Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31112021-01-01falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 2781274 2021-01-01 2021-12-31 2781274 2020-01-01 2020-12-31 2781274 2021-12-31 2781274 2020-12-31 2781274 c:Director1 2021-01-01 2021-12-31 2781274 d:OfficeEquipment 2021-01-01 2021-12-31 2781274 d:OfficeEquipment 2021-12-31 2781274 d:OfficeEquipment 2020-12-31 2781274 d:Goodwill 2021-12-31 2781274 d:Goodwill 2020-12-31 2781274 d:CurrentFinancialInstruments 2021-12-31 2781274 d:CurrentFinancialInstruments 2020-12-31 2781274 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 2781274 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 2781274 d:ShareCapital 2021-12-31 2781274 d:ShareCapital 2020-12-31 2781274 d:RetainedEarningsAccumulatedLosses 2021-12-31 2781274 d:RetainedEarningsAccumulatedLosses 2020-12-31 2781274 c:OrdinaryShareClass1 2021-01-01 2021-12-31 2781274 c:OrdinaryShareClass1 2021-12-31 2781274 c:OrdinaryShareClass1 2020-12-31 2781274 c:FRS102 2021-01-01 2021-12-31 2781274 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 2781274 c:FullAccounts 2021-01-01 2021-12-31 2781274 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 2781274 d:Subsidiary1 2021-01-01 2021-12-31 2781274 d:Subsidiary1 1 2021-01-01 2021-12-31 2781274 2 2021-01-01 2021-12-31 2781274 6 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 2781274









RESANCO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
RESANCO LIMITED
REGISTERED NUMBER: 2781274

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Investments
 6 
213
213

Current assets
  

Debtors: amounts falling due within one year
 7 
97,834
25,742

Cash at bank and in hand
 8 
104,804
182,343

  
202,638
208,085

Creditors: amounts falling due within one year
 9 
(6,140)
(4,264)

Net current assets
  
 
 
196,498
 
 
203,821

Total assets less current liabilities
  
196,711
204,034

  

Net assets
  
196,711
204,034


Capital and reserves
  

Called up share capital 
 11 
2
2

Profit and loss account
  
196,709
204,032

  
196,711
204,034


The director considers 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 director acknowledges his 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 income and retained earnings 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 on 28 June 2022.





Page 1

 
RESANCO LIMITED
REGISTERED NUMBER: 2781274
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2021



R F Ethrington
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
RESANCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Resanco Limited is a private company limited by shares and domiciled in England and Wales. The registered office is at Sweet Briar, Horsham Road, Rusper, Horsham RH12 4PR.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and its subsidiary qualify as small as set out in section 383 of the Companies Act 2006 and the parent and the group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The director has considered the financial resources available along with the future plans for the Company when considering the going concern of the Company. After making enquiries, the director has a reasonable expectation that the Company will have access to adequate resources to continue in operational existence for the foreseeable future given the cash balance and net assets. Accordingly, they continue to adopt the going concern basis in the preparation of the financial statements.

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
RESANCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Interest income

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

 
2.7

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 4

 
RESANCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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:

Office equipment
-
33%
straight line

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.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

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.

 
2.12

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.

 
2.13

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 5

 
RESANCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.14

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.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).


4.


Intangible assets




Goodwill

£



Cost


At 1 January 2021
375,000



At 31 December 2021

375,000



Amortisation


At 1 January 2021
375,000



At 31 December 2021

375,000



Net book value



At 31 December 2021
-



At 31 December 2020
-



Page 6

 
RESANCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2021
6,122



At 31 December 2021

6,122



Depreciation


At 1 January 2021
6,122



At 31 December 2021

6,122



Net book value



At 31 December 2021
-



At 31 December 2020
-


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2021
213



At 31 December 2021
213





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Resendjer SRL
Moldova
Ordinary
100%

Page 7

 
RESANCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
Subsidiary undertaking (continued)

The aggregate of the share capital and reserves as at 31 December 2021 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

Resendjer SRL
566,475
25,995


7.


Debtors

2021
2020
£
£


Amounts owed by group undertakings
95,709
24,840

Other debtors
2,125
902

97,834
25,742



8.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
104,804
182,343



9.


Creditors: Amounts falling due within one year

2021
2020
£
£

Corporation tax
-
2,233

Other creditors
2,814
581

Accruals and deferred income
3,326
1,450

6,140
4,264


Page 8

 
RESANCO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

10.


Deferred taxation


11.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



2 (2020 - 2) Ordinary shares of £1.00 each
2
2


 
Page 9