Registered number
03156874
Rosen(UK) Limited
Report and Financial Statements
31 December 2023
Rosen(UK) Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Strategic report 4
Independent auditor's report 6
Income statement 9
Statement of comprehensive income 10
Statement of financial position 11
Statement of changes in equity 12
Statement of cash flows 13
Notes to the financial statements 14
Rosen(UK) Limited
Company Information
Directors
M Nesbitt
R Palmer-Jones
Auditors
Bell Anderson Limited
264-266 Durham Road
Gateshead
Tyne & Wear
NE8 4JR
Registered office
Floor 2, Q5
Quorum Business Park
Newcastle upon Tyne
Tyne & Wear
NE12 8BS
Registered number
03156874
Rosen(UK) Limited
Registered number: 03156874
Directors' Report
The directors present their report and financial statements for the year ended 31 December 2023.
Principal activities
The company's principal activity during the year continued to be the provision of engineering consultancy services.
Future developments
The increase in turnover during 2023 was exceptional partly on the back of some large projects which were successfully delivered. The late projects were in the area of future fuel and a major Upstream project. Both these areas are expected to be busy during 2024. Field services and field verification have been a successful growth area for the business and this is expected to continue to grow over the next 5 years. The board of directors continues to invest in staff training and recruitment to support all projects.

The company continues to invest in the Aberdeen office as we continue to grow the team there. The renewables sector has begun to show returns and business is growing in line with management expectations.
Research and development
The company undertakes research and development in conjunction with the rest of the group in order to identify and improve the delivery of engineering consultancy.
Financial instrument risk
The company has an established, structured approach to risk management. The company's activities expose it to a variety of financial risks such as credit, liquidity and cash flow. The company has adopted risk management policies that seek to mitigate these risks in a cost effective manner. Financial assets that expose the company to financial risk consist primarily of trade receivables and cash. Financial liabilities that expose the company to financial risk consist primarily of trade payables. The directors monitor liquidity closely and always ensure that the company has adequate resources to meet its obligations and trading requirements.
Directors
The following persons served as directors during the year:
M Nesbitt
R Palmer-Jones
Directors' responsibilities
The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board on 24 September 2024 and signed on its behalf.
M Nesbitt
Director
Rosen(UK) Limited
Strategic Report
Review of business
Key financial and other indicators between this financial year and last year are as follows:
2023 2022
Turnover 20,189,592 16,654,531
Gross Profit 10,694,913 8,667,553
Net Profit before tax 2,224,760 1,142,038
Shareholders' funds 4,143,668 2,384,711
This year has been an exceptional year for Rosen UK, with the highest annual revenue yet achieved for the business. There were a few large projects delivered that helped make this possible and this should be recognized for 2024 when targets are identified. The large projects were in the area of future fuel, more specifically hydrogen, and also a major Upstream project. Both these areas are expected to be busy during 2024 but we cannot be complacent about working sales channels for this work.

Field services and field verification have been a successful growth area for the business during this period. Investment in high end equipment has allowed technically challenging work to be delivered. To complement this, investment in training of field staff has been significant resulting in a high level of demand for Rosen UK services by the UK Gas Networks, including them recommending us as a preferred contractor to their own contractors. This area of the business is expected to continue to grow over the next 5 years.

The Upstream business is maintaining its strong growth and work is being delivered at capacity. Cognisance needs to be taken over the potential to over-rely on one or two major clients in this sector, and the employment of a specialist Sales Manager in the middle of the year should help to spread the risk.

Regional work for other ROSEN regions remained strong for the year, including the training and support of newly formed regional teams. The obvious concern with this is that these teams then deliver work that Rosen UK previously delivered, however the reality is that these teams will relieve the Rosen UK staff of unsustainable high levels of workload.
Principal risks and uncertainties
The company faces many different risks and uncertainties during its day to day operations. Appropriate risk management procedures have been implemented to minimise any potential adverse effects of these risks on the business operations. The company faces the following risks and uncertainties which management believes could have a material and adverse impact on business operations include the following:
Market risks
Resourcing is the main concern for 2024, with there still being a lack of suitably qualified and experienced candidates for the vacancies carried over from previous years. Training and development of existing staff is ongoing to fill some gaps, but the potential to look for remote working staff may be explored.

