ACCOUNTS - Final Accounts

An analysis of turnover by class of business is as follows:

Caseware UK (AP4) 2018.0.196 2018.0.196 2018-12-312018-05-012018-05-012018-05-012018-05-012018-05-012018-05-012018-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrueNo description of principal activityfalse2018-01-01 02155002 2018-01-01 2018-12-31 02155002 2017-01-01 2017-12-31 02155002 2018-12-31 02155002 2017-12-31 02155002 2017-01-01 02155002 1 2018-01-01 2018-12-31 02155002 1 2017-01-01 2017-12-31 02155002 5 2018-01-01 2018-12-31 02155002 5 2017-01-01 2017-12-31 02155002 d:Director1 2018-01-01 2018-12-31 02155002 d:Director1 2018-12-31 02155002 d:Director2 2018-01-01 2018-12-31 02155002 d:Director2 2018-12-31 02155002 d:Director3 2018-01-01 2018-12-31 02155002 d:Director3 2018-12-31 02155002 d:RegisteredOffice 2018-01-01 2018-12-31 02155002 e:Buildings 2018-01-01 2018-12-31 02155002 e:Buildings 2018-12-31 02155002 e:Buildings 2017-12-31 02155002 e:Buildings e:OwnedOrFreeholdAssets 2018-01-01 2018-12-31 02155002 e:PlantMachinery 2018-01-01 2018-12-31 02155002 e:PlantMachinery 2018-12-31 02155002 e:PlantMachinery 2017-12-31 02155002 e:PlantMachinery e:OwnedOrFreeholdAssets 2018-01-01 2018-12-31 02155002 e:MotorVehicles 2018-01-01 2018-12-31 02155002 e:MotorVehicles 2018-12-31 02155002 e:MotorVehicles 2017-12-31 02155002 e:MotorVehicles e:OwnedOrFreeholdAssets 2018-01-01 2018-12-31 02155002 e:OwnedOrFreeholdAssets 2018-01-01 2018-12-31 02155002 e:CurrentFinancialInstruments 2018-12-31 02155002 e:CurrentFinancialInstruments 2017-12-31 02155002 e:CurrentFinancialInstruments e:WithinOneYear 2018-12-31 02155002 e:CurrentFinancialInstruments e:WithinOneYear 2017-12-31 02155002 e:ReportableOperatingSegment1 2018-01-01 2018-12-31 02155002 e:ReportableOperatingSegment1 2017-01-01 2017-12-31 02155002 f:UnitedKingdom 2018-01-01 2018-12-31 02155002 f:UnitedKingdom 2017-01-01 2017-12-31 02155002 f:RestEuropeOutsideUK 2018-01-01 2018-12-31 02155002 f:RestEuropeOutsideUK 2017-01-01 2017-12-31 02155002 f:RestWorldOutsideUK 2018-01-01 2018-12-31 02155002 f:RestWorldOutsideUK 2017-01-01 2017-12-31 02155002 e:UKTax 2018-01-01 2018-12-31 02155002 e:UKTax 2017-01-01 2017-12-31 02155002 e:ShareCapital 2018-12-31 02155002 e:ShareCapital 2017-12-31 02155002 e:ShareCapital 2017-01-01 02155002 e:RetainedEarningsAccumulatedLosses 2018-01-01 2018-12-31 02155002 e:RetainedEarningsAccumulatedLosses 2018-12-31 02155002 e:RetainedEarningsAccumulatedLosses 2017-01-01 2017-12-31 02155002 e:RetainedEarningsAccumulatedLosses 2017-12-31 02155002 e:RetainedEarningsAccumulatedLosses 2017-01-01 02155002 e:AcceleratedTaxDepreciationDeferredTax 2018-12-31 02155002 e:AcceleratedTaxDepreciationDeferredTax 2017-12-31 02155002 d:FRS102 2018-01-01 2018-12-31 02155002 d:Audited 2018-01-01 2018-12-31 02155002 d:FullAccounts 2018-01-01 2018-12-31 02155002 d:PrivateLimitedCompanyLtd 2018-01-01 2018-12-31 iso4217:GBP xbrli:pure

Registered number: 02155002

ROPLAN LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

ROPLAN LIMITED

COMPANY INFORMATION

Directors	Peter Schmid (appointed 1 May 2018)
	Ola Sparen (resigned 1 May 2018)
	Karl Forsberg (appointed 1 May 2018)


Registered number	02155002


Registered office	Prince Henry House
	Kingsclere Park
	Kingsclere
	RG20 4SW


Independent auditor	James Cowper Kreston
	Chartered Accountants and Statutory Auditor
	Mill House
	Overbridge Square
	Hambridge Lane
	Newbury
	RG14 5UX

ROPLAN LIMITED

CONTENTS

	Page
Directors' Report	1 - 2
Independent Auditor's Report	3 - 5
Statement of Comprehensive Income	6
Balance Sheet	7
Statement of Changes in Equity	8
Statement of Cash Flows	9 - 10
Notes to the Financial Statements	10 - 19

ROPLAN LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2018

The directors present their report and the financial statements for the year ended 31 December 2018.

