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REGISTERED NUMBER: 05721052 (England and Wales)















RESOLVE IT SOLUTIONS LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






RESOLVE IT SOLUTIONS LIMITED (REGISTERED NUMBER: 05721052)

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


RESOLVE IT SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: A E Seaton





SECRETARY: Mrs R E Seaton





REGISTERED OFFICE: Acorn Business Park
Woodseats Close
Sheffield
S8 0TB





REGISTERED NUMBER: 05721052 (England and Wales)





ACCOUNTANTS: Duncan Chartered Accountants
5 Cherrytree
Union Road
Sheffield
South Yorkshire
S11 9EF

RESOLVE IT SOLUTIONS LIMITED (REGISTERED NUMBER: 05721052)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 301,139 318,552

CURRENT ASSETS
Stocks 26,596 35,404
Debtors 5 457,076 293,546
Cash at bank 267,809 273,219
751,481 602,169
CREDITORS
Amounts falling due within one year 6 716,740 802,033
NET CURRENT ASSETS/(LIABILITIES) 34,741 (199,864 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

335,880

118,688

PROVISIONS FOR LIABILITIES 49,701 -
NET ASSETS 286,179 118,688

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 286,177 118,686
286,179 118,688

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 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.

RESOLVE IT SOLUTIONS LIMITED (REGISTERED NUMBER: 05721052)

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 director and authorised for issue on 10 October 2024 and were signed by:





A E Seaton - Director


RESOLVE IT SOLUTIONS LIMITED (REGISTERED NUMBER: 05721052)

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


1. STATUTORY INFORMATION

Resolve It Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Short leasehold - 10% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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

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.


RESOLVE IT SOLUTIONS LIMITED (REGISTERED NUMBER: 05721052)

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


2. ACCOUNTING POLICIES - continued
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 38 (2023 - 38 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 282,753 41,430 80,174 404,357
Additions 22,000 - 8,973 30,973
Disposals - - (60,053 ) (60,053 )
At 31 March 2024 304,753 41,430 29,094 375,277
DEPRECIATION
At 1 April 2023 16,438 7,028 62,339 85,805
Charge for year 29,559 10,357 5,621 45,537
Eliminated on disposal - - (57,204 ) (57,204 )
At 31 March 2024 45,997 17,385 10,756 74,138
NET BOOK VALUE
At 31 March 2024 258,756 24,045 18,338 301,139
At 31 March 2023 266,315 34,402 17,835 318,552

RESOLVE IT SOLUTIONS LIMITED (REGISTERED NUMBER: 05721052)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 340,921 250,091
Other debtors 116,155 43,455
457,076 293,546

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 222,368 157,444
Taxation and social security 21,706 27,886
VAT 68,511 70,382
Other creditors 100,402 98,641
Directors' loan accounts 188,842 338,842
Accruals and deferred income 114,911 108,838
716,740 802,033

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 33,733 -
Between one and five years 209,734 188,467
In more than five years 183,333 238,333
426,800 426,800

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Andrew Seaton and Rachael Seaton who are the beneficial owners of the company's entire share capital.