RSK Business Solutions Ltd 06930271 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of consulting services in IT software solutions, business and project risk, management systems and training. Digita Accounts Production Advanced 6.30.9574.0 true 06930271 2023-04-01 2024-03-31 06930271 2024-03-31 06930271 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 06930271 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 06930271 core:CurrentFinancialInstruments 2024-03-31 06930271 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06930271 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06930271 core:Goodwill 2024-03-31 06930271 core:ConstructionInProgressAssetsUnderConstruction 2024-03-31 06930271 core:FurnitureFittings 2024-03-31 06930271 core:MotorVehicles 2024-03-31 06930271 core:OfficeEquipment 2024-03-31 06930271 bus:SmallEntities 2023-04-01 2024-03-31 06930271 bus:Audited 2023-04-01 2024-03-31 06930271 bus:FullAccounts 2023-04-01 2024-03-31 06930271 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06930271 bus:RegisteredOffice 2023-04-01 2024-03-31 06930271 bus:Director5 2023-04-01 2024-03-31 06930271 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06930271 core:Goodwill 2023-04-01 2024-03-31 06930271 core:ConstructionInProgressAssetsUnderConstruction 2023-04-01 2024-03-31 06930271 core:FurnitureFittings 2023-04-01 2024-03-31 06930271 core:LeaseholdImprovements 2023-04-01 2024-03-31 06930271 core:MotorVehicles 2023-04-01 2024-03-31 06930271 core:OfficeEquipment 2023-04-01 2024-03-31 06930271 core:KeyManagementPersonnel 2023-04-01 2024-03-31 06930271 countries:UnitedKingdom 2023-04-01 2024-03-31 06930271 2023-03-31 06930271 core:Goodwill 2023-03-31 06930271 core:ConstructionInProgressAssetsUnderConstruction 2023-03-31 06930271 core:FurnitureFittings 2023-03-31 06930271 core:MotorVehicles 2023-03-31 06930271 core:OfficeEquipment 2023-03-31 06930271 2022-04-01 2023-03-31 06930271 2023-03-31 06930271 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 06930271 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 06930271 core:CurrentFinancialInstruments 2023-03-31 06930271 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06930271 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 06930271 core:Goodwill 2023-03-31 06930271 core:ConstructionInProgressAssetsUnderConstruction 2023-03-31 06930271 core:FurnitureFittings 2023-03-31 06930271 core:MotorVehicles 2023-03-31 06930271 core:OfficeEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06930271

RSK Business Solutions Ltd

Filleted Financial Statements

for the Year Ended 31 March 2024

 

RSK Business Solutions Ltd

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 8

 

RSK Business Solutions Ltd

(Registration number: 06930271)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

13,435

18,137

Tangible assets

6

77,208

49,145

 

90,643

67,282

Current assets

 

Debtors

7

1,158,494

1,425,107

Cash at bank and in hand

 

528,144

412,926

 

1,686,638

1,838,033

Creditors: Amounts falling due within one year

8

(867,247)

(871,184)

Net current assets

 

819,391

966,849

Total assets less current liabilities

 

910,034

1,034,131

Creditors: Amounts falling due after more than one year

8

(13,858)

-

Provisions for liabilities

(13,912)

(12,286)

Net assets

 

882,264

1,021,845

Capital and reserves

 

Called up share capital

100

100

Retained earnings

882,164

1,021,745

Shareholders' funds

 

882,264

1,021,845

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 March 2025 and signed on its behalf by:
 

.........................................
D P C Bird
Director

 

RSK Business Solutions Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Spring Lodge
172 Chester Road
Helsby
Cheshire
WA6 0AR
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section
1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act
2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and rounded to the nearest pound.

Summary of disclosure exemptions

The company is exempt from preparing a statement of cashflows as it is small.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report 27 March 2025 was Caroline Webster FCA, who signed for and on behalf of UHY Ross Brooke.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants relating to revenue are recognised in income over the period in which the related costs are recognised.

 

RSK Business Solutions Ltd

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% straight line per annum

Fixtures & Fittings

25% straight line per annum

Leasehold improvements

25% straight line per annum

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

 

RSK Business Solutions Ltd

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

RSK Business Solutions Ltd

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 33 (2023 - 28).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

21,454

18,053

Amortisation expense

4,702

4,702

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

67,175

67,175

At 31 March 2024

67,175

67,175

Amortisation

At 1 April 2023

49,038

49,038

Amortisation charge

4,702

4,702

At 31 March 2024

53,740

53,740

Carrying amount

At 31 March 2024

13,435

13,435

At 31 March 2023

18,137

18,137

 

RSK Business Solutions Ltd

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

6

Tangible assets

Leasehold improvements
 £

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

7,832

52,687

121,392

-

181,911

Additions

-

2,369

24,212

22,936

49,517

At 31 March 2024

7,832

55,056

145,604

22,936

231,428

Depreciation

At 1 April 2023

7,683

36,946

88,137

-

132,766

Charge for the year

5

3,776

14,328

3,345

21,454

At 31 March 2024

7,688

40,722

102,465

3,345

154,220

Carrying amount

At 31 March 2024

144

14,334

43,139

19,591

77,208

At 31 March 2023

149

15,741

33,255

-

49,145

 

RSK Business Solutions Ltd

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

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

751,635

1,019,984

Amounts owed by related parties

10

251,736

247,757

Prepayments

 

8,746

14,521

Other debtors

 

146,377

142,845

   

1,158,494

1,425,107

 

RSK Business Solutions Ltd

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

5,734

-

Trade creditors

189,111

94,904

Taxation and social security

503,159

429,205

Other creditors

169,243

347,075

867,247

871,184

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

13,858

-

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Hire purchase contracts

5,734

-

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

13,858

-

10

Related party transactions

Key management personnel

There are no key management other than the directors of the company.

The company is a subsidiary of RSK Business Solutions Holdings Ltd.