RCK Partners Limited

	Page
Strategic Report	1—2
Directors' Report	3—4
Independent Auditor's Report	5—7
Statement of Income and Retained Earnings	8
Balance Sheet	9
Statement of Cash Flows	10
Notes to the Statement of Cash Flows	11
Notes to the Financial Statements	12—19

The directors present their strategic report for the year ended 31 January 2025.

Review of the Business

RCK Partners Limited (the ‘company’) offers a diverse range of consultancy services including R&D tax credits, land remediation relief, patent box, capital allowances, and business rates. During the financial year the company has solidified its position as a leading provider of R&D tax credit advisory services. A clear strategic push to demonstrate unwavering commitment to professional excellence, innovative client solutions, and maintaining strong relationships within the industry has segmented the company as the provider synonymous with client-centricity and security.

The company has continued to experience a substantial increase in demand for its services, driven by the growing awareness of R&D tax credits as a pivotal tool for supporting technological advancements and innovation across sectors. The firm has expanded its client base, serving organisations from a range of industries, including engineering, biotechnology, and software development. The company takes pride in partnering with the most innovative businesses in the UK at the forefront of technological change.

Revenue has grown 13% in the year from £13,536,382 to £15,270,418. Recent investments in delivery capability have created the skills endowment to facilitate growth for the next 3 years, and for which the company is absorbing the cost for ahead of realising revenue benefit.

Principal Risks and Uncertainties

Credit and liquidity risk:

Credit risk pertains to the possibility of counterparty defaults that may lead to financial losses. This risk primarily stems from trade receivables and other financial assets. The company mitigates this risk through stringent client credit evaluations, diversity in the client base to avoid over-reliance on any single counterparty, and close monitoring of receivable aging to promptly address overdue payments.

Liquidity risk arises from the potential inability to meet short-term financial obligations as they fall due, which could impact operational continuity. This risk is mitigated by maintaining robust cash flow management practices, establishing sufficient lines of credit, and regularly monitoring liquidity reserves to ensure adequate coverage for operational and unforeseen financial needs.

Capital risk management:

The company employs robust capital risk management practices to ensure financial stability and resilience, supporting sustainable growth and addressing going concern considerations.

Regulatory risk:

The company faces the ongoing risk to changes in government policy related to R&D tax credits. These changes could impact both the application process and the eligibility criteria, potentially altering the nature of the consultancy services provided. The company seeks to mitigate these risks as far as is possible by securing legacy clients on a recurring basis and servicing those clients’ needs across the company product portfolio.

Competition risk:

Competition in R&D tax credit advisory has intensified in the last 12 months with a growing influence of lower cost providers harnessing automation and artificial intelligence to prepare claims. With sensitive adoption of automation combined with high quality client service the company is well positioned to mitigate the threat.

Macroeconomic uncertainties present risks that could indirectly affect the company’s operations. Economic downturns might lead businesses to reduce their investment in R&D, thereby impacting the demand for tax credit consultancy services. To counterbalance such risks, the company has adopted proactive measures, including diversifying its service offerings and ensuring its clientele spans stable sectors.

Key Performance Indicators

The company employs detailed performance metrics to assess its operational success and strategic alignment with its objectives. The three main key performance indicators used by the Board to monitor progress include revenue, EBITDA and clients serviced in the year.

Financial metrics, such as annual revenue growth and profit margins, serve as critical indicators of the company’s overall health. Revenue has grown 13% in the year from £13,536,382 to £15,270,418.

...CONTINUED

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RCK Partners Limited

Strategic Report (continued)

For The Year Ended 31 January 2025

Review of the Business - continued

Future developments

The company's strategy for the next 12 months will focus on sector diversification, enabling it to further reduce dependency on specific industries and mitigate macroeconomic risks. Additionally, efforts will be directed toward deeper engagement with the UK’s most innovative companies to establish a strong presence in cutting-edge markets. The company will also begin to crystallise returns on investments made in ancillary services, leveraging these offerings to enhance its portfolio and create new revenue streams.

