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REGISTERED NUMBER: NI013156 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

BELFAST CRYSTAL LIMITED

BELFAST CRYSTAL LIMITED (REGISTERED NUMBER: NI013156)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


BELFAST CRYSTAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: A Abbate



SECRETARY: A Abbate



REGISTERED OFFICE: 11 Blackstaff Road
Kennedy Way Industrial Estate
Belfast
BT11 9DT



REGISTERED NUMBER: NI013156 (Northern Ireland)



ACCOUNTANTS: Baker Tilly Mooney Moore
Chartered Certified Accountants
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG



BANKERS: Bank of Ireland
364 Lisburn Road
Belfast
Co. Antrim
BT9 6GL

BELFAST CRYSTAL LIMITED (REGISTERED NUMBER: NI013156)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 174,067 175,240

CURRENT ASSETS
Stocks 32,885 37,626
Debtors 5 9,492 5,602
Cash at bank and in hand 75,084 76,321
117,461 119,549
CREDITORS
Amounts falling due within one year 6 110,755 112,161
NET CURRENT ASSETS 6,706 7,388
TOTAL ASSETS LESS CURRENT
LIABILITIES

180,773

182,628

CREDITORS
Amounts falling due after more than one
year

7

(6,081

)

(12,034

)

PROVISIONS FOR LIABILITIES (31,148 ) (31,236 )
NET ASSETS 143,544 139,358

CAPITAL AND RESERVES
Called up share capital 6,002 6,002
Revaluation reserve 8 97,600 97,600
Retained earnings 39,942 35,756
SHAREHOLDERS' FUNDS 143,544 139,358

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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.

BELFAST CRYSTAL LIMITED (REGISTERED NUMBER: NI013156)

BALANCE SHEET - continued
30 SEPTEMBER 2024



The financial statements were authorised for issue by the director and authorised for issue on 25 June 2025 and were signed by:





A Abbate - Director


BELFAST CRYSTAL LIMITED (REGISTERED NUMBER: NI013156)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Belfast Crystal Limited is a private company, limited by shares , registered in Northern Ireland. 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
In preparing these financial statements the director has made the following judgements:

Establish whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the assets and the business in general.

Considers the recoverability of other debtors and the need for impairment provisions. These considerations are undertaken regularly by the director, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period.

Considers the valuation of stock and the requirement for write down provisions. These considerations are undertaken regularly by the director, and especially at the year end date. Factors taken into account include historical experience, product familiarisation and knowledge of the sector. Stock identified as impaired will be written down in value in the relevant period.

The director also considers the amortisation and depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

BELFAST CRYSTAL LIMITED (REGISTERED NUMBER: NI013156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

- Loans and borrowings
All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

BELFAST CRYSTAL LIMITED (REGISTERED NUMBER: NI013156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures,
Freehold to Plant and fittings
property property machinery & equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 October 2023
and 30 September 2024 150,000 24,672 4,530 7,213 186,415
DEPRECIATION
At 1 October 2023 - 2,632 3,748 4,795 11,175
Charge for year - 494 196 483 1,173
At 30 September 2024 - 3,126 3,944 5,278 12,348
NET BOOK VALUE
At 30 September 2024 150,000 21,546 586 1,935 174,067
At 30 September 2023 150,000 22,040 782 2,418 175,240

Included in cost or valuation of land and buildings is freehold land of £ 150,000 (2023 - £ 150,000 ) which is not depreciated.

On 1 July 2017 there was a fire at the premises which destroyed the existing buildings. The past depreciation was reversed as the asset remaining related to the land only. The directors have confirmed that the land value at 30 September 2024 was £150,000 on an open market valuation.

Cost or valuation at 30 September 2024 is represented by:

Improvements Fixtures,
Freehold to Plant and fittings
property property machinery & equipment Totals
£    £    £    £    £   
Valuation in 2017 150,000 - - - 150,000
Cost - 24,672 4,530 7,213 36,415
150,000 24,672 4,530 7,213 186,415

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 9,411 5,524
Other debtors 81 78
9,492 5,602

BELFAST CRYSTAL LIMITED (REGISTERED NUMBER: NI013156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 5,944 5,782
Trade creditors 3,719 2,516
Taxation and social security 10,015 10,424
Other creditors 91,077 93,439
110,755 112,161

Included in other creditors is an amount of £88,885 (2023: £90,832) in relation to Directors Current Account. This amount is interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 6,081 12,034

8. RESERVES
Revaluation
reserve
£   
At 1 October 2023
and 30 September 2024 97,600

9. ULTIMATE CONTROLLING PARTY

The company continues to be controlled by A Abbate by virture of his shareholding.