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Registered number: 04307924









Rotex Europe Limited









Annual Report and Consolidated Financial Statements

For the Year Ended 30 September 2024

 
Rotex Europe Limited
 
 
Company Information


Directors
J D Huchison 
L E Rentz 
U H A Bartel 




Company secretary
DTM Legal LLP



Registered number
04307924



Registered office
DTM Legal LLP
Knights Court

Weaver Street

Chester

England

CH1 2BQ




Independent auditors
Hurst Accountants Limited
Chartered Accountants & Statutory Auditors

3 Stockport Exchange

Stockport

Cheshire

SK1 3GG





 
Rotex Europe Limited
 

Contents



Page
Group Strategic Report
 
1 - 2
Directors' Report
 
3 - 4
Independent Auditors' Report
 
5 - 8
Consolidated Statement of Comprehensive Income
 
9
Consolidated Statement of Financial Position
 
10
Company Statement of Financial Position
 
11 - 13
Consolidated Statement of Changes in Equity
 
13
Company Statement of Changes in Equity
 
13
Consolidated Statement of Cash Flows
 
14
Consolidated Analysis of Net Debt
 
15
Notes to the Financial Statements
 
16 - 34


 
Rotex Europe Limited
 
 
Group Strategic Report
For the Year Ended 30 September 2024

Introduction
 
The Directors present the Group Strategic Report for the year ended 30 September 2024.

Business review
 
The Directors announce a profit before taxation of £4,873k for the Group for the year ending 30 September 2024, which is 94% higher than the previous year. The current year incurred extreme fluctuations in exchange rates resulting in an exceptional loss of £592k compared to a slightly higher loss of £623k in the previous year. 
£691k is still provided for in respect of overseas sales taxes incurred where recovery thereof is not certain due to Audit with Bulgarian Tax authorities.
The consolidated balance sheet continues to be strong and cash in hand increased by £4,473k vs the previous year. 
No dividends were declared in 2024 for Rotex Europe. Rotex Japan paid dividends of 87,018,000 JPY (£456k). 
The Group management team continues to support the strategic development of its subsidiary Rotex Japan Limited. As an innovative leader, our goals continue to be profitable growth and market leadership achieved through continuous improvement, high quality product offerings, and excellence in our associates.
The Group continues to benefit from product development activity undertaken by Rotex Global LLC.
Economic Challenges
While global supply chains have recently suffered from various headwinds, those supporting our products have generally remained intact, providing access to sufficient inventory of the key materials needed for manufacturing. We have experienced significant delays in certain raw materials and components, but we have largely been able to mitigate the impact of these delays on our consolidated results of operations. We continue to identify and qualify alternative sources to mitigate risk associated with single or sole sources of supply, and we may choose to purchase certain materials in safety stock where we have supply chain continuity concerns. We have experienced, and it remains possible that we may experience interruptions to our supply chains, and such an interruption could materially affect our ability to timely manufacture and distribute our products and could also have a significant impact on the Group’s consolidated net revenue, results of operations, and cash flows during fiscal 2025 and beyond. 
We also experienced material and supply chain inflation during fiscal 2024, yet not to the extent of previous years. Pricing actions and supply chain productivity initiatives have mitigated and are expected to continue to mitigate some of these inflationary pressures, but we may not be successful in fully offsetting these incremental costs, which could have a significant impact on the Group’s consolidated results of operations, and cash flows during fiscal 2025 and beyond.

Principal risks and uncertainties
 
As a large proportion of the trading of the Group is conducted abroad, we are exposed to the relative strength of sterling against other world currencies. Although we may address this risk through financing activities and the use of derivative financial instruments through other group companies, those actions may not prove to be fully effective.
Uncertainties about a potential global recession exist and could negatively impact the business in the near term should there be a downturn in order volume. However, we anticipate driving future growth as we continue to focus on bringing a global sales approach to the capital sales team, emphasizing share gain in our aftermarket segments, and working on improvements in our supply chain to obtain cost reductions and improve profitability.

