Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity5855false 07571790 2023-01-01 2023-12-31 07571790 2022-01-01 2022-12-31 07571790 2023-12-31 07571790 2022-12-31 07571790 2022-01-01 07571790 1 2023-01-01 2023-12-31 07571790 d:Director4 2023-01-01 2023-12-31 07571790 d:Director5 2023-01-01 2023-12-31 07571790 c:ComputerEquipment 2023-01-01 2023-12-31 07571790 c:ComputerEquipment 2023-12-31 07571790 c:ComputerEquipment 2022-12-31 07571790 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07571790 c:ComputerEquipment c:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 07571790 c:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 07571790 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 07571790 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 07571790 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 07571790 c:Goodwill 2023-01-01 2023-12-31 07571790 c:Goodwill 2023-12-31 07571790 c:Goodwill 2022-12-31 07571790 c:ComputerSoftware 2023-01-01 2023-12-31 07571790 c:ComputerSoftware 2023-12-31 07571790 c:ComputerSoftware 2022-12-31 07571790 c:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 07571790 c:CurrentFinancialInstruments 2023-12-31 07571790 c:CurrentFinancialInstruments 2022-12-31 07571790 c:Non-currentFinancialInstruments 2023-12-31 07571790 c:Non-currentFinancialInstruments 2022-12-31 07571790 c:Non-currentFinancialInstruments 1 2023-12-31 07571790 c:Non-currentFinancialInstruments 1 2022-12-31 07571790 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 07571790 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 07571790 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 07571790 c:Non-currentFinancialInstruments c:AfterOneYear 2022-12-31 07571790 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-12-31 07571790 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-12-31 07571790 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-12-31 07571790 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-12-31 07571790 c:ShareCapital 2023-12-31 07571790 c:ShareCapital 2022-12-31 07571790 c:ShareCapital 2022-01-01 07571790 c:RevaluationReserve 2023-01-01 2023-12-31 07571790 c:RevaluationReserve 2023-12-31 07571790 c:RevaluationReserve 2022-01-01 2022-12-31 07571790 c:RevaluationReserve 2022-12-31 07571790 c:RevaluationReserve 2022-01-01 07571790 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 07571790 c:RetainedEarningsAccumulatedLosses 2023-12-31 07571790 c:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 07571790 c:RetainedEarningsAccumulatedLosses 2022-12-31 07571790 c:RetainedEarningsAccumulatedLosses 2022-01-01 07571790 d:OrdinaryShareClass1 2023-01-01 2023-12-31 07571790 d:OrdinaryShareClass1 2023-12-31 07571790 d:OrdinaryShareClass1 2022-12-31 07571790 d:PreferenceShareClass1 2023-01-01 2023-12-31 07571790 d:PreferenceShareClass1 2023-12-31 07571790 d:PreferenceShareClass1 2022-12-31 07571790 d:FRS102 2023-01-01 2023-12-31 07571790 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07571790 d:FullAccounts 2023-01-01 2023-12-31 07571790 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07571790 c:Subsidiary1 2023-01-01 2023-12-31 07571790 c:Subsidiary1 1 2023-01-01 2023-12-31 07571790 c:Subsidiary2 2023-01-01 2023-12-31 07571790 c:Subsidiary2 1 2023-01-01 2023-12-31 07571790 c:Subsidiary4 2023-01-01 2023-12-31 07571790 c:Subsidiary4 1 2023-01-01 2023-12-31 07571790 c:HirePurchaseContracts c:WithinOneYear 2023-12-31 07571790 c:HirePurchaseContracts c:WithinOneYear 2022-12-31 07571790 c:HirePurchaseContracts c:BetweenOneFiveYears 2023-12-31 07571790 c:HirePurchaseContracts c:BetweenOneFiveYears 2022-12-31 07571790 c:DevelopmentCostsCapitalisedDevelopmentExpenditure c:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 07571790 c:Goodwill c:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 07571790 c:ComputerSoftware c:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 07571790 2 2023-01-01 2023-12-31 07571790 6 2023-01-01 2023-12-31 07571790 c:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 07571790 c:OtherPropertyPlantEquipment c:LeasedAssetsHeldAsLessee 2023-12-31 07571790 c:OtherPropertyPlantEquipment c:LeasedAssetsHeldAsLessee 2022-12-31 07571790 c:LeasedAssetsHeldAsLessee 2023-12-31 07571790 c:LeasedAssetsHeldAsLessee 2022-12-31 07571790 c:Goodwill c:OwnedIntangibleAssets 2023-01-01 2023-12-31 07571790 c:DevelopmentCostsCapitalisedDevelopmentExpenditure c:OwnedIntangibleAssets 2023-01-01 2023-12-31 07571790 c:ComputerSoftware c:OwnedIntangibleAssets 2023-01-01 2023-12-31 07571790 2 2023-12-31 07571790 2 2022-12-31 07571790 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07571790