Further risks surround the recent change in the UK political situation which could impact upon the direction of future energy policy.
Rosen(UK) Limited
Strategic Report
Financial risks
In the normal course of business, credit is extended to its customers with all of the associated risks. The company exercises strong credit control procedures and maintains close working relationships with its customers.

The company maintains sufficient levels of cash liquidity and working capital which is necessary for all trading companies.
Interest rate risks
The company has no significant exposure to interest rate risk.
Liquidity risks
The company continues to have no significant liquidity risks.
This report was approved by the board on 24 September 2024 and signed on its behalf.
M Nesbitt
Director
Rosen(UK) Limited
Independent auditor's report
to the members of Rosen(UK) Limited
Opinion
We have audited the financial statements of Rosen(UK) Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates through discussions with the directors and other management (as required by auditing standards) and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. As a consequence of these inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.

We did not identify any key audit matters relating to irregularities, including fraud. In common with all audits under ISA's (UK), we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Michael Anderson BA, FCA
(Senior Statutory Auditor) 264-266 Durham Road
for and on behalf of Gateshead
Bell Anderson Limited
Statutory Auditor Tyne & Wear
24 September 2024 NE8 4JR
Rosen(UK) Limited
Income Statement
for the year ended 31 December 2023
Notes 2023 2022
£ £
Turnover 3 20,189,592 16,654,531
Cost of sales (9,494,679) (7,986,978)
Gross profit 10,694,913 8,667,553
Administrative expenses (8,377,533) (7,498,917)
Operating profit 4 2,317,380 1,168,636
Loss on sale of fixed assets - (897)
Interest receivable 1,273 -
Interest payable 7 (93,893) (25,701)
Profit on ordinary activities before taxation 2,224,760 1,142,038
Tax on profit on ordinary activities 8 (465,803) (161,129)
Profit for the financial year 1,758,957 980,909
Rosen(UK) Limited
Statement of Comprehensive Income
for the year ended 31 December 2023
Notes 2023 2022
£ £
Profit for the financial year 1,758,957 980,909
Other comprehensive income
Total comprehensive income for the year 1,758,957 980,909
Rosen(UK) Limited
Statement of Financial Position
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 9 793,414 517,341
Current assets
Debtors 10 5,185,574 4,808,241
Cash at bank and in hand 1,175,152 1,052,903
6,360,726 5,861,144
Creditors: amounts falling due within one year 11 (2,811,046) (3,875,562)
Net current assets 3,549,680 1,985,582
Total assets less current liabilities 4,343,094 2,502,923
Creditors: amounts falling due after more than one year 12 (155,370) (106,210)
Provisions for liabilities
Deferred taxation 14 (44,056) (12,002)
Net assets 4,143,668 2,384,711
Capital and reserves
Called up share capital 15 16,500 16,500
Share premium 16 16,875 16,875
Profit and loss account 17 4,110,293 2,351,336
Total equity 4,143,668 2,384,711
M Nesbitt
Director
Approved by the board on 24 September 2024
Rosen(UK) Limited
Statement of Changes in Equity
for the year ended 31 December 2023
Share Share Profit Total
capital premium and loss
account
£ £ £ £
At 1 January 2022 16,500 16,875 1,370,427 1,403,802
Profit for the financial year 980,909 980,909
At 31 December 2022 16,500 16,875 2,351,336 2,384,711
At 1 January 2023 16,500 16,875 2,351,336 2,384,711
Profit for the financial year 1,758,957 1,758,957
At 31 December 2023 16,500 16,875 4,110,293 4,143,668
Rosen(UK) Limited
Statement of Cash Flows
for the year ended 31 December 2023
Notes 2023 2022
£ £
Operating activities
Profit for the financial year 1,758,957 980,909
Adjustments for:
Loss on sale of fixed assets - 897
Interest receivable (1,273) -
Interest payable 93,893 25,701
Tax on profit on ordinary activities 465,803 161,129
Depreciation 331,668 306,007
Increase in stocks - (174,518)
Increase in debtors (377,333) (349,805)
Decrease in creditors (1,380,163) (193,679)
891,552 756,641
Interest received 1,273 -
Interest paid (74,545) (20,555)
Interest element of finance lease payments (19,348) (5,146)
Corporation tax paid (131,014) -
Cash generated by operating activities 667,918 730,940
Investing activities
Payments to acquire tangible fixed assets (387,016) (286,093)
Proceeds from sale of tangible fixed assets - 3
Cash used in investing activities (387,016) (286,090)
Financing activities
Capital element of finance lease payments (158,653) (65,568)
Cash used in financing activities (158,653) (65,568)
Net cash generated
Cash generated by operating activities 667,918 730,940
Cash used in investing activities (387,016) (286,090)
Cash used in financing activities (158,653) (65,568)
Net cash generated 122,249 379,282
Cash and cash equivalents at 1 January 1,052,903 673,621
Cash and cash equivalents at 31 December 1,175,152 1,052,903
Cash and cash equivalents comprise:
Cash at bank 1,175,152 1,052,903
Rosen(UK) Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents the value of goods provided to customers and work carried out and work accrued in respect of engineering consultancy services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery,fixtures fittings, tools and equipment 3 to 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Reduced disclosure
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from disclosing Related Party Transactions as the financial statements of the company are consolidated in the financial statements of the parent company as disclosed in note 20.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Critical accounting estimates and judgements
The depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. Further disclosure is made in the appropriate note to the accounts.

