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REGISTERED NUMBER: 01632310 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

BAAS CONSTRUCTION LIMITED

BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

| Page |

Company Information | 1 |

Balance Sheet | 2 |  | to |  | 3

Notes to the Financial Statements | 4 |  | to |  | 8

BAAS CONSTRUCTION LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31ST MARCH 2025

| DIRECTORS: | Mr K O'Connell

| Mr H Williams

| Mr A O'Connell

| Mr D J Jones

| Mr S J Harrison

| REGISTERED OFFICE: | The Old Chapel

| Brooklands Road

| Burnley

| Lancashire

| BB11 3PR

| REGISTERED NUMBER: | 01632310 (England and Wales)

| ACCOUNTANTS: | Ainsworths Limited

| Chartered Accountants

| Charter House

| Stansfield Street

| Nelson

| Lancashire

| BB9 9XY

BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

BALANCE SHEET

31ST MARCH 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 453,654 |  | 485,372 |  |

Investments | 5 | 301 |  | 301 |  |

Investment property | 6 | 605,824 |  | 500,000 |  |

1,059,779 |  | 985,673 |  |

CURRENT ASSETS

Stocks | 7 | 1,269,393 |  | 697,229 |  |

Debtors | 8 | 3,490,486 |  | 948,814 |  |

Investments | 9 | 237,970 |  | 228,173 |  |

Cash at bank and in hand | 8,208,497 |  | 12,157,554 |  |

13,206,346 |  | 14,031,770 |  |

CREDITORS

Amounts falling due within one year | 10 | 1,717,559 |  | 2,346,665 |  |

NET CURRENT ASSETS | 11,488,787 |  | 11,685,105 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 12,548,566 |  | 12,670,778 |  |

PROVISIONS FOR LIABILITIES | 61,931 |  | 67,646 |  |

NET ASSETS | 12,486,635 |  | 12,603,132 |  |

CAPITAL AND RESERVES

Called up share capital | 142 |  | 105 |  |

Share premium | 544,000 |  | 544,000 |  |

Capital redemption reserve | 70 |  | 70 |  |

Retained earnings | 11,942,423 |  | 12,058,957 |  |

SHAREHOLDERS' FUNDS | 12,486,635 |  | 12,603,132 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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.

BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

BALANCE SHEET - continued

31ST MARCH 2025

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th May 2025 and were signed on its behalf by:

Mr K O'Connell - Director

BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

1. | STATUTORY INFORMATION

| BAAS Construction Limited is a private company, limited by shares , 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 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 as modified by the revaluation of certain assets.

| Consolidation

| The accounts contain information about BAAS Construction Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt from the requirement to prepare consolidated financial statements as both of the subsidiary undertakings are immaterial.

| Turnover

| Turnover represents net invoiced work and, on long term contracts, a percentage of the total contract value based upon the stage of completion of the work carried out.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Land and buildings | - | 10% on cost / lease term and 2% on cost

| Plant and machinery etc | - | 20% on reducing balance, 15% on reducing balance and 10% on reducing balance

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Stocks

| Stock and work-in-progress are stated at the lower of cost and net realisable value.

| Cost includes all direct expenditure and an appropriate proportion of overheads.

| Net realisable value is based on estimated selling prices less all further costs to completion and disposal.

| Long-term contract work-in-progress is stated at cost plus, where the outcome can be assessed with reasonable certainty, estimated profits attributable to the stage of completion, less provision for any known or anticipated losses and progress payments receivable on account.

| Advance and progress payments are included under creditors to the extent that they exceed the related work-in-progress.

| Taxation

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

BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

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

| Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease.

| All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the term 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.

| Investments

| Fixed asset investments are included at cost less amounts written off. Profits or losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.

| Current asset investments are included at their fair value. Profits or losses arising from the disposal of current asset investments are treated as part of the result from ordinary activities.

| Investments in subsidiary undertakings are stated at cost less any provisions for impairment in value.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 37 (2024 - 36 ) .

BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1st April 2024 | 68,179 |  | 1,048,833 |  | 1,117,012 |  |

| Additions | - |  | 114,391 |  | 114,391 |  |

| Disposals | - |  | (113,059 | ) | (113,059 | ) |

| At 31st March 2025 | 68,179 |  | 1,050,165 |  | 1,118,344 |  |

| DEPRECIATION

| At 1st April 2024 | 30,091 |  | 601,549 |  | 631,640 |  |

| Charge for year | 979 |  | 81,480 |  | 82,459 |  |

| Eliminated on disposal | - |  | (49,409 | ) | (49,409 | ) |

| At 31st March 2025 | 31,070 |  | 633,620 |  | 664,690 |  |

| NET BOOK VALUE

| At 31st March 2025 | 37,109 |  | 416,545 |  | 453,654 |  |

| At 31st March 2024 | 38,088 |  | 447,284 |  | 485,372 |  |

5. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1st April 2024

| and 31st March 2025 | 301 |  |

| NET BOOK VALUE

| At 31st March 2025 | 301 |  |

| At 31st March 2024 | 301 |  |

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1st April 2024 | 500,000 |  |

| Additions | 105,824 |  |

| At 31st March 2025 | 605,824 |  |

| NET BOOK VALUE

| At 31st March 2025 | 605,824 |  |

| At 31st March 2024 | 500,000 |  |

BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

6. | INVESTMENT PROPERTY - continued

| Fair value at 31st March 2025 is represented by:

£ |

| Valuation in 2025 | 605,824 |  |

| If investment property had not been revalued it would have been included at the following historical cost:

| 31.3.25 |  | 31.3.24

£ | £ |

| Cost | 605,824 |  | 500,000 |  |

| Investment property was valued on a fair value basis on 31st March 2025 by the directors .

7. | STOCKS

| 31.3.25 |  | 31.3.24

£ | £ |

| Stocks | 524,516 |  | - |  |

| Work in progress | 744,877 |  | 697,229 |  |

1,269,393 |  | 697,229 |  |

8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade debtors | 3,000,504 |  | 576,844 |  |

| Other debtors | 489,982 |  | 371,970 |  |

3,490,486 |  | 948,814 |  |

9. | CURRENT ASSET INVESTMENTS

| Current asset investments comprise listed investments stated at fair value.

10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade creditors | 989,331 |  | 1,037,325 |  |

| Taxation and social security | 670,002 |  | 1,283,583 |  |

| Other creditors | 58,226 |  | 25,757 |  |

1,717,559 |  | 2,346,665 |  |

11. | CONTINGENT LIABILITIES

| Performance bonds to the value of £168,515 (2024: £168,525) were in place at the year end. The bonds are underwritten by the company's bankers and secured by an unlimited debenture on the assets of the company.

BAAS CONSTRUCTION LIMITED (REGISTERED NUMBER: 01632310)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2025

12. | OTHER FINANCIAL COMMITMENTS

| At 31st March 2025 the company had total commitments under non-cancellable operating leases over the remaining life of those leases amounting to £49,971 (2024: £87,141).

13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| During the period the company rented one of its properties for £30,000 (2024: £30,000) from the BAAS Construction Retirement Benefit Scheme, a pension scheme in which Mr K O'Connell and Mr A O'Connell (who are directors and shareholders) have a material interest.

14. | ULTIMATE CONTROLLING PARTY

| In the opinion of the directors the ultimate controlling party of the company is the majority shareholder Mr K O'Connell. Mr K O'Connell is also a director of the company.