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REGISTERED NUMBER: 04979692 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

RESOLEX (HOLDINGS) LIMITED

RESOLEX (HOLDINGS) LIMITED (REGISTERED NUMBER: 04979692)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

RESOLEX (HOLDINGS) LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: D M M Dutton
P C Green
E G L Moore
J S Palmer
E E Patrick





SECRETARY: M & N Secretaries Limited





REGISTERED OFFICE: 1 Paternoster Lane
London
United Kingdom
EC4M 7BQ





REGISTERED NUMBER: 04979692 (England and Wales)





ACCOUNTANTS: BSR Bespoke Chartered Accountants
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH

RESOLEX (HOLDINGS) LIMITED (REGISTERED NUMBER: 04979692)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,412 8,410
Investments 5 35,500 35,500
43,912 43,910

CURRENT ASSETS
Debtors 6 550,400 296,441
Cash at bank 240,163 222,625
790,563 519,066
CREDITORS
Amounts falling due within one year 7 121,198 54,475
NET CURRENT ASSETS 669,365 464,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

713,277

508,501

CAPITAL AND RESERVES
Called up share capital 174,461 174,461
Share premium 888,076 888,076
Other reserves 556,481 556,481
Share option reserve 16,050 -
Retained earnings (921,791 ) (1,110,517 )
713,277 508,501

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

RESOLEX (HOLDINGS) LIMITED (REGISTERED NUMBER: 04979692)

BALANCE SHEET - continued
31 December 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 Board of Directors and authorised for issue on 7 May 2024 and were signed on its behalf by:





E G L Moore - Director


RESOLEX (HOLDINGS) LIMITED (REGISTERED NUMBER: 04979692)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Resolex (Holdings) 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.
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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.

RESOLEX (HOLDINGS) LIMITED (REGISTERED NUMBER: 04979692)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Deferred shares
The company recognises that the deferred shares carry no liability as they are non-redeemable. The shares carry no rights to vote, receive dividends or in a winding up. The policy on recognition is to account for these as a capital contribution.

Share-based payments
Equity-settled arrangements are measured at fair value (excluding the effect of non-market based vesting conditions) at the date of the grant. The fair value is expensed on a straight-line basis over the vesting period. The amount recognised as an expense is adjusted to reflect the actual number of shares or options that will vest.

Where equity-settled arrangements are modified, and are of benefit to the employee, the incremental fair value is recognised over the period from the date of modification to date of vesting. Where modification is not beneficial to the employee there is no change to the charge for share-based payment. Settlements and cancellations are treated as an acceleration of vesting and the unvest amount it recognised immediately in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 13,320
Additions 2,806
At 31 December 2023 16,126
DEPRECIATION
At 1 January 2023 4,910
Charge for year 2,804
At 31 December 2023 7,714
NET BOOK VALUE
At 31 December 2023 8,412
At 31 December 2022 8,410

RESOLEX (HOLDINGS) LIMITED (REGISTERED NUMBER: 04979692)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


5. FIXED ASSET INVESTMENTS
Shares in
group
undertak-
ings
£   
COST
At 1 January 2023
and 31 December 2023 35,500
NET BOOK VALUE
At 31 December 2023 35,500
At 31 December 2022 35,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 212,948 25,639
Amounts owed by group undertakings 85,574 85,574
Other debtors 251,878 185,228
550,400 296,441

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 21,149 7,412
Taxation and social security 65,915 32,927
Other creditors 34,134 14,136
121,198 54,475

RESOLEX (HOLDINGS) LIMITED (REGISTERED NUMBER: 04979692)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


8. SHARE-BASED PAYMENT TRANSACTIONS

The company operates an equity settled Enterprise Management Incentive (EMI) Share Option Scheme. The options vest immediately at the date of the grant and have to be exercised within 5 years with at least 10% required to be exercised within the first year.

Employees are not entitled to dividends until the shares are exercised. On exercising of the options the company will issue new shares.

A reconciliation of share option movements over the year to 31 December 2023 is show below:

2023




No.
Weighted
average exercise
price (£)
Brought forward-
Granted in the period2,052,4780.02
Exercised in the period-
Carried forward2,052,4780.02


The fair value of the options is measured using the Black-Scholes method. The total charge recognised during the year was £16,050.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
RESOLEX (HOLDINGS) LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Resolex (Holdings) Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Resolex (Holdings) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Resolex (Holdings) Limited and state those matters that we have agreed to state to the Board of Directors of Resolex (Holdings) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Resolex (Holdings) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Resolex (Holdings) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Resolex (Holdings) Limited. You consider that Resolex (Holdings) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Resolex (Holdings) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BSR Bespoke Chartered Accountants
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH


7 May 2024