Company Registration No. 02813537 (England and Wales)
Resiblock Limited
Unaudited accounts
for the year ended 30 September 2024
Resiblock Limited
Unaudited accounts
Contents
Resiblock Limited
Company Information
for the year ended 30 September 2024
Directors
Craig Amor
Paul Lamparter
Company Number
02813537 (England and Wales)
Registered Office
RESIBLOCK HOUSE
ARCHERS FIELDS CLOSE
BASILDON
ESSEX
SS13 1DW
Accountants
Blenheim Accountants
One Hub Southend
3rd Floor Maitland House
Southend-on-Sea
Essex
SS1 2JY
Resiblock Limited
Statement of financial position
as at 30 September 2024
Intangible assets
11,765
12,157
Tangible assets
8,105
9,555
Cash at bank and in hand
180,169
311,999
Creditors: amounts falling due within one year
(55,166)
(176,622)
Net current assets
215,524
267,271
Total assets less current liabilities
235,394
288,983
Creditors: amounts falling due after more than one year
(17,330)
(27,394)
Provisions for liabilities
Deferred tax
(2,444)
(2,905)
Net assets
215,620
258,684
Called up share capital
2,700
2,700
Profit and loss account
212,920
255,984
Shareholders' funds
215,620
258,684
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by
Paul Lamparter
Director
Company Registration No. 02813537
Resiblock Limited
Notes to the Accounts
for the year ended 30 September 2024
Resiblock Limited is a private company, limited by shares, registered in England and Wales, registration number 02813537. The registered office is RESIBLOCK HOUSE, ARCHERS FIELDS CLOSE, BASILDON, ESSEX, SS13 1DW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company?s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income
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 taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Resiblock Limited
Notes to the Accounts
for the year ended 30 September 2024
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing balance
Motor vehicles
20% Straight line
Fixtures & fittings
15% Reducing balance
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Patents 2% Straight line
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Resiblock Limited
Notes to the Accounts
for the year ended 30 September 2024
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
4
Intangible fixed assets
Other
At 30 September 2024
19,583
At 30 September 2024
7,818
At 30 September 2024
11,765
At 30 September 2023
12,157
The aggregate amount of research and development expenditure recognised as an expense during the period is £5 (2021 - £734).
Resiblock Limited
Notes to the Accounts
for the year ended 30 September 2024
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 October 2023
2,217
16,261
18,478
At 30 September 2024
2,217
16,261
18,478
At 1 October 2023
1,765
7,158
8,923
Charge for the year
85
1,365
1,450
At 30 September 2024
1,850
8,523
10,373
At 30 September 2024
367
7,738
8,105
At 30 September 2023
452
9,103
9,555
Finished goods
7,530
7,530
Amounts falling due within one year
Trade debtors
67,020
109,416
Accrued income and prepayments
3,632
4,639
Other debtors
12,339
10,309
8
Creditors: amounts falling due within one year
2024
2023
Trade creditors
24,380
119,106
Taxes and social security
18,433
43,937
Loans from directors
(18,861)
(18,861)
9
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
2,700 Ordinary shares of £1 each of £1 each
2,700
2,700
Resiblock Limited
Notes to the Accounts
for the year ended 30 September 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loans made to the Director
18,861
-
-
18,861
12
Transactions with related parties
The company has made a loan to a company controlled by the Directors. This company is incorporated in England and Wales. The loan is interest free and payable on demand.
At 30th September 2024 the balance owed on this loan is as follows:
Resiblock (Exports) Ltd £5,972.80 (2023: £5,187.16)
13
Average number of employees
During the year the average number of employees was 8 (2023: 9).