Registered number
03093820
Crystal Clear International Ltd
Filleted Accounts
31 August 2023
Crystal Clear International Ltd
Registered number: 03093820
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 2,085 2,779
Tangible assets 4 158,122 138,683
160,207 141,462
Current assets
Stocks 699,784 943,674
Debtors 5 915,221 810,461
Cash at bank and in hand 548,444 974,799
2,163,449 2,728,934
Creditors: amounts falling due within one year 6 (714,938) (1,039,415)
Net current assets 1,448,511 1,689,519
Total assets less current liabilities 1,608,718 1,830,981
Creditors: amounts falling due after more than one year 7 (330,627) (338,979)
Provisions for liabilities (14,880) (9,628)
Net assets 1,263,212 1,482,374
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,263,112 1,482,274
Shareholders' funds 1,263,212 1,482,374
The director is 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 director acknowledges her 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.
S Hilditch
Director
Approved by the board on 29 May 2024
Crystal Clear International Ltd
Notes to the Accounts
for the year ended 31 August 2023
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Property refurbishment over 5 years
Computer Equipment over 3 years
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 21 22
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2022 99,520
At 31 August 2023 99,520
Amortisation
At 1 September 2022 96,741
Provided during the year 694
At 31 August 2023 97,435
Net book value
At 31 August 2023 2,085
At 31 August 2022 2,779
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 14,002 457,992 97,443 569,437
Additions - 31,761 21,300 53,061
Disposals - - (11,495) (11,495)
At 31 August 2023 14,002 489,753 107,248 611,003
Depreciation
At 1 September 2022 14,002 388,550 28,202 430,755
Charge for the year - 13,353 20,269 33,622
On disposals - - (11,495) (11,495)
At 31 August 2023 14,002 401,903 36,976 452,881
Net book value
At 31 August 2023 - 87,850 70,272 158,122
At 31 August 2022 - 69,442 69,241 138,683
5 Debtors 2023 2022
£ £
Trade debtors 72,271 70,126
Other debtors 842,950 740,335
915,221 810,461
Amounts due after more than one year included above 108,226 80,129
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 294,341 487,272
Obligations under finance lease and hire purchase contracts 12,307 12,307
Trade creditors 176,103 275,367
Taxation and social security costs 202,686 230,962
Other creditors 29,501 33,507
714,938 1,039,415
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 269,188 288,586
Obligations under finance lease and hire purchase contracts 61,439 50,393
330,627 338,979
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 308,743 477,607
The Bank loan is secured by an existing fixed and floating debenture charged over the undertaking and all property and assets
9 Loans to directors/shareholder
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
P Ball
Loan 487,976 170,000 (98,000) 559,976
S Hilditch
Loan 56,515 158,172 (56,515) 158,172
544,491 328,172 (154,515) 718,148
Loans are interest free and repayable on demand
10 Other information
Crystal Clear International Ltd is a private company limited by shares and incorporated in England. Its registered office is:34 Rodney Street Liverpool Merseyside L1 9AA
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