Company Registration No. 02949672 (England and Wales)
Rovtech Solutions Limited
Unaudited accounts
for the period from 1 August 2023 to 31 December 2024
Rovtech Solutions Limited
Unaudited accounts
Contents
Rovtech Solutions Limited
Company Information
for the period from 1 August 2023 to 31 December 2024
Directors
R Aitken
S C Gray
S C Mcleod
J Polson
Company Number
02949672 (England and Wales)
Registered Office
Unit 16
Andrews Way
Burrow-In-Furness
Cumbria
LA14 2UE
United Kingdom
Accountants
Hutcheon Mearns Limited
2 Queens Road
Aberdeen
AB15 4ZT
Rovtech Solutions Limited
Statement of financial position
as at 31 December 2024
Tangible assets
27,700
37,493
Inventories
169,500
174,663
Cash at bank and in hand
38,245
44,135
Creditors: amounts falling due within one year
(304,063)
(203,413)
Net current assets
72,447
86,829
Total assets less current liabilities
100,147
124,322
Creditors: amounts falling due after more than one year
(66,439)
(105,870)
Called up share capital
10,009
10,009
Profit and loss account
23,699
8,443
Shareholders' funds
33,708
18,452
For the period ending 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2025 and were signed on its behalf by
R Aitken
Director
Company Registration No. 02949672
Rovtech Solutions Limited
Notes to the Accounts
for the period from 1 August 2023 to 31 December 2024
Rovtech Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 02949672. The registered office is Unit 16, Andrews Way, Burrow-In-Furness, Cumbria, LA14 2UE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and have been consistently applied within the accounts.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.
The accounts are presented in £ sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires the use of estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Any estimate that has a degree of uncertainty or where judgement has been exercised in a particular area is expressly disclosed within the relevant accounting policy.
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Rovtech Solutions Limited
Notes to the Accounts
for the period from 1 August 2023 to 31 December 2024
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss.
A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
20% straight line
Fixtures & fittings
20% straight line
Computer equipment
20% straight line
Stocks are measured 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 the stock to its present location and condition.
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants are received that do not yet satisfy the revenue recognition criteria, they are recognised as a liability.
Rovtech Solutions Limited
Notes to the Accounts
for the period from 1 August 2023 to 31 December 2024
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution pension plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 August 2023
370,117
31,993
65,521
-
467,631
Additions
-
-
-
1,416
1,416
At 31 December 2024
370,117
31,993
65,521
1,416
469,047
At 1 August 2023
332,624
31,993
65,521
-
430,138
Charge for the period
11,162
-
-
47
11,209
At 31 December 2024
343,786
31,993
65,521
47
441,347
At 31 December 2024
26,331
-
-
1,369
27,700
At 31 July 2023
37,493
-
-
-
37,493
Rovtech Solutions Limited
Notes to the Accounts
for the period from 1 August 2023 to 31 December 2024
Amounts falling due within one year
Trade debtors
129,298
43,761
Accrued income and prepayments
10,034
683
Other debtors
29,433
27,000
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
30,219
30,227
Trade creditors
172,106
132,571
Taxes and social security
17,153
23,972
Other creditors
570
10,248
Loans from directors
-
980
7
Creditors: amounts falling due after more than one year
2024
2023
8
Post balance sheet events
On 31 January 2025, the business acquired the trade and assets of the VALOR Remotely Operated Vehicle business. No consideration has been disclosed due to the commercially sensitive nature of this transaction.
9
Average number of employees
During the period the average number of employees was 11 (2023: 15).