Rotable Solutions Limited - Period Ending 2014-03-31

Registration number: 08434488

Rotable Solutions Limited

Unaudited Abbreviated Accounts

for the Period from 7 March 2013 to 31 March 2014

 

Andrews & O'Shea Ltd
Accountants
5 Kings Court
Harwood Road
Horsham
West Sussex
RH13 5UR

Rotable Solutions Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Rotable Solutions Limited
for the Period Ended 31 March 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rotable Solutions Limited for the period ended 31 March 2014 set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Rotable Solutions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Rotable Solutions Limited and state those matters that we have agreed to state to them, as a body, and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rotable Solutions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Rotable Solutions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Rotable Solutions Limited. You consider that Rotable Solutions Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Rotable Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Andrews & O'Shea Ltd
Accountants
5 Kings Court
Harwood Road
Horsham
West Sussex
RH13 5UR

16 March 2015

Page 1

Rotable Solutions Limited
(Registration number: 08434488)
Abbreviated Balance Sheet at 31 March 2014

		Note			31 March 2014 £
Fixed assets
Tangible fixed assets		2			4,978
Current assets
Debtors					112,539
Cash at bank and in hand					42,733
					155,272
Creditors: Amounts falling due within one year					(232,359)
Net current liabilities					(77,087)
Net liabilities					(72,109)
Capital and reserves
Called up share capital		3			1,000
Profit and loss account					(73,109)
Shareholders' deficit					(72,109)

For the year ending 31 March 2014 the company was entitled to exemption 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 6 March 2015

.........................................
S Woestelandt
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Rotable Solutions Limited
Notes to the Abbreviated Accounts for the Period from 7 March 2013 to 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The financial statements have been prepared on a going concern basis. The company's ability to trade is dependent upon the support of the director and the holding company. If this assumption proves to be inappropriate, then adjustments may have to be made to adjust the value of assets to their recoverable amounts, to provide for any further liabilities which might arise and to reclassify fixed assets as current assets.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sales of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% per annum on a reducing balance basis
Motor vehicles	25% per annum on a reducing balance basis
Office equipment	33% per annum on a straight line basis

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Rotable Solutions Limited
Notes to the Abbreviated Accounts for the Period from 7 March 2013 to 31 March 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		5,960			5,960
At 31 March 2014		5,960			5,960
Depreciation
Charge for the period		982			982
At 31 March 2014		982			982
Net book value
At 31 March 2014		4,978			4,978

3	Share capital

Allotted, called up and fully paid shares

	31 March 2014
		No.			£
Ordinary shares of £1 each		1,000			1,000

New shares allotted

During the period 1,000 Ordinary shares having an aggregate nominal value of £1,000 were allotted for an aggregate consideration of £1,000. The allotment was for the initial share capital of the company.

4

Control

The company is controlled by Geneva Management Corporation SA.

Page 4