On behalf of the board

S Spells

Director

31 October 2025

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RCK Partners Limited

Company No. 12396021

Directors' Report For The Year Ended 31 January 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 January 2025.

Principal Activity

The company's principal activity continues to be that of tax consultancy activities.

Dividends

The value of dividends paid amounted to £943,754 .

Directors

The directors who held office during the year were as follows:

W Boorer	Appointed	25/11/2024
P Clark
J Gibson	Appointed	25/11/2024
P Hammond	Appointed	25/11/2024
M Kashinskiy	Resigned	26/11/2024
I McNicol	Appointed	17/12/2024
A Roscoe	Appointed	25/11/2024
P Roscoe
S Spells	Appointed	25/11/2024

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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RCK Partners Limited

Directors' Report (continued)

For The Year Ended 31 January 2025

Independent Auditors

The auditors, TC Group, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

S Spells

Director

31 October 2025

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Independent Auditor's Report

to the Members of

RCK Partners Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of RCK Partners Limited (the 'company') for the year ended 31 January 2025 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 FRS 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:

give a true and fair view of the state of the company's affairs as at 31 January 2025 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

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 the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

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Independent Auditor's Report (continued)

to the Members of

RCK Partners Limited

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3—4, 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. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations;

We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework (FRS 102 and the Companies Act 2006) and the relevant tax compliance regulations in the UK;

We considered the nature of the industry, the control environment and business performance, including the key drivers for management’s remuneration;

We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit;

We considered the procedures and controls that the company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those programmes and controls.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters which we are required to address

The comparative financial statements were not audited.

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Independent Auditor's Report (continued)

to the Members of

RCK Partners Limited

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 that 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.

Jeff Fletcher FCCA (Senior Statutory Auditor)

for and on behalf of TC Group , Statutory Auditor

31 October 2025

TC Group

One Bell Lane

Lewes

East Sussex

BN7 1JU

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RCK Partners Limited

Statement of Income and Retained Earnings

For The Year Ended 31 January 2025

Statement of Income and Retained Earnings

		2025	2024 as restated
	Notes	£	£
TURNOVER	3	15,270,418	13,536,382
Cost of sales		(996,029 )	(1,192,330 )

GROSS PROFIT		14,274,389	12,344,052

Administrative expenses		(11,871,486 )	(9,563,075 )
Other operating income		669	-

OPERATING PROFIT	4	2,403,572	2,780,977
Other interest receivable and similar income	9	8,270	25,808
Interest payable and similar charges	10	(3,100 )	(51,594 )

PROFIT BEFORE TAXATION		2,408,742	2,755,191
Tax on Profit	11	(670,806 )	(687,418 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		1,737,936	2,067,773
OTHER COMPREHENSIVE INCOME FOR THE YEAR		-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR		1,737,936	2,067,773

RETAINED EARNINGS
As at 1 February 2024		1,341,056	713,230
Dividends paid		(943,754)	(1,439,947)
As at 31 January 2025		2,135,238	1,341,056

The notes on pages 11 to 19 form part of these financial statements.

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RCK Partners Limited

Balance Sheet

As At 31 January 2025

Balance Sheet

Registered number: 12396021

		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	13		136,117		181,656

			136,117		181,656
CURRENT ASSETS
Debtors	14	3,405,165		2,039,817
Cash at bank and in hand		3,391,546		2,405,101

		6,796,711		4,444,918
Creditors: Amounts Falling Due Within One Year	15	(3,599,669 )		(2,439,552 )

NET CURRENT ASSETS (LIABILITIES)			3,197,042		2,005,366

TOTAL ASSETS LESS CURRENT LIABILITIES			3,333,159		2,187,022

PROVISIONS FOR LIABILITIES
Provisions For Charges	17		(1,164,210 )		(845,366 )
Deferred Taxation	16		(33,111 )		-

NET ASSETS			2,135,838		1,341,656

CAPITAL AND RESERVES
Called up share capital	18		600		600
Profit and Loss Account			2,135,238		1,341,056

SHAREHOLDERS' FUNDS			2,135,838		1,341,656

On behalf of the board

S Spells

Director

31 October 2025

The notes on pages 11 to 19 form part of these financial statements.

