| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| BELFAST CRYSTAL LIMITED |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 17 Clarendon Road |
| Clarendon Dock |
| Belfast |
| BT1 3BG |
| BANKERS: |
| 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 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| 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 |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Plant and machinery | - |
| Fixtures, fittings & equipment | - |
| 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 |
| 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 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 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 |
| Other debtors |
| 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 |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 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 |
| 8. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 October 2023 |
| and 30 September 2024 |
| 9. | ULTIMATE CONTROLLING PARTY |
| The company continues to be controlled by A Abbate by virture of his shareholding. |