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REGISTERED NUMBER: 11760093 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

RESONATE SYSTEMS LTD

RESONATE SYSTEMS LTD (REGISTERED NUMBER: 11760093)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RESONATE SYSTEMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R N Hillman
L M Hillman





REGISTERED OFFICE: 11a Chartwell Drive
Wigston
Leicester
LE18 2FL





REGISTERED NUMBER: 11760093 (England and Wales)





ACCOUNTANTS: AEH Accountancy Ltd
Church Farm
Main Street
Willey
Warwickshire
CV23 0SH

RESONATE SYSTEMS LTD (REGISTERED NUMBER: 11760093)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 179,046 105,918

CURRENT ASSETS
Stocks 168,766 155,579
Debtors 5 584,789 420,530
Cash at bank 107,301 228,598
860,856 804,707
CREDITORS
Amounts falling due within one year 6 369,589 364,192
NET CURRENT ASSETS 491,267 440,515
TOTAL ASSETS LESS CURRENT
LIABILITIES

670,313

546,433

PROVISIONS FOR LIABILITIES 24,290 20,124
NET ASSETS 646,023 526,309

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 645,923 526,209
646,023 526,309

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

RESONATE SYSTEMS LTD (REGISTERED NUMBER: 11760093)

BALANCE SHEET - continued
31 MARCH 2024


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 14 May 2024 and were signed on its behalf by:





R N Hillman - Director


RESONATE SYSTEMS LTD (REGISTERED NUMBER: 11760093)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Resonate Systems Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

RESONATE SYSTEMS LTD (REGISTERED NUMBER: 11760093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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 13 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 - 147,472 2,310
Additions 64,007 24,536 -
At 31 March 2024 64,007 172,008 2,310
DEPRECIATION
At 1 April 2023 - 44,197 1,379
Charge for year 12,801 29,775 233
At 31 March 2024 12,801 73,972 1,612
NET BOOK VALUE
At 31 March 2024 51,206 98,036 698
At 31 March 2023 - 103,275 931

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 - 3,683 153,465
Additions 26,617 4,154 119,314
At 31 March 2024 26,617 7,837 272,779
DEPRECIATION
At 1 April 2023 - 1,971 47,547
Charge for year 2,218 1,159 46,186
At 31 March 2024 2,218 3,130 93,733
NET BOOK VALUE
At 31 March 2024 24,399 4,707 179,046
At 31 March 2023 - 1,712 105,918

RESONATE SYSTEMS LTD (REGISTERED NUMBER: 11760093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1 April 2023 - 43,580 43,580
Additions 64,007 - 64,007
At 31 March 2024 64,007 43,580 107,587
DEPRECIATION
At 1 April 2023 - 23,119 23,119
Charge for year 12,801 5,115 17,916
At 31 March 2024 12,801 28,234 41,035
NET BOOK VALUE
At 31 March 2024 51,206 15,346 66,552
At 31 March 2023 - 20,461 20,461

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 428,188 402,459
Other debtors 45,000 -
Directors' current accounts 11,919 -
Prepayments 99,682 18,071
584,789 420,530

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 30,740 16,177
Trade creditors 220,349 182,413
Tax 46,761 65,492
Social security and other taxes 8,676 4,988
VAT 39,839 47,544
Other creditors 1,125 -
Directors' current accounts - 41,978
Accrued expenses 22,099 5,600
369,589 364,192