To cover some of the points raised for those not familiar with U.K. systems, the gray cut-out box mounted on a board with open cables to the meter is quite normal. If this were the service at a regular single-family residence, then it would be quite normal for the output(s) from the meter to be connected directly into the main distribution panel(s) which would be mounted alongside or backing onto the meter cabinet (although sometimes there will be an isolator here if the main panel is some distance away or if it's been added on newer services).
Depending upon the age and style of service, the supply cable will be a lead-sheathed type (if underground), individual insulated conductors (common on overhead supplies), or a concentric neutral cable with PVC outer sheath. It's the orange sheathed cable which makes this installation look odd for a start, as it does seem to suggest that it might be MICC (Mineral Insulated Copper Clad). As noted already, using MICC on these feeders would seem to be overkill if that's indeed what it is.
The fuse carriers on the cut-outs are normally just black or gray to match the rest of the unit. As John noted, the red is used to indicate that they are fitted with solid links rather than fuses, which of course makes sense if the MICC (or whatever they are) feeders are fused at a common supply room.
Just in case there is still any confusion about the three current-carrying conductors emerging from each meter, this is not a 3w 120/240 or 240/480V type system, but simply one line which is permanently live and the second which is controlled by the meter to supply power only during the Economy 7 cheap-rate hours. The detailed photo I've seen of the meter confirms that it is standard E7 set to the normal midnight - 7 a.m. hours and not E10.
Incidentally, this is the whole reason I was sent the photos in the first place, to confirm that the apartment had E7 or E10 service.
Looking at where the cables come out of the top of the right hand isolator, there seems to be an outer layer of insulation which stops just short, and one of the browns looks black underneath.
Good catch on the little black section visible. I'm not so sure about sleeving being applied for the full length though. It looks too snug and too much like the other phase conductor to be sleeved to me. My guess would be that's just some black tape applied at the end to help identify the off-peak line from the permanent-live during installation.
The yellow cable is actually (or should be) green/yellow stripes. It's the main earthing connection.
That's one of the things I don't like about the modern green/yellow earth cable which has just a thin longitudinal green stripe. When the conductor is twisted a certain way, as here, it appears to be just plain yellow. It's no big deal here as its function is obvious anyway, but it's an issue in a crowded junction box which might also have plain yellow phase conductors. If you look at the link from the black junction box to the cutout in these pics you can just about see the green stripe there.
Speaking of the PME connection, have you noticed that the right-hand service has it connected to the neutral in the usual way, on top, while on the left-hand service it's run into the bottom? And why the junction boxes anyway at this point? Why not just run the earths straight to the bonding terminals in the cutouts?
The whole setup seems to have been ill-planned, as evidenced by the fact that one service has the meter installed on the board while the other, clearly short of space between the wall and cable trays, has the meter mounted separately above.