Company registration number 03281350 (England and Wales)
CRYSTALIGHT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
CRYSTALIGHT LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
CRYSTALIGHT LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
37,396
-
0
Investment property
5
21,347,501
19,685,000
Investments
6
7,500,899
7,500,899
28,885,796
27,185,899
Current assets
Debtors
1,454,889
1,429,518
Cash at bank and in hand
24,491
38,290
1,479,380
1,467,808
Creditors: amounts falling due within one year
(11,235,185)
(10,973,714)
Net current liabilities
(9,755,805)
(9,505,906)
Total assets less current liabilities
19,129,991
17,679,993
Creditors: amounts falling due after more than one year
(13,999,088)
(13,543,772)
Provisions for liabilities
(689,024)
(467,060)
Net assets
4,441,879
3,669,161
Capital and reserves
Called up share capital
7
2
2
Non-distributable reserve
8
2,067,072
2,136,968
Profit and loss reserves
2,374,805
1,532,191
Total equity
4,441,879
3,669,161
CRYSTALIGHT LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

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

The financial statements were approved and signed by the director and authorised for issue on 28 May 2025
Mr H Kaveh Baghbadrani
Director
Company registration number 03281350 (England and Wales)
CRYSTALIGHT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information

Crystalight Limited is a private company limited by shares incorporated in England and Wales. The registered office is 251-253 Wells Road, Malvern Wells, Malvern, Worcestershire, WR14 4JF.

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 have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The company had net current liabilities trueand net liabilities at the year end. The director has considered the working capital needs of the company for a period of greater than twelve months from the date of approval of these financial statements. The director concludes that he will be able to generate sufficient working capital funding through the support of himself and other companies that he controls to enable this company to operate as a going concern. As a result director considers it appropriate to prepare these financial statements on the going concern basis of accounting.

1.3
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:

Motor vehicles
20% Reducing balance
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries are recognised at cost.

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.

CRYSTALIGHT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2024
2023
Number
Number
Total
5
1
4
Tangible fixed assets
Motor vehicles
£
Cost
At 1 September 2023
-
0
Additions
46,745
At 31 August 2024
46,745
Depreciation and impairment
At 1 September 2023
-
0
Depreciation charged in the year
9,349
At 31 August 2024
9,349
Carrying amount
At 31 August 2024
37,396
At 31 August 2023
-
0
CRYSTALIGHT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
5
Investment property
2024
£
Fair value
At 1 September 2023
19,685,000
Additions
775,028
Revaluations
887,473
At 31 August 2024
21,347,501

The fair value of the investment properties has been arrived at on the basis of valuations carried out by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings
7,500,899
7,500,899
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
8
Non-distributable reserve
2024
2023
£
£
At the beginning of the year
2,136,968
-
0
Deferred tax on revaluation of tangible assets
(221,868)
(712,323)
Transfer to retained earnings
(735,501)
-
0
Revaluations in the year
887,473
2,849,291
At the end of the year
2,067,072
2,136,968
CRYSTALIGHT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
9
Related party transactions
Transactions with related parties

Watin Limited

Subsidiary company
In previous periods, this company collected rents and paid expenses on behalf of the related party and acquired some of the related party's investment income portfolio on an arms length basis. At the year end £5,756,023 (2023: £5,830,440) was owed to the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

Cedarbranch Limited

Subsidiary company
This company has paid costs and expenses on behalf of the related party. At the year end £76,838 (2023: £325,867) was owed by the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

Pittville Properties Limited

Company under common control
This company has advanced money to the related party as working capital. It has also collected rents on behalf of the related party and provided that company with administrative, accounting and management support. At the year end £5,944 (2023: £4,797) was owed by the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

Abbey College in Malvern Limited

Company under common control
The related party has advanced money to this company for working capital. At the year end £1,825,401 (2023: £1,268,578) was due to the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

Shafie Accumulation and Maintenance Trust

Trust in which the sole director is a trustee
The related party has provided working capital funding to this company. At the year end £265,166 (2023: £265,166) was due to the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

