The director presents the strategic report for the year ended 31 December 2025.
Turnover for the year increased by 10.7% to £13,737,674 (2024: £12,412,900), reflecting continued strong commercial demand for the company's fire compliance and life safety consultancy services, together with a contribution from the newly established Fire Engineering department, which was built out during 2025 as part of the group's strategy to broaden its technical service offering.
Gross profit margin improved to 58.1% (2024: 55.2%). Although the company made a significant investment in direct engineering headcount during 2025 to build up the fire engineering team, the revenue generated by the expanded team in its first year of operation was sufficient to improve the overall gross margin. The directors expect the gross margin benefit to develop further in 2026 as the team reaches full productivity.
Operating profit was £4,284,464 (2024: £4,397,900). The 2024 comparative included other operating income of £547,328 in respect of management fees receivable from group entities, which did not recur in 2025. On an underlying basis, operating profit improved year on year. Administrative expenses increased during the year, principally driven by an increase in the management charge payable to Riskhub Limited, the group holding company. The group operates a centralised overhead model whereby all group-level costs — including senior leadership, finance, technology, legal and compliance, and central support functions — are borne by Riskhub Limited and recharged to operating subsidiaries by way of a management charge. This structure ensures that group costs are not duplicated across entities. The management charge increased to £1,420,960 (2024: £736,433), reflecting the group's investment in its central infrastructure and leadership capability during 2025. The directors consider this charge to be commercially appropriate and consistent with arm's length principles.
Profit before tax for the year was £4,050,972 (2024: £4,103,516). The marginal reduction of £52,544 reflects the higher management charge, largely offset by the improved gross profit performance. Profitability remains robust and the directors are satisfied that the underlying trading performance of the business is strong.
The company is exposed to regulatory, operational and market risks. The director has put the necessary measures in place in order to mitigate these risks as much as possible.
Regulatory Risk
Changes in fire safety regulations following the Building Safety Act require continuous professional development and robust quality assurance processes.
Market Competition
The company mitigates competitive pressure through service differentiation, technical excellence, and leveraging its position within the Riskhub Group.
Resource Management
The challenge of recruiting qualified assessors and fire engineers is addressed through competitive remuneration, targeted recruitment, and professional development opportunities.
Technology Disruption
The company continues to invest in technology integration to enhance service delivery efficiency and maintain competitive advantage.
Economic Factors
Potential impacts from macroeconomic pressures are mitigated through client base diversification and focus on statutory compliance services.
The company is well-positioned for 2026, with plans focused on:
Enhanced services using features with the Riskhub group technology platform
Continued growth of the fire engineering team and associated service revenues
Continued operational efficiency improvements
Investment in staff development
The strong balance sheet provides a solid foundation for these initiatives while maintaining capacity to respond to market changes.
The key performance indicators are as follows:
KPIs | 2025 | 2024 |
| £ | £ |
Turnover | 13,737,674 | 12,412,900 |
GPM | 58.1% | 55.2% |
Operating profit | 4,284,464 | 4,397,900 |
OPM | 31.2% | 35.4% |
PBT | 4,050,972 | 4,103,516 |
PBM | 29.5% | 33.1% |
Profitability remains robust in 2025. The marginal reduction in PBT reflects the planned increase in the group management charge, offset by strong revenue growth and an improved gross profit margin following the investment in the fire engineering team.
On behalf of the board
The director presents her annual report and financial statements for the year ended 31 December 2025.
On 28th August 2025, the company changed its name to Axion Consultancy Limited.
The results for the year are set out on page 9.
Ordinary dividends were paid amounting to £300,000. The director does not recommend payment of a further dividend.
The director who held office during the year and up to the date of signature of the financial statements was as follows:
In accordance with the company's articles, a resolution proposing that Gravita Audit II Limited be reappointed as auditor of the company will be put at a General Meeting.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is 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. He is 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.
We have audited the financial statements of AXION CONSULTANCY LIMITED (FORMERLY RISKHUB CONSULTANCY LIMITED) (the 'company') for the year ended 31 December 2025 which comprise the statement of comprehensive income, the statement of financial position, 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).
Basis for opinion
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's 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. However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the company's ability to continue as a going concern.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the director's report have been prepared in accordance with applicable legal requirements.
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. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.
The extent to which the audit was considered capable of detecting irregularities including fraud.
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:
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and Health and Safety legislation.
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal expenses; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
understanding the business model as part of the control and business environment;
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation;
enquiring of management as to actual and potential litigation and claims; and
reviewing correspondence and enquiring with the company of actual and potential non-compliance with laws and regulations.
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, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment by for example, forgery, or intentional misrepresentation or through collusion. Our audit procedures are designed to detect material misstatements. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.
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.
Use of our report
This report is made solely to the company's member 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 member those matters we are required to state to the member 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 member, for our audit work, for this report, or for the opinions we have formed.
The income statement has been prepared on the basis that all operations are continuing operations.
Axion Consultancy Limited (formerly Riskhub Consultancy Limited) is a private company limited by shares incorporated in England and Wales. The registered office is 10-11 Clerkenwell Green, London, England, EC1R 0DP.
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 £.
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:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of parent company Riskhub Limited, Company Number 13668202 and ultimate parent company Sefton & Galgorm Limited Company Number 16208894. These consolidated financial statements are available from its registered office, First Floor, 10-11 Clerkenwell Green, London, England, EC1R 0DP.
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 profit or loss.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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 profit or loss, 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.
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.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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 profit or loss 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 profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss 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.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
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.
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 income statement, 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.
Management charge
Management charges relate to costs incurred in the year by other group entities and recharged to the company.
The management charge increased to £1,420,960 (2024: £736,433), reflecting the group's investment in its central infrastructure and leadership capability during 2025.
The directors consider this charge to be commercially appropriate and consistent with arm's length principles.
The average monthly number of persons (including directors) employed by the company during the year was:
Their aggregate remuneration comprised:
As total directors' remuneration was less than £200,000 in the current year, no disclosure is provided for that year.
The actual (credit)/charge 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:
Amounts owed by group undertakings are interest free, unsecured and repayable on demand.
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.
At the reporting end date the company had no outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
In the prior year, the company was responsible for lease payments in respect of a property lease and disclosed commitments in respect of that arrangement.
During the current year, responsibility for the lease has transferred to the parent undertaking, with no change to the underlying lease agreement.
Accordingly, the company has no operating lease commitments as at 31 December 2025.
During the year, the directors identified a presentation error in respect of the classification of a rent deposit amounting to £330,292. In the prior year balance sheet, this balance was included within current assets, whereas it should have been classified as non‑current assets, as the deposit is not expected to be realised within twelve months of the reporting date.
In accordance with FRS 102, assets and liabilities must be classified based on their expected settlement. The comparative balance sheet as at 31 December 2024 has therefore been reclassified to present the rent deposit within other non‑current debtors rather than within current assets.
This reclassification does not affect the profit for the prior year or the company’s net assets, but affects the presentation of the comparative balance sheet only.
On 24 March 2026, there was a satisfaction of a fixed charge in full.
The remuneration of key management personnel is as follows.
The following amounts were outstanding at the reporting end date:
The smallest group for which consolidated accounts including the company are prepared is the one headed by Riskhub Limited and these accounts are available from the registered office.
The largest group for which consolidated accounts including the company are prepared is the one headed by Sefton & Galgorm Limited and these accounts are available from the registered office.