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REGISTERED NUMBER: 12420012 (England and Wales)















RESOURCE R11 LIMITED

Unaudited Financial Statements

for the Year Ended 30 November 2024






RESOURCE R11 LIMITED (REGISTERED NUMBER: 12420012)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RESOURCE R11 LIMITED

Company Information
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: C Bryan





SECRETARY: P G Hannah





REGISTERED OFFICE: C/o Resource Limited
The Maltings
East Tyndall Street
Cardiff
County of Cardiff
CF24 5EA





REGISTERED NUMBER: 12420012 (England and Wales)





ACCOUNTANTS: MHA (trading name of MHA Advisory Ltd)
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

RESOURCE R11 LIMITED (REGISTERED NUMBER: 12420012)

Balance Sheet
30 NOVEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 174 593
Investment property 5 287,975 287,975
288,149 288,568

CURRENT ASSETS
Debtors 6 6,157 4,596
Cash at bank 76 48
6,233 4,644
CREDITORS
Amounts falling due within one year 7 (652,014 ) (575,452 )
NET CURRENT LIABILITIES (645,781 ) (570,808 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(357,632

)

(282,240

)

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings (357,633 ) (282,241 )
SHAREHOLDERS' FUNDS (357,632 ) (282,240 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2025 and were signed by:





C Bryan - Director


RESOURCE R11 LIMITED (REGISTERED NUMBER: 12420012)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2024


1. STATUTORY INFORMATION

Resource R11 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.

The company's functional presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102.

GOING CONCERN
As at 30 November 2024 there were net liabilities of £357,632 and net current liabilities of £645,781. The director considers the going concern basis adopted for these financial statement to be appropriate, based upon available continued support.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33.33% on cost

INVESTMENT PROPERTY
Investment properties are carried at fair value. Revaluation surpluses and deficits are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold, or the deferred tax liability is settled.

TAXATION
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

RESOURCE R11 LIMITED (REGISTERED NUMBER: 12420012)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 December 2023
and 30 November 2024 6,748
DEPRECIATION
At 1 December 2023 6,155
Charge for year 419
At 30 November 2024 6,574
NET BOOK VALUE
At 30 November 2024 174
At 30 November 2023 593

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023
and 30 November 2024 287,975
NET BOOK VALUE
At 30 November 2024 287,975
At 30 November 2023 287,975

The investment property was valued on a fair value basis at 30 November 2024 by the directors. In valuing the property the directors have considered future anticipated rental yields.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 435 128
Prepayments and accrued income 5,722 4,468
6,157 4,596

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,469 13,266
Amounts owed to related parties 604,479 511,879
Accruals and deferred income 44,066 50,307
652,014 575,452

RESOURCE R11 LIMITED (REGISTERED NUMBER: 12420012)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Secured loan 460,829 460,829

The above loan is secured by way of a fixed and floating charge over the company's property. The loan is included within amounts owed to related parties.

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

10. RELATED PARTY DISCLOSURES

At 30 November 2024 the following related party loan balances existed:

20242023
£   £   
Other related parties
Creditors: Amounts falling due within one year (amounts owed to related
parties)

143,650


511,879

No interest has been charged on the above loans during 2024.