Page 1

 
Rotex Europe Limited
 

Group Strategic Report (continued)
For the Year Ended 30 September 2024

Financial key performance indicators
 
The directors present below the financial key performance indicators:

2024
2023
£
£



Operating profit / Sales (%)
18
10

Profit before tax / Sales (%)
21
12

Sales / Employee (£000)
525
402

Profit before tax / Employee (£000)
108
50


This report was approved by the board and signed on its behalf.



L E Rentz
Director
Date: 4 April 2025

Page 2

 
Rotex Europe Limited
 
 
 
Directors' Report
For the Year Ended 30 September 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £3,559,463 (2023 - £1,937,266).

No dividends were declared in 2024 for Rotex Europe.
The directors do not recommend the payment of a final dividend.

Directors

The directors who served during the year were:

J D Huchison 
L E Rentz 
U H A Bartel 

Future developments

Currently our focus is to build up our customer bases by bringing a global sales approach to the capital sales team and to emphasise share gain in our aftermarket segments. In addition, we are working on improvements in our supply chain to bring cost reductions and improved profitability.

Page 3

 
Rotex Europe Limited
 
 
 
Directors' Report (continued)
For the Year Ended 30 September 2024

Financial instruments

The group's principal financial instruments comprise bank balances, trade creditors, trade debtors, operating lease agreements and forward exchange contracts. The main purpose of these instruments is to raise funds for the group's operations and to finance the group's operations.
Due to the nature of the financial instruments used by the group there is no exposure to price risk. The group's approach to managing other risks applicable to the financial instruments concerned is shown below:
In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding, and the group makes use of money market facilities where funds are available.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.
Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
The group is a lessee in respect of operating leased assets. The liquidity risk in respect of these is managed in the same way as trade creditors above.
Where deemed significant, currency risk is managed through foreign exchange forward contracts.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Post balance sheet events

There are no post balance sheet events that have affected the group or company.

Auditors

The auditorsHurst Accountants Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





L E Rentz
Director
Date: 4 April 2025

Page 4

 
Rotex Europe Limited
 
 
 
Independent Auditors' Report to the Members of Rotex Europe Limited
 

Opinion


We have audited the financial statements of Rotex Europe Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 30 September 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe 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 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 Group's and of the parent Company's affairs as at 30 September 2024 and of the Group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Group's or the parent 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.


Page 5

 
Rotex Europe Limited
 
 
 
Independent Auditors' Report to the Members of Rotex Europe Limited (continued)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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.


Opinion 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 Group 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 Group 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 Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company 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 set out on page 3, 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 Group's and the parent 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 Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 
Rotex Europe Limited
 
 
 
Independent Auditors' Report to the Members of Rotex Europe Limited (continued)


Auditors' 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 Auditors' 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 Group 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:

Identifying and assessing potential risks related to irregularities
In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

The nature of the industry and sector in which the company operates; the control environment and business  performance including key drivers for directors' remuneration, bonus levels and performance targets.
The outcome of enquiries of local management and parent company management, including whether management was aware of any instances of non-compliance with laws and regulations, and whether management had knowledge of any actual, suspected, or alleged fraud.
Supporting documentation relating to the Company's policies and procedures for:
°Identifying, evaluating, and complying with laws and regulations
°Detecting and responding to the risks of fraud
The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
The outcome of discussions amongst the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
The legal and regulatory framework in which the Company operates, particularly those laws and regulations which have a direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or which had a fundamental effect on the operations of the Company, including General Data Protection requirements, and Anti-bribery and Corruption.
 
Audit response to risks identified
Our procedures to respond to the risks identified included the following:
 
Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the provisions of those relevant laws and regulations which have a direct effect on the financial statements.
Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud.
Evaluation of the operating effectiveness of management’s controls designed to prevent and detect irregularities.
Enquiring of management about any actual and potential litigation and claims.
Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of material misstatement due to fraud.
 
Page 7

 
Rotex Europe Limited
 
 
 
Independent Auditors' Report to the Members of Rotex Europe Limited (continued)


We have also considered the risk of fraud through management override of controls by:
 
Testing the appropriateness of journal entries and other adjustments. We have used data analytics software to identify accounting transactions which may pose a heightened risk of material misstatement, whether due to fraud or error;
Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
 
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them. Also, 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.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' 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 2006Our 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 Auditors' 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.





