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REGISTERED NUMBER: 02628220 (England and Wales)















Audited Financial Statements for the Year Ended 31 May 2024

for

R & B Switchgear Services Limited

R & B Switchgear Services Limited (Registered number: 02628220)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


R & B Switchgear Services Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: M S Beswick
M E Beswick





SECRETARY: M S Beswick





REGISTERED OFFICE: Switchgear House
The Courtyard, Green Lane
Heywood
Rochdale
Lancashire
OL10 2EX





REGISTERED NUMBER: 02628220 (England and Wales)





AUDITORS: PKW Chartered Accountants LLP
Cloth Hall
150 Drake Street
Rochdale
Lancashire
OL16 1PX

R & B Switchgear Services Limited (Registered number: 02628220)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,076,213 789,238

CURRENT ASSETS
Stocks 5 624,853 1,639,418
Debtors 6 3,424,880 2,541,636
Cash at bank 138,977 1,084,107
4,188,710 5,265,161
CREDITORS
Amounts falling due within one year 7 2,254,022 3,480,882
NET CURRENT ASSETS 1,934,688 1,784,279
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,010,901

2,573,517

CREDITORS
Amounts falling due after more than one year 8 - (83,438 )

PROVISIONS FOR LIABILITIES (88,555 ) (52,875 )
NET ASSETS 2,922,346 2,437,204

CAPITAL AND RESERVES
Called up share capital 150 150
Capital redemption reserve 50 50
Retained earnings 2,922,146 2,437,004
SHAREHOLDERS' FUNDS 2,922,346 2,437,204

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:





M E Beswick - Director


R & B Switchgear Services Limited (Registered number: 02628220)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

R & B Switchgear 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.

Preparation of consolidated financial statements
The financial statements contain information about R & B Switchgear Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the value of goods and services supplied to customers during the year less returns and net of value added tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant, machinery & computers - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% per annum reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

R & B Switchgear Services Limited (Registered number: 02628220)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 96 (2023 - 66 ) .

4. TANGIBLE FIXED ASSETS
Improvements Plant, Fixtures
to machinery and Motor
property & computers fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 187,590 802,308 31,310 489,170 1,510,378
Additions 172,053 84,237 21,939 199,804 478,033
At 31 May 2024 359,643 886,545 53,249 688,974 1,988,411
DEPRECIATION
At 1 June 2023 4,199 486,374 25,042 205,525 721,140
Charge for year 12,075 68,095 1,215 109,673 191,058
At 31 May 2024 16,274 554,469 26,257 315,198 912,198
NET BOOK VALUE
At 31 May 2024 343,369 332,076 26,992 373,776 1,076,213
At 31 May 2023 183,391 315,934 6,268 283,645 789,238

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023 221,169
Additions 199,803
At 31 May 2024 420,972
DEPRECIATION
At 1 June 2023 68,184
Charge for year 56,210
At 31 May 2024 124,394
NET BOOK VALUE
At 31 May 2024 296,578
At 31 May 2023 152,985

R & B Switchgear Services Limited (Registered number: 02628220)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. STOCKS
2024 2023
£    £   
Stocks 100,000 100,000
Work-in-progress 524,853 1,539,418
624,853 1,639,418

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,175,333 2,366,747
Amounts owed by group undertakings 1,015,382 70,490
Other debtors 234,165 104,399
3,424,880 2,541,636

Amounts owed to group undertakings are unsecured, interest free, have no fixed date
of repayment and are repayable on demand

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 18,055 28,703
Hire purchase contracts 290,562 72,611
Trade creditors 1,248,006 2,092,335
Amounts owed to group undertakings 185,372 254,571
Taxation and social security 221,841 65,130
Other creditors 290,186 967,532
2,254,022 3,480,882

Amounts owed to group undertakings are unsecured, interest free, have no fixed date
of repayment and are repayable on demand

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 83,438

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 290,562 156,049

The hire purchase creditor is secured on the asset to which it relates.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Lawson Wild (Senior Statutory Auditor)
for and on behalf of PKW Chartered Accountants LLP

R & B Switchgear Services Limited (Registered number: 02628220)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

11. RELATED PARTY DISCLOSURES

Included within debtors due within one year is a balance of £116,288.06 (2023: £116,288.06) owed from R&B Switchgear (Singapore) Pte. Ltd a company which M Beswick has a controlling interest.

12. ULTIMATE PARENT COMPANY

R & B Switchgear Group Ltd ( formerly R & B Switchgear (Holdings) Ltd ) is the company's holding company.

On 07/11/2023, the entire share capital of R & B Switchgear Group Ltd ( formerly R & B Switchgear (Holdings) Ltd ) was acquired by R & B Switchgear Holdings Ltd.