Resourceful Land Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08321281 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2020 to 30 March 2021

for

Resourceful Land Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

G Keegan

SECRETARY:

REGISTERED OFFICE:

36 Spital Square

4th Floor

London

E1 6DY

REGISTERED NUMBER:

08321281 (England and Wales)

ACCOUNTANTS:

OCL Accountancy

141 Englishcombe Lane

Bath

BA2 2EL

FIXED ASSETS

Tangible assets

4

242,841

242,841

CURRENT ASSETS

Debtors

5

697,446

76,648

Cash at bank

-

6

697,446

76,654

CREDITORS

Amounts falling due within one year

6

2,045,624

2,054,567

NET CURRENT LIABILITIES

(1,348,178

)

(1,977,913

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,105,337

)

(1,735,072

)

CAPITAL AND RESERVES

Called up share capital

6

6

Retained earnings

(1,105,343

)

(1,735,078

)

SHAREHOLDERS' FUNDS

(1,105,337

)

(1,735,072

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 2021 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 June 2022 and were signed by:

G Keegan - Director

1.	STATUTORY INFORMATION

Resourceful Land 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.

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.

Tangible fixed assets

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

Land and buildings - Depreciation will be considered when the development has been completed.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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 period was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 April 2020

and 30 March 2021

242,841

NET BOOK VALUE

At 30 March 2021

242,841

At 31 March 2020

242,841

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.3.21

31.3.20

£

£

Amounts owed by participating interests

620,798

-

Other debtors

76,648

76,648

697,446

76,648

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.3.21

31.3.20

£

£

Bank loans and overdrafts

13

-

Amounts owed to participating interests

-

3,877

Other creditors

2,045,611

2,050,690

2,045,624

2,054,567

7.	GOING CONCERN

The director believes that the Company has the necessary financial support to continue in operational existence for the foreseeable future. For this reason he continues to adopt the going concern basis in producing accounts.

8.	LAND REMEDIATION WORKS

No works have taken place, the director has agreed to write the accrual from 2018 of £1,500,000 back.