REGISTERED NUMBER: 01632310 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

BAAS CONSTRUCTION LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

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

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.

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

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.

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 ) .

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

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.

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