Company registration number 05438171 (England and Wales)
RACKING INSPECTION SAFETY CONSULTANTS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
RACKING INSPECTION SAFETY CONSULTANTS LIMITED
COMPANY INFORMATION
Director
Mr R Bentall
Company number
05438171
Registered office
Unit 5
Attleborough Fields Industrial Estate
Nuneaton
Warwickshire
CV11 6RX
Accountants
Afford Bond Holdings Limited
31 Wellington Road
Nantwich
Cheshire
CW5 7ED
RACKING INSPECTION SAFETY CONSULTANTS LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Balance sheet
3
Notes to the financial statements
4 - 5
RACKING INSPECTION SAFETY CONSULTANTS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The director presents his annual report and financial statements for the year ended 31 March 2024.

Principal activities

The company is dormant.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr R Bentall
Results and dividends

The company has not traded during the year.

Director's interests

The director's interest in the shares of the company was as stated below:

Ordinary equity shares of £1 each
31 March 2024
31 March 2023
Mr R Bentall
100
100

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr R Bentall
Director
10 July 2024
RACKING INSPECTION SAFETY CONSULTANTS LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RACKING INSPECTION SAFETY CONSULTANTS LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Racking Inspection Safety Consultants Limited for the year ended 31 March 2024 set out on pages 3 to 5 from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Racking Inspection Safety Consultants Limited, as a body, in accordance with the terms of our engagement letter dated 1 January 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Racking Inspection Safety Consultants Limited and state those matters that we have agreed to state to the board of directors of Racking Inspection Safety Consultants Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Racking Inspection Safety Consultants Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Racking Inspection Safety Consultants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Racking Inspection Safety Consultants Limited. You consider that Racking Inspection Safety Consultants Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Racking Inspection Safety Consultants Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Afford Bond Holdings Limited
10 July 2024
Chartered Accountants
31 Wellington Road
Nantwich
Cheshire
CW5 7ED
RACKING INSPECTION SAFETY CONSULTANTS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 3 -
2024
2023
Notes
£
£
£
£
Current assets
Cash at bank and in hand
100
100
Net current assets
100
100
Capital and reserves
Called up share capital
4
100
100

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 10 July 2024
Mr R Bentall
Director
Company Registration No. 05438171
RACKING INSPECTION SAFETY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Racking Inspection Safety Consultants Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5, Attleborough Fields Industrial Estate, Nuneaton, Warwickshire, CV11 6RX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.3
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

RACKING INSPECTION SAFETY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary equity shares of £1 each
100
100
100
100
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