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COMPANY REGISTRATION NUMBER: SC744601
RES Facilities Limited
Filleted Unaudited Financial Statements
30 September 2024
RES Facilities Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
RES Facilities Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of RES Facilities Limited
Year ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RES Facilities Limited for the year ended 30 September 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of RES Facilities Limited. Our work has been undertaken solely to prepare for your approval the financial statements of RES Facilities Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RES Facilities Limited and its director for our work or for this report.
It is your duty to ensure that RES Facilities Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of RES Facilities Limited. You consider that RES Facilities Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of RES Facilities Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
24 June 2025
RES Facilities Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Current assets
Stocks
28,846
Debtors
4
277,967
2,083
Cash at bank and in hand
100
100
---------
--------
278,067
31,029
Creditors: amounts falling due within one year
5
280,320
32,929
---------
--------
Net current liabilities
2,253
1,900
-------
-------
Total assets less current liabilities
( 2,253)
( 1,900)
-------
-------
Net liabilities
( 2,253)
( 1,900)
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 2,353)
( 2,000)
-------
-------
Shareholders deficit
( 2,253)
( 1,900)
-------
-------
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 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.
Director's 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 director acknowledges his 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 24 June 2025 , and are signed on behalf of the board by:
Mr G MacCulloch
Director
Company registration number: SC744601
RES Facilities Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 23 Royal Exchange Square, Glasgow, G1 3AJ.
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.
Going concern
The company is reliant on the support of the director and his related party companies in order to continue in operational existence and meet its liabilities as they fall due. The director is satisfied that the company will continue to be supported and as such the going concern basis is appropriate for the preparation of the accounts.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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 in equity, respectively. 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. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instruments is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Debtors
2024
2023
£
£
Prepayments and accrued income
13,609
Other debtors
264,358
2,083
---------
-------
277,967
2,083
---------
-------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
1,000
19,198
Other creditors
279,320
13,731
---------
--------
280,320
32,929
---------
--------
6. Related party transactions
As at the period end, £ 279,320 was due to a related party (2023: £13,731). As at the period end, £ 263,230 was due from a related party (2023: £nil). These amounts are unsecured, interest free and repayable on demand.
7. Controlling party
Mr G MacCulloch , director, is the controlling party by virtue of his shareholding.