London Crystal Palace Ltd - Filleted accounts

Registered number

12747433

London Crystal Palace Ltd

Filleted Accounts

31 December 2024

London Crystal Palace Ltd
Registered number:		12747433
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		41,219,216			39,417,685

Current assets
Debtors	4	7,401,970			6,972,525
Cash at bank and in hand		3,313,672			1,511,038
		10,715,642			8,483,563

Creditors: amounts falling due within one year	5	(2,568,523)			(4,965,892)

Net current assets			8,147,119			3,517,671

Total assets less current liabilities			49,366,335			42,935,356

Creditors: amounts falling due after more than one year	6		(19,147,500)			(16,592,626)



Net assets			30,218,835			26,342,730

Capital and reserves
Called up share capital			329			329
Special reserve			19,011,286			19,011,286
Revaluation reserve	7		1,600,000			-
Profit and loss account			9,607,220			7,331,115

Shareholders' funds			30,218,835			26,342,730

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Gauhar Nawab
Director
Approved by the board on 26 September 2025

London Crystal Palace Ltd
Notes to the Accounts
for the year ended 31 December 2024





1	Accounting policies

	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).

	Turnover
	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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			17		17







3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 January 2024	39,000,000		417,685		39,417,685
	Additions	-		201,531		201,531
	Surplus on revaluation	1,600,000		-		1,600,000
	At 31 December 2024	40,600,000		619,216		41,219,216

	Depreciation
	At 31 December 2024	-		-		-

	Net book value
	At 31 December 2024	40,600,000		619,216		41,219,216
	At 31 December 2023	39,000,000		417,685		39,417,685


4	Debtors			2024		2023
£					£

	Trade debtors			-		1,345
	Amounts owed by group undertakings			7,401,970		6,971,180
				7,401,970		6,972,525


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Trade creditors			466,222		39,045
	Amounts owed to group undertakings			-		2,640,000
	Taxation and social security costs			1,292,271		1,266,847
	Other creditors			810,030		1,020,000
				2,568,523		4,965,892


6	Creditors: amounts falling due after one year			2024		2023
£					£

	Bank loans			19,147,500		16,386,664
	Amounts owed to group undertakings			-		205,962
				19,147,500		16,592,626


7	Revaluation reserve			2024		2023
£					£

	Gain on revaluation of land and buildings			1,600,000		-

	At 31 December 2024			1,600,000		-


8	Other information

	London Crystal Palace Ltd is a private company limited by shares and incorporated in England. Its registered office is:

	Lynton House
	54 Clapham Common South Side
	London
	SW4 9BX