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Registration number: 05159917

Baldwin Technical Services Limited

Filleted Financial Statements

for the Year Ended 30 April 2024

 

Baldwin Technical Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 11

 

Baldwin Technical Services Limited

Company Information

Directors

Mr C Baldwin

Mr C K Flanagan

Mr S Drew

Mr J Beattie

Registered office

310 Phoenix Business Park
Phoenix Close
Heywood
Lancashire
OL10 2JG

Auditors

Hargreaves Brown & Benson
Chartered Accountants and Registered Auditor
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Baldwin Technical Services Limited

(Registration number: 05159917)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

13,000

Tangible assets

5

455,600

454,184

 

455,600

467,184

Current assets

 

Stocks

6

240,079

233,274

Debtors

7

1,608,966

837,345

Cash at bank and in hand

 

153,745

497,945

 

2,002,790

1,568,564

Creditors: Amounts falling due within one year

8

(1,807,699)

(1,243,309)

Net current assets

 

195,091

325,255

Total assets less current liabilities

 

650,691

792,439

Provisions for liabilities

(9,960)

(6,423)

Net assets

 

640,731

786,016

Capital and reserves

 

Called up share capital

9

1,000

100

Revaluation reserve

102,718

103,859

Retained earnings

537,013

682,057

Shareholders' funds

 

640,731

786,016

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 April 2025 and signed on its behalf by:
 

.........................................
Mr C Baldwin
Director

 

Baldwin Technical Services Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

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:
310 Phoenix Business Park
Phoenix Close
Heywood
Lancashire
OL10 2JG

These financial statements were authorised for issue by the Board on 4 April 2025.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements contain information about Baldwin Technical Services Limited as an individual company.

The functional currency is considered to be Pounds Sterling because it is the operational currency of the primary economic environment in which the company operates.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 4 April 2025 was Steven Wood FCA, who signed for and on behalf of Hargreaves Brown & Benson.

Going concern

The financial statements have been prepared on a going concern basis.

 

Baldwin Technical Services Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

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 Value Added Tax, returns, rebates and discounts.

Revenue from the sale of goods and provision of services is recognised when the significant risks and rewards of ownership are transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred, or to be incurred, in respect of the transactions can be measured reliably.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current Corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated amortisation and accumulated impairment losses. Internally generated development costs are identified where there is an expectation that this cost can be reliably measured and will generate probable future economic benefits which exceed one year are recognised as an intangible asset.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development costs

Over 3 years

 

Baldwin Technical Services Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Tangible assets

Land and buildings held and used in the company's own activities for the production and supply of goods and services and for administrative purposes are stated in the Balance Sheet at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any subsequent accumulated depreciation or impairment losses. Revaluations are carried out regularly so that carrying amounts do not materially differ from their fair value at the Balance Sheet date.

Any revaluation increase or decrease on land and buildings is credited to the revaluation reserve included in reserves.

Other tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost or revlauation of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold land and buildings

Over the unexpired term of the lease (currently over 50 years unexpired at the year-end)

Fixtures, fittings and equipment

15% reducing balance per annum

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors and other receivables are recognised initially at the transaction price less provision for impairment. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Baldwin Technical Services Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade creditors and other payables are recognised at the original transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified, and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 Recognition and measurement
Basic financial instruments, including trade and other receivables, cash and bank balances, and trade and other payables, are initially recognised at the transaction price.

 Impairment
At the end of each accounting period, financial instruments are assessed for objective evidence of impairment. If the asset is impaired the impairment loss is recognised in the profit or loss for the accounting period.

Current versus non-current classification

Financial instruments are classified as current if there is no unconditional right, at the end of the reporting period, to defer settlement of the financial instrument for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current.

 

Baldwin Technical Services Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 34 (2023 - 31).

 

Baldwin Technical Services Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 May 2023

39,000

39,000

At 30 April 2024

39,000

39,000

Amortisation

At 1 May 2023

26,000

26,000

Amortisation charge

13,000

13,000

At 30 April 2024

39,000

39,000

Carrying amount

At 30 April 2024

-

-

At 30 April 2023

13,000

13,000

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

425,000

62,972

487,972

Additions

-

12,187

12,187

At 30 April 2024

425,000

75,159

500,159

Depreciation

At 1 May 2023

4,620

29,168

33,788

Charge for the year

4,620

6,151

10,771

At 30 April 2024

9,240

35,319

44,559

Carrying amount

At 30 April 2024

415,760

39,840

455,600

At 30 April 2023

420,380

33,804

454,184

Included within the net book value of land and buildings above is £415,760 (2023 - £420,380) in respect of freehold land and buildings.
 

 

Baldwin Technical Services Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

6

Stocks

2024
£

2023
£

Raw materials and consumables

3,750

3,750

Work in progress

236,329

229,524

240,079

233,274

7

Debtors

2024
£

2023
£

Trade debtors

971,380

534,553

Amounts owed by group undertakings and undertakings in which the company has a participating interest

544,879

212,810

Prepayments

42,389

62,546

Other debtors

50,318

27,436

1,608,966

837,345

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

657,401

363,197

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

544,772

157,646

Taxation and social security

 

166,506

197,208

Accruals and deferred income

 

424,214

519,046

Other creditors

 

14,806

6,212

 

1,807,699

1,243,309

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary 'A' shares of £1 each

950

950

95

95

Ordinary 'B' shares of £1 each

50

50

5

5

1,000

1,000

100

100

 

Baldwin Technical Services Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

10

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Mr J Beattie

Unsecured and repayable on demand; interest charged at the official rate

27,440

121,837

(101,715)

47,562

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mr J Beattie

Unsecured and repayable on demand; interest charged at the official rate

29,886

104,026

(106,472)

27,440

Summary of transactions with parent


Baldwin Engineering Holdings Limited

 During the year Baldwin Engineering Holdings Limited advanced unsecured, interest-free loans to the company. At 30 April 2024 the amounts payable in respect of loans amounted to £364,177 (2023 - £114,359). There are no fixed terms for repayment and the loan is repayable on demand. During the year Baldwin Techincal Services Limited issued a dividend of £351,715 (2023 - £106,472) to Baldwin Engineering Holdings Limited.

The bank borrowings of Baldwin Engineering Holdings Limited are secured upon group assets by fixed and floating charges including an inter-company cross guarantee created 01 February 2019. At 30 April 2024 the amounts secured on group assets amounted to £2,143,080 (2023 - £2,236,747).

 

Summary of transactions with other related parties


Subsidiary companies of Baldwin Engineering Holdings Limited Group

 During the year CFE Lighting Ltd, a fellow subsidiary of the Baldwin Engineering Holdings Limited Group advanced unsecured, interest-free loans to the company. At 30 April 2024 the amounts payable in respect of loans amounted to £180,595 (2023 - £43,278). There are no fixed terms for repayment and the loan is repayable on demand.
 

 

Baldwin Technical Services Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

11

Parent and ultimate parent undertaking

The company's immediate parent is Baldwin Engineering Holdings Limited, incorporated in England and Wales.

The largest and smallest group into which these financial statements are consolidated is Baldwin Engineering Holdings Limited. The consolidated financial statements of Baldwin Engineering Holdings Limited are available upon request from the Registrar of Companies, Companies House, Crown Way, Cardiff CF14 3UZ.