Rotary Engineering UK Limited - Accounts to registrar (filleted) - small 18.2
Rotary Engineering UK Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| ROTARY ENGINEERING UK LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| ROTARY ENGINEERING UK LIMITED (REGISTERED NUMBER: 04648787) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ROTARY ENGINEERING UK LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| BANKERS: |
| Church Street Branch |
| 5 Church Street |
| Sheffield |
| South Yorkshire |
| S1 1HF |
| ROTARY ENGINEERING UK LIMITED (REGISTERED NUMBER: 04648787) |
| BALANCE SHEET |
| 31 JANUARY 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| ROTARY ENGINEERING UK LIMITED (REGISTERED NUMBER: 04648787) |
| BALANCE SHEET - continued |
| 31 JANUARY 2020 |
| 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 and authorised for issue on signed on its behalf by: |
| ROTARY ENGINEERING UK LIMITED (REGISTERED NUMBER: 04648787) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 1. | STATUTORY INFORMATION |
| Rotary Engineering UK Limited is a |
| 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 |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| 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. |
| ROTARY ENGINEERING UK LIMITED (REGISTERED NUMBER: 04648787) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 February 2019 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 January 2020 |
| DEPRECIATION |
| At 1 February 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 January 2020 |
| NET BOOK VALUE |
| At 31 January 2020 |
| At 31 January 2019 |
| Cost or valuation at 31 January 2020 is represented by: |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Valuation in 2012 | 161,517 | - | 161,517 |
| Valuation in 2015 | 25,000 | - | 25,000 |
| Cost | 588,483 | 318,749 | 907,232 |
| 775,000 | 318,749 | 1,093,749 |
| ROTARY ENGINEERING UK LIMITED (REGISTERED NUMBER: 04648787) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| If freehold land and buildings had not been revalued they would have been included at the following historical |
| cost: |
| 2020 | 2019 |
| £ | £ |
| 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: |
| Plant and |
| machinery |
| etc |
| £ |
| COST OR VALUATION |
| At 1 February 2019 |
| and 31 January 2020 |
| DEPRECIATION |
| At 1 February 2019 |
| Charge for year |
| Reclassification/transfer |
| At 31 January 2020 |
| NET BOOK VALUE |
| At 31 January 2020 |
| At 31 January 2019 |
| 5. | STOCKS |
| 2020 | 2019 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Other debtors include a deferred tax asset of £17,138 (2019: £21,064) in respect of tax losses expected to reverse |
| in the foreseeable future. |
| ROTARY ENGINEERING UK LIMITED (REGISTERED NUMBER: 04648787) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2020 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans | 140,769 | 163,956 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| The bank loan is secured by a first legal mortgage over the company's freehold property. |
| 10. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 February 2019 |
| and 31 January 2020 |
| 11. | 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. |