A.D.B. (Malvern) Limited

Company under common control
This company has advanced money to the related party for working capital. At the year end £99,959 (2023: £325,867) was owed by the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

H Kaveh Baghbadrani

Sole director
The related party has provided funding to this company for working capital and to enable it to acquire and develop properties. During the year, this company charged management fees to the related party and his wife on an arms length basis totalling £80,433 (£80,000). At the year end £1,623,531 (2023: £1,916,754) was due to the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

My Freeholds Limited

Company under common control
This company acts as agent for the collection of rents on behalf of the related party. This company has received money from the related party for working capital. At the year end £1,027,686 (2023: £1,006,053) was due to the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

CRYSTALIGHT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
9
Related party transactions
(Continued)
- 7 -

Malvern Freeholds Limited

Company under common control
This company has advanced money to the related party as working capital and to finance certain expenses of that company. At the year end £152,446 (2023: £154,983) was due from the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

Ellingham House Flats Limited

Company under common control
This company has advanced money to the related party as working capital and to finance certain expenses of that company. At the year end £165,403 (2023: £171,115) was due from the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

Ellingham House Limited

Company under common control
This company has advanced money to the related party as working capital and to finance certain expenses of that company. At the year end £407,921 (2023: £399,512) was due from the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

Mirkamali Limited

Company under common control
This company has advanced money to the related party as working capital and to finance certain expenses of that company. At the year end £1,482 (2023: £1,094 due to) was due from the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

Rodney Road Limited

Company under common control
This company has advanced money to the related party as working capital and to finance certain expenses of that company. At the year end £16,726 (2023: £8,322) was due from the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

New Baskerville House Ltd

Company under common control
This company has advanced money to the related party as working capital and to finance certain expenses of that company. At the year end £29,892 (2023: £45,318) was due from the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

Linked Endeavours Ltd

Company under common control
This company has advanced money to the related party as working capital and to finance certain expenses of that company. At the year end £nil (2023 £266) was due from the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

Watin UK Ltd

Subsidiary company
The related party has advanced money to this company for working capital. At the year end £499,855 (2023 £375,874) was owed to the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

 

St Margaret's (Cheltenham) Ltd

Company under common control
This company has received money from the related party for working capital. At the year end £7,837 (2023 £520) was due to the related party. This debt is unsecured; no terms of interest or repayment have been agreed.

2024-08-312023-09-01falsefalsefalse28 May 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr H Kaveh Baghbadrani032813502023-09-012024-08-31032813502024-08-31032813502023-08-3103281350core:MotorVehicles2024-08-3103281350core:MotorVehicles2023-08-3103281350core:ShareCapital2024-08-3103281350core:ShareCapital2023-08-3103281350core:RevaluationReserve2024-08-3103281350core:RevaluationReserve2023-08-3103281350core:RetainedEarningsAccumulatedLosses2024-08-3103281350core:RetainedEarningsAccumulatedLosses2023-08-3103281350core:ShareCapitalOrdinaryShareClass12024-08-3103281350core:ShareCapitalOrdinaryShareClass12023-08-3103281350core:RevaluationReserve2023-08-3103281350core:RevaluationReserve2022-08-3103281350bus:Director12023-09-012024-08-3103281350core:MotorVehicles2023-09-012024-08-31032813502022-09-012023-08-3103281350core:MotorVehicles2023-08-31032813502023-08-3103281350bus:OrdinaryShareClass12023-09-012024-08-3103281350bus:OrdinaryShareClass12024-08-3103281350bus:OrdinaryShareClass12023-08-3103281350core:RevaluationReserve2023-09-012024-08-3103281350core:RevaluationReserve2022-09-012023-08-3103281350bus:PrivateLimitedCompanyLtd2023-09-012024-08-3103281350bus:SmallCompaniesRegimeForAccounts2023-09-012024-08-3103281350bus:FRS1022023-09-012024-08-3103281350bus:AuditExemptWithAccountantsReport2023-09-012024-08-3103281350bus:FullAccounts2023-09-012024-08-31xbrli:purexbrli:sharesiso4217:GBP