REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
CRYSTALCARE FACILITIES SERVICES LIMITED |
PREVIOUSLY KNOWN AS |
CRYSTAL SERVICES PLC |
REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
CRYSTALCARE FACILITIES SERVICES LIMITED |
PREVIOUSLY KNOWN AS |
CRYSTAL SERVICES PLC |
CRYSTALCARE FACILITIES SERVICES LIMITED (REGISTERED NUMBER: 01812016) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 6 |
Income Statement | 9 |
Balance Sheet | 10 |
Statement of Changes in Equity | 11 |
Cash Flow Statement | 12 |
Notes to the Financial Statements | 13 |
CRYSTALCARE FACILITIES SERVICES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditors |
34-40 High Street |
Wanstead |
London |
E11 2RJ |
CRYSTALCARE FACILITIES SERVICES LIMITED (REGISTERED NUMBER: 01812016) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
The directors present their strategic report for the year ended 30 September 2024. |
REVIEW OF BUSINESS |
The Directors are pleased to report another successful trading period, with turnover and operating profits showing an increase on the previous year. |
We have maintained financial strength and stability, by managing costs and working hard to service our clients in a proactive and flexible way. We have seen many clients come back for our service who have continued to require their full contract services for cleaning. We have seen an increase in turnover this accounting year and going forward we hope we can continue this line of trend. |
We have continued to sign new business, targeting those business types that have broadly continued to trade and require services. We feel we have worked hard to adapt our marketing approach and believe this will stand us in good stead in the future. |
30 September 2024 | 30 September 2023 |
£ | £ |
Turnover | 11,927,646 | 10,423,668 |
Gross profit | 3,180,851 | 2,822,988 |
Gross profit % | 26.67% | 27.08% |
Operating profit | 775,196 | 670,891 |
The net assets of the company were £1,356,137 (2023: £1,185,410) at the balance sheet date, reflecting the solid position of the company from a solvency and liquidity point of view. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The Board continuously monitors the key risks and uncertainties that may impact the business and the ability to deliver the corporate strategy and these are identified below: |
Economic downturn |
In response to this continuous risk, senior management aim to keep abreast of economic conditions. In cases of severe economic downturn, marketing and pricing strategies will be modified to reflect the new market conditions. |
Wage cost inflation |
The Company is affected by wage cost inflation and pressures within the labour market. The Company monitors the market to ensure compliance with labour market regulations, and maintains employment policies, remuneration and benefits packages that are designed to be competitive with other companies. |
Competition |
The market in which the Company operates is highly competitive. Policies of assessing our pricing strategy and ongoing market research are in place to mitigate such risks. |
Liquidity risk |
As the result of positive cash flows from operating activities and the current asset position, the Directors do not consider liquidity or cashflow risk to be an issue, however these areas are closely monitored to ensure the Company's procedures continue to operate effectively to minimise risks. |
ON BEHALF OF THE BOARD: |
24 February 2025 |
CRYSTALCARE FACILITIES SERVICES LIMITED (REGISTERED NUMBER: 01812016) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
The directors present their report with the financial statements of the company for the year ended 30 September 2024. |
CHANGE OF NAME |
The company passed a special resolution on 9 August 2024 changing its name from Crystal Services PLC to Crystalcare Facilities Services Limited. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of general cleaning contractors. |
DIVIDENDS |
Interim dividends of £420,000 (2023: £400,000) were paid during the year. The Directors do not recommend payment of a final dividend. |
FUTURE DEVELOPMENTS |
The Directors are confident that continued focus on the core cleaning services business and key management policies will strengthen the financial performance and position of the Company during the ensuing years. |
DIRECTORS |
The directors who held office during the year and up to the date of signature of the financial statements were as follows: |
T A Jerman |
S.H.L Cheung |
G. Saadie |
CRYSTALCARE FACILITIES SERVICES LIMITED (REGISTERED NUMBER: 01812016) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
ENGAGEMENT WITH EMPLOYEES |
Disabled persons |
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees. |
Employee involvement |
The company's policy is to consult and discuss with employees, matters likely to affect employees' interests. Information on matters of concern to employees is given through 'information bulletins' and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance. The company is committed to transparency, employee engagement and social responsibility. We provide our employees with clear contractual terms and conditions and provide enhanced pay breakdowns. This has ensured our team is well informed about their compensation, contributing to a transparent and trustworthy work environment. We also recognise our staff through our Shining Star spot award scheme. |
We regularly consult with our employees through monthly staff site feedback surveys This feedback has help us to make informed decisions that impact their interests positively, demonstrating our commitment to incorporating their views in our strategic planning. |
We are proud to be Living Wage Foundation Recognised Service Providers, encouraging all our clients to adopt the Real Living Wage. We follow an equal opportunities policy to ensure all employees are treated equally in terms of their employment, training, career development and promotion. |
