2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-30 Sage Accounts Production Advanced 2023 - FRS102_2023 1,189,123 1,172,323 2,400 1,174,723 14,400 16,800 1 1 1 xbrli:pure xbrli:shares iso4217:GBP 10994569 2023-08-30 2024-08-29 10994569 2024-08-29 10994569 2023-08-29 10994569 2022-08-30 2023-08-29 10994569 2023-08-29 10994569 2022-08-29 10994569 core:NetGoodwill 2023-08-30 2024-08-29 10994569 core:FurnitureFittings 2023-08-30 2024-08-29 10994569 bus:Director1 2023-08-30 2024-08-29 10994569 core:NetGoodwill 2023-08-29 10994569 core:NetGoodwill 2024-08-29 10994569 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-29 10994569 core:FurnitureFittings 2023-08-29 10994569 core:LandBuildings core:OwnedOrFreeholdAssets 2024-08-29 10994569 core:FurnitureFittings 2024-08-29 10994569 core:WithinOneYear 2024-08-29 10994569 core:WithinOneYear 2023-08-29 10994569 core:AfterOneYear 2024-08-29 10994569 core:AfterOneYear 2023-08-29 10994569 core:UKTax 2022-08-30 2023-08-29 10994569 core:ShareCapital 2024-08-29 10994569 core:ShareCapital 2023-08-29 10994569 core:RetainedEarningsAccumulatedLosses 2024-08-29 10994569 core:RetainedEarningsAccumulatedLosses 2023-08-29 10994569 core:BetweenOneFiveYears 2024-08-29 10994569 core:NetGoodwill 2023-08-29 10994569 core:CostValuation core:Non-currentFinancialInstruments 2023-08-29 10994569 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-08-29 10994569 core:Non-currentFinancialInstruments 2023-08-29 10994569 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-29 10994569 core:FurnitureFittings 2023-08-29 10994569 bus:SmallEntities 2023-08-30 2024-08-29 10994569 bus:AuditExemptWithAccountantsReport 2023-08-30 2024-08-29 10994569 bus:SmallCompaniesRegimeForAccounts 2023-08-30 2024-08-29 10994569 bus:PrivateLimitedCompanyLtd 2023-08-30 2024-08-29 10994569 bus:FullAccounts 2023-08-30 2024-08-29 10994569 core:UKTax 2023-08-30 2024-08-29
COMPANY REGISTRATION NUMBER: 10994569
RESOLUTE (LEEDS) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 August 2024
RESOLUTE (LEEDS) LIMITED
STATEMENT OF FINANCIAL POSITION
29 August 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Intangible assets
6
14,400
16,800
Tangible assets
7
319,359
294,695
Investments
8
1
---------
---------
333,759
311,496
CURRENT ASSETS
Debtors
9
85,628
139,443
Cash at bank and in hand
53,759
69,084
---------
---------
139,387
208,527
CREDITORS: amounts falling due within one year
10
( 1,467,577)
( 1,455,502)
------------
------------
NET CURRENT LIABILITIES
( 1,328,190)
( 1,246,975)
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 994,431)
( 935,479)
CREDITORS: amounts falling due after more than one year
11
( 7,500)
( 50,512)
PROVISIONS
( 319)
( 2,792)
------------
---------
NET LIABILITIES
( 1,002,250)
( 988,783)
------------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 1,002,350)
( 988,883)
------------
---------
SHAREHOLDERS DEFICIT
( 1,002,250)
( 988,783)
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
RESOLUTE (LEEDS) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 August 2024
For the year ending 29 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 May 2025 , and are signed on behalf of the board by:
S Allison
Director
Company registration number: 10994569
RESOLUTE (LEEDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 29 AUGUST 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1-5 Springfield Mount, Leeds, West Yorkshire, LS2 9NG, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have been prepared on the going concern basis. The directors consider the going concern basis to be appropriate as they have confirmed their ongoing financial support of the company.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the LLP in respect of rents receivable, exclusive of Value Added Tax.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its open market value at each reporting date and any changes in value are recognised in the statement of income and retained earnings.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. 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 before operating profit.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. TAX ON (LOSS)/PROFIT
Major components of tax income
2024
2023
£
£
Current tax:
UK current tax expense
1,541
Adjustments in respect of prior periods
( 1,273)
Corporation tax refund
( 1,541)
-------
-------
Total current tax
( 1,541)
268
-------
-------
Deferred tax:
Origination and reversal of timing differences
( 2,473)
( 1,860)
-------
-------
Tax on (loss)/profit
( 4,014)
( 1,592)
-------
-------
6. INTANGIBLE ASSETS
Goodwill
£
Cost
At 30 August 2023 and 29 August 2024
1,189,123
------------
Amortisation
At 30 August 2023
1,172,323
Charge for the year
2,400
------------
At 29 August 2024
1,174,723
------------
Carrying amount
At 29 August 2024
14,400
------------
At 29 August 2023
16,800
------------
7. TANGIBLE ASSETS
Investment property
Fixtures and fittings
Total
£
£
£
Cost
At 30 August 2023
280,000
31,456
311,456
Additions
35,518
35,518
---------
--------
---------
At 29 August 2024
280,000
66,974
346,974
---------
--------
---------
Depreciation
At 30 August 2023
16,761
16,761
Charge for the year
10,854
10,854
---------
--------
---------
At 29 August 2024
27,615
27,615
---------
--------
---------
Carrying amount
At 29 August 2024
280,000
39,359
319,359
---------
--------
---------
At 29 August 2023
280,000
14,695
294,695
---------
--------
---------
The market value of the investment property held as at 29th August 2024 has been calculated by the directors, and has been valued at open market value.
8. INVESTMENTS
Unlisted
£
Cost
At 30 August 2023
1
Disposals
( 1)
----
At 29 August 2024
----
Impairment
At 30 August 2023 and 29 August 2024
----
Carrying amount
At 29 August 2024
----
At 29 August 2023
1
----
Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
9. DEBTORS
2024
2023
£
£
Trade debtors
63,520
61,129
Other debtors
22,108
78,314
--------
---------
85,628
139,443
--------
---------
10. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
42,136
41,200
Trade creditors
76,866
110,788
Corporation tax
1,541
Social security and other taxes
22,263
14,891
Amounts due to related companies
676,235
626,788
Other creditors
650,077
660,294
------------
------------
1,467,577
1,455,502
------------
------------
11. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,500
50,512
-------
--------
12. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
195,000
Later than 1 year and not later than 5 years
585,000
---------
----
780,000
---------
----