REGISTERED NUMBER: 12669016 (England and Wales)

CRYSTAL PALACE ESTATES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

8

DIRECTOR:

S P J Doyle

REGISTERED OFFICE:

45-47 Westow Hill

Crystal Palace

London

SE19 1TS

REGISTERED NUMBER:

12669016 (England and Wales)

AUDITORS:

Crowe U.K. LLP

55 Ludgate Hill

London

EC4M 7JW

FIXED ASSETS

Intangible assets

4

92,792

102,560

Property, plant and equipment

5

234,955

276,382

327,747

378,942

CURRENT ASSETS

Debtors

6

39,297

94,988

Cash at bank

24,860

123,264

64,157

218,252

CREDITORS

Amounts falling due within one year

7

104,349

590,573

NET CURRENT LIABILITIES

(40,192

)

(372,321

)

TOTAL ASSETS LESS CURRENT LIABILITIES

287,555

6,621

CREDITORS

Amounts falling due after more than one year

8

(579,738

)

(255,392

)

PROVISIONS FOR LIABILITIES

(18,559

)

(22,123

)

NET LIABILITIES

(310,742

)

(270,894

)

CAPITAL AND RESERVES

Called up share capital

10

120

120

Retained earnings

(310,862

)

(271,014

)

SHAREHOLDERS' FUNDS

(310,742

)

(270,894

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2026 and were signed by:

S P J Doyle - Director

1.	STATUTORY INFORMATION

Crystal Palace Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

In the current year, the company has transitioned from FRS 101 "Reduced Disclosure Framework" to FRS 102. The date of transition was 1 January 2025, and these are the first financial statements prepared under FRS 102.

This is the first period in which the financial statements have been prepared under FRS 102, following a transition from FRS 101 "Reduced Disclosure Framework" due to the company's disposal from its former group on 16 December 2025. Because the company has early adopted the Periodic Review 2024 updates, its accounting policies for leases and revenue recognition remain aligned with the principles previously applied under FRS 101. Consequently, the change in reporting framework has resulted in no material recognition or measurement adjustments to equity at the transition date (1 January 2024) or the comparative year-end (31 December 2024), nor to the profit or loss reported for the comparative period.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised upon despatch of goods or on provision of services.

Revenue in respect of commissions due on house sales is recognised on completion. Revenue in respect of commissions due on lettings and property management is recognised over the life of the rental agreement.

Intangible assets

Intangible assets represent amounts paid for a customer list.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Customer lists - over 15 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Right of use asset

-

Straight line over the term of the lease

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Property, plant and equipment is recognised at cost less depreciation less impairment losses.

At each reporting date fixed property, plant and equipment is reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared within its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in the income statement.

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

(i) Amortisation of other intangible assets

In 2020, the company acquired other intangible assets for £146,514 and have used their professional judgement to assign the assets with a 15 year useful life, based on their knowledge of the market and future plans. The carrying value of other intangible assets was £92,792 at the year-end (2024: £102,560).

Going concern

At 31 December 2025, the company had net liabilities of £310,742 (£270,894 as at 31 December 2024) and net current liabilities of £40,192 (£372,321 as at 31 December 2024). However, the director has confirmed that he will continue to support the company for at least 12 months from the date these financial statements are approved.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

and 31 December 2025

146,514

AMORTISATION

At 1 January 2025

43,954

Charge for year

9,768

At 31 December 2025

53,722

NET BOOK VALUE

At 31 December 2025

92,792

At 31 December 2024

102,560

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Right of

machinery

use asset

etc

Totals

£

£

£

COST

At 1 January 2025

367,632

82,756

450,388

Additions

-

1,232

1,232

At 31 December 2025

367,632

83,988

451,620

DEPRECIATION

At 1 January 2025

108,918

65,088

174,006

Charge for year

27,809

14,850

42,659

At 31 December 2025

136,727

79,938

216,665

NET BOOK VALUE

At 31 December 2025

230,905

4,050

234,955

At 31 December 2024

258,714

17,668

276,382

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

14,025

75,536

Other debtors

11,400

11,400

Prepayments and accrued income

13,872

8,052

39,297

94,988

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

19,156

12,407

Amounts owed to group undertakings

-

463,174

Other taxes and social security

4,808

16,161

VAT

6,064

35,514

Other creditors

27,174

26,407

Directors' loan accounts

20,000

-

Accruals and deferred income

27,147

36,910

104,349

590,573

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

579,738

255,392

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

25,654

24,405

Between one and five years

116,435

110,767

In more than five years

113,303

144,625

255,392

279,797

Included within other creditors is the companies lease of 45-47 Westow Hill. The lease ends April 2034.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

120

Ordinary

£1

120

120

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter Gilligan (Senior Statutory Auditor)

for and on behalf of Crowe U.K. LLP

12.	RELATED PARTY DISCLOSURES

As part of the sale agreement, at the sale date, the Group agreed to forward a loan of £350,000 to Crystal Palace Estates Limited. The loan is repayable over 10 years and interest is being charged on the remaining loan balance at 1% above the Bank of England base rate. The loan is included within Creditors falling due after more than one year.

13.	FIRST YEAR ADOPTION

1.1.24

31.12.24

£

£

Equity as reported under FRS 101

(276,642

)

(270,894

)

Issue of share capital

20

-

Equity as restated under FRS 102

(276,622

)

(270,894

)

2024

£

Profit as restated under FRS 101

5,728

Profit as restated under FRS 102

5,728

Transition to FRS 102

This is the first period in which the company has prepared its financial statements under FRS 102 Section 1A, following its transition from FRS 101. The date of transition to FRS 102 is 1 January 2024.The company has early adopted the amendments arising from the FRS 102 Periodic Review 2024. Because these amendments align the company's lease and revenue accounting policies with the principles previously applied under FRS 101, the transition has resulted in no recognition or measurement adjustments to the company's equity at 1 January 2024 or 31 December 2024, nor to its reported profit or loss for the year ended 31 December 2024. Consequently, no reconciliation tables have been presented.