FINANCIAL CONTROLS |
IT systems have different password protection systems that are changed periodically with different access levels according to the position of the staff member accessing the data. |
The company have lines of financial reporting, responsibilities, and limits for the authorization, approval, and verification of disbursements are all documented in writing. |
Financial control activities are documented, and at a minimum, cover controls around cash disbursement, accounts receivable, accounts payable, and inventory management |
SOCIAL AND ENVIRONMENTAL PERFORMANCE |
We publish an annual social and environmental impact report on our website. |
ENVIRONMENTAL PRACTICES INCLUDING CARBON OUTPUT |
Crystalcare Facilities Services Ltd is committed to minimising its environmental impact and ensuring sustainable operations. The company maintains an environmental management system aligned with best practices and continuously monitors its performance to reduce emissions. |
As part of this commitment, the Company has been awarded Planet Mark Business Certification for the reporting period 1 October 2023 to 30 September 2024. The Company achieved a 15.6% absolute reduction in Scope 1 and 2 market-based emissions compared to the previous year. |
The Company ensures compliance with the Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018 (SECR). This report aligns with the GHG Protocol Corporate Accounting and Reporting Standard and the UK Government Environmental Reporting Guidelines 2019. |
Measured carbon Footprint |
Source |
2024 (tCO2e) |
2023 (tCO2e) |
Scope 1 (Direct Emissions - Fleet & Fuel Use) | 20.4 | 23.0 |
Scope 2 (Indirect Emissions - Electricity, Market-Based) |
5.0 |
7.1 |
Scope 3 (Other Indirect Emissions - Purchased Goods, Waste, Business Travel, Water, etc.) |
1.3 |
1.2 |
Total Carbon Footprint (Market-Based) | 26.7 | 31.3 |
Emission Intensity Metrics |
- Per Employee (tCO2e): 0.4 |
- Per £1,000,000 Revenue (tCO2e, Market-Based): 2.2 |
- Reduction Target for Next Year: 5% in Scope 1 & 2 Emissions |
CRYSTALCARE FACILITIES SERVICES LIMITED (REGISTERED NUMBER: 01812016) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
Key Highlights |
- Fleet travel accounted for 96.8% of total market-based emissions. |
- Building emissions saw a significant reduction due to a transition to a zero-carbon electricity supplier. |
- Waste emissions decreased and represent only 0.06% of total emissions. |
- Water-related emissions remained stable, contributing 0.2% of total emissions. |
Next Steps |
The Company is working towards further reducing its carbon footprint by: |
- Continuing annual emissions reductions of at least 5% in Scope 1 & 2 to maintain Planet Mark Certification. |
- Expanding Scope 3 data collection to include additional emission sources such as upstream transportation and employee commuting. |
- Enhancing sustainability initiatives across supply chain operations to lower environmental impact. |
Th Company remains committed to environmental responsibility and carbon reduction, ensuring compliance with regulatory requirements while driving progress towards a net-zero future. |
DISCLOSURE IN THE STRATEGIC REPORT |
The Company has chosen to make disclosures in relation to financial risk management and other matters considered to be of strategic importance which would otherwise be in the Directors report within the Strategic Report. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, THP Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
CRYSTALCARE FACILITIES SERVICES LIMITED |
Opinion |
We have audited the financial statements of Crystalcare Facilities Services Limited (the 'company') for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
CRYSTALCARE FACILITIES SERVICES LIMITED |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Our approach is identifying and assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector in which the company operates; |
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, right to work, environmental and health and safety legislation; |
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud, and |
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
- agreeing financial statement disclosures to underlying supporting documentation; |
- enquiring of management as to actual and potential litigation and claims; and |
- reviewing correspondence with HMRC and any other relevant regulators as required. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
CRYSTALCARE FACILITIES SERVICES LIMITED |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
and Statutory Auditors |
34-40 High Street |
Wanstead |
London |
E11 2RJ |
CRYSTALCARE FACILITIES SERVICES LIMITED (REGISTERED NUMBER: 01812016) |
INCOME STATEMENT |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT | 5 |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit | 6 |
PROFIT FOR THE FINANCIAL YEAR |
CRYSTALCARE FACILITIES SERVICES LIMITED (REGISTERED NUMBER: 01812016) |
BALANCE SHEET |
30 SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
CRYSTALCARE FACILITIES SERVICES LIMITED (REGISTERED NUMBER: 01812016) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 October 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 September 2023 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 September 2024 |
CRYSTALCARE FACILITIES SERVICES LIMITED (REGISTERED NUMBER: 01812016) |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 15 |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Interest received |
Net cash from investing activities |
Cash flows from financing activities |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
Increase/(decrease) in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year |
16 |
1,429,989 |
Cash and cash equivalents at end of year |
16 |
1,475,487 |
1,252,149 |
