023
and 31 December 2023 1,500,000
PROVISIONS
At 1 January 2023
and 31 December 2023 1,499,999
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
€    €   
Amounts owed by group undertakings 21,603,000 21,148,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
€    €   
Trade creditors - 22,275
Amounts owed to parent undertaking 23,444,841 22,959,841
Accrued expenses 17,347 1,958
23,462,188 22,984,074

7. RELATED PARTY DISCLOSURES

The amount owed by the subsidiary undertaking , Divine Finance SA, to the company at the reporting date was €21,603,000 (31 December 2022: €21,148,000). The loan to its subsidiary undertaking is unsecured, interest-free and repayable within 30-days' notice.

The amount owed by the company to its parent undertaking, Crisalem Investment Limited, at the reporting date was €23,844,841 (31 December 2021: €22,959,841). The loan from its parent undertaking is unsecured, interest-free and repayable within 30-days' notice.

8. ULTIMATE CONTROLLING PARTY

The company's parent and ultimate parent undertaking is Crisalem Investment Ltd, a company registered in British Virgin Islands.