Crystal Composite Services LLP OC358144 false 2023-08-01 2024-03-31 2024-03-31 The principal activity of the company is the provision of pod bathrooms and GRP mouldings. Digita Accounts Production Advanced 6.30.9574.0 true OC358144 2023-08-01 2024-03-31 OC358144 2024-03-31 OC358144 core:OtherReservesSubtotal 2024-03-31 OC358144 core:CurrentFinancialInstruments 2024-03-31 OC358144 bus:SmallEntities 2023-08-01 2024-03-31 OC358144 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-03-31 OC358144 bus:FilletedAccounts 2023-08-01 2024-03-31 OC358144 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-03-31 OC358144 bus:RegisteredOffice 2023-08-01 2024-03-31 OC358144 bus:PartnerLLP1 2023-08-01 2024-03-31 OC358144 bus:PartnerLLP2 2023-08-01 2024-03-31 OC358144 bus:LimitedLiabilityPartnershipLLP 2023-08-01 2024-03-31 OC358144 core:MotorVehicles 2023-08-01 2024-03-31 OC358144 core:OfficeEquipment 2023-08-01 2024-03-31 OC358144 core:OtherPropertyPlantEquipment 2023-08-01 2024-03-31 OC358144 core:PlantMachinery 2023-08-01 2024-03-31 OC358144 countries:AllCountries 2023-08-01 2024-03-31 OC358144 2023-07-31 OC358144 2022-08-01 2023-07-31 OC358144 2023-07-31 OC358144 core:OtherReservesSubtotal 2023-07-31 OC358144 core:CurrentFinancialInstruments 2023-07-31 iso4217:GBP xbrli:pure

Registration number: OC358144

Crystal Composite Services LLP

Unaudited Filleted Abridged Financial Statements

for the period from 1 August 2023 to 31 March 2024

 

Crystal Composite Services LLP

Contents

Limited liability partnership information

1

Abridged Financial Statements

2 to 6

Abridged Balance Sheet

2

Notes to the Abridged Financial Statements

4

 

Crystal Composite Services LLP

Limited liability partnership information

Designated members

Mrs C Gill

Mr JE Gill
 

Registered office

Pots of Colour
Pitmore Lane
Sway
Lymington
Hampshire
SO41 8LL

Accountants

Pyatt & Pyatt
Chartered Certified Accountants
36 St Thomas Street
Lymington
Hampshire
SO41 9NE

 

Crystal Composite Services LLP

(Registration number: OC358144)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

2,751

4,099

Current assets

 

Stocks

-

14,649

Debtors

4

11,713

15,236

Cash and short-term deposits

 

63,889

109,448

 

75,602

139,333

Creditors: Amounts falling due within one year

(19,018)

(1,740)

Net current assets

 

56,584

137,593

Total assets less current liabilities

 

59,335

141,692

Accruals and deferred income

 

(600)

(600)

Net assets attributable to members

 

58,735

141,092

Represented by:

 

Members’ other interests

 

Other reserves

 

58,735

141,092

   

58,735

141,092

Total members' interests

 

Equity

 

58,735

141,092

   

58,735

141,092

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

 

Crystal Composite Services LLP

(Registration number: OC358144)
Abridged Balance Sheet as at 31 March 2024

The financial statements of Crystal Composite Services LLP (registered number OC358144) were approved by the Board and authorised for issue on 29 January 2025. They were signed on behalf of the limited liability partnership by:

.........................................
Mrs C Gill
Designated member

.........................................
Mr JE Gill
Designated member

 
 

Crystal Composite Services LLP

Notes to the Abridged Financial Statements for the Period from 1 August 2023 to 31 March 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England & Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Crystal Composite Services LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost.

 

Crystal Composite Services LLP

Notes to the Abridged Financial Statements for the Period from 1 August 2023 to 31 March 2024

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Office equipment

25% reducing balance

Motor vehicles

25% reducing balance

Moulds

25% reducing balance

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

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 the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

 

Crystal Composite Services LLP

Notes to the Abridged Financial Statements for the Period from 1 August 2023 to 31 March 2024

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 2 (2023 - 2).

3

Tangible fixed assets

Total
£

Cost

At 1 August 2023

68,212

At 31 March 2024

68,212

Depreciation

At 1 August 2023

64,113

Charge for the year

1,348

At 31 March 2024

65,461

Net book value

At 31 March 2024

2,751

At 31 July 2023

4,099

4

Stocks

2024
£

2023
£

Stocks

-

3,199

Work in progress

-

11,450

-

14,649

5

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.