KRYSTAL HOSTING LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
KRYSTAL HOSTING LTD
REGISTERED NUMBER: 07571790

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,520,736
3,254,157

Tangible assets
 5 
1,590,966
903,524

Investments
 6 
1,241
1,337

  
4,112,943
4,159,018

Current assets
  

Debtors: amounts falling due after more than one year
 7 
114,112
-

Debtors: amounts falling due within one year
 7 
130,554
193,446

Cash at bank and in hand
  
206,574
243,008

  
451,240
436,454

Creditors: amounts falling due within one year
 8 
(3,332,600)
(2,732,575)

Net current liabilities
  
 
 
(2,881,360)
 
 
(2,296,121)

Total assets less current liabilities
  
1,231,583
1,862,897

Creditors: amounts falling due after more than one year
 9 
(1,083,735)
(1,500,367)

  

Net assets
  
147,848
362,530

Page 1

 
KRYSTAL HOSTING LTD
REGISTERED NUMBER: 07571790
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
 12 
100
100

Revaluation reserve
  
334,365
673,720

Profit and loss account
  
(186,617)
(311,290)

  
147,848
362,530


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
D M Kimberley
................................................
A D Easter
Director
Director


Date: 23 September 2024

The notes on pages 4 to 15 form part of these financial statements.

Page 2

 
KRYSTAL HOSTING LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
100
628,878
(436,925)
192,053



Loss for the year
-
-
125,635
125,635

Surplus on revaluation of intangible assets
-
44,842
-
44,842



At 1 January 2023
100
673,720
(311,290)
362,530



Profit for the year
-
-
124,673
124,673

Surplus on revaluation of intangible assets
-
(339,355)
-
(339,355)


At 31 December 2023
100
334,365
(186,617)
147,848


The notes on pages 4 to 15 form part of these financial statements.

Page 3

 
KRYSTAL HOSTING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Krystal Hosting Ltd is a private company limited by shares and incorporated in England and Wales, registration number 07571790. The registered office is 124 City Road, London, EC1V 2NX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The following principal accounting policies have been applied:

 
2.2

Going concern

We believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs.  We have considered a period of twelve months from the date of approval of the financial statements.  We believe that no further disclosures relating to the company's ability to continue as a going concern need to me made in the financial statements.

 
2.3

Foreign currency translation

Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 4

 
KRYSTAL HOSTING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.7

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 5

 
KRYSTAL HOSTING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 6

 
KRYSTAL HOSTING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.
IP addresses
IP addresses are held at fair value under the revaluation model. The directors assess each year the assets' fair values based on observable market prices and any revaluation gain/loss is charged as other comprehensive income in the Statement of comprehensive income, and allocated to the revaluation reserve.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

IP addresses
-
not amortised; held at fair value
Goodwill
-
8-10 years
Digital Assets
-
5-8 years

 
2.14

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
over 3-6 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 7

 
KRYSTAL HOSTING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.15

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.16

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.17

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.18

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.19

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 8

 
KRYSTAL HOSTING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.20

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.21

Dividends

Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.


3.


Employees

The average monthly number of employees, including directors, during the year was 58 (2022 - 55).


4.


Intangible assets




IP addresses
Digital assets
Goodwill
Total

£
£
£
£



Cost


At 1 January 2023
783,703
158,053
4,410,723
5,352,479


Additions
-
29,012
-
29,012


Disposals
-
(2,956)
-
(2,956)


Revaluation surplus
(339,355)
-
-
(339,355)



At 31 December 2023

444,348
184,109
4,410,723
5,039,180



Amortisation


At 1 January 2023
-
146,198
1,952,124
2,098,322


Charge for the year on owned assets
-
13,419
409,265
422,684


On disposals
-
(2,562)
-
(2,562)



At 31 December 2023

-
157,055
2,361,389
2,518,444



Net book value



At 31 December 2023
444,348
27,054
2,049,334
2,520,736



At 31 December 2022
783,703
11,855
2,458,599
3,254,157

Page 9

 
KRYSTAL HOSTING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
           4.Intangible assets (continued)

The IP addresses were valued by the directors on 31 December 2023 on an open market basis.