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RCK Partners Limited

Statement of Cash Flows

For The Year Ended 31 January 2025

Statement of Cash Flows

		2025	2024 as restated
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	2,430,881	2,255,726
Interest paid		(3,100 )	(51,594 )
Tax paid		(459,682 )	(500,000 )

Net cash generated from operating activities		1,968,099	1,704,132

Cash flows from investing activities
Purchase of tangible assets		(46,170 )	(98,312 )
Proceeds from disposal of tangible assets		-	18,512
Interest received		8,270	25,808

Net cash used in investing activities		(37,900 )	(53,992 )

Cash flows from financing activities
Equity dividends paid		(943,754 )	(1,439,947 )



Increase in cash and cash equivalents		986,445	210,193
Cash and cash equivalents at beginning of year	2	2,405,101	2,194,908

Cash and cash equivalents at end of year	2	3,391,546	2,405,101

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RCK Partners Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 January 2025

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024 as restated
	£	£
Profit for the financial year	1,737,936	2,067,773
Adjustments for:
Tax on profit	670,806	687,418
Interest expense	3,100	51,594
Interest income	(8,270 )	(25,808 )
Depreciation of tangible assets	91,709	87,961
Profit on disposal of tangible assets	-	(5,674)
Movements in working capital:
(Increase)/decrease in trade and other debtors	(1,365,348 )	437,476
Increase/(decrease) in trade and other creditors	1,300,948	(1,045,014 )

Net cash generated from operations	2,430,881	2,255,726

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024 as restated
	£	£
Cash at bank and in hand	3,391,546	2,405,101

3. Analysis of changes in net funds

	As at 1 February 2024	Cash flows	As at 31 January 2025
	£	£	£
Cash at bank and in hand	2,405,101	986,445	3,391,546

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RCK Partners Limited

Notes to the Financial Statements

For The Year Ended 31 January 2025

Notes to the Financial Statements

1. General Information

RCK Partners Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12396021 . The registered office is Forum House, 15-18 Lime Street, London, EC3M 7AN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

The functional currency of RCK Partners Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the company operates.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Significant judgements and estimations

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management’s best knowledge of the amount, events or actions, actual results may ultimately differ from those estimates. The directors consider the following items to be areas subject to estimation and judgement.

Provisions for liabilities:

The recognision of provisions are based on management's judgement and experience. Management review the available financial information, and other relevant information relating to the provisions. The provisions are adjusted based on this information to the expected liability.

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from contracts for the provision of professional services represents the majority of the income, and the timing of income recognition in relation to the different revenue streams is as follows.

Research and development claims

The company earns revenue on completion of successful R&D claims on behalf of its clients. Revenue is recognised once the submission has been approved by HMRC - determined as the allocation of claim benefit by HMRC to the company's clients.

Capital allowances advice

The company earns revenue by identifying potential capital allowances claims for its clients and advising on these. If unclaimed capital allowances are identified the company reports to its clients and at this point revenue is recognised.

Business rates valuation challenges

The company earns revenue by representing its clients in challenging business rates charges. Revenue is recognised once The Valuation Office Agency has approved the revised valuation.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	Straight line over length of lease
Computer Equipment	25% straight line

The assets’ residual values, useful lives and deprecation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Consolidated Statement of income and Retaining Earnings.

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RCK Partners Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

2.6. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.8. Financial Instruments

Financial assets

The Company’s financial assets comprise basic financial instruments, being trade and other receivables and cash at bank. Trade and other receivable are initially measured at transaction price and thereafter at the undiscounted amount of cash or other consideration expected to be received less any impairment. Any impairment loss is recognised in the Statement of Comprehensive Income. Financial assets are derecognised when contractual rights to the cash flows from the financial asset expire or are settled, or when substantially all the risks and rewards of ownership have been transferred.

