Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312false2023-04-01falseDevelopment of building projects2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10726147 2023-04-01 2024-03-31 10726147 2022-04-01 2023-03-31 10726147 2024-03-31 10726147 2023-03-31 10726147 c:Director1 2023-04-01 2024-03-31 10726147 c:Director2 2023-04-01 2024-03-31 10726147 d:CurrentFinancialInstruments 2024-03-31 10726147 d:CurrentFinancialInstruments 2023-03-31 10726147 d:Non-currentFinancialInstruments 2024-03-31 10726147 d:Non-currentFinancialInstruments 2023-03-31 10726147 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10726147 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10726147 d:UKTax 2023-04-01 2024-03-31 10726147 d:UKTax 2022-04-01 2023-03-31 10726147 d:ShareCapital 2024-03-31 10726147 d:ShareCapital 2023-03-31 10726147 d:RetainedEarningsAccumulatedLosses 2024-03-31 10726147 d:RetainedEarningsAccumulatedLosses 2023-03-31 10726147 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10726147 c:OrdinaryShareClass1 2024-03-31 10726147 c:OrdinaryShareClass1 2023-03-31 10726147 c:FRS102 2023-04-01 2024-03-31 10726147 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10726147 c:FullAccounts 2023-04-01 2024-03-31 10726147 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10726147 2 2023-04-01 2024-03-31 10726147 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10726147









RESAS DEVELOPMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
RESAS DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10726147

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 5 
1,042,453
969,037

Debtors: amounts falling due after more than one year
 6 
304,333
301,000

Debtors: amounts falling due within one year
 6 
100
3,331

Cash at bank and in hand
 7 
15,538
98,114

  
1,362,424
1,371,482

Creditors: amounts falling due within one year
 8 
(1,316,989)
(1,321,048)

Net current assets
  
 
 
45,435
 
 
50,434

Total assets less current liabilities
  
45,435
50,434

  

Net assets
  
45,435
50,434


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
45,335
50,334

  
45,435
50,434


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 28 March 2025.



D W Stannett
I Shomade
Page 1

 
RESAS DEVELOPMENTS LIMITED
REGISTERED NUMBER: 10726147
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

Director
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
RESAS DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

RESAS Developments Limited is a private company, limited by shares, registered in England and Wales. The company’s registered office is First Floor, 73-81 Southwark Bridge Road, London, SE1 0NQ and the principle activity of the company is that of property development.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Interest income

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

 
2.3

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.

 
2.4

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.

  
2.5

Stocks and work in progress

Stocks and work in progress relate to development properties unsold at the balance sheet date, stated at cost. Cost includes all direct costs such as materials, labour and other direct expense

 
2.6

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.

 
2.7

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.

Page 3

 
RESAS DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Taxation


2024
2023
£
£

Corporation tax


Adjustments in respect of previous periods
-
(25,022)


Total current tax
-
(25,022)

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of  25% (2023 - 19%).



Factors that may affect future tax charges

There were no factors that may affect future tax charges.


5.


Stocks

2024
2023
£
£

Work in progress
1,042,453
969,037

1,042,453
969,037



6.


Debtors

2024
2023
£
£
Page 4

 
RESAS DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.Debtors (continued)


Due after more than one year

Other debtors
304,333
301,000

304,333
301,000


2024
2023
£
£

Due within one year

Other debtors
100
3,331

100
3,331



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
15,538
98,114

15,538
98,114



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
16,272
16,272

Corporation tax
3,392
3,392

Other creditors
1,293,591
1,295,557

Accruals and deferred income
3,734
5,827

1,316,989
1,321,048


Other creditors are secured over the property held in development stock.

Page 5

 
RESAS DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



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



10.


Related party transactions

At the year end the company owed £139,829 (2023: £196,529 owed from) to companies that the directors control and £148,622 (2023: £152,092) to the directors of the company. These loans do not carry interest.

 
Page 6