Company registration number SC396066 (Scotland)
ROTOJAR INNOVATIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ROTOJAR INNOVATIONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ROTOJAR INNOVATIONS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
685,817
632,440
Tangible assets
4
181,542
213,710
867,359
846,150
Current assets
Debtors
5
3,663,880
3,465,817
Cash at bank and in hand
2,912
14,339
3,666,792
3,480,156
Creditors: amounts falling due within one year
6
(8,548,417)
(7,684,612)
Net current liabilities
(4,881,625)
(4,204,456)
Total assets less current liabilities
(4,014,266)
(3,358,306)
Creditors: amounts falling due after more than one year
7
(60,000)
(69,600)
Net liabilities
(4,074,266)
(3,427,906)
Capital and reserves
Called up share capital
150
150
Profit and loss reserves
(4,074,416)
(3,428,056)
Total equity
(4,074,266)
(3,427,906)
ROTOJAR INNOVATIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 6 May 2025 and are signed on its behalf by:
P B Moyes
Peter Moyes
Director
Company registration number SC396066 (Scotland)
ROTOJAR INNOVATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Rotojar Innovations Limited is a private company limited by shares incorporated in Scotland. The registered office is 37 Albyn Place, Aberdeen, United Kingdom, United Kingdom, AB10 1YN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Intangible fixed assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Patents & licences
20 years
1.4
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% on reducing balance
Fixtures and fittings
25% on cost
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
ROTOJAR INNOVATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Pension costs and other post-retirement benefits
The company operates a defined contribution plan for it's employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.
1.7
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
4
ROTOJAR INNOVATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Intangible fixed assets
Patents & licences
£
Cost
At 1 January 2024
748,657
Additions
93,635
At 31 December 2024
842,292
Amortisation and impairment
At 1 January 2024
116,217
Amortisation charged for the year
40,258
At 31 December 2024
156,475
Carrying amount
At 31 December 2024
685,817
At 31 December 2023
632,440
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
500,024
41,027
541,051
Depreciation and impairment
At 1 January 2024
287,045
40,296
327,341
Depreciation charged in the year
31,947
221
32,168
At 31 December 2024
318,992
40,517
359,509
Carrying amount
At 31 December 2024
181,032
510
181,542
At 31 December 2023
212,979
731
213,710
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
732,262
417,760
Corporation tax recoverable
233,109
273,743
Amounts owed by group undertakings
2,132,872
2,160,338
Other debtors
120
61,024
3,098,363
2,912,865
ROTOJAR INNOVATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Debtors
(Continued)
- 6 -
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
565,517
552,952
Total debtors
3,663,880
3,465,817
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,095,395
1,029,480
Taxation and social security
114,802
19,082
Other creditors
7,338,220
6,636,050
8,548,417
7,684,612
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
60,000
69,600
8
Ultimate Controlling Party
The ultimate controlling party is P B Moyes.