Directors

The directors who served during the year were:

Peter Schmid (appointed 1 May 2018)

Ola Sparen (resigned 1 May 2018)

Karl Forsberg (appointed 1 May 2018)

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgements and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Auditor

The auditor, James Cowper Kreston, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 1

ROPLAN LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2018

This report was approved by the board on 3 April 2019 and signed on its behalf.

................................................

Karl Forsberg

Director

Page 2

ROPLAN LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE SHAREHOLDERS OF ROPLAN LIMITED

Opinion

We have audited the financial statements of Roplan Limited (the 'Company') for the year ended 31 December 2018, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 31 December 2018 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

∙the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

∙the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The directors are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's Report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

Page 3

ROPLAN LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE SHAREHOLDERS OF ROPLAN LIMITED (CONTINUED)

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

Page 4

ROPLAN LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE SHAREHOLDERS OF ROPLAN LIMITED (CONTINUED)

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Farwell MA FCA DChA (Senior Statutory Auditor)

for and on behalf of

James Cowper Kreston

Chartered Accountants and Statutory Auditor

Mill House

Overbridge Square

Hambridge Lane

Newbury

RG14 5UX

4 April 2019

Page 5

ROPLAN LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2018

	2018	2017
Note	£	£


Turnover		4,010,796	3,865,401
Cost of sales		(3,075,159)	(3,314,453)
Gross profit		935,637	550,948
Administrative expenses		(391,990)	(536,497)
Operating profit		543,647	14,451
Interest receivable and similar income		25	8
Profit before tax		543,672	14,459
Tax on profit	9	(104,407)	(2,695)
Profit for the financial year		439,265	11,764

There was no other comprehensive income for 2018 (2017:£NIL).

The notes on pages 10 to 19 form part of these financial statements.

Page 6

ROPLAN LIMITED

REGISTERED NUMBER: 02155002

BALANCE SHEET

AS AT 31 DECEMBER 2018

		2018		2017
Note		£		£

Fixed assets
Tangible assets	10		127,565		164,071
			127,565		164,071
Current assets
Stocks	11	758,880		549,386
Debtors: amounts falling due within one year	12	939,490		923,425
Cash at bank and in hand	13	913,319		558,549
		2,611,689		2,031,360
Creditors: amounts falling due within one year	14	(478,515)		(373,957)
Net current assets			2,133,174		1,657,403
Total assets less current liabilities			2,260,739		1,821,474

Net assets			2,260,739		1,821,474

Capital and reserves
Called up share capital	16	20,000	20,000
Profit and loss account	17	2,240,739	1,801,474
		2,260,739	1,821,474

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 April 2019.

................................................

Karl Forsberg

Director

The notes on pages 10 to 19 form part of these financial statements.

Page 7

ROPLAN LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2018

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2018	20,000	1,801,474	1,821,474
Comprehensive income for the year
Profit for the year	-	439,265	439,265
At 31 December 2018	20,000	2,240,739	2,260,739

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2017

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2017	20,000	1,789,710	1,809,710
Comprehensive income for the year
Profit for the year	-	11,764	11,764
At 31 December 2017	20,000	1,801,474	1,821,474

The notes on pages 10 to 19 form part of these financial statements.

Page 8

ROPLAN LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2018

			2018	2017
			£	£

Cash flows from operating activities
Profit for the financial year	439,265	11,764
Adjustments for:
Depreciation of tangible assets	38,024	37,860
Loss on disposal of tangible assets	-	(10,219)
Interest received	(25)	(8)
Taxation charge	104,407	2,695
(Increase)/decrease in stocks	(209,494)	150,453
(Increase)/decrease in debtors	(82,707)	78,536
Decrease in amounts owed by groups	11,147	22,270
Increase/(decrease) in creditors	35,509	(74,690)
Increase in amounts owed to groups	20,137	5,027
Corporation tax received/(paid)	-	(43,718)
Net cash generated from operating activities	356,263	179,970

Cash flows from investing activities
Purchase of tangible fixed assets	(1,518)	(36,702)
Sale of tangible fixed assets	-	15,417
Interest received	25	8
Net cash from investing activities	(1,493)	(21,277)

Net increase in cash and cash equivalents	354,770	158,693
Cash and cash equivalents at beginning of year	558,549	399,856
Cash and cash equivalents at the end of year	913,319	558,549

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	913,319	558,549
	913,319	558,549

The notes on pages 10 to 19 form part of these financial statements.

Page 9

ROPLAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

1.	General information

Roplan Limited is a company limited by share capital and incorporated in England and Wales. The address of the registered office is Mill House, Overbridge Square, Hambridge Lane, Newbury, Berkshire RG14 5UX.
The principal activity of the company is the manufacture and distribution of shaft seals and rotating machinery.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 10

ROPLAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property	-	4%	per annum
Plant and machinery	-	20%	per annum
Motor vehicles	-	25%	per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 11

ROPLAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

2.Accounting policies (continued)

2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 12

ROPLAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

2.Accounting policies (continued)

2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and projected disposal values.
Taxation
The company establishes provisions based on reasonable estimates, for possible consequences of audits by the tax authorities. The amount of such provisions is based on various factors, such as experience with previous tax submissions. Management estimation is required to determine the amount of deferred tax assets that can be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies.
Stock provision
Provisions are estimated by the company in respect of specific stock items based upon the age and condition of the items and any known issues.

