Company registration number SC320782 (Scotland)
RB SAFETY CONSULTANTS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
RB SAFETY CONSULTANTS LIMITED
CONTENTS
Page
Company information
1
Strategic report
2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 20
RB SAFETY CONSULTANTS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr A Skinner
Mr A Beautyman
Mr D Graham
Company number
SC320782
Registered office
C/O Consilium Chartered Accountants
169 West George Street
Glasgow
United Kingdom
G2 2LB
Auditor
Consilium Audit Limited
169 West George Street
Glasgow
Scotland
G2 2LB
RB SAFETY CONSULTANTS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -

The directors present the strategic report for the year ended 30 April 2024.

Review of the business

This year has been another strong year for the company delivering growth and resilience, both financial and organisational, in line with our strategic targets. During the period revenue has increased by 19% to £11.54 million with an associated increase in profit over the previous year.

Principal risks and uncertainties

The Directors have assessed the two main risks to the company over the next trading period as general UK economic uncertainty and competition from other companies within the Defence and Energy domains. The Board considers that the quality of our personnel, the company’s reputation, financial resilience and our strategic approach will mitigate these risks.

Financial Risk Management

The company continues to deliver strong self-funded growth, with a key focus on financial resilience through retained earnings and revenue streams.

Summary

The Directors are delighted with this year’s performance and believe that the opportunities for the next financial year provide exciting prospects for further continued growth against our strategic objectives.

On behalf of the board

Mr A Skinner
Director
30 January 2025
RB SAFETY CONSULTANTS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -

The directors present their annual report and financial statements for the year ended 30 April 2024.

Principal activities

The principal activity of the company continued to be that of business management and consultancy.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £187,501 (2023; £1,612,390). The directors do not recommend payment of a further dividend.

Directors

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

Mr A Skinner
Mr A Beautyman
Mr D Graham
Mr C Steel
(Resigned 3 May 2024)
Auditor

Consilium Audit Limited were appointed as auditor to the company and are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

RB SAFETY CONSULTANTS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
On behalf of the board
Mr A Skinner
Director
30 January 2025
RB SAFETY CONSULTANTS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF RB SAFETY CONSULTANTS LIMITED
- 5 -
Opinion

We have audited the financial statements of RB Safety Consultants Limited (the 'company') for the year ended 30 April 2024 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

RB SAFETY CONSULTANTS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF RB SAFETY CONSULTANTS LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

 

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

 

 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence.

 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

RB SAFETY CONSULTANTS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF RB SAFETY CONSULTANTS LIMITED
- 7 -

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters which we are required to address

As the company claimed exemption from audit in the previous year, the comparative figures in the financial statements are unaudited.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

David Holt
Senior Statutory Auditor
For and on behalf of Consilium Audit Limited
Statutory Auditor
169 West George Street
Glasgow
Scotland
G2 2LB
30 January 2025
RB SAFETY CONSULTANTS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
2024
2023
as restated
Notes
£
£
Turnover
3
11,535,888
9,695,306
Cost of sales
(7,963,640)
(7,002,659)
Gross profit
3,572,248
2,692,647
Administrative expenses
(1,545,134)
(1,499,658)
Operating profit
4
2,027,114
1,192,989
Interest receivable and similar income
8
29,215
6,366
Interest payable and similar expenses
9
-
0
(1,024)
Profit before taxation
2,056,329
1,198,331
Tax on profit
10
(152,354)
308,909
Profit for the financial year
1,903,975
1,507,240

The profit and loss account has been prepared on the basis that all operations are continuing operations.

The notes on pages 11 to 20 form part of these financial statements.

RB SAFETY CONSULTANTS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 9 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
12
6,209
30,842
Current assets
Stocks
13
906,274
836,447
Debtors
14
1,621,913
2,195,870
Cash at bank and in hand
4,861,656
2,840,358
7,389,843
5,872,675
Creditors: amounts falling due within one year
15
(2,789,868)
(3,007,649)
Net current assets
4,599,975
2,865,026
Total assets less current liabilities
4,606,184
2,895,868
Provisions for liabilities
Deferred tax liability
16
1,552
7,710
(1,552)
(7,710)
Net assets
4,604,632
2,888,158
Capital and reserves
Called up share capital
18
2,012
2,012
Share premium account
6,845
6,845
Capital redemption reserve
606
606
Profit and loss reserves
4,595,169
2,878,695
Total equity
4,604,632
2,888,158

The notes on pages 11 to 20 form part of these financial statements.

The financial statements were approved by the board of directors and authorised for issue on 30 January 2025 and are signed on its behalf by:
Mr A Skinner
Director
Company Registration No. SC320782
RB SAFETY CONSULTANTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024
- 10 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
As restated for the period ended 30 April 2023:
Balance at 1 May 2022
2,012
6,845
606
2,983,845
2,993,308
Year ended 30 April 2023:
Profit and total comprehensive income for the year
-
-
-
1,507,240
1,507,240
Dividends
11
-
-
-
(1,612,390)
(1,612,390)
Balance at 30 April 2023
2,012
6,845
606
2,878,695
2,888,158
Year ended 30 April 2024:
Profit and total comprehensive income for the year
-
-
-
1,903,975
1,903,975
Dividends
11
-
-
-
(187,501)
(187,501)
Balance at 30 April 2024
2,012
6,845
606
4,595,169
4,604,632

The notes on pages 11 to 20 form part of these financial statements.

RB SAFETY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 11 -
1
Accounting policies
Company information

RB Safety Consultants Limited is a private company limited by shares incorporated in Scotland. The registered office is C/O Consilium Chartered Accountants, 169 West George Street, Glasgow, United Kingdom, G2 2LB. The company's registration number is SC320782.

