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REGISTERED NUMBER: 08954437 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

RESIDENT PROPERTY SOFTWARE LIMITED

RESIDENT PROPERTY SOFTWARE LIMITED (REGISTERED NUMBER: 08954437)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RESIDENT PROPERTY SOFTWARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Miss K L Boyes





REGISTERED OFFICE: 48 Mount Ephraim
Tunbridge Wells
Kent
TN4 8AU





REGISTERED NUMBER: 08954437 (England and Wales)





ACCOUNTANTS: Synergee Limited
Pluto House
6 Vale Avenue
Tunbridge Wells
Kent
TN1 1DJ

RESIDENT PROPERTY SOFTWARE LIMITED (REGISTERED NUMBER: 08954437)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 73,724 95,969
Tangible assets 5 2,231 861
75,955 96,830

CURRENT ASSETS
Debtors 6 672,623 539,254
Cash at bank - 11,750
672,623 551,004
CREDITORS
Amounts falling due within one year 7 (697,508 ) (560,206 )
NET CURRENT LIABILITIES (24,885 ) (9,202 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,070

87,628

CREDITORS
Amounts falling due after more than one
year

8

-

(23,500

)
NET ASSETS 51,070 64,128

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 9 50,070 63,128
SHAREHOLDERS' FUNDS 51,070 64,128

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

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

The director acknowledges her 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.

RESIDENT PROPERTY SOFTWARE LIMITED (REGISTERED NUMBER: 08954437)

BALANCE SHEET - continued
31 JULY 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 director and authorised for issue on 5 March 2024 and were signed by:





Miss K L Boyes - Director


RESIDENT PROPERTY SOFTWARE LIMITED (REGISTERED NUMBER: 08954437)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Resident Property Software 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 in the UK and Republic of Ireland and the companies Act 2006.

The following principal accounting policies have been applied.

Going concern

The director has considered the company's day to day working capital requirements and has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The accounts have been prepared on a going concern basis as the Director and an associated company have confirmed their continuing support for a period of twelve months from approval of these financial statements.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover 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.

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 the following conditions are satisfied:

-the amount of revenue can 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

-
deferred income represents advances received and for which the criteria for recognition as revenue has
not been met

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

RESIDENT PROPERTY SOFTWARE LIMITED (REGISTERED NUMBER: 08954437)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments 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 non-puttable ordinary shares.

Debt instruments, other than those wholly payable or receivable within one year, including loans and other accounts receivable and payable are initially measured at the present value of future cash flows, and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured at the undiscounted amount of consideration expected to be paid or received. If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not at a market rate, the financial asset or liability is initially measured at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument, and subsequently measured at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment, and such impairments is recognised in total comprehensive income.

Taxation
Tax is recognised in the statement of income and Retained earnings, except that a charge attributable to an item of the 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 on the equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

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.

Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence, all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. the capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives.

If is is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

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 6 (2022 - 6 ) .

RESIDENT PROPERTY SOFTWARE LIMITED (REGISTERED NUMBER: 08954437)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2022
and 31 July 2023 222,449
AMORTISATION
At 1 August 2022 126,480
Charge for year 22,245
At 31 July 2023 148,725
NET BOOK VALUE
At 31 July 2023 73,724
At 31 July 2022 95,969

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 1,673
Additions 2,319
At 31 July 2023 3,992
DEPRECIATION
At 1 August 2022 812
Charge for year 949
At 31 July 2023 1,761
NET BOOK VALUE
At 31 July 2023 2,231
At 31 July 2022 861

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 261,285 222,267
Other debtors 411,338 316,987
672,623 539,254

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 27,650 15,833
Trade creditors 30,780 37,048
Taxation and social security 109,752 94,587
Other creditors 529,326 412,738
697,508 560,206

RESIDENT PROPERTY SOFTWARE LIMITED (REGISTERED NUMBER: 08954437)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 23,500

9. RESERVES

Retained earnings represents distributable reserves of accumulated profits and losses.

10. PENSION COMMITMENTS

There were contributions totalling £1,920 (2022: £1,070) due and not paid at the reporting date. This is included within Other Creditors.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
Miss K L Boyes
Balance outstanding at start of year 145,166 223,684
Amounts advanced 174,920 265,052
Amounts repaid (226,824 ) (343,570 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 93,262 145,166

Advances to the director are unsecured and repayable on demand. Interest is charged on outstanding balances at HMRC's official rate.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Miss K L Boyes.