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REGISTERED NUMBER: 01632310 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2021

FOR

BAAS CONSTRUCTION LIMITED

BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


BAAS CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2021







DIRECTORS: Mr K O'Connell
Mr H Williams
Mr A O'Connell
Mr D J Jones
Mr S J Harrison





SECRETARY: Mrs C Smith





REGISTERED OFFICE: The Old Chapel
Brooklands Road
Burnley
Lancashire
BB11 3PR





REGISTERED NUMBER: 01632310 (England and Wales)





ACCOUNTANTS: Ainsworths Limited
Chartered Accountants
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY

BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

BALANCE SHEET
31ST DECEMBER 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 377,013 286,524
Investments 5 341 351
Investment property 6 500,000 500,000
877,354 786,875

CURRENT ASSETS
Stocks 7 340,765 466,754
Debtors 8 1,009,372 764,007
Investments 9 233,993 211,773
Cash at bank and in hand 9,129,852 8,224,807
10,713,982 9,667,341
CREDITORS
Amounts falling due within one year 10 1,785,096 1,307,466
NET CURRENT ASSETS 8,928,886 8,359,875
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,806,240

9,146,750

PROVISIONS FOR LIABILITIES 51,374 39,883
NET ASSETS 9,754,866 9,106,867

CAPITAL AND RESERVES
Called up share capital 95 75
Share premium 544,000 544,000
Capital redemption reserve 70 70
Retained earnings 9,210,701 8,562,722
SHAREHOLDERS' FUNDS 9,754,866 9,106,867

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

BALANCE SHEET - continued
31ST DECEMBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1st September 2022 and were signed on its behalf by:





Mr K O'Connell - Director


BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021


1. STATUTORY INFORMATION

BAAS Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Consolidation
The accounts contain information about BAAS Construction Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt from the requirement to prepare consolidated financial statements as both of the subsidiary undertakings are immaterial.

Turnover
Turnover represents net invoiced work and, on long term contracts, a percentage of the total contract value based upon the stage of completion of the work carried out.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost / lease term and 2% on cost
Plant and machinery etc - 20% on reducing balance, 15% on reducing balance and 10% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stock and work-in-progress are stated at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of overheads.

Net realisable value is based on estimated selling prices less all further costs to completion and disposal.

Long-term contract work-in-progress is stated at cost plus, where the outcome can be assessed with reasonable certainty, estimated profits attributable to the stage of completion, less provision for any known or anticipated losses and progress payments receivable on account.

Advance and progress payments are included under creditors to the extent that they exceed the related work-in-progress.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the term of the lease.


Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Fixed asset investments are included at cost less amounts written off. Profits or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.

Current asset investments are included at their fair value. Profits or losses arising from the disposal of current asset investments are treated as part of the result from ordinary activities.

Investments in subsidiary undertakings are stated at cost less any provisions for impairment in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2020 - 41 ) .

BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2021 68,179 848,186 916,365
Additions - 178,071 178,071
Disposals - (105,157 ) (105,157 )
At 31st December 2021 68,179 921,100 989,279
DEPRECIATION
At 1st January 2021 26,910 602,931 629,841
Charge for year 979 41,948 42,927
Eliminated on disposal - (60,502 ) (60,502 )
At 31st December 2021 27,889 584,377 612,266
NET BOOK VALUE
At 31st December 2021 40,290 336,723 377,013
At 31st December 2020 41,269 245,255 286,524

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2021 351
Disposals (10 )
At 31st December 2021 341
NET BOOK VALUE
At 31st December 2021 341
At 31st December 2020 351

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2021
and 31st December 2021 500,000
NET BOOK VALUE
At 31st December 2021 500,000
At 31st December 2020 500,000

BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


6. INVESTMENT PROPERTY - continued

Fair value at 31st December 2021 is represented by:
£   
Valuation in 2021 500,000

If investment property had not been revalued it would have been included at the following historical cost:

31.12.21 31.12.20
£    £   
Cost 500,000 500,000

Investment property was valued on a fair value basis on 31st December 2021 by the directors .

7. STOCKS
31.12.21 31.12.20
£    £   
Work in progress 987,110 466,754
Payments on account (646,345 ) -
340,765 466,754

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 643,684 210,381
Other debtors 365,688 553,626
1,009,372 764,007

9. CURRENT ASSET INVESTMENTS

Current asset investments comprise listed investments stated at fair value.

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 1,047,720 757,872
Taxation and social security 704,270 424,812
Other creditors 33,106 124,782
1,785,096 1,307,466

11. CONTINGENT LIABILITIES

Performance bonds to the value of £367,412 (2020: £502,521) were in place at the year end. The bonds are underwritten by the company's bankers and secured by an unlimited debenture on the assets of the company.

BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


12. OTHER FINANCIAL COMMITMENTS

At 31st December 2021 the company had total commitments under non-cancellable operating leases over the remaining life of those leases amounting to £108,650 (2020: £160,950).

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2021 and 31st December 2020:

31.12.21 31.12.20
£    £   
Mr K O'Connell
Balance outstanding at start of year 13,454 (182 )
Amounts advanced - 13,636
Amounts repaid (3,839 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,615 13,454

Mr D J Jones
Balance outstanding at start of year - -
Amounts advanced 9,999 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,999 -

Mr S J Harrison
Balance outstanding at start of year - -
Amounts advanced 10 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10 -

Directors' loans are unsecured, interest free and repayable on demand.

During the year the company rented one of its properties for £27,500 (2020: £17,500) from the BAAS Construction Retirement Benefit Scheme, a pension scheme in which Mr K O'Connell and Mr A O'Connell (who are directors and shareholders) have a material interest. Current year rent was reduced by a payment holiday.

14. ULTIMATE CONTROLLING PARTY

In the opinion of the directors the ultimate controlling party of the company is the majority shareholder Mr K O'Connell. Mr K O'Connell is also a director of the company.