Company Registration No. 09422622 (England and Wales)
Re-solution Data Ltd
Unaudited Financial Statements
for the period from 1 March 2019 to 28 February 2020
Re-solution Data Ltd
Unaudited Financial Statements
Contents
Re-solution Data Ltd
Company Information
for the period from 1 March 2019 to 28 February 2020
Directors
Tom Mark Giembicki
Sean Paul Draper
Company Number
09422622 (England and Wales)
Registered Office
Lincoln Suite, 2nd Floor, Amba House
15 College Road
Harrow
Middlesex
HA1 1BA
Accountants
Pro - AccX
58 Applegarth Avenue
Guildford
Surrey
GU2 8LY
Re-solution Data Ltd
Statement of financial position
as at 28 February 2020
Intangible assets
4,500
22,489
Tangible assets
4,433
6,312
Cash at bank and in hand
79,661
104,368
Creditors: amounts falling due within one year
(53,922)
(33,624)
Net current assets
140,150
135,612
Net assets
149,083
164,413
Called up share capital
100
100
Profit and loss account
148,983
164,313
Shareholders' funds
149,083
164,413
For the period ending 28 February 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2020 and were signed on its behalf by
Tom Mark Giembicki
Director
Company Registration No. 09422622
Re-solution Data Ltd
Notes to the Accounts
for the period from 1 March 2019 to 28 February 2020
Re-solution Data Ltd is a private company, limited by shares, registered in England and Wales, registration number 09422622. The registered office is Lincoln Suite, 2nd Floor, Amba House, 15 College Road, Harrow, Middlesex, HA1 1BA.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
These finantial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statement are rounded to the nearest pound.
The directors have considered the impact of Covid-19 and have taken appropriate measures to ensure that the company can continue trading as a going concern. The directors have taken steps to reduce the overheads and they have also accessed available government support.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets are included at cost less accumulated amortisation.
The asset is amortised to profit and loss account over its estimated economic life of 10 years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line basis
Fixtures & fittings
33% reducing balance basis
Computer equipment
33% reducing balance basis
Re-solution Data Ltd
Notes to the Accounts
for the period from 1 March 2019 to 28 February 2020
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.
The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
The tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Rentals payable under operationg leases, including any lease incentives received, are charged to income on a straight lin basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
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Intangible fixed assets
Other
At 28 February 2019
22,489
Re-solution Data Ltd
Notes to the Accounts
for the period from 1 March 2019 to 28 February 2020
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2019
-
7,588
9,959
17,547
Disposals
-
(743)
(4,368)
(5,111)
At 28 February 2020
2,135
6,845
5,591
14,571
At 1 March 2019
-
5,858
5,377
11,235
Charge for the period
712
634
1,470
2,816
On disposals
-
(645)
(3,268)
(3,913)
At 28 February 2020
712
5,847
3,579
10,138
At 28 February 2020
1,423
998
2,012
4,433
At 28 February 2019
-
1,730
4,582
6,312
Trade debtors
41,810
38,678
Accrued income and prepayments
26,752
26,190
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Creditors: amounts falling due within one year
2020
2019
Taxes and social security
51,546
31,478
Other creditors
1,200
2,146
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Re-solution Data Ltd
Notes to the Accounts
for the period from 1 March 2019 to 28 February 2020
9
Operating lease commitments
2020
2019
At 28 February 2020 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
25,000
30,000
Within two to five years
-
25,000
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Transactions with related parties
T Giembicki, a director of the company, was paid dividends of £79,830 (2019: £45,901) during the year. As at the year end the director owed £10,404 (2019: £603 due to the director) to the company. This balance is included in other debtors and will be cleared within nine months after the year end.
S Draper, a director of the company, was paid dividends of £76,700 (2019: £44,100) during the year. As at the year end the director owed £35,446 (2019: £1,544 due to the director) to the company. This balance is included in other debtors and will be cleared within nine months after the year end.
The ultimate controlling party is T Giembicki, a director of the company, by virtue of his majority shareholding.
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Average number of employees
During the period the average number of employees was 4 (2019: 5).
