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Unaudited Financial Statements for the Year Ended 30 April 2017 |
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Resolving Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 April 2017 |
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for |
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Resolving Limited |
Resolving Limited (Registered number: 08021550) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2017 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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Resolving Limited (Registered number: 08021550) |
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Balance Sheet |
30 April 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 | 1,000 | 1,000 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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Resolving Limited (Registered number: 08021550) |
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Balance Sheet - continued |
30 April 2017 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Resolving Limited (Registered number: 08021550) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2017 |
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1. | STATUTORY INFORMATION |
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Resolving Limited is a private company, limited by shares, registered in England and Wales. |
The company's registered number is 08021550 and registered office address is Treviot House, 186-192 High |
Road, Ilford, Essex, IG1 1LR. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the Companies Act 2006. |
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Turnover |
Turnover represents the net invoice value, excluding value added tax, of sales relating to the year. |
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Development costs |
Amortisation is provided on a straight line basis over 3 years in order to write off the cost less estimated residual |
value of the asset over its estimated useful life. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Going concern |
The company has incurred losses in the last two consecutive years. However, the directors believe sufficient |
financial resources are available to the company to enable it to continue trading into the foreseeable future. |
Therefore, the financial statements have been prepared on a going concern basis. |
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Investments |
Fixed asset investments are stated at cost less provision for permanent diminution in value. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Resolving Limited (Registered number: 08021550) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1 May 2016 |
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Additions |
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At 30 April 2017 |
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AMORTISATION |
At 1 May 2016 |
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Charge for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 May 2016 |
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Additions |
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At 30 April 2017 |
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DEPRECIATION |
At 1 May 2016 |
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Charge for year |
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At 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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Resolving Limited (Registered number: 08021550) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 May 2016 |
and 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Amounts owed to related parties |
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Taxation and social security |
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Other creditors |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 April 2017 and |
30 April 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The loan to the director is repayable on demand. Interest is charged on loans at the official rate set by HMRC. |
Resolving Limited (Registered number: 08021550) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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10. | SHARE CAPITAL |
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On 13th March 2017 convertible loans totalling £1,100,000 were converted into shares at share premium of |
£1.01 per share. These shares rank pari passu with the existing shares. |
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The company has the following number of ordinary shares issuable under share options; |
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Share scheme |
Date of Grant |
Number of
Ordinary Shares Under Option |
Exercise Price |
Exercise Period |
Enterprise Management Incentives |
30/01/2015 |
390,000 |
£0.01 |
31/01/2016 -
31/01/2026 |
Enterprise Management Incentives |
10/03/2015 |
15,000 |
£0.01 |
11/03/2016 -
11/03/2026 |
Enterprise Management Incentives |
08/06/2015 |
10,000 |
£0.01 |
09/06/2016 -
09/06/2026 |
Enterprise Management Incentives |
21/09/2015 |
5,000 |
£0.01 |
22/09/2016 -
22/09/2026 |
Enterprise Management Incentives |
01/12/2015 |
15,000 |
£0.01 |
02/12/2016 -
02/12/2026 |
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Unapproved Share Option Scheme |
02/05/2015 |
15,000 |
£0.01 |
03/05/2016 -
03/05/2026 |
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11. | FIRST YEAR ADOPTION NOTE |
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There are no adjustments to be shown in a Reconciliation of Equity as at 1st May 2015 (date of transition to |
FRS102). |
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There are also no adjustments to be made in the Reconciliation of Equity as at 30th April 2016 or in the |
Reconciliation of Profit for the year ended 30tht April 2016, as a result of the transition to FRS102. |