Financial liabilities

The Company’s financial liabilities comprise basic financial liabilities, being trade and other payables. These are measured initially at the transaction price and thereafter at the amount of cash or other considered expected to be paid. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

2.9. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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RCK Partners Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

2.10. Provisions and Contingencies

Provisions

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

Contingencies

Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.

Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.

2.11. Pensions

The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Turnover

Analysis of turnover by class of business is as follows:

	2025	2024 as restated
	£	£
Other services	1,059,263	1,738,096
R&D tax relief services	14,211,155	11,798,286

	15,270,418	13,536,382

All of the company's turnover has been generated in the UK.

4. Operating Profit

The operating profit is stated after charging:

	2025	2024 as restated
	£	£
Bad debts	278,314	436,559
Operating lease rentals	147,024	12,849
Depreciation of tangible fixed assets	91,709	87,961

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RCK Partners Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

5. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024 as restated
	£	£
Audit Services
Audit of the company's financial statements	15,000	-

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024 as restated
	£	£
Wages and salaries	7,451,692	5,673,651
Social security costs	1,129,593	756,892
Other pension costs	165,939	172,324

	8,747,224	6,602,867

7. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	5	5
Commercial	30	33
Compliance	11	8
Consulting	27	24
Senior Leadership Team	12	11

	85	81

8. Directors' remuneration

	2025	2024 as restated
	£	£
Emoluments	354,179	35,108
Company contributions to money purchase pension schemes	(9,738 )	21,925

	344,441	57,033

The total emoluments include non-cash benefits comprising leased company cars, private health insurance, and dental insurance.

Information regarding the highest paid director was as follows:

	2025	2024 as restated
	£	£
Emoluments	87,061	11,992

No pension contributions were made for the highest paid director.

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RCK Partners Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

9. Interest Receivable and Similar Income

	2025	2024 as restated
	£	£
Other interest receivable	8,270	25,808

10. Interest Payable and Similar Charges

	2025	2024 as restated
	£	£
Other finance charges	3,100	51,594

11. Tax on Profit

	Tax Rate		2025	2024 as restated
The tax charge on the profit for the year was as follows:
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	24.0%	637,695	687,418
Prior period adjustment			-	-

			637,695	687,418
Deferred Tax
Deferred taxation			33,111	-


Total tax charge for the period			670,806	687,418


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
			2025	2024
			£	£
Profit before tax			2,408,742	2,755,191

Tax on profit at 25% (UK standard rate)			602,186	662,076
Goodwill/depreciation not allowed for tax			22,927	23,109
Expenses not deductible for tax purposes			23,179	18,172
Capital allowances			(11,543 )	(18,338 )
Short term timing differences			34,057	2,399

Total tax charge for the period			670,806	687,418

12. Prior Period Adjustment

The 2024 figures have been restated to derecognise motor vehicle fixed assets with a net book value of £320,685 and associated hire purchase lease liabilities of £307,372. As part of this adjustment, prepayments increased by £15,565, and accruals increase by £1,466. The net impact of these changes was an increase in net profit before tax of £786, and a decrease in post tax profit and net assets of £38,043.

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RCK Partners Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

13. Tangible Assets

	Land & Property
	Leasehold	Computer Equipment	Total
	£	£	£
Cost
As at 1 February 2024	15,837	333,190	349,027
Additions	-	46,170	46,170

As at 31 January 2025	15,837	379,360	395,197

Depreciation
As at 1 February 2024	8,265	159,106	167,371
Provided during the period	3,900	87,809	91,709

As at 31 January 2025	12,165	246,915	259,080

Net Book Value
As at 31 January 2025	3,672	132,445	136,117

As at 1 February 2024	7,572	174,084	181,656

14. Debtors

	2025	2024 as restated
	£	£
Due within one year
Trade debtors	1,135,175	1,483,626
Prepayments and accrued income	636,071	379,762
Other debtors	171,859	176,429
Amounts owed by group undertakings	1,462,060	-

	3,405,165	2,039,817

Amounts owed by group undertakings are interest free, unsecured and repayable on demand.

