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REGISTERED NUMBER: 07244186 (England and Wales)














Reside Construction Limited

Unaudited Financial Statements

for the Year Ended 31 May 2023






Reside Construction Limited (Registered number: 07244186)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Reside Construction Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: K M Hayter
S C Burne
A P Sparks





REGISTERED OFFICE: 10 Victoria Road South
Southsea
Hampshire
PO5 2DA





REGISTERED NUMBER: 07244186 (England and Wales)





ACCOUNTANTS: Barter Durgan
Chartered Accountants
10 Victoria Road South
Southsea
Hampshire
PO5 2DA

Reside Construction Limited (Registered number: 07244186)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,942 9,214

CURRENT ASSETS
Debtors 5 248,756 712,171
Cash at bank and in hand 1,460,236 1,257,776
1,708,992 1,969,947
CREDITORS
Amounts falling due within one year 6 762,053 911,283
NET CURRENT ASSETS 946,939 1,058,664
TOTAL ASSETS LESS CURRENT
LIABILITIES

969,881

1,067,878

CAPITAL AND RESERVES
Called up share capital 7 75 100
Share premium (99,975 ) -
Retained earnings 1,069,781 1,067,778
SHAREHOLDERS' FUNDS 969,881 1,067,878

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Reside Construction Limited (Registered number: 07244186)

Balance Sheet - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2023 and were signed on its behalf by:




K M Hayter - Director A P Sparks - Director




S C Burne - Director


Reside Construction Limited (Registered number: 07244186)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Reside Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

Reside Construction Limited (Registered number: 07244186)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2022 31,957 22,614 54,571
Additions 17,395 - 17,395
At 31 May 2023 49,352 22,614 71,966
DEPRECIATION
At 1 June 2022 23,469 21,888 45,357
Charge for year 3,218 449 3,667
At 31 May 2023 26,687 22,337 49,024
NET BOOK VALUE
At 31 May 2023 22,665 277 22,942
At 31 May 2022 8,488 726 9,214

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 248,478 711,893
Prepayments 278 278
248,756 712,171

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 440,232 453,806
Taxation - 20,556
Social security and other taxes 15,569 17,302
VAT 209,323 186,280
Other creditors 13,500 -
Directors' current accounts - 1,560
Accrued expenses 83,429 231,779
762,053 911,283

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 75 100