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Registered number: 05484260










NEW RESOLUTION LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




















 
NEW RESOLUTION LIMITED
 
 
Company Information


Director
R A Young 




Company secretary
E Young



Registered number
05484260



Registered office
3rd Floor
12 Gough Square

London

EC4A 3DW




Bankers
HSBC plc
46 The Broadway Ealing

London

W5 5JZ





 
NEW RESOLUTION LIMITED
Registered number: 05484260

Balance Sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
3,733

Tangible assets
 5 
-
136

  
-
3,869

Current assets
  

Debtors: amounts falling due within one year
 6 
16,493
5,005

Cash at bank and in hand
  
12,545
56,109

  
29,038
61,114

Creditors: amounts falling due within one year
 7 
(38,957)
(52,332)

Net current (liabilities)/assets
  
 
 
(9,919)
 
 
8,782

Total assets less current liabilities
  
(9,919)
12,651

  

Net (liabilities)/assets
  
(9,919)
12,651


Capital and reserves
  

Called up share capital 
 8 
200
200

Profit and loss account
  
(10,119)
12,451

  
(9,919)
12,651


The director considers 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 director acknowledges his 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 27 March 2025.


R A Young
Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
NEW RESOLUTION LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

1.


General information

New Resolution Limited is a private limited company, incorporated in the United Kingdom and registered in England and Wales. The Company's registered office address is 3rd Floor, 12 Gough Square, London, EC4A 3DW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared under the going concern basis, as it is the intention of the director to provide whatever financial support is necessary in order for the Company to continue to meet its liabilities as they fall due for the foreseeable future.

 
2.3

Turnover

Turnover comprises consultancy fees and support services receivable during the year, exclusive of Value Added Tax.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

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.

 
2.6

Borrowing costs

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

Page 2

 
NEW RESOLUTION LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

 The estimated useful lives range as follows:

Franchise licence
-
5
years

Page 3

 
NEW RESOLUTION LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.8

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:

Equipment
-
33.33% pa straight-line
Other fixed assets
-
20% pa straight-line

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 4

 
NEW RESOLUTION LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.12

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.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.14

Taxation

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.



3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 3).

Page 5

 
NEW RESOLUTION LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

4.


Intangible assets




Franchise licence

£





At 1 July 2023
8,000


Disposals
(8,000)



At 30 June 2024

-





At 1 July 2023
4,267


On disposals
(4,267)



At 30 June 2024

-



Net book value



At 30 June 2024
-



At 30 June 2023
3,733



Page 6

 
NEW RESOLUTION LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

5.


Tangible fixed assets





Office equipment
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 July 2023
827
2,200
3,027



At 30 June 2024

827
2,200
3,027



Depreciation


At 1 July 2023
691
2,200
2,891


Charge for the year on owned assets
136
-
136



At 30 June 2024

827
2,200
3,027



Net book value



At 30 June 2024
-
-
-



At 30 June 2023
136
-
136

Page 7

 
NEW RESOLUTION LIMITED
 
 
 
Notes to the Financial Statements
For the Year Ended 30 June 2024

6.


Debtors

2024
2023
£
£


Trade debtors
-
1,380

Other debtors
10,856
3,625

Tax recoverable
5,637
-

16,493
5,005



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,631
19,935

Trade creditors
5,910
6,510

Corporation tax
-
5,014

Other taxation and social security
-
5,702

Other creditors
23,516
10,246

Accruals and deferred income
3,900
4,925

38,957
52,332



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary A shares shares of £1.00 each
100
100
100 (2023 - 100) Ordinary B shares shares of £1.00 each
100
100

200

200


 
Page 8