Baa Bar Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02623950

Baa Bar Limited

Filleted Financial Statements

31 December 2024

Baa Bar Limited

Statement of Financial Position

31 December 2024

	31 Dec 24		31 Jul 23
Note	£	£	£

Fixed assets

Intangible assets	5	218,306	273,697
Tangible assets	6	1,619,146	1,712,177
		------------	------------
		1,837,452	1,985,874

Current assets

Stocks		81,834	140,262
Debtors	7	597,865	1,548,998
Cash at bank and in hand		918,537	863,449
		------------	------------
		1,598,236	2,552,709

Creditors: amounts falling due within one year	8	2,398,368		2,016,767
		------------		------------
Net current (liabilities)/assets			( 800,132)	535,942
			------------	------------
Total assets less current liabilities			1,037,320	2,521,816

Provisions	1,159,728	1,160,390
	------------	------------
Net (liabilities)/assets	( 122,408)	1,361,426
	------------	------------

Capital and reserves

Called up share capital	2,000	2,000
Revaluation reserve	785,254	1,077,441
Profit and loss account	( 909,662)	281,985
	---------	------------
Shareholders (deficit)/funds	( 122,408)	1,361,426
	---------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Baa Bar Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Mrs E M Clarke

Director

Company registration number: 02623950

Baa Bar Limited

Notes to the Financial Statements

Period from 1 August 2023 to 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2nd Floor, 126a Bold Street, Liverpool, L1 4JA, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Employee ownership trust

The Baa Bar Employee Ownership Trust has been established with the object of ensuring that shares in the company are held for the benefit of the company's employees and that the eligible employees shall have an interest in the company's business.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable for the provision of goods to customers outside the company net of returns and sales allowances (and VAT). Revenue from goods is recognised at the point the company fulfils its commercial obligations to the customer, the revenue and costs in respect of the transaction can be measured reliably and collectability is reasonably assured.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

The company has taken advantage of the exemption provided by FRS 103 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and elected to use the previous UK GAAP revaluations of land and buildings as their deemed cost on the date of transition to FRS102. The previous UK GAAP revaluations were undertaken in March 2008 and March 2013 by Colliers CRE in accordance with the valuation standards of the Royal Institute of Chartered Surveyors.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	2% reducing balance
Fixtures and fittings	-	20% reducing balance
Motor vehicles	-	20% reducing balance
Leasehold improvements	-	20% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 128 (2023: 158 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 August 2023 and 31 December 2024	390,998
	---------
Amortisation
At 1 August 2023	117,301
Charge for the period	55,391
	---------
At 31 December 2024	172,692
	---------
Carrying amount
At 31 December 2024	218,306
	---------
At 31 July 2023	273,697
	---------

6. Tangible assets

	Long leasehold property	Fixtures and fittings	Motor vehicles	Leasehold improv.	Total
	£	£	£	£	£
Cost
At 1 August 2023	1,610,789	2,036,744	56,658	1,117,180	4,821,371
Additions	–	121,030	–	–	121,030
	------------	------------	--------	------------	------------
At 31 December 2024	1,610,789	2,157,774	56,658	1,117,180	4,942,401
	------------	------------	--------	------------	------------
Depreciation
At 1 August 2023	403,664	1,669,619	11,332	1,024,579	3,109,194
Charge for the period	42,098	135,556	12,284	24,123	214,061
	------------	------------	--------	------------	------------
At 31 December 2024	445,762	1,805,175	23,616	1,048,702	3,323,255
	------------	------------	--------	------------	------------
Carrying amount
At 31 December 2024	1,165,027	352,599	33,042	68,478	1,619,146
	------------	------------	--------	------------	------------
At 31 July 2023	1,207,125	367,125	45,326	92,601	1,712,177
	------------	------------	--------	------------	------------

Tangible assets held at valuation

Long leasehold property is held at deemed cost after transition to FRS 102. Historical cost is £160,789 (2023 - £160,789) and accumulated depreciation £80,395 (2023 - £77,179).

7. Debtors

	31 Dec 24	31 Jul 23
	£	£
Trade debtors	52,690	107,175
Amounts owed by group undertakings and undertakings in which the company has a participating interest	282,778	282,000
Other debtors	262,397	1,159,823
	---------	------------
	597,865	1,548,998
	---------	------------

8. Creditors: amounts falling due within one year

	31 Dec 24	31 Jul 23
	£	£
Trade creditors	498,195	409,390
Corporation tax	516,439	336,696
Social security and other taxes	159,792	730,092
Other creditors	1,223,942	540,589
	------------	------------
	2,398,368	2,016,767
	------------	------------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	31 Dec 24	31 Jul 23
	£	£
Not later than 1 year	329,307	307,560
Later than 1 year and not later than 5 years	1,237,643	987,517
Later than 5 years	1,331,153	1,133,800
	------------	------------
	2,898,103	2,428,877
	------------	------------

10. Employee ownership trust

On 27th September 2024 Baa Bar Trustees Limited, being the trustee of Baa Bar Employee Ownership Trust acquired 100% of the ordinary share capital of Brabco 1419 Limited, the parent undertaking of Baa Bar Limited .

11. Summary audit opinion

The auditor's report dated 29 September 2025 was unqualified .

The senior statutory auditor was Andrew Wild FCA , for and on behalf of TLP Consulting Limited .

12. Directors' advances, credits and guarantees

During the year the director received advances of £284,317 and repaid £1,180,000 to the company.

13. Related party transactions

The company made a gift of £2,750,000 (2023 - £nil) to the Baa Bar Employee Ownership Trust. Future gifts will be made at the discretion of the company Directors based on available cashflows and the performance of the business. No further transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.

14. Controlling party

The company is controlled by Brabco 1419 Limited who is under the control of Baa Bar Trustees Limited, being the trustee of Baa Bar Employee Ownership Trust.