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Registration number: 01551393

Crystal House Holdings Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Crystal House Holdings Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Crystal House Holdings Limited

Company Information

Director

M P Gregory

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Crystal House Holdings Limited

Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,625

3,500

Investment properties

5

2,883,920

2,838,184

Investments

6

50

50

Other financial assets

7

393,411

493,311

 

3,280,006

3,335,045

Current assets

 

Debtors

8

2,108,284

1,365,889

Cash at bank and in hand

 

6,573

36,587

 

2,114,857

1,402,476

Creditors: Amounts falling due within one year

9

(3,376,749)

(2,729,868)

Net current liabilities

 

(1,261,892)

(1,327,392)

Total assets less current liabilities

 

2,018,114

2,007,653

Provisions for liabilities

(165,562)

(183,090)

Net assets

 

1,852,552

1,824,563

Capital and reserves

 

Called up share capital

60

60

Capital redemption reserve

40

40

Profit and loss account

1,852,452

1,824,463

Total equity

 

1,852,552

1,824,563

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within part 15 of Companies Act 2006 and in accordance with FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

 

Crystal House Holdings Limited

Statement of Financial Position as at 31 December 2024

Approved and authorised by the director on 17 June 2025
 

.........................................

M P Gregory

Director

Company registration number: 01551393

 

Crystal House Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of property investment and the provision of consultancy services.

2

Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

The company made a profit for the year ended 31 December 2024 and had net assets at that date amounting to £1,852,552.

The company has net current liabilities at 31 December 2024 of £1,261,892. At this date an amount of £3,276,203 was due to the director, who has confirmed that he will not call for repayment until such time as the company has sufficient working capital and will continue to support the company for the foreseeable future.

After making enquiries, the director believes that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the director considers it appropriate to continue to adopt the going concern basis in preparing the accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax.

The company recognises revenue from rental income over the period of the leases or licences and from consultancy services over the period in which the services are supplied.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Crystal House Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. The valuation uses observable market prices, adjusted if necessary for any difference in the nature, location, or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments are measured at cost less impairment.

Impairment policy

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, as estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Crystal House Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

 

Crystal House Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

3,500

3,500

At 31 December 2024

3,500

3,500

Depreciation

At 1 January 2024

-

-

Charge for the year

875

875

At 31 December 2024

875

875

Carrying amount

At 31 December 2024

2,625

2,625

At 31 December 2023

3,500

3,500

5

Investment properties

Fair value

2024
£

At 1 January 2024

2,838,184

Fair value adjustments

45,736

At 31 December 2024

2,883,920

The investment properties are reflected at fair value at 31 December 2024 as estimated by the director at an amount of £2,883,920.

 

Crystal House Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Investments

2024
£

2023
£

Investments in joint ventures

50

50

Joint ventures

£

Cost

At 1 January 2024 and 31 December 2023

50

Carrying amount

At 31 December 2024

50

At 31 December 2023

50

7

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2024

493,311

493,311

Impairment provision

(115,849)

(115,849)

Additions

15,949

15,949

At 31 December 2024

393,411

393,411

Carrying amount

At 31 December 2024

393,411

393,411

At 31 December 2023

493,311

493,311

8

Debtors

2024
£

2023
£

Other debtors

2,108,284

1,365,889

2,108,284

1,365,889

 

Crystal House Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

12,914

8,279

Taxation and social security

24,248

34,711

Other creditors

3,339,587

2,686,878

3,376,749

2,729,868

10

Reserves

Profit and loss account - this reserve records retained earnings and accumulated losses. At 31 December 2024 this reserve includes an amount of £748,864 (2023: £714,562) which is non-distributable.