Baseline Investments II Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12575002

Baseline Investments II Limited

Filleted Unaudited Financial Statements

31 December 2024

Baseline Investments II Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	2,655	1,000

Current assets

Stocks		41,100	171,933
Debtors	6	132,650	370,166
Cash at bank and in hand		700	6,572
		---------	---------
		174,450	548,671

Creditors: amounts falling due within one year	7	92,174	52,136
		---------	---------
Net current assets		82,276	496,535
		--------	---------
Total assets less current liabilities		84,931	497,535

Creditors: amounts falling due after more than one year	8	65,463	481,663

Provisions	987	–
	--------	---------
Net assets	18,481	15,872
	--------	---------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	17,481	14,872
	--------	--------
Shareholders funds	18,481	15,872
	--------	--------

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 income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Baseline Investments II Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mr M Lambert

Director

Company registration number: 12575002

Baseline Investments II Limited

Notes to the Financial Statements

Year ended 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 International House, 36-38 Cornhill, London, United Kingdom, EC3V 3NG. The principal activity of the company was sale of used cars and light motor vehicles.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

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:

Plant and machinery	-	25% reducing balance
Equipment	-	25% reducing balance

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Tangible assets

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1 January 2024	–	1,333	1,333
Additions	625	1,915	2,540
	----	-------	-------
At 31 December 2024	625	3,248	3,873
	----	-------	-------
Depreciation
At 1 January 2024	–	333	333
Charge for the year	156	729	885
	----	-------	-------
At 31 December 2024	156	1,062	1,218
	----	-------	-------
Carrying amount
At 31 December 2024	469	2,186	2,655
	----	-------	-------
At 31 December 2023	–	1,000	1,000
	----	-------	-------

6. Debtors

	2024	2023
	£	£
Trade debtors	128,104	195,444
Other debtors	4,546	174,722
	---------	---------
	132,650	370,166
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	77,021	51,015
Social security and other taxes	15,153	1,121
	--------	--------
	92,174	52,136
	--------	--------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	65,463	481,663
	--------	---------

9. Directors' advances, credits and guarantees

During the year a director repaid to the company £20,316. The balance owed by the directors at 31 December 2024 was £NIL; 2023: £(20,316).

10. Related party transactions

The company was under the control of Mr M Lambert . During the year, amounts were received from from Baseline Investments ROI, a related party. The balance outstanding at 31 December 2024 was £65,463 (2023: £481,663).