| Rotite Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from royalties. Royalty income paid for the use of the company's assets (e.g.: patents) is recognised in accordance with the substance of the agreement. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
over 4 years |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the company |
2 |
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1 |
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| 3 |
Intangible fixed assets |
£ |
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Intellectual property: |
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Cost |
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At 1 April 2024 |
173,523 |
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At 31 March 2025 |
173,523 |
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Amortisation |
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At 1 April 2024 |
75,688 |
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Provided during the year |
8,677 |
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At 31 March 2025 |
84,365 |
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Net book value |
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At 31 March 2025 |
89,158 |
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At 31 March 2024 |
97,835 |
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Intangible assets relate to costs incurred in patenting intellectual property. Intellectual property has not been revalued to reflect the open market value as an accurate valuation is not available. The assets are amortised over 20 years to reflect the term of the patents. |
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| 4 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
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Cost |
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At 1 April 2024 |
27,510 |
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Additions |
8,299 |
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At 31 March 2025 |
35,809 |
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Depreciation |
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At 1 April 2024 |
20,370 |
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Charge for the year |
7,902 |
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At 31 March 2025 |
28,272 |
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Net book value |
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At 31 March 2025 |
7,537 |
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At 31 March 2024 |
7,140 |
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| 5 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
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Cost |
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At 31 March 2025 |
- |
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Historical cost |
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At 1 April 2024 |
1 |
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At 31 March 2025 |
1 |
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The company is the beneficial owner of 100% of the issued share capital of Rotite Technologies Ltd, a company registered in England & Wales with company number 08012522 and registered office at Suite 1e Maclaren House, Lancastrian Office Centre, Manchester, M32 0FP. Rotite Technologies Ltd ceased trading in a prior period and is insolvent so the value has been impaired to £nil. |
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| 6 |
Debtors |
2025 |
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2024 |
| £ |
£ |
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Trade debtors |
49,147 |
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- |
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Other debtors |
27,679 |
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2 |
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76,826 |
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2 |
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| 7 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
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Obligations under finance lease and hire purchase contracts |
- |
|
32,627 |
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Trade creditors |
38,098 |
|
36,865 |
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Other taxes and social security costs |
14,848 |
|
15,872 |
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Other creditors |
7,453 |
|
15,514 |
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60,399 |
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100,878 |
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| 8 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Stuart McKinlay Burns |
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|
(6,522) |
|
9,685 |
|
(1,857) |
|
1,306 |
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(6,522) |
|
9,685 |
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(1,857) |
|
1,306 |
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| 9 |
Related party transactions |
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Unsecured, interest free loans were advanced to and repaid by Stuart McKinlay Burns during the period. The amount due to Rotite Ltd at the period end was £1,306 (2024: £6,522 owed from the company). |
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| 10 |
Controlling party |
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There is no overall controlling party. |
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| 11 |
Other information |
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Rotite Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
International House |
|
61 Mosley Street |
|
Manchester |
|
M2 3HZ |