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REGISTERED NUMBER: 12037037 (England and Wales)















RESOURCE R9 LIMITED

Unaudited Financial Statements

for the Year Ended 30 June 2024






RESOURCE R9 LIMITED (REGISTERED NUMBER: 12037037)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RESOURCE R9 LIMITED

Company Information
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: C Bryan
P Postle





SECRETARY: P G Hannah





REGISTERED OFFICE: C/o Resource Ltd
The Maltings
East Tyndall Street
Cardiff
County of Cardiff
CF24 5EA





REGISTERED NUMBER: 12037037 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

RESOURCE R9 LIMITED (REGISTERED NUMBER: 12037037)

Balance Sheet
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,358 4,919
Investment property 5 425,000 425,000
429,358 429,919

CURRENT ASSETS
Debtors 6 29,471 33,580
Cash at bank 447 49
29,918 33,629
CREDITORS
Amounts falling due within one year 7 (543,809 ) (467,845 )
NET CURRENT LIABILITIES (513,891 ) (434,216 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(84,533

)

(4,297

)

CREDITORS
Amounts falling due after more than one
year

8

(3,126

)

(5,938

)

PROVISIONS FOR LIABILITIES (9,015 ) (9,015 )
NET LIABILITIES (96,674 ) (19,250 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Revaluation reserve 11 27,043 27,043
Retained earnings 11 (123,718 ) (46,294 )
SHAREHOLDERS' FUNDS (96,674 ) (19,250 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

RESOURCE R9 LIMITED (REGISTERED NUMBER: 12037037)

Balance Sheet - continued
30 JUNE 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





P Postle - Director


RESOURCE R9 LIMITED (REGISTERED NUMBER: 12037037)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Resource R9 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 company's functional presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied unless otherwise stated.

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 as modified by the revaluation of certain assets.

There have been no material departures from the Financial Reporting Standard 102.

Going concern
As at 30 June 2024 there were net current liabilities of £513,891 and net liabilities of £96,674. The directors consider the going concern basis adopted for these financial statements to be appropriate, based upon available continued support.

TURNOVER
Turnover represents rent receivable during the period, excluding value added tax.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

DEBTORS AND CREDITORS RECEIVABLE / PAYABLE WITHIN ONE YEAR
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

RESOURCE R9 LIMITED (REGISTERED NUMBER: 12037037)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 July 2023
and 30 June 2024 5,612
DEPRECIATION
At 1 July 2023 693
Charge for year 561
At 30 June 2024 1,254
NET BOOK VALUE
At 30 June 2024 4,358
At 30 June 2023 4,919

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 425,000
NET BOOK VALUE
At 30 June 2024 425,000
At 30 June 2023 425,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 425,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 388,942 388,942

Investment property was valued on an open market basis on 17 April 2022 by appointed Registered Valuers .

In the opinion of the Directors, the fair value of the property is unchanged from the April 2022 formal valuation.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,281 5,124
VAT - 813
Other debtors 1 1
Prepayments and accrued income 28,189 27,642
29,471 33,580

RESOURCE R9 LIMITED (REGISTERED NUMBER: 12037037)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,786 2,743
Trade creditors 43,593 29,425
VAT 187 -
Secured loan 378,480 378,480
Other creditors 117,000 55,000
Accruals and deferred income 1,763 2,197
543,809 467,845

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loan 3,126 5,938

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Secured loan 378,480 378,480

At 30 June 2024 the secured loan was secured by way of a fixed and floating charge over the assets of the company. This charge was satisfied in full on 6 November 2024.

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 July 2023 (46,294 ) 27,043 (19,251 )
Deficit for the year (77,424 ) (77,424 )
At 30 June 2024 (123,718 ) 27,043 (96,675 )

Deferred tax has been applied on the future taxable gain at 25%.

12. RELATED PARTY DISCLOSURES

At 30 June 2024 the following related party loan balance existed:

30.06.2430.06.23
£   £   
Other related parties
Creditors: Amounts falling due within one year (other creditors)117,00055,000
Creditors: Amounts falling due within one year (Secured loan)378,480378,480

No interest has been charged on the above loans.

RESOURCE R9 LIMITED (REGISTERED NUMBER: 12037037)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


13. ULTIMATE PARENT COMPANY

On 9 October 2024 the company became a 100% owned subsidiary of Euro Commercials Holdings Limited, a company incorporated in Wales.