Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30false12022-12-01No description of principal activity1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12327535 2022-12-01 2023-11-30 12327535 2021-12-01 2022-11-30 12327535 2023-11-30 12327535 2022-11-30 12327535 2021-12-01 12327535 c:Director1 2022-12-01 2023-11-30 12327535 d:CurrentFinancialInstruments 2023-11-30 12327535 d:CurrentFinancialInstruments 2022-11-30 12327535 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 12327535 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 12327535 d:ShareCapital 2023-11-30 12327535 d:ShareCapital 2022-11-30 12327535 d:ShareCapital 2021-12-01 12327535 d:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 12327535 d:RetainedEarningsAccumulatedLosses 2023-11-30 12327535 d:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 12327535 d:RetainedEarningsAccumulatedLosses 2022-11-30 12327535 d:RetainedEarningsAccumulatedLosses 2021-12-01 12327535 c:FRS102 2022-12-01 2023-11-30 12327535 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 12327535 c:FullAccounts 2022-12-01 2023-11-30 12327535 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 12327535










RESI FINANCE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
RESI FINANCE LIMITED
REGISTERED NUMBER: 12327535

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
10,836
8,864

  
10,836
8,864

Creditors: amounts falling due within one year
 5 
(148,088)
(165,895)

Total assets less current liabilities
  
 
 
(137,252)
 
 
(157,031)

  

Net liabilities
  
(137,252)
(157,031)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(137,253)
(157,032)

  
(137,252)
(157,031)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Coleman
Director

Date: 28 August 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 1

 
RESI FINANCE LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 December 2021
1
(157,032)
(157,031)



Profit for the year

-
19,779
19,779


At 30 November 2022
1
(137,253)
(137,252)


The notes on pages 3 to 5 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 December 2020
1
(177,473)
(177,472)



Profit for the year

-
20,441
20,441


At 30 November 2021
1
(157,032)
(157,031)


The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
RESI FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Resi Finance Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number 12327535 and office address is International House Canterbury Crescent, Floor 4, London, England, SW9 7QE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

As at 30 November 2023 the company had net liabilities of £137,252 (2022: £157,031). The company meets its day to day working capital requirements through loans from its parent undertaking. As at 30 November 2023, the amount due to the parent included in creditors was £141,691 (2022: £158,230).
The director has reasonable expectation that the company has adequate resources to continue in operational existence until a date at least twelve months from the date of approval of these financial statements. For this reason, they have adopted the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Financial instruments

Page 3

 
RESI FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.5
Financial instruments (continued)

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 4

 
RESI FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Debtors

2023
2022
£
£


Other debtors
10,836
8,864

10,836
8,864



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
141,691
158,230

Other taxation and social security
4,908
6,175

Other creditors
1,489
1,490

148,088
165,895


 
Page 5