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REGISTERED NUMBER: 08600807 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Rotorsport Sales And Service Ltd

Rotorsport Sales And Service Ltd (Registered number: 08600807)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Rotorsport Sales And Service Ltd

Company Information
for the year ended 31 December 2023







DIRECTOR: G A Speich





SECRETARY: Mrs J E Speich





REGISTERED OFFICE: Poplar Farm Prolley Moor
Wentnor
Bishops Castle
Shropshire
SY9 5EJ





REGISTERED NUMBER: 08600807 (England and Wales)





ACCOUNTANTS: WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

Rotorsport Sales And Service Ltd (Registered number: 08600807)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 5,688 5,653

CURRENT ASSETS
Inventories 86,692 82,606
Debtors 5 128,896 3,413
Cash at bank and in hand 23,562 86,404
239,150 172,423
CREDITORS
Amounts falling due within one year 6 247,447 162,877
NET CURRENT (LIABILITIES)/ASSETS (8,297 ) 9,546
TOTAL ASSETS LESS CURRENT LIABILITIES (2,609 ) 15,199

PROVISIONS FOR LIABILITIES 2,303 2,500
NET (LIABILITIES)/ASSETS (4,912 ) 12,699

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7 (5,012 ) 12,599
SHAREHOLDERS' FUNDS (4,912 ) 12,699

Rotorsport Sales And Service Ltd (Registered number: 08600807)

Statement of Financial Position - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 19 September 2024 and were signed by:





G A Speich - Director


Rotorsport Sales And Service Ltd (Registered number: 08600807)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Rotorsport Sales And Service Ltd is a private company, limited by shares , registered in England and Wales. 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.

Turnover
Revenue 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.
Plant and machinery - 10% or 25% on reducing balance
Fixtures and fittings - 15% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.


Rotorsport Sales And Service Ltd (Registered number: 08600807)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Going concern
The financial statements continue to be prepared on a going concern basis and the company will be financially supported by the director.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Rotorsport Sales And Service Ltd (Registered number: 08600807)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures Product
Plant and and development
machinery fittings assets Totals
£    £    £    £   
COST
At 1 January 2023 5,751 11,836 - 17,587
Additions 133 811 33,802 34,746
Disposals - - (33,802 ) (33,802 )
At 31 December 2023 5,884 12,647 - 18,531
DEPRECIATION
At 1 January 2023 4,683 7,251 - 11,934
Charge for year 282 627 - 909
At 31 December 2023 4,965 7,878 - 12,843
NET BOOK VALUE
At 31 December 2023 919 4,769 - 5,688
At 31 December 2022 1,068 4,585 - 5,653

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 51,544 2,386
Other debtors 77,352 1,027
128,896 3,413

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 41,961 18,037
Taxation and social security 19,889 8,352
Other creditors 185,597 136,488
247,447 162,877

Rotorsport Sales And Service Ltd (Registered number: 08600807)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

7. RESERVES
Retained
earnings
£   

At 1 January 2023 12,599
Deficit for the year (17,611 )
At 31 December 2023 (5,012 )

8. RELATED PARTY DISCLOSURES

Included in creditors falling due within one year is an amount of £103,697 (2022 £62,564) due to the director of the company. This amount is repayable on demand. During the year, interest of £5,822 (2022 £6,919) was paid on the loan at a rate of 7% (2022: 7%).

Included in other creditors is an amount of £323 (2022 £nil) due to AutoGyro Certification Limited, included in other debtors is an amount of £nil (2022: £1,027) due from Autogyro Certification Limited, a company controlled by Mr G Speich, the director of the company, and Mrs J Speich. No interest is being charged on this loan.