ROTOWASH LIMITED Small abridged accounts

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of ROTOWASH LIMITED have consented to the preparation of the abridged income statement and the abridged statement of financial position for the year ending 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 06160994

ROTOWASH LIMITED

Filleted Unaudited Abridged Financial Statements

31 December 2018

ROTOWASH LIMITED

Abridged Financial Statements

Year ended 31 December 2018

Contents	Page

Abridged statement of financial position	1

Notes to the abridged financial statements	3

ROTOWASH LIMITED

Abridged Statement of Financial Position

31 December 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	4		51,987	65,547

Current assets

Stocks	221,699	220,281
Debtors	552,937	320,803
Cash at bank and in hand	201,725	355,809
	---------	---------
	976,361	896,893

Creditors: amounts falling due within one year	584,905		441,045
	---------		---------
Net current assets		391,456	455,848
		---------	---------
Total assets less current liabilities		443,443	521,395
		---------	---------
Net assets		443,443	521,395
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	443,343	521,295
	---------	---------
Members funds	443,443	521,395
	---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged income statement has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

ROTOWASH LIMITED

Abridged Statement of Financial Position (continued)

31 December 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 27 August 2019 , and are signed on behalf of the board by:

Mr Malcolm Keith Masters

Director

Company registration number: 06160994

ROTOWASH LIMITED

Notes to the Abridged Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Station Parade, Ealing Common, London, W5 3LD.

2. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings	-	25% reducing balance
Motor Vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

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

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. Employee numbers

The average number of persons employed by the company during the year, including the directors, amounted to 37 (2017: 39 ).

4. Tangible assets

	£
Cost
At 1 January 2018	227,906
Additions	3,769
	---------
At 31 December 2018	231,675
	---------
Depreciation
At 1 January 2018	162,359
Charge for the year	17,329
	---------
At 31 December 2018	179,688
	---------
Carrying amount
At 31 December 2018	51,987
	---------
At 31 December 2017	65,547
	---------

5. Related party transactions

The company was under the control of its directors; Mr J L Korski who is the chairman and Mr M K Masters throughout the current and previous year. All the shares of this company are held by Rotowash UK Limited. Mr J L Korski, the chairman, owns 100% of the parent company's share capital. During the year Rotowash UK Limited, the 100% parent of this company, charged the subsidiary £240,000 (2017: £232,000) for purchasing contract, management time and premises rental. At 31 December 2018 the amounts due to the parent company amounted to £34,183 (2017: £5,975). During the year the company made no purchases (2017: £Nil) from Rotowash Scandinavia APS. Rotowash Scandinavia APS is controlled by Mr J L Korski who is a director of this company. At 31 December 2018 the amounts owing to Rotowash Scandinavia APS amounted to £Nil (2017: £Nil). During the year the company made no purchases (2017: £Nil) from Rotowash Services Limited. Rotowash Services Limited is controlled by Mr J L Korski who is a director of this company. At 31 December 2018 the amounts owing from Rotowash Services Limited amounted to £Nil (2017: £Nil). All transactions between the company and Rotowash UK Limited, Rotowash Scandinavia APS and Rotowash Services Limited are at arms length and on commercial terms.

6. Controlling party

This company is a 100% subsidiary of Rotowash (UK) Limited a company incorporated in England. The parent company's Registration number at Companies House is 01567319.