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REGISTERED NUMBER: 01874086 (England and Wales)













Report of the Directors and

Unaudited Financial Statements

for the Year Ended 30 April 2024

for

R & A Kay Inspection Services Limited

R & A Kay Inspection Services Limited (Registered number: 01874086)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Report of the Directors 2

Profit and Loss Account 3

Balance Sheet 4

Statement of Changes in Equity 5

Notes to the Financial Statements 6


R & A Kay Inspection Services Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J C Reeves
W J Rowe





REGISTERED OFFICE: British Engineering Services Unit
718 Eddington Way
Birchwood Park
Warrington
WA3 6BA





REGISTERED NUMBER: 01874086 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

R & A Kay Inspection Services Limited (Registered number: 01874086)

Report of the Directors
for the Year Ended 30 April 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of inspection work at oil refineries and petrochemical installations.

DIRECTORS
J C Reeves and W J Rowe were appointed as directors after 30 April 2024 but prior to the date of this report.

D G Jarrett and P J Jackson ceased to be directors after 30 April 2024 but prior to the date of this report.

J W Lennox was appointed as a director after 30 April 2024 but later resigned as a director prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J C Reeves - Director


14 January 2025

R & A Kay Inspection Services Limited (Registered number: 01874086)

Profit and Loss Account
for the Year Ended 30 April 2024

2024 2023
Notes £    £   

TURNOVER 6,560,506 6,132,416

Cost of sales (4,807,073 ) (4,325,788 )
GROSS PROFIT 1,753,433 1,806,628

Administrative expenses (1,442,340 ) (635,738 )
311,093 1,170,890

Other operating income 4,253 6,380
OPERATING PROFIT 315,346 1,177,270

Interest receivable and similar income 3,462 13,174
318,808 1,190,444

Interest payable and similar expenses (16,060 ) (9,797 )
PROFIT BEFORE TAXATION 302,748 1,180,647

Tax on profit 4 (119,661 ) (226,298 )
PROFIT FOR THE FINANCIAL YEAR 183,087 954,349

R & A Kay Inspection Services Limited (Registered number: 01874086)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 56,295 114,363

CURRENT ASSETS
Debtors 7 1,675,656 1,467,477
Cash at bank 310,605 134,119
1,986,261 1,601,596
CREDITORS
Amounts falling due within one year 8 1,519,879 844,503
NET CURRENT ASSETS 466,382 757,093
TOTAL ASSETS LESS CURRENT
LIABILITIES

522,677

871,456

PROVISIONS FOR LIABILITIES 11 - 21,431
NET ASSETS 522,677 850,025

CAPITAL AND RESERVES
Called up share capital 12 20,000 20,000
Retained earnings 13 502,677 830,025
SHAREHOLDERS' FUNDS 522,677 850,025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:





J C Reeves - Director


R & A Kay Inspection Services Limited (Registered number: 01874086)

Statement of Changes in Equity
for the Year Ended 30 April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 20,000 711,940 731,940

Changes in equity
Profit for the year - 954,349 954,349
Total comprehensive income - 954,349 954,349
Dividends - (836,264 ) (836,264 )
Balance at 30 April 2023 20,000 830,025 850,025

Changes in equity
Profit for the year - 183,087 183,087
Total comprehensive income - 183,087 183,087
Dividends - (510,435 ) (510,435 )
Balance at 30 April 2024 20,000 502,677 522,677

R & A Kay Inspection Services Limited (Registered number: 01874086)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

R & A Kay Inspection Services Limited is a private company, limited by shares , registered in England and Wales. The 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 year, and also have been consistently applied within the same accounts.

Related party transactions
All transactions entered into with companies under common control were concluded under normal market conditions, therefore no further disclosure is necessary in accordance with FRS102 section 1A.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Income recognition
Income is recognised when the conditions contained within a contract for services have been met.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery - 3 years straight line
Fixtures and fittings - 3 years straight line
Motor vehicles - 3 years straight line
Computer equipment - 3 years straight line

Tangible fixed assets are recognised at cost less accumulated depreciation.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.


