| REGISTERED NUMBER: |
| Claytex Services Limited |
| Financial Statements for the Year Ended 31st December 2024 |
| REGISTERED NUMBER: |
| Claytex Services Limited |
| Financial Statements for the Year Ended 31st December 2024 |
| Claytex Services Limited (Registered number: 03539836) |
| Contents of the Financial Statements |
| for the Year Ended 31st December 2024 |
| Page |
| Company information | 1 |
| Balance sheet | 2 |
| Notes to the financial statements | 3 |
| Claytex Services Limited |
| Company Information |
| for the Year Ended 31st December 2024 |
| Directors: |
| Registered office: |
| Registered number: |
| Auditors: |
| Statutory Auditors |
| Northampton |
| United Kingdom |
| Claytex Services Limited (Registered number: 03539836) |
| Balance Sheet |
| 31st December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Investments | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current (liabilities)/assets | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Share premium |
| Retained earnings |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Claytex Services Limited (Registered number: 03539836) |
| Notes to the Financial Statements |
| for the Year Ended 31st December 2024 |
| 1. | Statutory information |
| Claytex Services Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 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. |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Going Concern |
| The financial statements are prepared on a going concern basis. The directors have considered relevant information, including the post year end performance and the impact of subsequent events in making their assessment. Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual accounts. |
| Addnode Group AB, the ultimate parent company, has also indicated a willingness to provide financial support in the future. |
| Revenue |
| 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. |
| Claytex Services Limited (Registered number: 03539836) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st December 2024 |
| 2. | Accounting policies - continued |
| Tangible fixed assets |
| Plant and machinery | - |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| 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. |
| 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 method, less any impairment, |
| Foreign currencies |
| Foreign currency translations are translated in 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 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. |
| Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss except when deferred in other comprehensive income as qualifying cash flow hedges. |
| Claytex Services Limited (Registered number: 03539836) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st December 2024 |
| 2. | Accounting policies - continued |
| 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 are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between the contributions payable and the contributions actually paid in the year are shown as either accruals or prepayments at the year end. |
| 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. |
| 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 effetive interest method. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Tangible fixed assets |
| Plant and |
| machinery |
| £ |
| Cost |
| At 1st January 2024 |
| Additions |
| Disposals | ( |
) |
| At 31st December 2024 |
| Depreciation |
| At 1st January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31st December 2024 |
| Net book value |
| At 31st December 2024 |
| At 31st December 2023 |
| Claytex Services Limited (Registered number: 03539836) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st December 2024 |
| 5. | Fixed asset investments |
| Shares in |
| group |
| undertakin |
| £ |
| Cost |
| At 1st January 2024 |
| and 31st December 2024 |
| Net book value |
| At 31st December 2024 |
| At 31st December 2023 |
| 6. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| 9. | Leasing agreements |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| Claytex Services Limited (Registered number: 03539836) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st December 2024 |
| 10. | Disclosure under Section 444(5B) of the Companies Act 2006 |
| The Report of the auditors was unqualified. |
| for and on behalf of |
| MHA is the trading name of MHA Audit Services LLP, a limited liability |
| partnership in England and Wales (registered number OC455542) |
| 11. | Pension commitments |
| The Company operates a defined contribution pension scheme. Contributions payable to the Company's pension scheme during the year were £60,986 (2023: £44,046). The amounts outstanding at the balance sheet date were £7,247 (2023: £5,320). |
| 12. | Related party disclosures |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| 13. | Subsequent events |
| Being part of the Addnode Group a decision has been made to merge our American subsidiary Claytex Inc with our sister company TECHNIA Inc in order to realise a number of efficiencies, synergies and opportunities. Claytex Inc has a strong heritage in Systems Engineering Consultancy particularly in motorsport. In contrast TECHNIA Inc has the right to sell Dassault Systems Modelica products Dymola as well as Claytex's own VeSyMa libraries and has seen some significant wins in 2024. Combining these two organisational capabilities allows a more streamlined customer experience and operations. The combined operational savings and ability to leverage other business capabilities under one business will improve profitability going forward. |
| 14. | Ultimate controlling party |
| The ultimate parent undertaking is Addnode Group AB, Hudiksvallsagatan 4B, SE113 30 Stockholm, Sweden, which is the parent undertaking of the smallest and largest group to consolidate these financial statements. Consolidated accounts can be obtained from the Addnode Group AB registered address. |
| The directors consider that there is no controlling party. |