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.

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of RBSC Group Limited. These consolidated financial statements are available from its registered office.

 

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

RB SAFETY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 12 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
- 25% straight line
Computers
- 33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Work in progress is valued at the lower of cost and net realisable value.

 

Costs includes amounts for labour, materials and appropriate overheads. Net realisable value is based on estimated invoice price less further costs expected to be incurred to completion and disposal.

1.7
Cash and cash equivalents

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.

1.8
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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in the profit and loss account, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

RB SAFETY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 13 -
Impairment of financial assets

Financial assets, other than those held at fair value through the profit and loss account are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the profit and loss account.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the profit and loss account.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in the profit and loss account in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit and loss account. Debt instruments may be designated as being measured at fair value through the profit and loss account to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
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.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

RB SAFETY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 14 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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.

 

In preparing the financial statements the directors have made the following key judgements:

 

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
11,535,887
9,695,306
RB SAFETY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
3
Turnover and other revenue
(Continued)
- 15 -
2024
2023
£
£
Other revenue
Interest income
29,215
6,366
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Depreciation of owned tangible fixed assets
32,533
21,262
Profit on disposal of tangible fixed assets
-
(525)
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
15,500
-
0
6
Employees

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

2024
2023
82
79

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
6,364,087
6,277,143
Social security costs
898,091
800,830
Pension costs
1,132,712
537,448
8,394,890
7,615,421
RB SAFETY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 16 -
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
742,829
796,611
Company pension contributions to defined contribution schemes
57,071
52,950
799,900
849,561
Remuneration disclosed above include the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
243,961
240,491
Company pension contributions to defined contribution schemes
7,921
41,675
8
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
29,215
3,659
Other interest income
-
0
2,707
Total income
29,215
6,366
9
Interest payable and similar expenses
2024
2023
£
£
Other interest
-
0
1,024
10
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
137,835
(307,482)
Adjustments in respect of prior periods
20,677
1,150
Total current tax
158,512
(306,332)
Deferred tax
Origination and reversal of timing differences
(6,158)
(2,577)
Total tax charge/(credit)
152,354
(308,909)
RB SAFETY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
10
Taxation
(Continued)
- 17 -

The actual charge/(credit) for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
2,056,329
1,198,331
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
514,082
227,683
Tax effect of expenses that are not deductible in determining taxable profit
2,586
4,438
Unutilised tax losses carried forward
-
0
(13,876)
Adjustments in respect of prior years
20,678
1,150
Research and development tax credit
(384,992)
(604,496)
Difference between CT rate and loss surrender rate for R&D
-
0
83,851
Other movements
-
0
(7,659)
Taxation charge/(credit) for the year
152,354
(308,909)
11
Dividends
2024
2023
£
£
Final paid
187,501
1,612,390
12
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 May 2023
9,879
74,758
84,637
Additions
-
0
7,900
7,900
At 30 April 2024
9,879
82,658
92,537
Depreciation and impairment
At 1 May 2023
9,879
43,916
53,795
Depreciation charged in the year
-
0
32,533
32,533
At 30 April 2024
9,879
76,449
86,328
Carrying amount
At 30 April 2024
-
0
6,209
6,209
At 30 April 2023
-
0
30,842
30,842
RB SAFETY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 18 -
13
Stocks
2024
2023
£
£
Work in progress
906,274
836,447
14
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,490,136
1,382,839
Corporation tax recoverable
-
0
697,240
Other debtors
105,022
70,175
Prepayments and accrued income
26,755
45,616
1,621,913
2,195,870
15
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
39,653
68,534
Amounts owed to group undertakings
898,760
1,100,000
Corporation tax
80,018
-
0
Other taxation and social security
819,400
810,859
Other creditors
15,638
56,809
Accruals and deferred income
936,399
971,447
2,789,868
3,007,649
16
Deferred taxation

The following are the major deferred tax liabilities recognised by the company and movements thereon:

2024
2023
Balances:
£
£
Accelerated capital allowances
1,552
7,710
2024
Movements in the year:
£
Liability at 1 May 2023
7,710
Credit to profit or loss
(6,158)
Liability at 30 April 2024
1,552
RB SAFETY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 19 -
17
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
1,132,712
537,448

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

18
Share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
2,000 Ordinary shares of £1
2,000
2,000
12 Ordinary C shares of £1
12
12
2,012
2,012

Both classes of share rank pari passu in all respects.

19
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Other information

The company has taken the advantage of exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.

 

Included within other debtors is an amount totalling £56,000 (2023 - £70,000) due from a director. The loan is interest free and repayable on demand.

 

No further transactions with related parties were undertaken such as are required to be disclosed under the provisions of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

20
Ultimate controlling party

The ultimate controlling party is Andrew Beautyman, by virtue of his majority ownership in the company's parent undertaking, RBSC Group Limited.

RB SAFETY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 20 -
21
Prior period adjustment
Changes to the balance sheet
As previously reported
Adjustment
As restated at 30 Apr 2023
£
£
£
Current assets
Debtors due within one year
2,138,054
57,816
2,195,870
Creditors due within one year
Creditors
(2,776,384)
(231,265)
(3,007,649)
Net assets
2,250,748
(173,449)
2,077,299
Capital and reserves
Profit and loss reserves
3,052,144
(173,449)
2,878,695
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 30 April 2023
£
£
£
Cost of sales
(6,771,394)
(231,265)
(7,002,659)
Taxation
251,093
57,816
308,909
Profit for the financial period
1,680,689
(173,449)
1,507,240
Notes to reconciliation

During the year it was discovered that some items expensed in the year to 30 April 2024 should have been accrued into the year ended 30 April 2023. The above adjustment reflects the correction of these amounts.

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