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Company No: 08614331 (England and Wales)

NEW RESOLVE (UK) LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

NEW RESOLVE (UK) LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

NEW RESOLVE (UK) LIMITED

COMPANY INFORMATION

For the financial year ended 31 July 2023
NEW RESOLVE (UK) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 July 2023
DIRECTORS Mrs A Reynolds
Mr G Reynolds
REGISTERED OFFICE Sigma House Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
BUSINESS ADDRESS 4 Maidenfield
Teignmouth Road
Maidencombe
Torquay
Devon
TQ1 4SY
COMPANY NUMBER 08614331 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
NEW RESOLVE (UK) LIMITED

BALANCE SHEET

As at 31 July 2023
NEW RESOLVE (UK) LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 143 192
143 192
Current assets
Debtors 4 1,645 0
Cash at bank and in hand 28,240 27,414
29,885 27,414
Creditors: amounts falling due within one year 5 ( 21,590) ( 16,444)
Net current assets 8,295 10,970
Total assets less current liabilities 8,438 11,162
Net assets 8,438 11,162
Capital and reserves
Called-up share capital 6 1,000 1,000
Profit and loss account 7,438 10,162
Total shareholders' funds 8,438 11,162

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of New Resolve (UK) Limited (registered number: 08614331) were approved and authorised for issue by the Board of Directors on 24 April 2024. They were signed on its behalf by:

Mr G Reynolds
Director
NEW RESOLVE (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
NEW RESOLVE (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

New Resolve (UK) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom. The principal place of business is 4 Maidenfield, Teignmouth Road, Maidencombe, Torquay, Devon, TQ1 4SY.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 2

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 August 2022 1,215 1,215
At 31 July 2023 1,215 1,215
Accumulated depreciation
At 01 August 2022 1,023 1,023
Charge for the financial year 49 49
At 31 July 2023 1,072 1,072
Net book value
At 31 July 2023 143 143
At 31 July 2022 192 192

4. Debtors

2023 2022
£ £
Trade debtors 1,645 0

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to directors 21,235 16,797
Accruals 1,800 1,200
Taxation and social security ( 1,445) ( 1,553)
21,590 16,444

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000