Anthony Woodings (Senior Statutory Auditor)
for and on behalf of
Hurst Accountants Limited
Chartered Accountants
Statutory Auditors
3 Stockport Exchange
Stockport
Cheshire
SK1 3GG

4 April 2025
Page 8

 
Rotex Europe Limited
 
 
Consolidated Statement of Comprehensive Income
For the Year Ended 30 September 2024

2024
2023
Note
£
£

  

Turnover
 4 
23,639,259
18,108,561

Cost of sales
  
(13,945,106)
(10,780,638)

Gross profit
  
9,694,153
7,327,923

Administrative expenses
  
(5,513,744)
(5,183,441)

Operating profit
 5 
4,180,409
2,144,482

Interest receivable and similar income
 8 
692,869
371,099

Profit before taxation
  
4,873,278
2,515,581

Tax on profit
 9 
(1,313,815)
(578,315)

Profit for the financial year
  
3,559,463
1,937,266

  

Foreign exchange translation movements of subsidiaries
  
(24,917)
(57,124)

Other comprehensive income for the year
  
(24,917)
(57,124)

Total comprehensive income for the year
  
3,534,546
1,880,142

Profit for the year attributable to:
  

Owners of the parent Company
  
3,559,463
1,937,266

Total comprehensive income for the year attributable to:
  

Owners of the parent Company
  
3,534,546
1,880,142

There were no recognised gains and losses for 2024 or 2023 other than those included in the consolidated statement of comprehensive income.

The notes on pages 16 to 34 form part of these financial statements.

Page 9

 
Rotex Europe Limited
Registered number: 04307924

Consolidated Statement of Financial Position
As at 30 September 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 10 
852,855
882,666

Current assets
  

Stocks
 12 
2,448,362
2,783,230

Debtors: amounts falling due within one year
 13 
6,360,492
4,904,507

Cash at bank and in hand
 14 
20,155,126
15,648,045

  
28,963,980
23,335,782

Creditors: amounts falling due within one year
 15 
(6,514,081)
(4,471,610)

Net current assets
  
 
 
22,449,899
 
 
18,864,172

Total assets less current liabilities
  
23,302,754
19,746,838

Provisions for liabilities
  

Other provisions
 17 
(406,377)
(385,007)

Net assets
  
22,896,377
19,361,831


Capital and reserves
  

Called up share capital 
 18 
1,000
1,000

Share premium account
 19 
699,010
699,010

Other reserves
 19 
(207,156)
(182,239)

Profit and loss account
 19 
22,403,523
18,844,060

  
22,896,377
19,361,831


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




L E Rentz
Director

Date: 4 April 2025

The notes on pages 16 to 34 form part of these financial statements.

Page 10

 
Rotex Europe Limited
Registered number: 04307924

Company Statement of Financial Position
As at 30 September 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 10 
849,616
880,762

Investments
 11 
30,000
30,000

  
879,616
910,762

Current assets
  

Stocks
 12 
2,322,695
2,766,299

Debtors: amounts falling due within one year
 13 
6,317,141
4,792,128

Cash at bank and in hand
 14 
19,357,693
15,017,241

  
27,997,529
22,575,668

Creditors: amounts falling due within one year
 15 
(5,995,661)
(4,208,902)

Net current assets
  
 
 
22,001,868
 
 
18,366,766

Total assets less current liabilities
  
22,881,484
19,277,528

  

Provisions for liabilities
  

Other provisions
 17 
(406,377)
(385,007)

Net assets
  
22,475,107
18,892,521


Capital and reserves
  

Called up share capital 
 18 
1,000
1,000

Share premium account
 19 
699,010
699,010

Profit and loss account brought forward
  
18,192,511
16,365,674

Profit for the year
  
3,582,586
1,826,837

Profit and loss account carried forward
  
21,775,097
18,192,511

  
22,475,107
18,892,521


Page 11

 
Rotex Europe Limited
Registered number: 04307924
    
Company Statement of Financial Position (continued)
As at 30 September 2024

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Income Statement in these financial statements.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


L E Rentz
Director

Date: 4 April 2025

The notes on pages 16 to 34 form part of these financial statements.

