REGISTERED NUMBER: SC074206 (Scotland)

Financial Statements for the Year Ended 31 December 2024

for

Baxel Limited

Page

Company Information

1

Income Statement

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

I M Finnie

A Wallace

REGISTERED OFFICE:

Greenwhins

Craigton Road

Cults

Aberdeen

AB15 9QJ

REGISTERED NUMBER:

SC074206 (Scotland)

ACCOUNTANTS:

Findlay Brown Ltd

Chartered Certified Accountants

53 Huntly Street

Aberdeen

AB10 1TH

TURNOVER

4,000

4,200

Administrative expenses

18,082

38,945

(14,082

)

(34,745

)

Other operating income

52,730

60,034

OPERATING PROFIT

38,648

25,289

Interest payable and similar expenses

29,405

27,484

PROFIT/(LOSS) BEFORE TAXATION

9,243

(2,195

)

Tax on profit/(loss)

-

-

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

9,243

(2,195

)

CURRENT ASSETS

Stocks

20,000

20,000

Cash at bank

2,953

4,546

22,953

24,546

CREDITORS

Amounts falling due within one year

4

282,848

286,259

NET CURRENT LIABILITIES

(259,895

)

(261,713

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(259,895

)

(261,713

)

CREDITORS

Amounts falling due after more than one year

5

30,854

38,279

NET LIABILITIES

(290,749

)

(299,992

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(290,849

)

(300,092

)

SHAREHOLDERS' FUNDS

(290,749

)

(299,992

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

A Wallace - Director

1.	STATUTORY INFORMATION

Baxel Limited is a private company, limited by shares , registered in Scotland. 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

228,228

228,059

Trade creditors

51,302

55,682

Taxation and social security

18

18

Other creditors

3,300

2,500

282,848

286,259

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

30,854

38,279

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

6,044

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

259,082

266,338

Lending of £220,000 (2023: £220,000) secured by Standard Security, Floating Charge and directors personal guarantees.

7.	ULTIMATE CONTROLLING PARTY

The directors control the company