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REGISTERED NUMBER: 03789810 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Crystal Radio Systems Limited

Crystal Radio Systems Limited (Registered number: 03789810)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Crystal Radio Systems Limited

Company Information
for the year ended 31 January 2024







DIRECTOR: G M Clarke





REGISTERED OFFICE: Kembrey House
5 Worcester Road
Bromsgrove
Worcestershire
B61 7DL





REGISTERED NUMBER: 03789810 (England and Wales)





ACCOUNTANTS: Pinfields Limited
Chartered Accountants
Meryll House
57 Worcester Road
Bromsgrove
Worcestershire
B61 7DN

Crystal Radio Systems Limited (Registered number: 03789810)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,044 75,043

CURRENT ASSETS
Stocks 46,343 65,266
Debtors 5 159,472 225,250
Cash at bank and in hand 40,300 20,326
246,115 310,842
CREDITORS
Amounts falling due within one year 6 232,461 271,527
NET CURRENT ASSETS 13,654 39,315
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,698

114,358

CREDITORS
Amounts falling due after more than one
year

7

(24,242

)

(105,035

)

PROVISIONS FOR LIABILITIES (2,161 ) (522 )
NET ASSETS 295 8,801

Crystal Radio Systems Limited (Registered number: 03789810)

Balance Sheet - continued
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 95 8,601
SHAREHOLDERS' FUNDS 295 8,801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2024 and were signed by:





G M Clarke - Director


Crystal Radio Systems Limited (Registered number: 03789810)

Notes to the Financial Statements
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Crystal Radio Systems 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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

Sale of goods - Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Crystal Radio Systems Limited (Registered number: 03789810)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

Crystal Radio Systems Limited (Registered number: 03789810)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2023 80,183 108,500 188,683
Additions 3,380 - 3,380
Disposals - (108,500 ) (108,500 )
At 31 January 2024 83,563 - 83,563
DEPRECIATION
At 1 February 2023 66,171 47,469 113,640
Charge for year 4,348 - 4,348
Eliminated on disposal - (47,469 ) (47,469 )
At 31 January 2024 70,519 - 70,519
NET BOOK VALUE
At 31 January 2024 13,044 - 13,044
At 31 January 2023 14,012 61,031 75,043

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2023 108,500
Disposals (108,500 )
At 31 January 2024 -
DEPRECIATION
At 1 February 2023 47,469
Eliminated on disposal (47,469 )
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 61,031

Crystal Radio Systems Limited (Registered number: 03789810)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 69,454 93,389
Other debtors 68,559 33,559
Directors' current accounts - 78,690
S455 tax debtor 17,446 17,446
Prepayments 4,013 2,166
159,472 225,250

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 18,182 80,482
Hire purchase contracts - 18,412
Trade creditors 126,811 88,340
Tax 32,172 5,372
S455 tax payable - 17,446
Social security and other taxes 3,708 2,436
Pension creditor 580 581
VAT 37,950 37,754
EFRB liability 10,530 18,954
Directors' current accounts 510 -
Accrued expenses 2,018 1,750
232,461 271,527

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 18,182 18,182
Bank loans - 2-5 years 6,060 24,242
Hire purchase contracts - 62,611
24,242 105,035

Crystal Radio Systems Limited (Registered number: 03789810)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 42,424 60,606
Hire purchase contracts - 81,023
42,424 141,629

Lloyds Bank PLC hold a fixed charge, a floating charge and a negative pledge over the company.

Amounts owing on hire purchase agreements are secured on the assets concerned.
The bank loan is secured by a fixed and floating charge over all assets.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
G M Clarke
Balance outstanding at start of year 78,690 -
Amounts advanced 175,158 154,690
Amounts repaid (253,848 ) (76,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 78,690