Crystaltech Services (UK) Limited 05249952 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the repair and maintenance of commercial catering equipment Digita Accounts Production Advanced 6.30.9574.0 true true 05249952 2024-01-01 2024-12-31 05249952 2024-12-31 05249952 bus:Consolidated 2024-12-31 05249952 core:CurrentFinancialInstruments 2024-12-31 05249952 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 05249952 core:Goodwill 2024-12-31 05249952 core:BetweenTwoFiveYears 2024-12-31 05249952 core:WithinOneYear 2024-12-31 05249952 core:FurnitureFittingsToolsEquipment 2024-12-31 05249952 bus:SmallEntities 2024-01-01 2024-12-31 05249952 bus:Audited 2024-01-01 2024-12-31 05249952 bus:FilletedAccounts 2024-01-01 2024-12-31 05249952 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05249952 bus:RegisteredOffice 2024-01-01 2024-12-31 05249952 bus:Director2 2024-01-01 2024-12-31 05249952 bus:Director7 2024-01-01 2024-12-31 05249952 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05249952 core:Goodwill 2024-01-01 2024-12-31 05249952 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 05249952 countries:EnglandWales 2024-01-01 2024-12-31 05249952 core:Goodwill 2023-12-31 05249952 core:FurnitureFittingsToolsEquipment 2023-12-31 05249952 2023-01-01 2023-12-31 05249952 2023-12-31 05249952 core:CurrentFinancialInstruments 2023-12-31 05249952 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05249952 core:BetweenTwoFiveYears 2023-12-31 05249952 core:WithinOneYear 2023-12-31 05249952 core:FurnitureFittingsToolsEquipment 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 05249952

Prepared for the registrar

Crystaltech Services (UK) Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2024

 

Crystaltech Services (UK) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 10

 

Crystaltech Services (UK) Limited

Company Information

Directors

L T Creighton

D J Orange

Registered office

14 Redbridge Enterprise Centre
Thompson Close
London
United Kingdom
IG1 1TY

Auditors

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

Crystaltech Services (UK) Limited

(Registration number: 05249952)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

34,521

33,613

Current assets

 

Stocks

6

869,836

838,499

Debtors

7

2,797,195

3,363,747

Cash at bank and in hand

 

720,738

730,463

 

4,387,769

4,932,709

Creditors: Amounts falling due within one year

8

(1,303,596)

(1,815,534)

Net current assets

 

3,084,173

3,117,175

Total assets less current liabilities

 

3,118,694

3,150,788

Deferred tax liabilities

(6,778)

(1,933)

Net assets

 

3,111,916

3,148,855

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

3,110,916

3,147,855

Shareholders' funds

 

3,111,916

3,148,855

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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

Approved and authorised by the Board on 25 June 2025 and signed on its behalf by:
 


L T Creighton
Director

 

Crystaltech Services (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
14 Redbridge Enterprise Centre
Thompson Close
London
United Kingdom
IG1 1TY

 

2

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Name of parent of group

These financial statements are consolidated in the financial statements of Pluno Topco Limited.

The financial statements of Pluno Topco Limited may be obtained from Companies House.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty

 

Crystaltech Services (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Revenue recognition

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

the Company has transferred the significant risks and rewards of ownership to the buyer;

the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

the amount of revenue can be measured reliably;

it is probable that the Company will receive the consideration due under the transaction; and

the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current 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 taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

4-7 years straight line

Goodwill

Goodwill is amortised over its useful life, which shall not exceed five years if a reliable estimate of the useful life cannot be made.

 

Crystaltech Services (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Negative goodwill arising on an acquisition is recognised on the face of the balance sheet on the acquisition date and subsequently the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

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 company 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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Crystaltech Services (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.


Impairment - continued
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

3

Staff numbers

The average number of persons employed by the company during the year, was as follows:

 

Crystaltech Services (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

 

4

Intangible assets

Goodwill
 £

Cost

At 1 January 2024 and at 31 December 2024

110,000

Amortisation

At 1 January 2024 and at 31 December 2024

110,000

Carrying amount

At 1 January 2024 and at 31 December 2024

-

 

5

Tangible assets

Equipment
 £

Cost

At 1 January 2024

225,098

Additions

12,405

At 31 December 2024

237,503

Depreciation

At 1 January 2024

191,485

Charge for the year

11,497

At 31 December 2024

202,982

Carrying amount

At 31 December 2024

34,521

At 31 December 2023

33,613

 

6

Stocks

2024
£

2023
£

Raw materials and consumables

869,836

838,499

 

7

Debtors

2024
£

2023
£

Trade debtors

1,106,002

1,292,875

Amounts due from group undertakings

1,560,414

2,007,420

Prepayments

37,671

24,121

Other debtors

93,108

39,331

2,797,195

3,363,747

 

Crystaltech Services (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

 

8

Creditors

2024
£

2023
£

Due within one year

Trade creditors

85,532

123,494

Amounts due to group undertakings

705,153

1,065,173

Other taxation and social security

244,614

301,600

Accruals and deferred income

252,705

255,013

Other creditors

15,592

13,953

Corporation tax liability

-

56,301

1,303,596

1,815,534

 

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

82,125

206

Later than one year and not later than five years

21,453

-

103,578

206

 

10

Other financial commitments

The company has given a cross guarantee in respect of the bank borrowings of fellow subsidiary undertakings. This guarantee is supported by a fixed and floating charge over the assets and undertakings of the company and a right of set off between the respective companies' debit and credit balances.

 

11

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £66,355 (2023 - £64,797).

Contributions totalling £15,592 (2023 - £13,931) were payable to the scheme at the end of the year and are included in creditors.

 

12

Controlling party

The company's immediate parent is Buttress Holdings Limited, incorporated in England and Wales.

The most senior parent entity producing publicly available financial statements is Pluno Topco Limited. These financial statements are available upon request from Companies House.

 

13

Transition to FRS 102

Balance Sheet at 1 January 2023
 

 

Crystaltech Services (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Crystaltech Services (UK) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Balance Sheet at 31 December 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

14

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 25 June 2025 was James Morter, who signed for and on behalf of Hazlewoods LLP.