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REGISTERED NUMBER: 03687985 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

CRYSTAL LIFE LIMITED

CRYSTAL LIFE LIMITED (REGISTERED NUMBER: 03687985)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRYSTAL LIFE LIMITED

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: A Solomonides
D Kapur





SECRETARY: Mrs G Polcaro





REGISTERED OFFICE: First Floor
677 High Road
North Finchley
London
N12 0DA





REGISTERED NUMBER: 03687985 (England and Wales)





ACCOUNTANTS: Bramil Associates LLP
First Floor
677 High Road
North Finchley
London
N12 0DA

CRYSTAL LIFE LIMITED (REGISTERED NUMBER: 03687985)

BALANCE SHEET
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 159,250 182,000
Tangible assets 5 23,864 25,244
183,114 207,244

CURRENT ASSETS
Debtors 6 102,235 134,693
Cash at bank and in hand 3,426 897
105,661 135,590
CREDITORS
Amounts falling due within one year 7 102,169 155,812
NET CURRENT ASSETS/(LIABILITIES) 3,492 (20,222 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

186,606

187,022

CREDITORS
Amounts falling due after more than one
year

8

(175,000

)

(175,000

)

PROVISIONS FOR LIABILITIES 9 - (409 )
NET ASSETS 11,606 11,613

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,606 1,613
SHAREHOLDERS' FUNDS 11,606 11,613

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CRYSTAL LIFE LIMITED (REGISTERED NUMBER: 03687985)

BALANCE SHEET - continued
29 February 2024


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 Board of Directors and authorised for issue on 8 November 2024 and were signed on its behalf by:





A Solomonides - Director


CRYSTAL LIFE LIMITED (REGISTERED NUMBER: 03687985)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Crystal Life 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.

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 represents financial services income received and accrued for the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

CRYSTAL LIFE LIMITED (REGISTERED NUMBER: 03687985)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 227,500
AMORTISATION
At 1 March 2023 45,500
Charge for year 22,750
At 29 February 2024 68,250
NET BOOK VALUE
At 29 February 2024 159,250
At 28 February 2023 182,000

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2023
and 29 February 2024 36,109 6,650 19,397 34,772 96,928
DEPRECIATION
At 1 March 2023 13,501 6,620 18,163 33,400 71,684
Charge for year 722 7 308 343 1,380
At 29 February 2024 14,223 6,627 18,471 33,743 73,064
NET BOOK VALUE
At 29 February 2024 21,886 23 926 1,029 23,864
At 28 February 2023 22,608 30 1,234 1,372 25,244

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 5,000 35,798
Directors' current accounts 522 -
Prepayments and accrued income 96,713 98,895
102,235 134,693

CRYSTAL LIFE LIMITED (REGISTERED NUMBER: 03687985)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 47,651 73,501
Social security and other taxes 1,570 3,414
Other creditors 690 2,987
Corporation tax 44,758 41,184
Accruals and deferred income - 31,984
Accrued expenses 7,500 2,742
102,169 155,812

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Preference shares 175,000 175,000

9. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax - 409

Deferred
tax
£   
Balance at 1 March 2023 409
Balance at 29 February 2024 409