R & A Kay Inspection Services Limited (Registered number: 01874086)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Grants received
Grants received in respect of expenditure within the year are transferred to the profit and loss account during the year the expenditure is incurred.

Grants received in respect of tangible fixed assets are treated as deferred income and transferred to the profit and loss account over the expected useful life of the relevant fixed asset.

Invoice discounting
The invoice discounting creditor represents amounts received in respect of financed debts. There is full recourse to the company for losses on debts, and so the financed debts continue to be recognised on the balance sheet. Interest and other charges relating to invoice financing are recognised in the profit and loss account over the relevant period.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 45 ) .

4. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 141,092 223,097
Under/(over) provisions in
prior years - (1,273 )
Total current tax 141,092 221,824

Deferred tax (21,431 ) 4,474
Tax on profit 119,661 226,298

5. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 510,435 836,264

R & A Kay Inspection Services Limited (Registered number: 01874086)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 212,028 106,740 77,603 48,157 444,528
Additions - 12,201 12,000 - 24,201
Disposals - (92,783 ) - - (92,783 )
At 30 April 2024 212,028 26,158 89,603 48,157 375,946
DEPRECIATION
At 1 May 2023 200,728 91,300 26,098 12,039 330,165
Charge for year 7,821 10,081 29,238 26,706 73,846
Eliminated on disposal - (84,360 ) - - (84,360 )
At 30 April 2024 208,549 17,021 55,336 38,745 319,651
NET BOOK VALUE
At 30 April 2024 3,479 9,137 34,267 9,412 56,295
At 30 April 2023 11,300 15,440 51,505 36,118 114,363

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,109,068 774,553
Other debtors 36,067 36,067
Confidential invoice
discounting 83,311 493,627
Amount owed by group
undertaking 203,808 -
Directors' loan accounts 138,433 138,571
Prepayments and accrued income 104,969 24,659
1,675,656 1,467,477

Included within debtors on the balance sheet are amounts of £1,109,068 (2023: £774,553) relating to debtors held under an invoice discounting agreement.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 359,635 143,109
Taxation and social security 449,241 587,843
Other creditors 489,936 34,503
Accruals and deferred income 221,067 79,048
1,519,879 844,503

R & A Kay Inspection Services Limited (Registered number: 01874086)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 8,000 8,000
Between one and five years 667 8,667
8,667 16,667

10. SECURED DEBTS

The confidential invoice discounting is secured against related debts.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 21,431

Deferred
tax
£   
Balance at 1 May 2023 21,431
Accelerated capital allowances (21,431 )
Balance at 30 April 2024 -

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20,000 Ordinary £1 20,000 20,000

13. RESERVES
Retained
earnings
£   

At 1 May 2023 830,025
Profit for the year 183,087
Dividends (510,435 )
At 30 April 2024 502,677

R & A Kay Inspection Services Limited (Registered number: 01874086)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
D G Jarrett
Balance outstanding at start of year 138,571 138,704
Amounts advanced 3,462 3,467
Amounts repaid (3,600 ) (3,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 138,433 138,571

During the year interest was charged at 2.5%. The amount of interest paid on the loan from the director D Jarrett was £3,462 (2023: £3,467)).

15. ULTIMATE PARENT COMPANY

The immediate parent company is British Engineering Services Holdco Limited, a company incorporated in the United Kingdom. The registered address for the immediate parent company is British Engineering Services, Unit 718 Eddington Way, Birchwood Park, Warrington, United Kingdom, WA3 6BA.

The largest and smallest group in which the results of the Company are consolidated is that headed by British Engineering Services Topco 1 Limited, a company incorporated in the United Kingdom. The consolidated financial statements of British Engineering Services Topco 1 Limited are available to the public and may be obtained from the registered address, British Engineering Services, Unit 718 Eddington Way, Birchwood Park, Warrington, United Kingdom, WA3 6BA.

Funds managed by Inflexion Private Equity Partners LLP are the majority shareholders and ultimate controlling party of British Engineering Services Topco 1 Limited. The registered address of Inflexion Private Equity Partners LLP is 47 Queen Anne Street, London, W1G 9JG, United Kingdom.