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REGISTERED NUMBER: 07164547 (England and Wales)
















Financial Statements for the Year Ended 31st March 2024

for

Rostek UK Limited

Rostek UK Limited (Registered number: 07164547)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Rostek UK Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: M Roschier
J Earnshaw
H H Roschier
D Barlow
E Jouhten





SECRETARY: A Howson





REGISTERED OFFICE: Suite F1, Epic House
18 Darnall Road
Sheffield
S9 5AB





REGISTERED NUMBER: 07164547 (England and Wales)





AUDITORS: Allen, West & Foster Limited
Chartered Accountants
Omega Court
364-366 Cemetery Road
Sharrow
Sheffield
South Yorkshire
S11 8FT

Rostek UK Limited (Registered number: 07164547)

Statement of Financial Position
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,881 51,849

CURRENT ASSETS
Stocks 10,100 9,920
Debtors 5 2,309,946 1,781,053
Cash at bank and in hand 42,067 93,896
2,362,113 1,884,869
CREDITORS
Amounts falling due within one year 6 1,460,659 1,067,460
NET CURRENT ASSETS 901,454 817,409
TOTAL ASSETS LESS CURRENT
LIABILITIES

952,335

869,258

PROVISIONS FOR LIABILITIES 8 12,395 12,565
NET ASSETS 939,940 856,693

CAPITAL AND RESERVES
Called up share capital 9 655,000 655,000
Share premium 6,666 6,666
Retained earnings 278,274 195,027
SHAREHOLDERS' FUNDS 939,940 856,693

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 Board of Directors and authorised for issue on 24th June 2024 and were signed on its behalf by:





J Earnshaw - Director


Rostek UK Limited (Registered number: 07164547)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Rostek UK Limited 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
Turnover represents net invoiced sales of goods and applications made, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery - 25% reducing balance
Fixtures & fittings - 15% reducing balance
Computer equipment - 25% straight line

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss.If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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

Long term contracts are reviewed regularly by quantity surveyors and it is their assessment of the stage of completion that forms the basis for the measurement of work in progress. On a job by job basis the percentage completion is applied to the total expected costs on a job, this is then compared to the costs to date and results in either an accrual for costs or addition to work in progress in the profit and loss account.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the profit or loss. Reversals of impairment losses are also recognised in the profit or loss.

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.


Rostek UK Limited (Registered number: 07164547)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Currency presentation
The financial statements are presented in Sterling (£) which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial Instruments.
Financial Instruments are recognised in the company's balance sheet when it becomes party to the contractual provisions of the instrument. The only financial instruments are basic, being cash, debtors and creditors.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

Rostek UK Limited (Registered number: 07164547)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 154,709
Additions 18,857
Disposals (47,236 )
At 31st March 2024 126,330
DEPRECIATION
At 1st April 2023 102,860
Charge for year 19,825
Eliminated on disposal (47,236 )
At 31st March 2024 75,449
NET BOOK VALUE
At 31st March 2024 50,881
At 31st March 2023 51,849

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 2,252,718 1,747,264
Other debtors 57,228 33,789
2,309,946 1,781,053

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 862,312 546,319
Taxation and social security 164,945 95,898
Other creditors 433,402 425,243
1,460,659 1,067,460

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 32,000 32,000
Between one and five years 8,000 40,000
40,000 72,000

Rostek UK Limited (Registered number: 07164547)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 12,395 12,565

Deferred
tax
£   
Balance at 1st April 2023 12,565
Credit to Income Statement during year (170 )
Balance at 31st March 2024 12,395

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
655,000 Ordinary £1 655,000 655,000

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Allen ACA FCCA (Senior Statutory Auditor)
for and on behalf of Allen, West & Foster Limited

11. RELATED PARTY DISCLOSURES

During the year the company purchased goods from Rostek OY amounting to £198,188 (2023: £248,785). At the balance sheet date the amount owing to Rostek OY and included in trade creditors was £6,758 (2023: £64,078).

During the year Rostek OY charged the company £6,417 (2023: £6,612) in respect of chairman's fees, £23,524 (2023: £20,627) in management charges and £2,972 (2023: £nil) in legal fees.

The company operates a loan account with Rostek OY. At the balance sheet date Rostek OY owed the company £20,009 (2023: £25,829).

During the year the company paid dividends to Rostek OY amounting to £242,636 (2023: £118,555).

The company is controlled by Rostek OY, a company registered in Finland.

No individual has outright control of Rostek OY.