The calculation of tax liabilities involves uncertainties in the application of complex tax laws. Determining tax provisions therefore requires judgement on the treatment of certain transactions. Deferred tax is provided on the possibility of the reversal in the future of short term timing differences for accounting and taxation purposes.

The company makes an estimate of the recoverability of trade debtors and other debtors and this takes into account, the credit rating of the debtor, the ageing profile of the debtor and historical experience. Where management consider a provision is necessary then a specific provision is made.
3 Analysis of turnover 2023 2022
£ £
Services rendered 20,189,592 16,654,531
By geographical market:
UK 6,063,635 4,702,231
Europe 3,516,016 2,500,371
Rest of world 10,609,941 9,451,929
20,189,592 16,654,531
4 Operating profit 2023 2022
£ £
This is stated after charging:
Depreciation of owned fixed assets 171,388 175,315
Depreciation of assets held under finance leases and hire purchase contracts 160,280 130,692
Operating lease rentals - land and buildings 757,879 612,348
Auditors' remuneration for audit services 7,750 7,500
Auditors' remuneration for other services 2,250 2,000
5 Directors' emoluments 2023 2022
£ £
Emoluments 297,440 263,380
Company contributions to defined contribution pension plans 43,283 35,215
340,723 298,595
Highest paid director:
Emoluments 170,809 136,618
Company contributions to defined contribution pension plans 31,788 23,744
202,597 160,362
Number of directors to whom retirement benefits accrued: 2023 2022
Number Number
Defined contribution plans 2 3
6 Staff costs 2023 2022
£ £
Wages and salaries 3,918,379 3,707,465
Social security costs 384,959 390,359
Other pension costs 856,169 637,231
5,159,507 4,735,055
Average number of employees during the year Number Number
Directors 2 2
Support 29 26
Operational 137 133
168 161
7 Interest payable 2023 2022
£ £
Other loans 74,545 20,555
Finance charges payable under finance leases and hire purchase contracts 19,348 5,146
93,893 25,701
8 Taxation 2023 2022
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 433,749 174,141
Adjustments in respect of previous periods - (42,683)
433,749 131,458
Deferred tax:
Origination and reversal of timing differences 32,054 29,671
Tax on profit on ordinary activities 465,803 161,129
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2023 2022
£ £
Profit on ordinary activities before tax 2,224,760 1,142,038
Standard rate of corporation tax in the UK 25% 19%
£ £
Profit on ordinary activities multiplied by the standard rate of corporation tax 556,190 216,987
Effects of:
Capital allowances for period in excess of depreciation (95,158) (42,846)
Deferred tax movement 32,054 29,671
Adjustments due to effective tax rate change (27,283) -
Adjustments to tax charge in respect of previous periods (42,683)
Current tax charge for period 465,803 161,129
Factors that may affect future tax charges
None.
