Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity33false 12981134 2023-04-01 2024-03-31 12981134 2022-04-01 2023-03-31 12981134 2024-03-31 12981134 2023-03-31 12981134 c:Director1 2023-04-01 2024-03-31 12981134 c:Director3 2023-04-01 2024-03-31 12981134 d:Buildings 2023-04-01 2024-03-31 12981134 d:Buildings 2024-03-31 12981134 d:Buildings 2023-03-31 12981134 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12981134 d:FurnitureFittings 2023-04-01 2024-03-31 12981134 d:FurnitureFittings 2024-03-31 12981134 d:FurnitureFittings 2023-03-31 12981134 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12981134 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12981134 d:CurrentFinancialInstruments 2024-03-31 12981134 d:CurrentFinancialInstruments 2023-03-31 12981134 d:Non-currentFinancialInstruments 2024-03-31 12981134 d:Non-currentFinancialInstruments 2023-03-31 12981134 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12981134 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12981134 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 12981134 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12981134 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 12981134 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 12981134 d:ShareCapital 2024-03-31 12981134 d:ShareCapital 2023-03-31 12981134 d:RetainedEarningsAccumulatedLosses 2024-03-31 12981134 d:RetainedEarningsAccumulatedLosses 2023-03-31 12981134 c:FRS102 2023-04-01 2024-03-31 12981134 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12981134 c:FullAccounts 2023-04-01 2024-03-31 12981134 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12981134 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 12981134









RESET 5 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
RESET 5 LIMITED
REGISTERED NUMBER: 12981134

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
623,635
630,646

  
623,635
630,646

Current assets
  

Debtors: amounts falling due within one year
 5 
1,329
1,329

Cash at bank and in hand
 6 
6,722
4,704

  
8,051
6,033

Creditors: amounts falling due within one year
 7 
(62,390)
(52,047)

Net current liabilities
  
 
 
(54,339)
 
 
(46,014)

Total assets less current liabilities
  
569,296
584,632

Creditors: amounts falling due after more than one year
  
(720,849)
(717,516)

  

Net liabilities
  
(151,553)
(132,884)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(151,653)
(132,984)

  
(151,553)
(132,884)


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.
Page 1

 
RESET 5 LIMITED
REGISTERED NUMBER: 12981134
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


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.




Isaac Shomade
Duncan William Stannett
Director
Director

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

Page 2

 
RESET 5 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Reset 5 Ltd is a company limited by shares, incorporated in England and Wales under the Companies Act. The address of the registered office is given on the company information page and the principle activity of the business is that of a rental property. 

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 following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Borrowing costs

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

 
2.4

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Fixtures and fittings
-
25%
Reducing balance

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.

 
2.5

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.

Page 3

 
RESET 5 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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 3 (2023 - 3).


4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2023
601,300
39,688
640,988



At 31 March 2024

601,300
39,688
640,988



Depreciation


At 1 April 2023
-
10,342
10,342


Charge for the year on owned assets
-
7,011
7,011



At 31 March 2024

-
17,353
17,353



Net book value



At 31 March 2024
601,300
22,335
623,635



At 31 March 2023
601,300
29,346
630,646

Page 4

 
RESET 5 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Prepayments and accrued income
1,329
1,329

1,329
1,329



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
6,722
4,704

6,722
4,704



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
61,940
52,047

Accruals
450
-

62,390
52,047



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
418,516
418,516

Other creditors
302,333
299,000

720,849
717,516


Page 5

 
RESET 5 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
418,516
418,516

418,516
418,516


One Savings Bank PLC have secured this debt by charge over the property to which it relates. 


10.


Related party transactions

IIncluded within creditors due greater than one year are amounts due to Resas Developments Limited amonting to £302,333 (2023: £299,000), a company with common Directors. No Interest was charged on this balance. 

 
Page 6