Company registration number 05814928 (England and Wales)
Crystal Property & Land Limited
financial statements
For the year ended 31 December 2023
Crystal Property & Land Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
Crystal Property & Land Limited
Statement of financial position
As at 31 December 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
18,063
24,084
Current assets
Debtors
5
8,371,493
4,189,260
Cash at bank and in hand
68,762
385,513
8,440,255
4,574,773
Creditors: amounts falling due within one year
6
(8,371,341)
(4,551,445)
Net current assets
68,914
23,328
Total assets less current liabilities
86,977
47,412
Provisions for liabilities
(4,516)
-
0
Net assets
82,461
47,412
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
82,460
47,411
Total equity
82,461
47,412

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 19 September 2024 and are signed on its behalf by:
Mr S J Ashworth
Mr A C Park
Director
Director
Company registration number 05814928 (England and Wales)
Crystal Property & Land Limited
Notes to the financial statements
For the year ended 31 December 2023
- 2 -
1
Accounting policies
Company information

Crystal Property & Land Limited is a private company limited by shares incorporated in England and Wales. The registered office is 40 Peter Street, Manchester, England, M2 5GP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements cover the company as an individual entity,

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

 

1.2
Going concern

The financial statements have been prepared on a going concern basis on the assumption that thetrue company has adequate resources to continue in operational existence for the foreseeable future. The directors have made this assessment with regard to the company’s current and expected performance.

1.3
Turnover

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

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
10% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Crystal Property & Land Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Crystal Property & Land Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
14,020
8,317
Deferred tax
Origination and reversal of timing differences
4,516
-
0
Total tax charge
18,536
8,317
Crystal Property & Land Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
- 5 -
4
Tangible fixed assets
Plant and equipment
£
Cost
At 1 January 2023 and 31 December 2023
91,388
Depreciation and impairment
At 1 January 2023
67,304
Depreciation charged in the year
6,021
At 31 December 2023
73,325
Carrying amount
At 31 December 2023
18,063
At 31 December 2022
24,084
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
7,624,675
3,478,496
Other debtors
78,702
58,486
Prepayments and accrued income
668,116
652,278
8,371,493
4,189,260
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
757,863
1,297,332
Amounts owed to group undertakings
7,555,050
3,178,184
Corporation tax
22,530
12,792
Other taxation and social security
35,898
63,137
8,371,341
4,551,445
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
Crystal Property & Land Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
- 6 -
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Susan Redmond FCA
Statutory Auditor:
DJH Audit Limited
9
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
2,150
13,400
10
Ultimate parent company

The company is a 100% owned subsidiary of Arrowmere Holdings Limited, which is the ultimate parent company. The ultimate parent company prepares consolidated financial statements as at 31 December 2023 and these financial statements may be obtained from 40 Peter Street, Manchester, M2 5GP.

2023-12-312023-01-01false23 September 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityThis audit opinion is unqualifiedMr Stephen John AshworthMr Andrew Charles ParkMrs Julie BlackMr Henry Phillip HillMr Samuel David AshworthMs A L BeumontMrs J Blackfalsefalse058149282023-01-012023-12-31058149282023-12-31058149282022-12-3105814928core:PlantMachinery2023-12-3105814928core:PlantMachinery2022-12-3105814928core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3105814928core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3105814928core:CurrentFinancialInstruments2023-12-3105814928core:CurrentFinancialInstruments2022-12-3105814928core:ShareCapital2023-12-3105814928core:ShareCapital2022-12-3105814928core:RetainedEarningsAccumulatedLosses2023-12-3105814928core:RetainedEarningsAccumulatedLosses2022-12-3105814928bus:Director12023-01-012023-12-3105814928bus:Director22023-01-012023-12-3105814928core:PlantMachinery2023-01-012023-12-31058149282022-01-012022-12-3105814928core:UKTax2023-01-012023-12-3105814928core:UKTax2022-01-012022-12-3105814928core:PlantMachinery2022-12-3105814928bus:PrivateLimitedCompanyLtd2023-01-012023-12-3105814928bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105814928bus:FRS1022023-01-012023-12-3105814928bus:Audited2023-01-012023-12-3105814928bus:Director32023-01-012023-12-3105814928bus:Director42023-01-012023-12-3105814928bus:Director52023-01-012023-12-3105814928bus:Director62023-01-012023-12-3105814928bus:CompanySecretary12023-01-012023-12-3105814928bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP