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REGISTERED NUMBER: 04964839 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

RESIDE LIMITED

RESIDE LIMITED (REGISTERED NUMBER: 04964839)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RESIDE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: R Zribi





REGISTERED OFFICE: 130A New Cross Road
New Cross
London
SE14 5BA





REGISTERED NUMBER: 04964839 (England and Wales)






RESIDE LIMITED (REGISTERED NUMBER: 04964839)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,396 12,528
Investment property 5 4,100,000 4,100,000
4,109,396 4,112,528

CURRENT ASSETS
Debtors 6 7,121 20,191
Cash at bank and in hand 789,912 613,657
797,033 633,848
CREDITORS
Amounts falling due within one year 7 124,296 104,898
NET CURRENT ASSETS 672,737 528,950
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,782,133

4,641,478

CREDITORS
Amounts falling due after more than one
year

8

(1,156,859

)

(1,157,146

)

PROVISIONS FOR LIABILITIES (315,288 ) (315,288 )
NET ASSETS 3,309,986 3,169,044

CAPITAL AND RESERVES
Called up share capital 11 1 1
Other reserves 1,344,126 1,344,126
Retained earnings 1,965,859 1,824,917
SHAREHOLDERS' FUNDS 3,309,986 3,169,044

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 LIMITED (REGISTERED NUMBER: 04964839)

BALANCE SHEET - continued
30 NOVEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 August 2024 and were signed by:





R Zribi - Director


RESIDE LIMITED (REGISTERED NUMBER: 04964839)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Reside 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 as modified by the revaluation of certain assets.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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 4 (2022 - 5 ) .

RESIDE LIMITED (REGISTERED NUMBER: 04964839)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 105,056
DEPRECIATION
At 1 December 2022 92,528
Charge for year 3,132
At 30 November 2023 95,660
NET BOOK VALUE
At 30 November 2023 9,396
At 30 November 2022 12,528

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 4,100,000
NET BOOK VALUE
At 30 November 2023 4,100,000
At 30 November 2022 4,100,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2023 4,100,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,652 17,758
Other debtors 2,469 2,433
7,121 20,191

RESIDE LIMITED (REGISTERED NUMBER: 04964839)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Payments on account 36,779 29,700
Trade creditors 3,712 1,167
Taxation and social security 66,525 57,192
Other creditors 17,280 16,839
124,296 104,898

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1,156,859 1,157,146

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,156,859 1,157,146

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,156,859 1,157,146

The bank loans are secured by way of a fixed and floating charge over all assets of the company. The bank loans are secured by way of joint and several personal guarantees by the director, R Zribi.

10. FINANCIAL INSTRUMENTS

Financial instruments are classified and accounted for according to the substance of the contractual agreement, as financial assets, financial liabilities or equity instruments.

11. CALLED UP SHARE CAPITAL

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