RSK Business Solutions Holdings Limited - Period Ending 2019-03-31

Registration number: 09997268

RSK Business Solutions Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2019

RSK Business Solutions Holdings Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 5

RSK Business Solutions Holdings Limited

(Registration number: 09997268)
Balance Sheet as at 31 March 2019

	Note	2019 £	2018 £
Fixed assets
Investments	3	246,100	246,100
Creditors: Amounts falling due within one year	4	(251,565)	(251,565)
Net liabilities		(5,465)	(5,465)
Capital and reserves
Called up share capital		94	100
Capital redemption reserve		6	-
Profit and loss account		(5,565)	(5,565)
Total equity		(5,465)	(5,465)

For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 November 2019 and signed on its behalf by:
 

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

D P C Bird
Director

The notes on pages 2 to 5 form an integral part of these financial statements.

Page 1

RSK Business Solutions Holdings Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

1	General information

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

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.

Group accounts not prepared

Group accounts have not been prepared as the group is a small one.

Going concern

The financial statements have been prepared on a going concern basis. The company has the support of other related companies.

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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Page 2

RSK Business Solutions Holdings Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

3	Investments

	2019 £	2018 £
Investments in subsidiaries	246,100	246,100

Subsidiaries	£
Cost or valuation
At 1 April 2018	246,100
At 31 March 2019	246,100
Provision
At 1 April 2018	-
At 31 March 2019	-
Carrying amount
At 31 March 2019	246,100
At 31 March 2018	246,100

Page 3

RSK Business Solutions Holdings Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2019	2018

Subsidiary undertakings
RSK Business Solutions Limited	172 Chester Road, Helsby, Cheshire, WA6 0AR	Ordinary shares	100%	100%
	England and Wales
BSL Information Technology Private Limited		Ordinary shares	100%	100%
	India

The principal activity of RSK Business Solutions Limited is the provision of business services.

The principal activity of BSL Information Technology Private Limited is the provision of business services.

4

Creditors

Creditors: amounts falling due within one year

	2019 £	2018 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest	250,540	250,540
Other creditors	1,025	1,025
	251,565	251,565

Page 4

RSK Business Solutions Holdings Limited

Notes to the Financial Statements for the Year Ended 31 March 2019

5	Related party transactions

Summary of transactions with subsidiaries

RSK Business Solutions Limited - a wholly owned subsidiary.
 The company receives dividends and benefits from an interest free loan from RSK Business Solutions Limited. During the year the company received dividends totalling £144,600 (2018; £85,000) from RSK Business Solutions. At the year end, RSK Business Solutions Holdings Ltd owed RSK Business Solutions Ltd £250,540 (2018; £250,540).
 

Loans from related parties

2019	Subsidiary £
At start of period	250,540
At end of period	250,540

2018	Subsidiary £
At start of period	214,540
Advanced	36,000
At end of period	250,540

Page 5