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REGISTERED NUMBER: 04931573 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

CRYSTAL WEALTH MANAGEMENT LIMITED

CRYSTAL WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 04931573)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRYSTAL WEALTH MANAGEMENT LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C J Hughes
P R Godsell
D S Brimblecombe
J W Morrison





SECRETARY: J W Morrison





REGISTERED OFFICE: Unit 12
Henfield Business Park
Westerleigh Road
Bristol
BS36 2UP





REGISTERED NUMBER: 04931573 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
6-8 Bath Street
Bristol
BS1 6HL

CRYSTAL WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 04931573)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 6,350 4,481
6,350 4,481

CURRENT ASSETS
Debtors 6 45,187 38,461
Cash at bank and in hand 513,992 498,206
559,179 536,667
CREDITORS
Amounts falling due within one year 7 (222,985 ) (175,395 )
NET CURRENT ASSETS 336,194 361,272
TOTAL ASSETS LESS CURRENT
LIABILITIES

342,544

365,753

CAPITAL AND RESERVES
Called up share capital 9 520 540
Capital redemption reserve 80 60
Retained earnings 341,944 365,153
SHAREHOLDERS' FUNDS 342,544 365,753

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 04931573)

Balance Sheet - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 9 January 2025 and were signed on its behalf by:





C J Hughes - Director


CRYSTAL WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 04931573)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. COMPANY INFORMATION

Crystal Wealth Management 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 principal activity of the company in the year under review was that of financial services.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

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

Going concern
The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. On this basis, the directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, has been fully amortised over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

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 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 WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 04931573)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. 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.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 25 (2023 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 93,164
AMORTISATION
At 1 April 2023
and 31 March 2024 93,164
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

CRYSTAL WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 04931573)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 3,169 18,747 21,916
Additions - 6,621 6,621
At 31 March 2024 3,169 25,368 28,537
DEPRECIATION
At 1 April 2023 2,655 14,780 17,435
Charge for year 128 4,624 4,752
At 31 March 2024 2,783 19,404 22,187
NET BOOK VALUE
At 31 March 2024 386 5,964 6,350
At 31 March 2023 514 3,967 4,481

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 39,337 38,461
Other debtors 5,400 -
Prepayments and accrued income 450 -
45,187 38,461

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 170,788 127,816
Social security and other taxes 7,457 8,111
VAT 474 478
Other creditors 1,795 192
Directors' current accounts 1 2,604
Accrued expenses 42,470 36,194
222,985 175,395

CRYSTAL WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 04931573)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 21,600 10,800
Between one and five years 19,800 54,000
41,400 64,800

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
50 Ordinary C £1 50 50
50 Ordinary D £1 50 50
50 Ordinary E £1 50 50
50 Ordinary F £1 50 50
60 Ordinary G £1 60 60
40 Ordinary H £1 40 40
12 Ordinary I £1 12 24
8 Ordinary J £1 8 16
50 Ordinary K £1 50 50
50 Ordinary L £1 50 50
520 540

On 29 July 2023 the company purchased 20 of its own ordinary shares for a consideration of £96,000.