Crystal Properties & Investments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06487898 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

CRYSTAL PROPERTIES & INVESTMENTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

T A Jerman

S H Cheung

T D Jerman

SECRETARY:

S H Cheung

REGISTERED OFFICE:

Unit 6

Loughton Business Centre

Langston Road

Loughton

Essex

IG10 3SD

REGISTERED NUMBER:

06487898 (England and Wales)

ACCOUNTANTS:

THP Limited

Chartered Accountants

34-40 High Street

Wanstead

London

E11 2RJ

FIXED ASSETS

Tangible assets

4

-

4,169,853

Investment property

5

4,169,853

-

4,169,853

4,169,853

CURRENT ASSETS

Debtors

6

781,878

524,049

Investments

7

2,107,257

1,101,290

Cash at bank

5,105

56,573

2,894,240

1,681,912

CREDITORS

Amounts falling due within one year

8

210,495

159,846

NET CURRENT ASSETS

2,683,745

1,522,066

TOTAL ASSETS LESS CURRENT LIABILITIES

6,853,598

5,691,919

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

6,853,597

5,691,918

6,853,598

5,691,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements were approved by the Board of Directors and authorised for issue on 23 February 2022 and were signed on its behalf by:

T A Jerman - Director

1.	STATUTORY INFORMATION

Crystal Properties & Investments Ltd 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.

Revenue recognition

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

Management fees are recognised in the period in which services are rendered.

Rental Income is recognised on a receivable basis.

Tangible fixed assets

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

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

Current asset investment

The current asset investment is included at cost and the income earned on the investment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

land and

Long

buildings

leasehold

Totals

£

£

£

COST

At 1 October 2020

1,574,612

2,595,241

4,169,853

Reclassification/transfer

(1,574,612

)

(2,595,241

)

(4,169,853

)

At 30 September 2021

-

-

-

NET BOOK VALUE

At 30 September 2021

-

-

-

At 30 September 2020

1,574,612

2,595,241

4,169,853

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Reclassification/transfer

4,169,853

At 30 September 2021

4,169,853

NET BOOK VALUE

At 30 September 2021

4,169,853

The Directors have reclassified the freehold and leasehold properties to investment properties as this better reflect the nature of the assets involved.

The Directors have assessed that the fair value of the investment properties is not materially different from cost at the balance sheet date.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts owed by related companies

781,478

524,049

Other debtors

400

-

781,878

524,049

7.	CURRENT ASSET INVESTMENTS

2021

2020

£

£

Listed investments

2,107,257

1,101,290

Market value of listed investments at 30 September 2021 - £ 2,330,066 (2020 - £ 1,143,764 ).

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Corporation tax

175,139

141,830

Social security and other taxes

3,618

130

VAT

18,000

4,252

Other creditors

-

5,324

Accrued expenses

13,738

8,310

210,495

159,846

9.	RELATED PARTY DISCLOSURES

During the year the company charged rent and management fees of £1,340,000 (2020: £911,600) to Crystal Services PLC a company in which a director has a controlling interest. Also At the balance sheet date there was a balance due from Crystal Services PLC of £781,478 (2020: £524,049).

10.	ULTIMATE CONTROLLING PARTY

The controlling party is T A Jerman.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Crystal Properties & Investments Ltd for the year ended 30 September 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Crystal Properties & Investments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Crystal Properties & Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Crystal Properties & Investments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Crystal Properties & Investments Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Crystal Properties & Investments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Crystal Properties & Investments Ltd. You consider that Crystal Properties & Investments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Crystal Properties & Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

THP Limited

Chartered Accountants

34-40 High Street

Wanstead

London

E11 2RJ

23 February 2022