Resolved Business Solutions Limited
Company Registration No. 07124239 (England And Wales)
Unaudited Financial Statements
Year Ended 31 May 2024
RESOLVED BUSINESS SOLUTIONS LIMITED
Resolved Business Solutions Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
RESOLVED BUSINESS SOLUTIONS LIMITED
Resolved Business Solutions Limited
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
90
Current assets
Debtors
5
578
352
Cash at bank and in hand
73
16
651
368
Creditors: amounts falling due within one year
6
(16,029)
(14,186)
Net current liabilities
(15,378)
(13,818)
Net liabilities
(15,378)
(13,728)
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
(15,388)
(13,738)
Total equity
(15,378)
(13,728)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
RESOLVED BUSINESS SOLUTIONS LIMITED
Resolved Business Solutions Limited
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 August 2024 and are signed on its behalf by:
Mr T Tutt
Director
Company registration number 07124239 (England and Wales)
RESOLVED BUSINESS SOLUTIONS LIMITED
Resolved Business Solutions Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information
Resolved Business Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6 George House, Beam Heath Way, Nantwich, Cheshire, CW5 6GD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
There was a net deficiency of assets of £15,378true at the balance sheet date, however the directors have confirmed continued support and consider the company retains sufficient working capital to continue trading for the foreseeable future. The accounts are therefore prepared on a going concern basis.
The accounts have been prepared on a going concern basis as the company will be supported by its director for the foreseeable future.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Website
5 years over straight line
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
RESOLVED BUSINESS SOLUTIONS LIMITED
Resolved Business Solutions Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% Straight Line
Computers
33% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
RESOLVED BUSINESS SOLUTIONS LIMITED
Resolved Business Solutions Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
3
Intangible fixed assets
Website
£
Cost
At 1 June 2023
450
Disposals
(450)
At 31 May 2024
Amortisation and impairment
At 1 June 2023
360
Disposals
(360)
At 31 May 2024
Carrying amount
At 31 May 2024
At 31 May 2023
90
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 June 2023
1,035
579
1,614
Disposals
(1,035)
(579)
(1,614)
At 31 May 2024
Depreciation and impairment
At 1 June 2023
1,035
579
1,614
Eliminated in respect of disposals
(1,035)
(579)
(1,614)
At 31 May 2024
Carrying amount
At 31 May 2024
At 31 May 2023
RESOLVED BUSINESS SOLUTIONS LIMITED
Resolved Business Solutions Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
226
Other debtors
352
352
578
352
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
16,029
14,186