CRYSTALCARE FACILITIES SERVICES LIMITED (REGISTERED NUMBER: 01812016) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
Crystalcare Facilities Services Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
a) Critical judgements in applying the entity's accounting policies |
There are no specific judgements, apart from those involving estimates as detailed below, that management |
has made in the process of applying the entity's accounting policies that have a significant effect on the |
amounts recognised in the financial statements. |
b) Critical accounting estimates and assumptions |
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates can differ from the related actual results.The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are addressed below. |
(i) Holiday pay provision |
The company makes an estimate of the holiday provision that each employee has leftover, unused at the company year-end. |
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. |
Revenue from contracts for the provision of cleaning services is recognised in the period in which the services are rendered. |
Financial instruments |
The Company has chosen to adopt Sections 11 and 12 of FRS102 in respect of financial instruments. Basic |
financial instruments are initially recognised at transaction value and subsequently carried at this value less any provision for impairment. |
Cash and cash equivalents |
Cash and cash equivalents in the balance sheet represents cash in hand and deposits with financial institutions 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. |
In the statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management. |
Short-term debtors and creditors |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in profit or loss under operating expenses. |
The carrying value of all short-term financial assets and liabilities are measured at amortised cost. |
CRYSTALCARE FACILITIES SERVICES LIMITED (REGISTERED NUMBER: 01812016) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
3. | ACCOUNTING POLICIES - continued |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
4. | EMPLOYEES AND DIRECTORS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2024 | 2023 |
Office and management | 25 | 25 |
Direct labour | 673 | 631 |
2024 | 2023 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
Information regarding the highest paid director for the year ended 30 September 2024 is as follows: |
2024 |
£ |
Emoluments etc |
The Directors are the key management for the purposes of disclosure under FRS102. |
CRYSTALCARE FACILITIES SERVICES LIMITED (REGISTERED NUMBER: 01812016) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
5. | OPERATING PROFIT |
The operating profit is stated after charging: |
2024 | 2023 |
£ | £ |
Other operating leases |
Auditors' remuneration |
Auditors' remuneration for non audit work |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Current tax: |
UK corporation tax |
Under/(over) provision in |
prior year | 2,681 | - |
Tax on profit |
UK corporation tax has been charged at 25% (2023 - 22%). |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
2024 | 2023 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
Effects of: |
Expenses not deductible for tax purposes |
Adjustments to tax charge in respect of previous periods |
Total tax charge | 204,758 | 153,721 |
7. | DIVIDENDS |
2024 | 2023 |
£ | £ |
Ordinary shares of £1 each |
Interim |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by related companies |
Prepayments |
CRYSTALCARE FACILITIES SERVICES LIMITED (REGISTERED NUMBER: 01812016) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to related companies |
Corporation tax |
Social security and other taxes |
VAT | 534,233 | 433,444 |
Other creditors |
Accrued expenses |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
The operating leases relate to the trading premises and motor vehicles. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 55,555 | 55,555 |
12. | RESERVES |
Retained |
earnings |
£ |
At 1 October 2023 |
Profit for the year |
Dividends | ( |
) |
At 30 September 2024 |
13. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £420,000 (2023 - £400,000) were paid to the directors . |
During the year the company was charged rent and management fees of £283,073 (2023: £402,000) by Crystal Properties & Investments Limited, a Company in which a director has a controlling interest. At the balance sheet date there was a net balance due to this Company of £146,419 (2023: £83,183 due from). |
During the year the company charged management and overhead fees of £176,067 (2023: £245,000) to Crystalkil Limited, a Company in which a director had a controlling interest. At the balance sheet date there was a net balance due from this Company of £51,663 (2023: £53,198 due to). |
During the year the Company made pension contributions of £24,000 (2023: £24,000) to the spouse of a Director. |
14. | ULTIMATE CONTROLLING PARTY |
The controlling party is T A Jerman. |
CRYSTALCARE FACILITIES SERVICES LIMITED (REGISTERED NUMBER: 01812016) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
15. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2024 | 2023 |
£ | £ |
Profit before taxation |
Finance income | (20,289 | ) | (21,370 | ) |
775,196 | 670,891 |
Increase in trade and other debtors | ( |
) | ( |
) |
Increase/(decrease) in trade and other creditors | ( |
) |
Cash generated from operations |
16. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 30 September 2024 |
30.9.24 | 1.10.23 |
£ | £ |
Cash and cash equivalents | 1,475,487 | 1,252,149 |
Year ended 30 September 2023 |
30.9.23 | 1.10.22 |
£ | £ |
Cash and cash equivalents | 1,252,149 | 1,429,989 |
17. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.10.23 | Cash flow | At 30.9.24 |
£ | £ | £ |
Net cash |
Cash at bank | 1,252,149 | 223,338 | 1,475,487 |
1,252,149 | 1,475,487 |
Total | 1,252,149 | 223,338 | 1,475,487 |