Page 12

 
Rotex Europe Limited
Registered number: 04307924

Consolidated Statement of Changes in Equity
For the Two Years Ended 30 September 2024


Called up share capital
Share premium account
Foreign exchange reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 October 2022
1,000
699,010
(125,115)
16,906,794
17,481,689


Comprehensive income for the year

Profit for the year
-
-
-
1,937,266
1,937,266

Foreign exchange translation movements of subsidiaries
-
-
(57,124)
-
(57,124)
Total comprehensive income for the year
-
-
(57,124)
1,937,266
1,880,142


At 1 October 2023
1,000
699,010
(182,239)
18,844,060
19,361,831


Comprehensive income for the year

Profit for the year
-
-
-
3,559,463
3,559,463

Foreign exchange translation movements of subsidiaries
-
-
(24,917)
-
(24,917)
Total comprehensive income for the year
-
-
(24,917)
3,559,463
3,534,546


At 30 September 2024
1,000
699,010
(207,156)
22,403,523
22,896,377



Company Statement of Changes in Equity
For the Two Years Ended 30 September 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 October 2022
1,000
699,010
16,365,674
17,065,684


Comprehensive income for the year

Profit for the year
-
-
1,826,837
1,826,837


At 1 October 2023
1,000
699,010
18,192,511
18,892,521


Comprehensive income for the year

Profit for the year
-
-
3,582,586
3,582,586


At 30 September 2024
1,000
699,010
21,775,097
22,475,107


Page 13

 
Rotex Europe Limited
 

Consolidated Statement of Cash Flows
For the Year Ended 30 September 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
3,559,463
1,937,266

Adjustments for:

Depreciation of tangible assets
41,636
101,398

Interest received
(692,869)
(371,099)

Taxation charge
1,313,815
578,315

Decrease in stocks
334,868
84,828

(Increase)/decrease in debtors
(946,481)
1,699,845

(Increase)/decrease in amounts owed by groups
(515,865)
877,615

Increase/(decrease) in creditors
657,776
(1,606,962)

Decrease in amounts owed to groups
728,453
(104,289)

Increase/(decrease) in provisions
21,370
(114,083)

Corporation tax paid
(685,470)
(768,765)

Net cash generated from operating activities

3,816,696
2,314,069

Cash flows from investing activities

Purchase of tangible fixed assets
(11,825)
(65,887)

Interest received
692,869
371,099

Net cash from investing activities
681,044
305,212

Net increase in cash and cash equivalents
4,497,740
2,619,281

Cash and cash equivalents at beginning of year
15,648,045
13,086,752

Foreign exchange gains and losses
(24,918)
(57,988)

Cash and cash equivalents at the end of year
20,120,867
15,648,045


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
20,155,126
15,648,045

Bank overdrafts
(34,259)
-

20,120,867
15,648,045


The notes on pages 16 to 34 form part of these financial statements.

Page 14

 
Rotex Europe Limited
 

Consolidated Analysis of Net Debt
For the Year Ended 30 September 2024





At 1 October 2023
Cash flows
Other non-cash changes
At 30 September 2024
£

£

£

£

Cash at bank and in hand

15,648,045

4,531,999

(24,918)

20,155,126

Bank overdrafts

-

(34,259)

-

(34,259)


15,648,045
4,497,740
(24,918)
20,120,867

The notes on pages 16 to 34 form part of these financial statements.

Page 15

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

1.


General information

Rotex Europe Limited is a private company limited by members capital incorporated in England and Wales.  The address of the registered office and principal place of business is C/O DTM Legal LLP, Knights Court, Weaver Street, Chester, England, CH1 2BQ
The nature of the company's and group’s operations and its principal activity is the design, assembly, commissioning, service and repair of screening, feeding and conveying equipment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Income Statement in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Income Statement from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 October 2014.

