|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audited Financial Statements |
|
for the Year Ended 31 December 2018 |
|
for |
|
Rotorsport Uk Ltd |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audited Financial Statements |
|
for the Year Ended 31 December 2018 |
|
for |
|
Rotorsport Uk Ltd |
Rotorsport Uk Ltd (Registered number: 05486550) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the year ended 31 December 2018 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 4 |
|
Rotorsport Uk Ltd |
|
Company Information |
for the year ended 31 December 2018 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
SECRETARY: |
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
AUDITORS: |
|
Chartered Accountants and Statutory Auditor |
Emstrey House |
Shrewsbury Business Park |
Shrewsbury |
Shropshire |
SY2 6LG |
|
|
|
BANKERS: |
|
1 Broad Street |
Leominster |
Herefordshire |
HR68BU |
Rotorsport Uk Ltd (Registered number: 05486550) |
|
Statement of Financial Position |
31 December 2018 |
|
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
|
|
Tangible assets | 6 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 7 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 8 |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
|
( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
|
|
Rotorsport Uk Ltd (Registered number: 05486550) |
|
Statement of Financial Position - continued |
31 December 2018 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director on
|
|
|
|
|
|
|
|
Rotorsport Uk Ltd (Registered number: 05486550) |
|
Notes to the Financial Statements |
for the year ended 31 December 2018 |
|
1. | STATUTORY INFORMATION |
|
Rotorsport Uk Ltd is a
|
company's registered number and registered office address can be found on the Company Information |
page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
|
Development expenditure |
Development expenditure is normally written off in the year of expenditure, however expenditure |
incurred on specific projects is capitalised when recoverability can be foreseen with reasonable certainty |
and is amortised in relation to sales from such projects. |
|
Tangible fixed assets |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
|
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 statement of financial position date. |
|
Rotorsport Uk Ltd (Registered number: 05486550) |
|
Notes to the Financial Statements - continued |
for the year ended 31 December 2018 |
|
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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. |
|
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
|
|
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position 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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | AUDITORS' REMUNERATION |
2018 | 2017 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's
financial statements |
1,400 |
1,400 |
Rotorsport Uk Ltd (Registered number: 05486550) |
|
Notes to the Financial Statements - continued |
for the year ended 31 December 2018 |
|
5. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2018 |
and 31 December 2018 |
|
AMORTISATION |
At 1 January 2018 |
|
Charge for year |
|
At 31 December 2018 |
|
NET BOOK VALUE |
At 31 December 2018 |
|
At 31 December 2017 |
|
|
6. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 January 2018 |
|
|
|
Additions |
|
|
|
At 31 December 2018 |
|
|
|
DEPRECIATION |
At 1 January 2018 |
|
|
|
Charge for year |
|
|
|
At 31 December 2018 |
|
|
|
NET BOOK VALUE |
At 31 December 2018 |
|
|
|
At 31 December 2017 |
|
|
|
Rotorsport Uk Ltd (Registered number: 05486550) |
|
Notes to the Financial Statements - continued |
for the year ended 31 December 2018 |
|
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
Rotorsport Uk Ltd (Registered number: 05486550) |
|
Notes to the Financial Statements - continued |
for the year ended 31 December 2018 |
|
10. | RELATED PARTY DISCLOSURES |
|
During the year rent of £6,000 (2017 £6,000) was paid to Mr G Speich, the company director, and his wife |
Mrs J Speich. |
|
Within other creditors is a balance due to the director of £623 (2017: £2,047). This balance is interest free |
and is repayable on demand. |
|
The company provided services to the value of £269,382 (2017 £248,163) to AutoGyro GmbH, a company |
that is under the common control of AutoGyro Advanced Concepts Holding AG which in turn owns 100% |
of the issued share capital of Rotorsport UK Limited. At the balance sheet date AutoGyro GmbH owed |
Rotorsport UK Limited £nil (2017 £58,076). During the year the company purchased goods from AutoGyro |
GmbH to the value of £nil (2017 £275,116). At the balance sheet date the company owed AutoGyro GmbH |
£Nil (2017 £Nil). |
|
Within creditors is a loan of £10,636 (2017 £10,636) due to AutoGyro GmbH. |
|
During the year the company sold goods to the value of £nil (2017 £280,246) to AutoGyro USA, a company |
that is owned by AutoGyro GmbH. At the balance sheet date AutoGyro USA owed Rotorsport UK Limited |
£Nil (2017 £Nil). At the balance sheet date Rotorsport UK Limited owed AutoGyro USA £Nil (2017 £nil). |
|
During the year the company provided sales and services to Rotorsport Sales and Services Limited to the |
value of £18,687 (2017 £11,333), a company controlled by Mr G Speich, a director of the company and |
Mrs J Speich. At the year end Rotorsport Sales and Services Limited owed Rotorsport UK Limited £Nil |
(2017 £Nil). During the year the company purchased goods and services from Rotorsport Sales and |
Services Limited to the value of £18,133 (2017 £11,290). At the year end Rotorsport UK Limited owed |
Rotorsport Sales and Services Limited £nil (2017 £5,968). |
|
Included in other creditors is a balance of £1,328 (2017 £9,560) owing to Rotorsports Sales and Services |
Limited. |
|
11. | ULTIMATE CONTROLLING PARTY |
|
The controlling party is AutoGyro Advanced Concepts Holding AG, a company incorporated in Switzerland |
and which holds a 100% interest in the shareholding of the company.The registered office of the parent |
company is Balz-Zimmermann-Strasse 7, Kloten 8302. |
|
12. | ULTIMATE PARENT UNDERTAKING |
|
The ultimate holding company is Gyro Invest Holding AG, a company incorporated in Switzerland, which is |
a majority shareholder in AutoGyro Advanced Concepts Holding AG, which in turn owns 100% of the |
issued share capital of Rotorsport UK Limited. |