5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2023
3,928,037


Additions
1,189,655


Disposals
(929,389)



At 31 December 2023

4,188,303



Depreciation


At 1 January 2023
3,024,513


Charge for the year on owned assets
272,972


Charge for the year on financed assets
219,621


Disposals
(919,769)



At 31 December 2023

2,597,337



Net book value



At 31 December 2023
1,590,966



At 31 December 2022
903,524

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Computer Equipment
237,208
463,569

237,208
463,569

Page 10

 
KRYSTAL HOSTING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 January 2023
4,561,051
200,000
4,761,051


Foreign exchange movement
4
-
4


Amounts written off
(100)
-
(100)



At 31 December 2023

4,560,955
200,000
4,760,955



Impairment


At 1 January 2023
4,559,717
199,997
4,759,714



At 31 December 2023

4,559,717
199,997
4,759,714



Net book value



At 31 December 2023
1,238
3
1,241



At 31 December 2022
1,334
3
1,337


Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Dial 9 Communications Limited
124 City Road, London, England, EC1V 2NX
Ordinary
100%
EveryCity Limited
Kemp House, 152-160 City Road, London, England, EC1V 2NX
Ordinary
100%
Krystal Solutions Inc
USA
Ordinary
100%

Page 11

 
KRYSTAL HOSTING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£

Due after more than one year

Amounts owed by group undertakings
114,112
-

114,112
-


2023
2022
£
£

Due within one year

Trade debtors
-
29,429

Amounts owed by group undertakings
-
13,241

Other debtors
1,394
26,594

Prepayments and accrued income
129,160
124,182

130,554
193,446



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
128,944
262,187

Trade creditors
1,018,006
246,804

Amounts owed to group undertakings
1,124
51,768

Other taxation and social security
376,727
326,256

Obligations under finance lease and hire purchase contracts
145,894
348,569

Other creditors
314,676
301,490

Accruals and deferred income
1,347,229
1,195,501

3,332,600
2,732,575


Bank loans are secured by way of fixed and floating charges over the undertaking and all property and
assets present and future.
Assets acquired on hire purchase are secured on the assets to which they relate.
The finance lease liability is secured on the relevant assets. Interest is calculated using the effective
interest method, at rates between 4 - 10.4%.

Page 12

 
KRYSTAL HOSTING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
94,208
223,152

Net obligations under finance leases and hire purchase contracts
25,794
131,215

Other creditors
294,000
546,000

Accruals and deferred income
69,733
-

Share capital treated as debt
600,000
600,000

1,083,735
1,500,367


Bank loans are secured by way of fixed and floating charges over the undertaking and all property and
assets present and future.
Assets acquired on hire purchase are secured on the assets to which they relate.
The finance lease liability is secured on the relevant assets. Interest is calculated using the effective
interest method, at rates between 4 - 10.4%.


10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
128,944
262,187


128,944
262,187

Amounts falling due 1-2 years

Bank loans
59,500
128,944


59,500
128,944

Amounts falling due 2-5 years

Bank loans
34,708
94,208


34,708
94,208


223,152
485,339


Page 13

 
KRYSTAL HOSTING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
145,894
348,569

Between 1-5 years
25,794
131,215

171,688
479,784

Assets acquired on hire purchase are secured on the assets to which they relate.
The finance lease liability is secured on the relevant assets. Interest is calculated using the effective
interest method, at rates between 4 - 10.4%.


12.


Share capital

2023
2022
£
£
Shares classified as equity

Authorised, allotted, called up and fully paid



1,000,000 (2022 - 1,000,000) Ordinary shares of £0.0001 each
100
100

2023
2022
£
£
Shares classified as debt

Authorised, allotted, called up and fully paid



600,000 (2022 - 600,000) Redeemable preference B shares of £1.0000 each
600,000
600,000



13.


Pension commitments

The Group and Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group and Company in an independently administered fund. The pension cost charge represents contributions payable by the Group and Company to the fund and amounted to £150,347 (2022: £126,141). Contributions totalling £26,373 (2022: £18,557) were payable to the fund at the reporting date and are included in creditors.

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KRYSTAL HOSTING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

14.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases:




2023
2022
£
£

Lessee

Not later than 1 year
22,616
111,808

Later than 1 year and not later than 5 years
31,375
-

53,991
111,808

At 31 December 2022 the Company had future minimum lease payments receivable under non-cancellable operating leases:



2022
£

Lessor

Not later than 1 year
92,082

92,082

There were no future minimum lease payments receivable under non-cancellable operating leases at 31 December 2023. 


15.


Transactions with directors

As at 31 December 2023, the Directors made advances to the Company totalling £42,130. No interest is charged on these balances. The balance at the year end was £277 owed by the Directors. The Directors have repaid the balances in full post year end.


16.


Related party transactions

The Company has taken advantage of the exemption under FRS 102 not to disclose transactions with wholly owned subsidiaries.


17.


Post balance sheet events

On 22nd March 2024, the Company sold one of their income streams for £1,000,000. This represents cash received of £900,000 with a further £100,000 deferred for a period of ten months. The sale will have an estimated impact in reducing turnover by £45,000 per month following the sale. 

 
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