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COMPANY REGISTRATION NUMBER: 07012879
Resolute Property Consultancy Ltd
Filleted Unaudited Financial Statements
30 September 2024
Resolute Property Consultancy Ltd
Balance Sheet
30 September 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
7,075
8,414
Current assets
Debtors
6
141,442
111,564
Cash at bank and in hand
121,075
14,186
---------
---------
262,517
125,750
Creditors: amounts falling due within one year
7
88,739
60,539
---------
---------
Net current assets
173,778
65,211
---------
--------
Total assets less current liabilities
180,853
73,625
Creditors: amounts falling due after more than one year
8
9,166
19,166
---------
--------
Net assets
171,687
54,459
---------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
171,685
54,457
---------
--------
Shareholders funds
171,687
54,459
---------
--------
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 comprehensive income (including profit and loss account) has not been delivered.
For the year ending 30 September 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 .
Resolute Property Consultancy Ltd
Balance Sheet (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 3 June 2025 , and are signed on behalf of the board by:
Mr M J Goulding
Director
Company registration number: 07012879
Resolute Property Consultancy Ltd
Notes to the Financial Statements
Year ended 30 September 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 58 Western Way, Alverstoke, Gosport, PO12 2NQ, 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Long leasehold property
-
10% straight line
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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. Tangible assets
Long leasehold property
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 October 2023
17,855
506
4,699
17,991
41,051
Additions
1,795
1,795
--------
----
-------
--------
--------
At 30 September 2024
17,855
506
4,699
19,786
42,846
--------
----
-------
--------
--------
Depreciation
At 1 October 2023
12,797
506
4,699
14,635
32,637
Charge for the year
1,786
1,348
3,134
--------
----
-------
--------
--------
At 30 September 2024
14,583
506
4,699
15,983
35,771
--------
----
-------
--------
--------
Carrying amount
At 30 September 2024
3,272
3,803
7,075
--------
----
-------
--------
--------
At 30 September 2023
5,058
3,356
8,414
--------
----
-------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
77,530
102,214
Other debtors
63,912
9,350
---------
---------
141,442
111,564
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,001
10,001
Trade creditors
465
5,428
Corporation tax
40,998
20,224
Social security and other taxes
35,789
22,713
Other creditors
1,486
2,173
--------
--------
88,739
60,539
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,166
19,166
-------
--------
9. Directors' advances, credits and guarantees
During the year, the loan to the directors was cleared by a dividend and further amounts advanced. As at 30 September 2024 £59,335 (2023 £5.317) was owed by the directors and will be repaid before 30 June 2025. The maximum owed by the director during the year was £59,335 at September 2024.