Page 16

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
-  the Group has transferred the significant risks and rewards of ownership to the buyer;
-  the Group retains neither continuing managerial involvement to the degree usually associated with     ownership nor effective control over the goods sold;
-  the amount of revenue can be measured reliably;
-  it is probable that the Group will receive the consideration due under the transaction; and
-  the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold buildings
-
2.5% straight line
Plant and machinery
-
10% - 20% straight line
Fixtures and fittings
-
10% - 33% straight line
Computer equipment
-
10% - 33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

Page 17

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.9

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Statement of Financial Position when the Group becomes party to the contractual provisions of the instrument.

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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Page 18

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 19

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.11

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP
The functional and presentational currency of Rotex Japan Limited, the company's subsidiary, is the Japanese Yen (JPY). On consolidation, the subsidiary's balances are translated into GBP, and any movements on translation are recognised in other comprehensive income.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Consolidated Statement of Comprehensive Income.

 
2.12

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.13

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Group in independently administered funds.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.15

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 20

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Current and deferred taxation

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

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 and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
-  The recognition of deferred tax assets is limited to the extent that it is probable that they will be     recovered against the reversal of deferred tax liabilities or other future taxable profits;
-  Any deferred tax balances are reversed if and when all conditions for retaining associated tax      allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 21

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Preparation of the financial statements requires management to make significant judgements and estimates that affect amounts recognised for assets and liabilities at the reporting date and the amounts of revenue and expenses incurred during the reporting period. Actual outcomes may differ from these judgements, estimates and assumptions. The judgements, estimates and assumptions that have the most significant effect on the carrying value of assets and liabilities of the Group and Company as at 30 September 2024 are discussed below:
Doubtful debtors
Management reviews aged debts regularly and makes appropriate provision where recovery of the debt is considered doubtful. Amounts charged in respect of doubtful debts are disclosed in note 13. At the balance sheet date, an amount of £574,942 (2023: £688,976) was recognised on the group's balance sheet in respect of doubtful debts. 
Stock provisions
Management reviews stock turnover on a regular basis, and makes appropiate provision for items where the net realisable value is lower than cost. Amounts charged in respect of stock provisions and associated carrying amounts at the balance sheet date are disclosed in note 12. Significant movements took place during the prior year due to activity with Russian and Belarusian entities being affected as a result of the Russian invasion of Ukraine. The outcome of these remains uncertain at this time.
Warranty provision
Management makes estimates of warranty provisions based on expected costs required to make good faults of which the group is aware. Such provisions are calculated based on the judgements made by the quality managers. At the balance sheet date, the group and company have recognised a warranty provision of £406,377 (2023: £385,007), and movements on warranty provisions are disclosed in note 17.


4.


Turnover

The whole of the turnover is attributable to the principal activity of the group as described in note 1.

Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
2,204,304
2,484,759

Rest of Europe
11,694,043
9,892,286

Rest of the world
9,740,912
5,731,516

23,639,259
18,108,561


Page 22

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

5.


Operating profit

The operating profit is stated after charging/(crediting):

2024
2023
£
£

Research & development charged as an expense
255
12,950

Exchange differences
723,276
633,696

Other operating lease rentals
80,187
94,850


6.


Auditors' remuneration

During the year, the Group obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements
28,000
26,880

Fees payable to the Company's auditors and their associates in respect of:
All other services

Accounts and taxation compliance services
13,700
13,320


7.


Employees

Staff costs were as follows:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Wages and salaries
2,516,940
2,820,468
2,401,164
2,698,760

Social security costs
274,057
261,051
258,336
244,932

Cost of defined contribution scheme
90,883
83,350
90,883
83,350

2,881,880
3,164,869
2,750,383
3,027,042

The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2024
        2023
        2024
        2023
            No.
            No.
            No.
            No.









Shop floor staff
11
10
11
10



Administration and office staff
34
35
32
32

45
45
43
42

Page 23

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

8.