15. Creditors: Amounts Falling Due Within One Year

	2025	2024 as restated
	£	£
Trade creditors	298,621	698,369
Amounts owed to group undertakings	-	2,629
Other creditors	27,630	30,334
Corporation tax	-	38,829
Taxation and social security	786,113	671,468
Accruals and deferred income	2,487,305	997,923

	3,599,669	2,439,552

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RCK Partners Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

16. Deferred Taxation

Deferred tax liabilities of £33,111 (2024: £Nil) have been recognised in respect of timing differences arising from the difference between the carrying amount and tax written down value of fixed assets. The deferred tax has been calculated using the corporation tax rate of 25%.

	2025	2024 as restated
	£	£
Other timing differences	33,111	-

17. Provisions for Liabilities


	Deferred Tax	Other Provisions	Total
	£	£	£
As at 1 February 2024	-	845,366	845,366
Additions	-	318,844	318,844
Deferred taxation	33,111	-	33,111

Balance at 31 January 2025	33,111	1,164,210	1,197,321

The company has made a provision of £1,084,211 (2024: £845,366) for submitted claims that are currently under enquiry by HMRC. This provision is calculated based on several factors pertinent to the specific claim in enquiry and includes amounts that may need to be refunded as well as claims included within accrued income. Other provisions also include a provision for anticipated costs in relation to an employee matter.

18. Share Capital

	2025	2024 as restated
Allotted, called up and fully paid	£	£
600 Ordinary Shares of £ 1.00 each	600	209
0 2020 B Growth Share of £ 1.00 each	-	209
0 2020 A Growth Share of £ 1.00 each	-	182

	600	600

During the year the company re-designated 182 2020 A Growth shares of £1 each and 209 2020 B Growth shares of £1 each as 391 ordinary shares of £1 each.

19. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024 as restated
	£	£
Not later than one year	727,075	655,087
Later than one year and not later than five years	522,990	576,267

	1,250,065	1,231,354

Lease commitments include rent commitments and vehicle lease commitments. The payments are before deduction of amounts recoverable from employees under the salary sacrifice scheme.

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RCK Partners Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2025

20. Pension Commitments

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

During the year the charge to the profit and loss account in respect of defined contribution schemes was £165,939 (2024: £172,324).

At the balance sheet date contributions of £27,630 (2024: £23,850) were due to the fund and are included in creditors.

21. Dividends

	2025	2024 as restated
	£	£
On equity shares:
Final dividend paid	943,754	1,439,947

22. Related Party Disclosures

Key management personnel (including directors) received compensation of £1,185,006 (2024: £559,378)

During the year, the company paid for expenses totalling £67,933 (2024: £Nil) on behalf of RCK Bidco Limited, the parent company, and loaned them £1,392,627 (2024: £Nil). At the year end, RCK Bidco Limited owed the company £1,460,560 (2024: £Nil). The loan is interest free and repayable on demand.

There is a fixed and floating charge dated 25 November 2024 over the assets of RCK Partners Limited in respect of an amount owed by the parent company RCK Bidco Limited.

During the year, the company loaned RCK Giving CIC, a company controlled by the director Peter Roscoe, £1,500 (2024: £Nil). This balance was owed to RCK Partners Limited at the year end, it is interest free and repayable on demand.

DBTG Limited, a company controlled by a previous director of RCK Partners Limited, Mark Kashinskiy, was owed dividends of £227,321 (2024: £437,523) during the year. RCK Partners Limited loaned DBTG Limited £226,002 (2024: £437,434) during the year and wrote off the remaining balance of £3,949 (2024: £2,629) owing to RCK Partners Limited at the year end.

23. Controlling Parties

The company's immediate parent undertaking is RCK Bidco Limited.

The ultimate parent undertaking is RCK Topco Limited (incorporated in England & Wales). Its registered office is Forum House, 15-18 Lime Street, London, United Kingdom, EC3M 7AN.

RCK Partners Limited is not included in the consolidated financial statements of any group for the year ended 31 January 2025. The first reporting period for RCK Topco Limited is the period ending 31 January 2026 and RCK Partners Limited will be included within the consolidated group accounts of RCK Topco Limited for that period.

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