Page 13

ROPLAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Sales	4,010,796	3,865,401
	4,010,796	3,865,401

Analysis of turnover by country of destination:

					2018	2017
					£	£

United Kingdom	3,435,146	3,245,374
Rest of Europe	455,836	493,849
Rest of the world	119,814	126,178
	4,010,796	3,865,401

Research & development charged as an expense	100	9,294
Exchange differences	18,728	20,549
Other operating lease rentals	1,059	-

6.	Auditor's remuneration
		2018	2017
		£	£

Fees payable to the Company's auditor and its associates for the audit of the Company's annual financial statements

12,400

12,100

Page 14

ROPLAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

7.	Employees
		2018	2017
		£	£

Wages and salaries	201,719	328,869
Social security costs	28,107	45,669
Cost of defined contribution scheme	9,377	18,224
	239,203	392,762

The average monthly number of employees, including the directors, during the year was as follows:

	2018	2017
	No.	No.

Staff	9	11

8.	Directors' remuneration
		2018	2017
		£	£

Directors' emoluments	-	130,150
	-	130,150

Corporation tax
Current tax on profits for the year	109,132	4,085
	109,132	4,085

Total current tax	109,132	4,085

Deferred tax
Origination and reversal of timing differences	(4,725)	(1,390)
Total deferred tax	(4,725)	(1,390)


	Taxation on profit on ordinary activities	104,407	2,695

Page 15

ROPLAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

9.Taxation (continued)

Profit on ordinary activities before tax

543,672

14,459

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19.0% (2017 - 19.25%)	103,298	2,783
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	97	182
Capital allowances for year in excess of depreciation	-	797
Adjust opening deferred tax to average rate of 19.25%	532	(1,067)
Adjustments to tax charge in respect of prior periods	480	-
Total tax charge for the year	104,407	2,695

Page 16

ROPLAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

10.	Tangible fixed assets

	Freehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost or valuation
At 1 January 2018	383,984	74,384	77,350	535,718
Additions	-	1,518	-	1,518
At 31 December 2018	383,984	75,902	77,350	537,236
Depreciation
At 1 January 2018	273,279	63,014	35,354	371,647
Charge for the year on owned assets	15,360	5,822	16,842	38,024
At 31 December 2018	288,639	68,836	52,196	409,671
Net book value
At 31 December 2018	95,345	7,066	25,154	127,565
At 31 December 2017	110,705	11,370	41,996	164,071

11.	Stocks
		2018	2017
		£	£

Work in progress	5,468	7,013
Finished goods and goods for resale	753,412	542,373
	758,880	549,386

12.

Debtors

					2018	2017
					£	£


Trade debtors	911,451	825,443
Amounts owed by group undertakings	9,045	20,192
Other debtors	-	20,093
Prepayments and accrued income	8,237	51,665
Deferred taxation	10,757	6,032
	939,490	923,425

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ROPLAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

13.	Cash and cash equivalents
		2018	2017
		£	£

	Cash at bank and in hand	913,319	558,549

14.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Trade creditors	127,632	102,688
Amounts owed to group undertakings	182,294	162,157
Corporation tax	48,912	-
Other taxation and social security	101,237	91,922
Accruals and deferred income	18,440	17,190
	478,515	373,957

15.	Deferred taxation

	2018	2017
	£	£

At beginning of year	6,032	4,642
Charged to profit or loss	4,725	1,390
At end of year	10,757	6,032

The deferred tax asset is made up as follows:
	2018	2017
	£	£

	Accelerated capital allowances	10,757	6,032
		10,757	6,032

16.	Share capital
		2018	2017
		£	£

Allotted, called up and fully paid

20,000 (2017 - 20,000) Ordinary shares of £1.00 each	20,000	20,000

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ROPLAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

17.

Reserves

Profit and loss account

The profit and loss account represents the cumulative profit available for distribution to shareholders.

18.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £9,938 (2017 - £27,974) Contributions totalling £nil (2017 - £nil) were payable to the fund at the balance sheet date.

19.	Related party transactions
	The company is a wholly owned subsidary of Roplan Holding AB and forms part of the group headed by Velcora Holding AB. The company is exempt from disclosing related party transactions with other wholly owned members of the Velcora Holding AB group by virtue of the provisions of FRS 102 section 33A.

20.	Controlling party

The ultimate parent company is Velcora Holding AB, whose principal place of business is in Sweden. Velcora Holding AB holds 100% of the issued share capital of the group containing the company. Copies of the group financial statements are available at PO Box 120, 147 22, Tumba, Sweden.

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