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REGISTERED NUMBER: 06013357 (England and Wales)








REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

BAQUS GROUP LIMITED

BAQUS GROUP LIMITED (REGISTERED NUMBER: 06013357)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Report of the Directors 2 to 3

Balance Sheet 4

Notes to the Financial Statements 5 to 9


BAQUS GROUP LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mr R C McNeill
Mr A J Welch
Mr B P Williams
Mr P J Warburton
Mr A R Lewis
Miss J L Munday



REGISTERED OFFICE: 2-3 North Mews
London
West Sussex
WC1N 2JP



REGISTERED NUMBER: 06013357 (England and Wales)



AUDITORS: C. Wilkinson & Co.
Chartered Accountants and Statutory Auditors
Britannic House
657 Liverpool Road
Irlam
Manchester
Greater Manchester
M44 5XD



SOLICITORS: Myerson Solicitors LLP
Grosvenor House
20 Barrington Road
Altrincham
Cheshire
WA14 1HB

BAQUS GROUP LIMITED (REGISTERED NUMBER: 06013357)

REPORT OF THE DIRECTORS
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the provision of construction consultancy services to an extensive range of private and public sector clients.

REVIEW OF BUSINESS
Baqus continued its recovery post the pandemic increasing its sales and profit and retaining a healthy cash balance. Like our competitors we suffered material reductions in sales across most client sectors but primarily in our major sector within the hotel and leisure sectors as construction activities effectively ceased. I am confident we will build on the lessons learnt as we embark on the next chapter of our evolution. We have balanced our resources, reduced our service provisions and office requirements to deliver our valued product within a continued volatile market.

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1 April 2023 to the date of this report.

The directors shown below were in office at 31 March 2024 but did not hold any interest in the Ordinary shares of 5p each at 1 April 2023 or 31 March 2024.

Mr R C McNeill
Mr A J Welch
Mr B P Williams
Mr P J Warburton
Mr A R Lewis
Miss J L Munday

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors 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 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 these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.


BAQUS GROUP LIMITED (REGISTERED NUMBER: 06013357)

REPORT OF THE DIRECTORS
for the Year Ended 31 March 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr A J Welch - Director


25 September 2024

BAQUS GROUP LIMITED (REGISTERED NUMBER: 06013357)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 57,625 77,911

CURRENT ASSETS
Debtors 5 1,698,442 1,493,218
Cash at bank 573,286 914,749
2,271,728 2,407,967
CREDITORS
Amounts falling due within one year 6 (562,538 ) (714,818 )
NET CURRENT ASSETS 1,709,190 1,693,149
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,766,815

1,771,060

PROVISIONS FOR LIABILITIES 8 (12,921 ) (17,448 )
NET ASSETS 1,753,894 1,753,612

CAPITAL AND RESERVES
Called up share capital 9 49,876 49,876
Retained earnings 1,704,018 1,703,736
SHAREHOLDERS' FUNDS 1,753,894 1,753,612

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:




Mr A J Welch - Director



Miss J L Munday - Director


BAQUS GROUP LIMITED (REGISTERED NUMBER: 06013357)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Baqus Group Limited is a private company , 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 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is intermediate parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for the services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volumes rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on cost and 10% on cost
Computer equipment - 50% on cost and 33% on cost

BAQUS GROUP LIMITED (REGISTERED NUMBER: 06013357)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial Instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
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.

Classification of financial liabilities
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
Basic financial liabilities, including creditors, bank loans, and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


BAQUS GROUP LIMITED (REGISTERED NUMBER: 06013357)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

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
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at their fair value, or if lower, at the present value of the minimum lease payments, each determined at the inception of the lease. The lease payments are apportioned between finance charges and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are charged directly against income.

Rentals paid under operating leases are charged against profits on a straight line basis over the period 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.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which it belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time vale of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposit held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

BAQUS GROUP LIMITED (REGISTERED NUMBER: 06013357)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 40 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 14,780 134,099 159,587 308,466
Additions - 9,123 11,762 20,885
Disposals - (20,520 ) (31,424 ) (51,944 )
At 31 March 2024 14,780 122,702 139,925 277,407
DEPRECIATION
At 1 April 2023 5,292 105,369 119,894 230,555
Charge for year 3,695 15,659 20,429 39,783
Eliminated on disposal - (19,720 ) (30,836 ) (50,556 )
At 31 March 2024 8,987 101,308 109,487 219,782
NET BOOK VALUE
At 31 March 2024 5,793 21,394 30,438 57,625
At 31 March 2023 9,488 28,730 39,693 77,911

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 579,734 774,888
Amounts owed by group undertakings 857,614 492,136
Other debtors 261,094 226,194
1,698,442 1,493,218

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 128,583 218,160
Taxation and social security 262,530 303,225
Other creditors 171,425 193,433
562,538 714,818

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 277,495 54,513
Between one and five years 499,361 292,257
776,856 346,770

BAQUS GROUP LIMITED (REGISTERED NUMBER: 06013357)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 12,921 17,448

Deferred
tax
£   
Balance at 1 April 2023 17,448
Accelerated capital allowances (4,527 )
Balance at 31 March 2024 12,921

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
99,752,895 Ordinary 5p 49,876 49,876

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Colin Wilkinson (Senior Statutory Auditor)
for and on behalf of C. Wilkinson & Co.

11. RELATED PARTY DISCLOSURES

R McNeill, a director of the company, held a 50% interest in the premises of 44 Manchester Road which is leased to Baqus Group Limited. The cost to the company in the year was £8,500 (2023 : £8,500).

12. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13. ULTIMATE CONTROLLING PARTY

BFM Ventures Limited owns 100% of the share capital of Baqus Group Limited. The registered office of BFM Ventures Limited is 2-3 North Mews, London, England, WC1N 2JP.