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Registration number: 03020377

Rotronics Systems Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Rotronics Systems Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Rotronics Systems Limited

Company Information

Director

RE Head

Company secretary

CDE Head

Registered office

4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

Accountants

Addicus Plus Limited
Chartered Certified Accountants4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE

 

Rotronics Systems Limited

(Registration number: 03020377)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,086

7,174

Current assets

 

Stocks

5,732

7,501

Debtors

5

48,205

128,299

Cash at bank and in hand

 

259,010

230,163

 

312,947

365,963

Creditors: Amounts falling due within one year

6

(26,138)

(100,006)

Net current assets

 

286,809

265,957

Total assets less current liabilities

 

292,895

273,131

Provisions for liabilities

(1,156)

(1,740)

Net assets

 

291,739

271,391

Capital and reserves

 

Called up share capital

100

100

Retained earnings

291,639

271,291

Shareholders' funds

 

291,739

271,391

 

Rotronics Systems Limited

(Registration number: 03020377)
Balance Sheet as at 31 July 2024 (continued)

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 February 2025
 

RE Head
Director

   
     
 

Rotronics Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 The Axium Centre Dorchester Road
Lytchett Minster
Poole
Dorset
BH16 6FE
England

These financial statements were authorised for issue by the director on 17 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Rotronics Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Contract revenue recognition

Project income is recognised upon completion of each project, except for long term contracts.

Where insufficient work has been carried out on a project to have earned any right to consideration, the costs incurred are treated as work in progress.

Long term contracts are assessed on a project by project basis and turnover and related costs are recognised as activity progresses. Where the project outcome can be assessed with reasonable certainty, a proportion of the turnover and costs relevant to the work done to the balance sheet date is recognised in the profit and loss account. Any foreseeable losses are recognised immediately in the profit and loss account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Rotronics Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Furniture, fixtures, equipment

25% on reducing balance

Computer equipment

25% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Rotronics Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

4

Tangible assets

Furniture, fixtures, equipment
£

Plant and machinery
£

Computer equipment
£

Total
£

Cost or valuation

At 1 August 2023

31,127

19,056

31,604

81,787

Additions

-

-

941

941

At 31 July 2024

31,127

19,056

32,545

82,728

Depreciation

At 1 August 2023

30,445

14,837

29,331

74,613

Charge for the year

170

1,055

804

2,029

At 31 July 2024

30,615

15,892

30,135

76,642

Carrying amount

At 31 July 2024

512

3,164

2,410

6,086

At 31 July 2023

682

4,219

2,273

7,174

5

Debtors

2024
£

2023
£

Trade debtors

44,917

112,540

Other debtors

3,127

2,925

Prepayments

161

12,834

48,205

128,299

 

Rotronics Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,701

21,003

Taxation and social security

20,093

60,639

Accruals and deferred income

3,344

18,364

26,138

100,006