Rotary Engineering UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04648787 (England and Wales)

ROTARY ENGINEERING UK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Fennell

S B Swallow

I G Walker

J Green

SECRETARY:

R Fennell

REGISTERED OFFICE:

Finestra Building

Old Lane

Halfway

Sheffield

South Yorkshire

S20 3GZ

REGISTERED NUMBER:

04648787 (England and Wales)

BANKERS:

The Royal Bank of Scotland

Church Street Branch

5 Church Street

Sheffield

South Yorkshire

S1 1HF

FIXED ASSETS

Tangible assets

4

890,020

870,453

CURRENT ASSETS

Stocks

39,211

31,642

Debtors

394,065

411,114

Cash at bank and in hand

71,733

63,208

505,009

505,964

CREDITORS

Amounts falling due within one year

281,594

205,780

NET CURRENT ASSETS

223,415

300,184

TOTAL ASSETS LESS CURRENT LIABILITIES

1,113,435

1,170,637

CREDITORS

Amounts falling due after more than one year

5

(275,508

)

(303,093

)

PROVISIONS FOR LIABILITIES

(10,081

)

(10,081

)

NET ASSETS

827,846

857,463

CAPITAL AND RESERVES

Called up share capital

80,000

80,000

Revaluation reserve

7

176,436

176,436

Retained earnings

571,410

601,027

SHAREHOLDERS' FUNDS

827,846

857,463

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 23 April 2019 and were signed on its behalf by:

S B Swallow - Director

1.	STATUTORY INFORMATION

Rotary Engineering UK 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

10% - 33% on cost

No depreciation is provided on land and buildings as the residual value is greater than the cost stated in the

accounts.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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 year 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Government grants

Grants received in respect of trading expenditure are credited to the profit and loss account to match against the

costs to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2018 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 February 2018

1,068,295

Additions

40,070

At 31 January 2019

1,108,365

DEPRECIATION

At 1 February 2018

197,842

Charge for year

20,503

At 31 January 2019

218,345

NET BOOK VALUE

At 31 January 2019

890,020

At 31 January 2018

870,453

Cost or valuation at 31 January 2019 is represented by:

Totals

£

Valuation in 2012

161,517

Valuation in 2015

25,000

Cost

921,848

1,108,365

If freehold land and buildings had not been revalued they would have been included at the following historical

cost:

2019

2018

£

£

Cost

588,483

588,483

Value of land in freehold land and buildings

175,000

175,000

Freehold property was valued on an open market basis on 11 March 2014 by Mark Jenkinson & Son, Chartered Surveyors

.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST OR VALUATION

At 1 February 2018

and 31 January 2019

19,500

DEPRECIATION

At 1 February 2018

3,251

Charge for year

1,950

At 31 January 2019

5,201

NET BOOK VALUE

At 31 January 2019

14,299

At 31 January 2018

16,249

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2019

2018

£

£

Repayable by instalments

Bank loans

163,956

184,540

6.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

273,507

294,030

The bank loan is secured by a first legal mortgage over the company's freehold property.

7.

RESERVES

Revaluation

reserve

£

At 1 February 2018

and 31 January 2019

176,436

8.	CONTROLLING PARTY

The company was controlled throughout the current and previous years by its directors by virtue of their

combined 100% holding in its issued ordinary share capital.