REGISTERED NUMBER: 02458944

RESOURCE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P G Hannah

P Postle

S F Allison

W G Oram

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:

02458944

ACCOUNTANTS:

MHA (trading name of MHA Advisory Ltd)

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Tangible assets

4

252,650

274,998

CURRENT ASSETS

Debtors

5

2,192,210

2,009,436

Cash at bank

2,617

2,687

2,194,827

2,012,123

CREDITORS

Amounts falling due within one year

6

(882,192

)

(2,716,190

)

NET CURRENT ASSETS/(LIABILITIES)

1,312,635

(704,067

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,565,285

(429,069

)

CREDITORS

Amounts falling due after more than one year

7

(63,702

)

(122,168

)

NET ASSETS/(LIABILITIES)

1,501,583

(551,237

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

1,501,483

(551,337

)

SHAREHOLDERS' FUNDS

1,501,583

(551,237

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

P Postle - Director

1.	STATUTORY INFORMATION

Resource 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 and 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 to all years presented 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.

There have been no material departures from Financial Reporting Standard 102 Section 1A.

Turnover

Turnover represents the value of services provided, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computers

- 25% - 50% straight line

Motor vehicles

- 20% - 50% straight line

Office equipment

- 25% straight line

All fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Debtors and creditors receivable / payable within one year

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 in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Office

Motor

Computer

equipment

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

134,540

376,333

71,069

581,942

Additions

-

87,400

8,856

96,256

At 31 December 2024

134,540

463,733

79,925

678,198

DEPRECIATION

At 1 January 2024

129,344

111,560

66,040

306,944

Charge for year

4,010

108,322

6,272

118,604

At 31 December 2024

133,354

219,882

72,312

425,548

NET BOOK VALUE

At 31 December 2024

1,186

243,851

7,613

252,650

At 31 December 2023

5,196

264,773

5,029

274,998

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

326,685

543,531

Other debtors

5,988

71,766

Prepayments and accrued income

1,770,096

1,261,509

2,102,769

1,876,806

Amounts falling due after more than one year:

Deferred tax asset

89,441

132,630

Aggregate amounts

2,192,210

2,009,436

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

112,028

83,963

Trade creditors

37,473

54,592

Social security and other taxes

50,449

51,887

VAT

153,840

21,728

Other creditors

31,568

10,933

Amounts due to related company

228,298

2,408,950

Accruals and deferred income

268,536

84,137

882,192

2,716,190

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

63,702

122,168

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

175,730

206,131

The bank overdraft is secured by a fixed and floating charge over all the assets of the company. It is repayable on demand.

The hire purchase contracts are secured on the specific assets to which they relate.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

10.	RELATED PARTY DISCLOSURES

The related company loan shown in note 7 is interest free.