REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
Rotom Cargo Pak Ltd |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
Rotom Cargo Pak Ltd |
Rotom Cargo Pak Ltd (Registered number: 06528791) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Rotom Cargo Pak Ltd |
Company Information |
for the year ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
81 Melton Road |
West Bridgford |
Nottingham |
Nottinghamshire |
NG2 6EN |
Rotom Cargo Pak Ltd (Registered number: 06528791) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium | 9 |
Retained earnings | 9 | ( |
) |
SHAREHOLDERS' FUNDS |
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 and authorised for issue on |
Rotom Cargo Pak Ltd (Registered number: 06528791) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Rotom Cargo Pak Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06528791, and the registered office is |
Unit 1 Dosco Industrial Estate |
Ollerton Road |
Tuxford |
Nottingham |
NG22 0PQ |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements are prepared on a going concern basis which assumes that the company will continue to trade for the foreseeable future. The directors consider this to be appropriate and in the interest of the shareholders. |
Functional currency |
The financial statements are prepared in Sterling (£) which is the functional currency of the company. |
Turnover |
Turnover represents net invoiced sales of goods, services supplied and rental of material handling equipment, and the value of work done, excluding value added tax. |
Tangible fixed assets |
Plant and machinery etc | - |
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 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. |
Rotom Cargo Pak Ltd (Registered number: 06528791) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
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. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Rotom Cargo Pak Ltd (Registered number: 06528791) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Included within trade debtors above is an amount of £752,677 (December 2022:£719,853) against which a factoring company had advanced funds of £247,242 (December 2022: £419,292) at the year end. |
Rotom Cargo Pak Ltd (Registered number: 06528791) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
Other creditors |
Accrued expenses and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Amounts owed to group undertakings |
8. | SECURED DEBTS |
At the year end an amount of £247,242 (December 2022: £419,292) was owed to a factoring company which was secured on the trade debtors of the company. In addition £598 (December 2022: £4,183) was owed to a finance company which was secured on the company motor vehicles. |
9. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 January 2023 | 69,546 |
Deficit for the year | ( |
) | ( |
) |
At 31 December 2023 | ( |
) | 3,759 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | OTHER FINANCIAL COMMITMENTS |
At the year end the company had the following lease commitments:- |
Payments due in | Less than one year | Two to five years |
Land and buildings | 88,933 | 154,706 |
Plant and machinery | 11,278 | 21,801 |
Rotom Cargo Pak Ltd (Registered number: 06528791) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
12. | ULTIMATE CONTROLLING PARTY |
Rotom Europe BV owns 100% (2022: 100%) of the share capital of this company. Rotom Europe BV is ultimately owned by Waterland Private Equity Fund VIII C.V. which is registered in The Netherlands. |
The smallest group into which Cargo Pak Limited's results will be consolidated is headed by Rotom Europe BV. Their registered address is Ekkersrijt 1428, Son en Breugel, 5692AK, Netherlands. |