ROTOWASH LIMITED

ROTOWASH LIMITED

ROTOWASH LIMITED - Company Information

Print Friendly Version

ROTOWASH LIMITED

Company Registration Number:
06160994 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2020

Period of accounts

Start date: 01 January 2020

End date: 31 December 2020

ROTOWASH LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2020

Balance sheet
Notes

ROTOWASH LIMITED

Balance sheet

As at 31 December 2020


Notes
2020
2019


£
£
Fixed assets
Tangible assets: 3 46,552 63,180
Total fixed assets: 46,552 63,180
Current assets
Stocks: 155,241 252,041
Debtors:   410,844 319,352
Cash at bank and in hand: 278,657 103,676
Total current assets: 844,742 675,069
Creditors: amounts falling due within one year:   (661,376) (599,574)
Net current assets (liabilities): 183,366 75,495
Total assets less current liabilities: 229,918 138,675
Total net assets (liabilities): 229,918 138,675
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 229,818 138,575
Shareholders funds: 229,918 138,675

The notes form part of these financial statements

ROTOWASH LIMITED

Balance sheet statements

For the year ending 31 December 2020 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 August 2021
and signed on behalf of the board by:

Name: Sheila Angela Cherchi
Status: Director

The notes form part of these financial statements

ROTOWASH LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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

Tangible fixed assets and depreciation policy

DepreciationDepreciation is calculated so as to write off the cost or valuation of an asset, less its residualvalue, over the useful economic life of that asset as follows:Fixtures & Fittings - 25% reducing balanceMotor Vehicles - 25% reducing balance

Valuation and information policy

Foreign currenciesForeign currency transactions are initially recorded in the functional currency, by applying thespot exchange rate as at the date of the transaction. Monetary assets and liabilities denominatedin foreign currencies are translated at the exchange rate ruling at the reporting date, with anygains or losses being taken to the profit and loss account.Tangible assetsTangible assets are initially recorded at cost, and subsequently stated at cost less anyaccumulated depreciation and impairment losses. Any tangible assets carried at revaluedamounts are recorded at the fair value at the date of revaluation less any subsequentaccumulated depreciation and subsequent accumulated impairment losses.An increase in the carrying amount of an asset as a result of a revaluation, is recognised in othercomprehensive income and accumulated in equity, except to the extent it reverses a revaluationdecrease of the same asset previously recognised in profit or loss. A decrease in the carryingamount of an asset as a result of revaluation, is recognised in other comprehensive income tothe extent of any previously recognised revaluation increase accumulated in equity in respect ofthat asset. Where a revaluation decrease exceeds the accumulated revaluation gainsaccumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.StocksStocks are value at the lower of cost and net realisable value, after making due allowance forobsolete and slow moving items.

Other accounting policies

Defined contribution plansContributions to defined contribution plans are recognised as an expense in the period in whichthe related service is provided. Prepaid contributions are recognised as an asset to the extentthat 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 thereporting date in which the employees render the related service, the liability is measured on adiscounted present value basis. The unwinding of the discount is recognised as a finance cost inprofit or loss in the period in which it arises.

ROTOWASH LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

2. Employees

2020 2019
Average number of employees during the period 32 37

ROTOWASH LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

3. Tangible Assets

Total
Cost £
At 01 January 2020 257,561
Additions 804
Disposals (6,055)
At 31 December 2020 252,310
Depreciation
At 01 January 2020 194,381
Charge for year 15,517
On disposals (4,140)
At 31 December 2020 205,758
Net book value
At 31 December 2020 46,552
At 31 December 2019 63,180

ROTOWASH LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2020

4. Related party transactions

Name of the related party: Rotowash UK Limited
Relationship:
Parent company
Description of the Transaction: During the year Rotowash UK Limited charged £267,000 (2019: £264,000) for purchasing contract, management time and premises rental.
£
Balance at 01 January 2020 72,472
Balance at 31 December 2020 2,439