Bank Interest receivable

2024
2023
£
£


Other interest receivable
692,869
371,099


9.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
1,055,861
535,490

Foreign tax


Foreign tax on income for the year
251,593
53,788

Total current tax
1,307,454
589,278

Deferred tax


Origination and reversal of timing differences
6,361
(10,963)

Total deferred tax
6,361
(10,963)


Tax on profit
1,313,815
578,315
Page 24

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024
 
9.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 25%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
4,873,278
2,515,581


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)
1,218,320
628,895

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
9,074
7,897

Changes in provisions leading to an increase (decrease) in the tax charge
6,035
-

Changes in tax rates
-
(70,348)

Double taxation relief
(174,095)
(41,054)

Other differences leading to an increase / (decrease) in the tax charge
2,888
(863)

Corporate taxes payable overseas
251,593
53,788

Total tax charge for the year
1,313,815
578,315


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 25

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

10.


Tangible fixed assets

Group






Freehold property
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
1,498,186
760,643
349,694
10,498
2,619,021


Additions
-
9,086
-
2,739
11,825


Disposals
-
-
(800)
-
(800)



At 30 September 2024

1,498,186
769,729
348,894
13,237
2,630,046



Depreciation


At 1 October 2023
619,137
758,930
348,196
10,092
1,736,355


Charge for the year on owned assets
29,433
10,799
521
883
41,636


Disposals
-
-
(800)
-
(800)



At 30 September 2024

648,570
769,729
347,917
10,975
1,777,191



Net book value



At 30 September 2024
849,616
-
977
2,262
852,855



At 30 September 2023
879,049
1,713
1,498
406
882,666

Page 26

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

           10.Tangible fixed assets (continued)


Company






Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£

Cost or valuation


At 1 October 2023
1,498,186
760,643
346,060
2,604,889


Additions
-
9,086
-
9,086



At 30 September 2024

1,498,186
769,729
346,060
2,613,975



Depreciation


At 1 October 2023
619,137
758,930
346,060
1,724,127


Charge for the year on owned assets
29,433
10,799
-
40,232



At 30 September 2024

648,570
769,729
346,060
1,764,359



Net book value



At 30 September 2024
849,616
-
-
849,616



At 30 September 2023
879,049
1,713
-
880,762

Included in freehold property is freehold land at a cost of £300,000 (2023: £300,000) which is not depreciated.






Page 27

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

11.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 October 2023
30,000



At 30 September 2024
30,000





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

Rotex Japan Limited
Ordinary
100%

The registered office of Rotex Japan Limited is the same as the company's as detailed in note 1. The results of Rotex Japan Limited are included in the financial statements. The trading address of Rotex Japan Limited is CB-3F MBP, Makuhari Techno-Garden, 1-3 Nakase, Chiba, Japan, 261-0023.


12.


Stocks

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Raw materials and consumables
1,381,456
1,763,534
1,374,293
1,746,603

Finished goods
1,066,906
1,019,696
948,402
1,019,696

2,448,362
2,783,230
2,322,695
2,766,299


The carrying value of stocks are stated net of impairment losses totalling £197,853 (2023 - £284,758). Debits to impairment losses of  £124,907 (2023 - £108,147) were recognised in profit and loss.

Page 28

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

13.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
4,502,943
4,068,039
3,324,469
3,408,697

Amounts owed by group undertakings
605,405
89,540
1,761,482
659,697

Other debtors
872,184
489,098
872,184
489,098

Prepayments and accrued income
189,842
61,351
168,888
38,157

Deferred taxation
190,118
196,479
190,118
196,479

6,360,492
4,904,507
6,317,141
4,792,128



14.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
20,155,126
15,648,045
19,357,693
15,017,241

Less: bank overdrafts
(34,259)
-
(34,259)
-

20,120,867
15,648,045
19,323,434
15,017,241



15.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank overdrafts
34,259
-
34,259
-

Payments received on account
1,456,810
1,036,506
1,221,099
859,430

Trade creditors
1,468,750
1,263,423
1,468,750
1,263,423

Amounts owed to group undertakings
1,996,464
1,268,011
1,995,837
1,227,499

Corporation tax
653,411
69,720
427,332
56,941

Other taxation and social security
68,967
68,101
62,583
63,380

Other creditors
20,165
29,132
20,165
26,871

Accruals and deferred income
815,255
736,717
765,636
711,358

6,514,081
4,471,610
5,995,661
4,208,902


Bank overdrafts are not directly secured over the assets of the company.