9 Tangible fixed assets
Fixtures, fittings, tools and equipment
At cost
£
Cost or valuation
At 1 January 2023 2,745,129
Additions 607,741
Disposals (120,598)
At 31 December 2023 3,232,272
Depreciation
At 1 January 2023 2,227,788
Charge for the year 331,668
On disposals (120,598)
At 31 December 2023 2,438,858
Carrying amount
At 31 December 2023 793,414
At 31 December 2022 517,341
2023 2022
£ £
Carrying value of plant and machinery included above held under finance leases and hire purchase contracts 272,542 211,972
10 Debtors 2023 2022
£ £
Trade debtors 597,212 1,107,241
Amounts owed by group undertakings and undertakings in which the company has a participating interest 3,140,645 2,783,665
Other debtors 90,823 89,815
Prepayments and accrued income 1,356,894 827,520
5,185,574 4,808,241
11 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 132,532 119,620
Trade creditors 655,191 472,981
Amounts owed to group undertakings and undertakings in which the company has a participating interest 24,573 1,449,565
Corporation tax 434,193 131,458
Other taxes and social security costs 368,948 483,920
Other creditors 109,210 96,548
Accruals and deferred income 1,086,399 1,121,470
2,811,046 3,875,562
12 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 155,370 106,210
13 Obligations under finance leases and hire purchase 2023 2022
contracts £ £
Amounts payable:
Within one year 132,532 119,620
Within two to five years 155,370 106,210
287,902 225,830
14 Deferred taxation 2023 2022
£ £
Accelerated capital allowances 44,056 12,002
2023 2022
£ £
At 1 January 12,002 (17,669)
Charged to the profit and loss account 32,054 29,671
At 31 December 44,056 12,002
15 Share capital Nominal 2023 2023 2022
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 16,500 16,500 16,500
16 Share premium 2023 2022
£ £
At 1 January 16,875 16,875
At 31 December 16,875 16,875
17 Profit and loss account 2023 2022
£ £
At 1 January 2,351,336 1,370,427
Profit for the financial year 1,758,957 980,909
At 31 December 4,110,293 2,351,336
18 Other financial commitments
Total future minimum lease payments under non-cancellable operating leases:
Land and buildings Land and buildings Other Other
2023 2022 2023 2022
£ £ £ £
Falling due:
within one year 95,608 - - -
within two to five years 476,442 521,087 - -
572,050 521,087 - -
19 Controlling party
The immediate parent company is Rosen Swiss AG. The ultimate parent company is PG Polaris TopCo S.a r.l.(incorporated in Luxembourg). However there is no ultimate controlling party.
20 Presentation currency
The financial statements are presented in Sterling.
21 Legal form of entity and country of incorporation
Rosen(UK) Limited is a private company limited by shares and incorporated in England.
22 Principal place of business
The address of the company's principal place of business and registered office is:
Floor 2, Q5
Quorum Business Park
Newcastle upon Tyne
Tyne & Wear
NE12 8BS
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