RCB Business Solutions Limited

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

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
2 Britannia Buildings
Merchants Road
Hotwells
Bristol
BS8 4QD
England

These financial statements were authorised for issue by the Board on 9 September 2025.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

RCB Business Solutions Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 9 September 2025 was Peter Roberts, who signed for and on behalf of Roberts & Co (Bristol) Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.


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.

During the year the carrying values of vehicles within the motor fleet were identified as being significantly below their fair market value. The decision was taken to recognise the vehicles at market value within the accounts with valuation reviews to be undertaken on the current fleet each year. No vehicles were revalued in excess of their original cost values.

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

RCB Business Solutions Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

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:

The directors considered freehold property was maintained at a state of repair that the residual value was at least equal to the net book value and therefore no depreciation was applied.

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance
Motor vehicles	Market value

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

RCB Business Solutions Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

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.

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.

RCB Business Solutions Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 367 (2023 - 354).

4	Tangible assets

	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	272,485	73,906	346,391
Revaluations	-	(18,441)	(18,441)
Additions	19,383	-	19,383
At 31 December 2024	291,868	55,465	347,333
Depreciation
At 1 January 2024	228,662	73,906	302,568
Charge for the year	2,682	-	2,682
Impairment	-	(73,906)	(73,906)
At 31 December 2024	231,344	-	231,344
Carrying amount
At 31 December 2024	60,524	55,465	115,989
At 31 December 2023	43,823	-	43,823

Valuation

During the year it was identified that the carrying values of motor vehicles within the company fleet were well below their resale market value. The directors therefore took the decision to revalue the carrying values of vehicles to more closely reflect the fair value of the underlying assets.

5

Stocks

	2024 £	2023 £
Raw materials and consumables	69,649	81,438

RCB Business Solutions Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

6

Debtors

Current	Note	2024 £	2023 £
Trade debtors		813,713	991,393
Amounts owed by related parties	12	895,728	723,689
Prepayments		20,542	17,946
		1,729,983	1,733,028

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	10	484,146	644,411
Trade creditors		20,950	58,731
Taxation and social security		176,192	262,162
Accruals and deferred income		89,902	41,414
		771,190	1,006,718

Creditors include other borrowings of £484,146 (2023 - £644,411) which are secured over the debtor book of the company.

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	800	800	800	800
Ordinary B of £1 each	100	100	100	100
Ordinary C of £1 each	100	100	100	100
	1,000	1,000	1,000	1,000

RCB Business Solutions Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on revaluation of other assets	55,465	55,465

10	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Other borrowings	484,146	644,411

11	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Not later than one year	37,200	56,910
Later than one year and not later than five years	96,100	133,300
	133,300	190,210

The amount of non-cancellable operating lease payments recognised as an expense during the year was £44,559 (2023 - £24,709).

12	Related party transactions

Advantage has been taken of the exemption under FRS102 Paragraph 33.1A from disclosing any intercompany transactions as the company is a 100% subsidiary of the ultimate parent company, Merak UK Holdings Limited.

13	Parent and ultimate parent undertaking

The company's immediate parent is Merak UK Holdings Limited, incorporated in England & Wales.