2023-09-012024-08-312024-08-31false09013006CRG LONDON 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CRG LONDON LIMITED

Registered Number
09013006
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

CRG LONDON LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

NARZIBEKOV, Rustambek

Registered Address

Basement, 18 Thayer Street
London
W1U 3JY

Registered Number

09013006 (England and Wales)
CRG LONDON LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,052,8611,118,015
Investments41-
1,052,8621,118,015
Current assets
Debtors52,064,6601,815,091
Cash at bank and on hand9,865457,785
2,074,5252,272,876
Creditors amounts falling due within one year6(1,259,509)(673,318)
Net current assets (liabilities)815,0161,599,558
Total assets less current liabilities1,867,8782,717,573
Creditors amounts falling due after one year7(631,564)(1,763,323)
Provisions for liabilities8(111,585)(111,585)
Net assets1,124,729842,665
Capital and reserves
Called up share capital-1
Share premium9999
Profit and loss account1,124,630842,565
Shareholders' funds1,124,729842,665
The financial statements were approved and authorised for issue by the Director on 17 May 2025, and are signed on its behalf by:
NARZIBEKOV, Rustambek
Director
Registered Company No. 09013006
CRG LONDON LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Research and development
All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Plant and machinery-5
Fixtures and fittings20-
Vehicles25-
Office Equipment20-
Impairment of non-financial assets policy
Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
2.Average number of employees

20242023
Average number of employees during the year1727
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 September 231,326,819185,43126,507369,960-1,908,717
Additions18,85049,606-7,1322,39677,984
At 31 August 241,345,669235,03726,507377,0922,3961,986,701
Depreciation and impairment
At 01 September 23474,94538,05516,345261,357-790,702
Charge for year76,37841,4042,54122,617198143,138
At 31 August 24551,32379,45918,886283,974198933,840
Net book value
At 31 August 24794,346155,5787,62193,1182,1981,052,861
At 31 August 23851,874147,37610,162108,603-1,118,015
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
Additions11
At 31 August 2411
Net book value
At 31 August 2411
At 31 August 23--

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,310,844850,668
Amounts owed by group undertakings489,319628,571
Other debtors258,679333,990
Prepayments and accrued income5,8181,862
Total2,064,6601,815,091
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables177,790185,479
Bank borrowings and overdrafts-2
Amounts owed to related parties985,111444,782
Taxation and social security52,56734,093
Other creditors42,3912,562
Accrued liabilities and deferred income1,6506,400
Total1,259,509673,318
7.Creditors: amounts due after one year

2024

2023

££
Amounts owed to related parties379,8391,511,598
Other creditors251,725251,725
Total631,5641,763,323
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)111,585111,585
Total111,585111,585
9.Related party transactions
At the year end the company owed £25,000 (2023 - £Nil) to 149 QW Limited, a fellow group undertaking, in respect of an interest free loan which is repayable on demand. At the year end the company owed £966,679 (2023 - £213,060) to Zephyr 100 Limited, a fellow group undertaking, in respect of an interest free loan which is repayable on demand. At the year end the company was owed £28,155 (2023 - £173,120 was owed to) by Pachamamarestaurant Limited, a fellow group undertaking, in respect of an interest free loan which is repayable on demand. At the year end the company was owed £207,704 (2023 - £341,670) by Juzo London Limited, a fellow group undertaking, in respect of an interest free loan which is repayable on demand. At the year end the company was owed £163,348 (2023 - £163,297) by Mamalama Limited, a fellow group undertaking, in respect of an interest free loan which is repayable on demand. At the year end the company owed £283,726 (2023 - £762,250) to Chicama Limited, a fellow group undertaking, in respect of an interest free loan. At the year end the company owed £96,113 (2023 - £749,348) to Narzi Group Limited, a fellow group undertaking, in respect of an interest free loan.
10.Prior period policy changes
Reclassification of corporation tax balance: In the prior year, P&L balance of corporation tax was presented under creditors that, upon review, should have been recorded under P&L statement due to the nature. The classification has been corrected in the current year. The prior year comparatives have been restated by corporation tax balance. This reclassification has impact on the net assets, profit or loss of the company.