Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-31true2023-06-01falseNo description of principal activity1413falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false NI634844 2023-06-01 2024-05-31 NI634844 2022-06-01 2023-05-31 NI634844 2024-05-31 NI634844 2023-05-31 NI634844 2022-06-01 NI634844 c:Director1 2023-06-01 2024-05-31 NI634844 d:PlantMachinery 2023-06-01 2024-05-31 NI634844 d:PlantMachinery 2024-05-31 NI634844 d:PlantMachinery 2023-05-31 NI634844 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI634844 d:MotorVehicles 2023-06-01 2024-05-31 NI634844 d:MotorVehicles 2024-05-31 NI634844 d:MotorVehicles 2023-05-31 NI634844 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI634844 d:OfficeEquipment 2023-06-01 2024-05-31 NI634844 d:OfficeEquipment 2024-05-31 NI634844 d:OfficeEquipment 2023-05-31 NI634844 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI634844 d:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 NI634844 d:OtherPropertyPlantEquipment 2024-05-31 NI634844 d:OtherPropertyPlantEquipment 2023-05-31 NI634844 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI634844 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI634844 d:CurrentFinancialInstruments 2024-05-31 NI634844 d:CurrentFinancialInstruments 2023-05-31 NI634844 d:CurrentFinancialInstruments 1 2024-05-31 NI634844 d:CurrentFinancialInstruments 1 2023-05-31 NI634844 d:Non-currentFinancialInstruments 2024-05-31 NI634844 d:Non-currentFinancialInstruments 2023-05-31 NI634844 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 NI634844 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 NI634844 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 NI634844 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 NI634844 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 NI634844 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 NI634844 d:ShareCapital 2024-05-31 NI634844 d:ShareCapital 2023-05-31 NI634844 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 NI634844 d:RetainedEarningsAccumulatedLosses 2024-05-31 NI634844 d:RetainedEarningsAccumulatedLosses 2023-05-31 NI634844 c:OrdinaryShareClass1 2023-06-01 2024-05-31 NI634844 c:OrdinaryShareClass1 2024-05-31 NI634844 c:OrdinaryShareClass1 2023-05-31 NI634844 c:FRS102 2023-06-01 2024-05-31 NI634844 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 NI634844 c:FullAccounts 2023-06-01 2024-05-31 NI634844 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI634844 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 NI634844 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 NI634844 f:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: NI634844










Resonate Testing Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 May 2024

 
Resonate Testing Limited
Registered number: NI634844

Balance Sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
239,764
295,224

  
239,764
295,224

Current assets
  

Stocks
  
12,450
8,500

Debtors
 6 
628,643
509,777

Cash at bank and in hand
  
136,383
94,359

  
777,476
612,636

Creditors: amounts falling due within one year
 7 
(238,357)
(106,531)

Net current assets
  
 
 
539,119
 
 
506,105

Total assets less current liabilities
  
778,883
801,329

Creditors: amounts falling due after more than one year
 8 
(299,801)
(204,977)

Provisions for liabilities
  

Deferred tax
 10 
-
(4,849)

  
 
 
-
 
 
(4,849)

Net assets
  
479,082
591,503


Capital and reserves
  

Called up share capital 
 11 
3
3

Profit and loss account
 12 
479,079
591,500

  
479,082
591,503

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Resonate Testing Limited
Registered number: NI634844

Balance Sheet (continued)
As at 31 May 2024

The directors consider 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 directors acknowledge their 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 on 3 February 2025.




Tom Mallon
Director

The notes on pages 3 to 10 form part of these financial statements.
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Resonate Testing Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

1.


General information

Resonate Testing Limited is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the company information section of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 Section 1A, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:

 
2.2

Going concern

The directors of Resonate Testing Limited have reviewed the appropriateness of the going concern assumption and consider that the company has sufficient resources to continue as a trading entity for the foreseeable future.
Accordingly, the directors believe that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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Resonate Testing Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

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Resonate Testing Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Motor vehicles
-
25%
Office equipment
-
20%
and 33%
Leasehold improvements
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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Resonate Testing Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

2.Accounting policies (continued)

 
2.11

Stocks

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

 
2.12

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.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

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.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the process of applying the company's accounting policies, management has not made any significant judgements.  There are no key assumptions concerning the future or other key sources of estimation, that have significant risk of raising a material adjustment to the carrying amounts of assets and liabilities within the financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 14 (2023 - 13).

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Resonate Testing Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Leasehold improvements
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
760,857
14,102
50,877
156,219
982,055


Additions
47,413
-
2,028
18,340
67,781


Transfers intra group
14,684
-
-
15,437
30,121



At 31 May 2024

822,954
14,102
52,905
189,996
1,079,957



Depreciation


At 1 June 2023
555,806
14,102
39,361
77,562
686,831


Charge for the year
96,826
-
6,075
23,835
126,736


Transfers intra group
11,189
-
-
15,437
26,626



At 31 May 2024

663,821
14,102
45,436
116,834
840,193



Net book value



At 31 May 2024
159,133
-
7,469
73,162
239,764



At 31 May 2023
205,051
-
11,516
78,657
295,224


6.


Debtors

2024
2023
£
£

Due after more than one year

Prepayments and accrued income
20,500
-

20,500
-

Due within one year

Trade debtors
152,474
67,777

Amounts owed by group undertakings
350,530
387,041

Other debtors
72,199
41,860

Prepayments and accrued income
32,940
13,099

628,643
509,777


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Resonate Testing Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

7.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank loans
5,378
5,239

Other loans
26,000
-

Trade creditors
20,171
25,466

Amounts owed to group undertakings
25,266
-

Other taxation and social security
35,329
7,513

Other creditors
9,225
6,269

Accruals and deferred income
95,527
40,973

Government grants received
21,461
21,071

238,357
106,531



8.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loans
118,022
34,640

Amounts owed to group undertakings
141,650
141,650

Government grants received
40,129
28,687

299,801
204,977


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Resonate Testing Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,378
5,239

Other loans
26,000
-


31,378
5,239

Amounts falling due 1-2 years

Bank loans
118,023
34,639


118,023
34,639



149,401
39,878





10.


Deferred taxation




2024
2023


£

£






At beginning of year
(4,849)
(8,674)


Charged to profit or loss
4,849
3,825



At end of year
-
(4,849)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
(4,849)

-
(4,849)

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Page 9

 
Resonate Testing Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

11.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



3 (2023 - 3) Ordinary shares of £1.00 each
3
3



12.


Reserves

Profit and loss account

This balance includes the current and prior period retained losses.
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