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REGISTERED NUMBER: 08668072 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

RESOLUTE PROPERTIES LIMITED

RESOLUTE PROPERTIES LIMITED (REGISTERED NUMBER: 08668072)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RESOLUTE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr M J Doughty
Mr I S Doughty
Mrs K E Reeve





REGISTERED OFFICE: Ingram House
Meridian Way
Norwich
Norfolk
NR7 0TA





REGISTERED NUMBER: 08668072 (England and Wales)





AUDITORS: CG LEE Limited
Chartered Certified Accountants
Statutory Auditors
Ingram House
Meridian Way
Norwich
Norfolk
NR7 0TA

RESOLUTE PROPERTIES LIMITED (REGISTERED NUMBER: 08668072)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investment property 4 1,038,492 1,016,786

CURRENT ASSETS
Debtors 5 6,061 53,115
Cash at bank 5,929 11,510
11,990 64,625
CREDITORS
Amounts falling due within one year 6 10,959 11,470
NET CURRENT ASSETS 1,031 53,155
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,039,523

1,069,941

CREDITORS
Amounts falling due after more than one
year

7

(810,297

)

(850,297

)

PROVISIONS FOR LIABILITIES (42,585 ) (38,785 )
NET ASSETS 186,641 180,859

CAPITAL AND RESERVES
Called up share capital 8 10 10
Non-distributable reserve 177,338 161,058
Retained earnings 9,293 19,791
SHAREHOLDERS' FUNDS 186,641 180,859

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2025 and were signed on its behalf by:





Mr I S Doughty - Director


RESOLUTE PROPERTIES LIMITED (REGISTERED NUMBER: 08668072)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Resolute Properties 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.

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.

The functional and presentation currency of these financial statements is pound sterling.

Revenue recognition
Turnover represents rental income from operating leases, net of value added tax, and is recognised on a straight-line basis over the term of the relevant lease unless the lease payments are structured to increase with general inflation in which case the income is recognised as revenue in accordance with the expected payments.

Tangible assets
Tangible assets are recorded at cost less accumulated depreciation. Depreciation is calculated so as to write off the cost of fixed assets, less their estimated residual values, over the expected useful economic lives of the assets concerned. The principal annual rates used for this purpose are as follows:

Plant and machinery etc - straight line over 3 years

Investment property
Investment properties are initially recorded at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. The gain or loss on revaluation is recognised in the Income Statement in the period in which it arises. Such gains or losses are transferred from retained earnings to a non-distributable reserve.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

RESOLUTE PROPERTIES LIMITED (REGISTERED NUMBER: 08668072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Foreign currency transactions are translated into the functional currency using the spot exchange rates ruling 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 taken to profit or loss.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 1,016,786
Revaluations 29,010
Foreign exchange differences (7,304 )
At 31 August 2024 1,038,492
NET BOOK VALUE
At 31 August 2024 1,038,492
At 31 August 2023 1,016,786

The directors value the company's investment property portfolio annually at the balance sheet date. The directors use their own knowledge and experience to assess the open market value of each property.

The historical cost of the company's investment properties is £813,791 (2023 - £813,791).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,061 53,115

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 3,823
Amounts owed to group undertakings 4,800 3,394
Taxation and social security 1,500 -
Other creditors 4,659 4,253
10,959 11,470

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 810,297 850,297

RESOLUTE PROPERTIES LIMITED (REGISTERED NUMBER: 08668072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Mr Christopher Glen Bidgood (Senior Statutory Auditor)
for and on behalf of CG LEE Limited

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Section 1A 'Small Entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Resolute Corporate Holdings Limited.

Resolute Corporate Holdings Limited is the company of the smallest and largest group of undertakings for which
group financial statements are drawn up. Copies of the consolidated financial statements of Resolute Corporate Holdings Limited are publicly available from Companies House, Crown Way, Cardiff, CF14 3UZ.