Company Registration No. 09422622 (England and Wales)
Re-solution Data Ltd
Unaudited Financial Statements
for the period from 29 February 2020 to 28 February 2021
Re-solution Data Ltd
Unaudited Financial Statements
Contents
Re-solution Data Ltd
Company Information
for the period from 29 February 2020 to 28 February 2021
Directors
Tom Mark Giembicki
Sean Paul Draper
Company Number
09422622 (England and Wales)
Registered Office
167-169 Great Portland Street
London
W1W 5PF
England
Accountants
Pro-AccX
58 Applegarth Avenue
Guildford
Surrey
GU2 8LY
Re-solution Data Ltd
Statement of financial position
as at 28 February 2021
Intangible assets
4,000
4,500
Tangible assets
3,368
4,433
Cash at bank and in hand
233,693
79,661
Creditors: amounts falling due within one year
(128,240)
(53,922)
Net current assets
194,441
140,150
Net assets
201,809
149,083
Called up share capital
100
100
Profit and loss account
201,709
148,983
Shareholders' funds
201,809
149,083
For the period ending 28 February 2021 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 24 September 2021 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 29 February 2020 to 28 February 2021
Re-solution Data Ltd is a private company, limited by shares, registered in England and Wales, registration number 09422622. The registered office is 167-169 Great Portland Street, London, W1W 5PF, England.
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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 financial statements have been prepared under the historical cost convention.
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.
These financial statements are prepared on a going concern basis. The directors have considered the impact that Covid-19 will have on the business and have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The directors believe that the company will have sufficient funds to settle all its liabilities as they fall due for at least 12 months from signing the accounts.
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 29 February 2020 to 28 February 2021
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.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are included in the profit and loss account for the period.
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Intangible fixed assets
Other
Re-solution Data Ltd
Notes to the Accounts
for the period from 29 February 2020 to 28 February 2021
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 29 February 2020
2,135
6,845
5,591
14,571
At 28 February 2021
3,109
6,845
5,591
15,545
At 29 February 2020
712
5,847
3,579
10,138
Charge for the period
1,036
333
670
2,039
At 28 February 2021
1,748
6,180
4,249
12,177
At 28 February 2021
1,361
665
1,342
3,368
At 28 February 2020
1,423
998
2,012
4,433
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Debtors: amounts falling due within one year
2021
2020
Trade debtors
35,433
41,810
Accrued income and prepayments
42,734
26,752
Other debtors
10,821
45,849
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Creditors: amounts falling due within one year
2021
2020
Trade creditors
17,615
1,176
Taxes and social security
75,739
51,546
Other creditors
34,886
1,200
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Transactions with related parties
During the year, dividends of £177,000 (2020: £156,530) were paid to the directors of the company.
Included within other debtors is the amount of £9,753 (2020: £35,446) owed to the company by S Draper, the company director. This balance will be cleared within nine months after the year-end.
Included within other creditors is the amount of £18,637 (2020: £10,404 due to the company) owed by the company to T Giembicki, the company director.
Re-solution Data Ltd
Notes to the Accounts
for the period from 29 February 2020 to 28 February 2021
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 (2020: 4).