Page 29

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

16.


Deferred taxation


Group



2024
2023


£

£






At beginning of year
196,479
185,516


Charged to profit or loss
(6,361)
10,963



At end of year
190,118
196,479

Company


2024
2023


£

£






At beginning of year
196,479
185,516


Charged to profit or loss
(6,361)
10,963



At end of year
190,118
196,479

The deferred tax asset is made up as follows:

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Accelerated capital allowances
14,080
14,406
14,080
14,406

Deductible as paid
176,038
182,073
176,038
182,073

190,118
196,479
190,118
196,479

Page 30

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

17.


Provisions


Group



Warranty provision

£





At 1 October 2023
385,007


Charged to profit or loss
404,377


Utilised in year
(383,007)



At 30 September 2024
406,377

Company


Warranty provision
Total

£
£





At 1 October 2023
385,007
385,007


Charged to profit or loss
404,377
404,377


Utilised in year
(383,007)
(383,007)



At 30 September 2024
406,377
406,377

Warranty Provision
A provision of £406,377 (2023: £385,007) has been recognised for expected warranty claims on machines sold. It is expected that most of this expenditure will be incurred within two years of the balance sheet date.


18.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


Page 31

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

19.


Reserves

Share premium account
The share premium account comprises the value of premiums paid on the issue of share capital.
Other reserves
The foreign exchange reserve comprises differences arising on translation of subsidiaries that operate overseas from their functional currency.
Profit and loss account
The profit and loss account comprises all current and prior year profits and losses, net of dividends paid.


20.


Contingent liabilities

Bank Guarantees
The company provides bank guarantees for warranties given on the sale of some machines. These are approximately 10% of the total value of the machine sold and the customer can make a claim under the terms of the guarantee directly from the bank.
The company has also given a bank guarantee of £200,000 (
2023: £200,000) to HM Revenue and Customs, which is included below.
As at 30 September 2024 the total value of bank guarantees is given as follows:

2024
2023
£
£
Within one year

538,279

1,108,267
 
Between one and five years

558,938

841,916
 
1,097,217

1,950,183
 


21.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £90,883 (2023: £83,350). Contributions totalling £Nil (2023: £Nil) were payable to the fund at the reporting date.

Page 32

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

22.


Commitments under operating leases

At 30 September 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2024
2023
£
£

Land and Building

Not later than 1 year
11,054
11,623


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Other

Not later than 1 year
16,860
18,399
11,004
17,193

Later than 1 year and not later than 5 years
34,133
27,548
15,589
27,548

50,993
45,947
26,593
44,741


23.


Related party transactions

As permitted by FRS 102 - section 33, the company has not disclosed transactions between wholly owned subsidiaries.
Key management remuneration during the year totalled £474,358 
(2023: £533,655).
The following transactions have taken place during the current accounting period between the company and other companies that are owned within the group controlled by the ultimate parent company, Hillenbrand Inc:
Type 1  Parties which have control over the entity
Type 2  Fellow subsidiaries with no direct control over the entity

2024
 
Sales/Income
2024
 
Purchases
2024
Debtor/
(Creditor)
2023
 
Sales/Income
2023
 
Purchases
2023
Debtor/
(Creditor)
        £
        £
        £
        £
        £
        £

Type 1

-

(1,114,034)

(755,637)
 
-
 
(505,715)

(566,367)

Type 2

2,042,631

(4,518,871)

(634,795)
 
1,082,539
 
(3,417,807)

(571,591)


Page 33

 
Rotex Europe Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 30 September 2024

24.


Ultimate parent undertaking and controlling party

The immediate parent undertaking is Coperion K-Tron (Schweiz) GMBH, a company incorporated in Germany. 
The ultimate parent undertaking is Hillenbrand Inc, a company listed on the New York Stock Exchange, incorporated in Batesville, Indiana, United States of America, and the group headed by this company is the largest group within which the results of the Group are consolidated.

 
Page 34