Rotorsure Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01772895

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

ROTORSURE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J S Walker

M J Gamble

Mrs S J Chatterjee

C M Walker

SECRETARY:

Mrs J S Walker

REGISTERED OFFICE:

Riverside Works

Neepsend Lane

Sheffield

South Yorkshire

S3 8AU

REGISTERED NUMBER:

01772895

ACCOUNTANTS:

Hodgson & Oldfield

20 Paradise Square

Sheffield

S1 2DE

FIXED ASSETS

Tangible assets

4

650,005

650,005

CURRENT ASSETS

Debtors

5

20,441

19,280

Investments

6

200

200

Cash at bank and in hand

26,630

63,828

47,271

83,308

CREDITORS

Amounts falling due within one year

7

2,987

5,330

NET CURRENT ASSETS

44,284

77,978

TOTAL ASSETS LESS CURRENT LIABILITIES

694,289

727,983

CREDITORS

Amounts falling due after more than one year

8

(79,411

)

(103,805

)

PROVISIONS FOR LIABILITIES

(38,000

)

(38,000

)

NET ASSETS

576,878

586,178

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

9

315,930

315,930

Retained earnings

260,946

270,246

SHAREHOLDERS' FUNDS

576,878

586,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 March 2020 and were signed on its behalf by:

M J Gamble - Director

1.	STATUTORY INFORMATION

Rotorsure Limited is a private company, limited by shares , registered in Not specified/Other. 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.

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

Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

not provided (see policy note below)

Plant and machinery etc

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

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.

Freehold investment properties

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 " investment

properties are revalued annually and the aggregate surplus or deficit after taxation is transferred to a

fair value reserve. The Directors consider that this accounting policy results in the financial

statements giving a true and fair view. Depreciation is only one of the many factors reflected in the

annual valuation and the amount which might otherwise been shown cannot be separately identified

or quantified.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1 July 2018

and 30 June 2019

650,000

9,015

659,015

DEPRECIATION

At 1 July 2018

and 30 June 2019

-

9,010

9,010

NET BOOK VALUE

At 30 June 2019

650,000

5

650,005

At 30 June 2018

650,000

5

650,005

Cost or valuation at 30 June 2019 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2019

356,882

-

356,882

Cost

293,118

9,015

302,133

650,000

9,015

659,015

If freehold investment properties had not been revalued they would have been included at the

following historical cost:

30.6.19

30.6.18

£

£

Cost

293,118

293,118

Freehold investment properties were valued on an open market basis on 30 June 2019 by the directors

.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade debtors

14,655

15,819

Other debtors

5,786

3,461

20,441

19,280

6.	CURRENT ASSET INVESTMENTS

30.6.19

30.6.18

£

£

Unlisted investments

200

200

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade creditors

1,339

833

Taxation and social security

-

3,657

Other creditors

1,648

840

2,987

5,330

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.19

30.6.18

£

£

Other creditors

79,411

103,805

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Loan from Trust

79,411

103,805

9.

RESERVES

Fair

value

reserve

£

At 1 July 2018

and 30 June 2019

315,930

10.	ULTIMATE CONTROLLING PARTY

The whole of the ordinary share capital of Rotorsure Limited is owned by The Jean Susanna Walker

Discretionary Trust, of which Mrs J S Walker is a trustee.