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REGISTERED NUMBER: 02127971 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ROSSI GEARMOTORS LIMITED

ROSSI GEARMOTORS LIMITED (REGISTERED NUMBER: 02127971)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ROSSI GEARMOTORS LIMITED

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: F Bertolini
S De Chiara
B J Dunn
I J L Salamin





SECRETARY: R Day





REGISTERED OFFICE: Unit F4-F6
Little Heath Industrial Estate
Old Church Road
Coventry
CV6 7ND





REGISTERED NUMBER: 02127971 (England and Wales)





AUDITORS: Dafferns Audit Limited
Chartered Accountants
Statutory Auditor
One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB

ROSSI GEARMOTORS LIMITED (REGISTERED NUMBER: 02127971)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 98,940 121,272

CURRENT ASSETS
Stocks 6 569,752 748,229
Debtors 7 1,350,914 1,269,590
Cash at bank 388,549 373,329
2,309,215 2,391,148
CREDITORS
Amounts falling due within one year 8 913,414 952,831
NET CURRENT ASSETS 1,395,801 1,438,317
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,494,741

1,559,589

PROVISIONS FOR LIABILITIES 9 42,478 38,478
NET ASSETS 1,452,263 1,521,111

CAPITAL AND RESERVES
Called up share capital 10 70,000 70,000
Retained earnings 1,382,263 1,451,111
SHAREHOLDERS' FUNDS 1,452,263 1,521,111

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 14 February 2025 and were signed on its behalf by:





B J Dunn - Director


ROSSI GEARMOTORS LIMITED (REGISTERED NUMBER: 02127971)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Rossi Gearmotors 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets
Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

Repairs and maintenance costs are charged to the statement of comprehensive income in the period in which they are incurred.

Depreciation is provided on the cost of tangible assets in equal annual instalments over their estimated useful lives, which are as follows :

Plant and machinery - 10 years
Fixtures and fittings - 5 years
Computers- 3 years

Any gains and losses on the disposal of tangible fixed assets are recognised in the statement of comprehensive income in the year that the disposal takes place.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated on a weighted average basis. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

ROSSI GEARMOTORS LIMITED (REGISTERED NUMBER: 02127971)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
Forward foreign exchange contracts are initially recognised in the balance sheet at fair value within assets or liabilities as appropriate and then subsequently re-measured to fair value at each balance sheet date. Gains and losses arising from revaluation at the balance sheet date are recognised in the statement of comprehensive income. Fair value is assessed by reference to forward exchange rates observed at the reporting date.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 balance sheet 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.

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.

Operating leases
Rentals paid under operating leases are charged to the statement of comprehensive income on a straight line basis over the period of the lease.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income in other operating charges.

Going concern
The ultimate parent company, Rossi S.p.A has undertaken to provide such financial support as is required for the period of at least one year from the signing of the financial statements. The company shares common directors who are satisfied that this company has the financial resources to provide the required support.

Accordingly, the directors have adopted the going concern basis in preparing the annual report and accounts.

ROSSI GEARMOTORS LIMITED (REGISTERED NUMBER: 02127971)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2024 225,630 324,943 550,573
Additions 6,020 1,891 7,911
At 31 December 2024 231,650 326,834 558,484
DEPRECIATION
At 1 January 2024 133,965 295,336 429,301
Charge for year 17,399 12,844 30,243
At 31 December 2024 151,364 308,180 459,544
NET BOOK VALUE
At 31 December 2024 80,286 18,654 98,940
At 31 December 2023 91,665 29,607 121,272

6. STOCKS
2024 2023
£    £   
Finished goods 569,752 748,229

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,288,343 1,246,032
Amounts owed by group undertakings 2,482 -
Prepayments and accrued income 60,089 23,558
1,350,914 1,269,590

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 62,379 27,116
Amounts owed to group undertakings 387,823 434,577
Tax 7,175 43,781
Social security and other taxes 14,509 18,086
VAT 227,654 220,683
Other creditors 49,789 25,539
Accrued expenses 164,085 183,049
913,414 952,831

ROSSI GEARMOTORS LIMITED (REGISTERED NUMBER: 02127971)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 22,000 26,000
Other provisions 20,478 12,478
42,478 38,478

Deferred Warranty
tax provision
£    £   
Balance at 1 January 2024 26,000 12,478
Accelerated capital allowances (4,000 ) 8,000
Balance at 31 December 2024 22,000 20,478

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
70,000 Ordinary 1 70,000 70,000

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

The Report of the Auditors was unqualified.

MJ Gibbs FCCA (Senior Statutory Auditor)
for and on behalf of Dafferns Audit Limited

12. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £41,772 (2023: £41,504). Contributions totalling £313 (2023: £8,154) were payable to the fund at the reporting date and are included within creditors.

13. OTHER FINANCIAL COMMITMENTS

Other financial commitments and guarantees in respect of operating leases for property and office equipment, which are not included in the balance sheet, amount to £287,291 (2023 £100,999) in total.

14. RELATED PARTY TRANSACTIONS

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.There are no transactions in the current or prior year with members outside of wholly owned group members.

ROSSI GEARMOTORS LIMITED (REGISTERED NUMBER: 02127971)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

15. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Rossi International AG, a company incorporated in Switzerland, registered address Römerstrasse 1,4153 Reinach BL, Switzerland. At 31 December 2024 the smallest group in which the results of the company are consolidated is that headed by Rossi International AG.

The ultimate controlling party and company is Moovimenta AG, a company incorporated in Switzerland. At 31 December 2024 the largest group in which the results of the company are consolidated is that headed by Moovimenta AG.