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REGISTERED NUMBER: 04953246 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

RESOLUTION HOMES LTD

RESOLUTION HOMES LTD (REGISTERED NUMBER: 04953246)






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


RESOLUTION HOMES LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Mr E W H Lawley
Mr C T Porter





SECRETARY: Mr E W H Lawley





REGISTERED OFFICE: The Loft
111 Dunstable Street
Ampthill
Bedfordshire
MK45 2NG





REGISTERED NUMBER: 04953246 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

RESOLUTION HOMES LTD (REGISTERED NUMBER: 04953246)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,774 20,399
Investments 5 1 1
13,775 20,400

CURRENT ASSETS
Stocks 6 1,366,273 2,200,000
Debtors 7 553,469 843,657
Cash at bank - 4,416
1,919,742 3,048,073
CREDITORS
Amounts falling due within one year 8 1,868,503 2,002,864
NET CURRENT ASSETS 51,239 1,045,209
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,014

1,065,609

CREDITORS
Amounts falling due after more than one
year

9

(127,449

)

(205,780

)

PROVISIONS FOR LIABILITIES 12 - (903,000 )
NET LIABILITIES (62,435 ) (43,171 )

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings (62,535 ) (43,271 )
SHAREHOLDERS' FUNDS (62,435 ) (43,171 )

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.

RESOLUTION HOMES LTD (REGISTERED NUMBER: 04953246)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:




Mr E W H Lawley - Director



Mr C T Porter - Director


RESOLUTION HOMES LTD (REGISTERED NUMBER: 04953246)

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

1. STATUTORY INFORMATION

Resolution Homes 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.

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.

The accounts have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on sufficient and continuing financial support being made available by the company's directors, the shareholders and the creditors. If the company were unable to continue to trade adjustments would have to be made to reduce the value of assets to their realisable amount, to reclassify fixed assets as current assets, long-term liabilities as current liabilities, and to provide for any further liabilities that may arise.

Preparation of consolidated financial statements
The financial statements contain information about Resolution Homes Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

RESOLUTION HOMES LTD (REGISTERED NUMBER: 04953246)

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

2. ACCOUNTING POLICIES - continued

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

RESOLUTION HOMES LTD (REGISTERED NUMBER: 04953246)

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

2. ACCOUNTING POLICIES - continued

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.

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 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 47,604 16,880 17,200 23,693 105,377
DEPRECIATION
At 1 January 2023 38,841 16,163 11,758 18,216 84,978
Charge for year 2,191 179 1,360 2,895 6,625
At 31 December 2023 41,032 16,342 13,118 21,111 91,603
NET BOOK VALUE
At 31 December 2023 6,572 538 4,082 2,582 13,774
At 31 December 2022 8,763 717 5,442 5,477 20,399

RESOLUTION HOMES LTD (REGISTERED NUMBER: 04953246)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 32,250 17,200 49,450
DEPRECIATION
At 1 January 2023 24,351 11,758 36,109
Charge for year 1,975 1,360 3,335
At 31 December 2023 26,326 13,118 39,444
NET BOOK VALUE
At 31 December 2023 5,924 4,082 10,006
At 31 December 2022 7,899 5,442 13,341

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Resolution Homes (2019) Ltd
Registered office: The Loft, 111 Dunstable Street, Ampthill, Bedfordshire, MK45 2NG
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 1 1

6. STOCKS
31.12.23 31.12.22
£    £   
Work-in-progress 1,366,273 2,200,000

RESOLUTION HOMES LTD (REGISTERED NUMBER: 04953246)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 62,770 445,271
Other debtors 318,272 336,611
Tax - 13,294
Value added tax - 28,312
Deferred tax asset
Accelerated capital allowances 3,894 3,069
Prepayments 168,533 17,100
553,469 843,657

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 10) 150,551 9,870
Hire purchase contracts (see note 11) 10,325 14,230
Trade creditors 1,098,116 950,298
Amounts owed to group undertakings 212,849 164,849
Taxation - 13,481
Social security and other taxes 54,310 28,402
Value added tax 50,064 -
Other creditors 289,434 405,737
Directors' current accounts 2,059 15,202
Accruals 795 400,795
1,868,503 2,002,864

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 10) 17,449 25,780
Directors' loan accounts 110,000 180,000
127,449 205,780

10. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 140,476 -
Bank loans 10,075 9,870
150,551 9,870

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,330 10,119

RESOLUTION HOMES LTD (REGISTERED NUMBER: 04953246)

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

10. LOANS - continued
31.12.23 31.12.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 7,119 15,661

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 10,325 14,230

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 13,000 13,000
Between one and five years 52,000 52,000
In more than five years 36,833 49,833
101,833 114,833

The above lease has been disclosed based on the contractual term as agreed in the lease agreement, which terminates on the 30th of September 2031. This agreement contains break dates which occur on every second anniversary of the date agreed of the 1st of October 2023.

12. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Other provisions - 903,000

Deferred
tax
£   
Balance at 1 January 2023 (3,069 )
Credit to Statement of Income and Retained Earnings during year (825 )
Balance at 31 December 2023 (3,894 )

Other provisions comprises of a percentage of loss as a result of an onerous contract signed in the year. This has been assessed and estimated based on the current available information by the directors of the company.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100