REGISTERED NUMBER: 00363675 (England and Wales)

C. B. Baggs Group Limited

Financial Statements for the Year Ended 31st December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C M Bennett-Baggs

J L Bennett-Baggs

D J Bennett-Baggs

P K Davis

REGISTERED OFFICE:

Unit 9

Harrier Road

Humber Bridge Industrial Estate

Barton on Humber

North Lincolnshire

DN18 5RP

REGISTERED NUMBER:

00363675 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

289

569

Investments

6

1,000

1,000

1,289

1,569

CURRENT ASSETS

Debtors

7

4,666,660

4,561,824

Cash at bank

12,884

22,171

4,679,544

4,583,995

CREDITORS

Amounts falling due within one year

8

135,932

127,696

NET CURRENT ASSETS

4,543,612

4,456,299

TOTAL ASSETS LESS CURRENT LIABILITIES

4,544,901

4,457,868

CAPITAL AND RESERVES

Called up share capital

10

42,952

42,952

Capital redemption reserve

11

17,381

17,381

Retained earnings

11

4,484,568

4,397,535

SHAREHOLDERS' FUNDS

4,544,901

4,457,868

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 2nd December 2025 and were signed on its behalf by:

P K Davis - Director

1.	STATUTORY INFORMATION

C. B. Baggs Group 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.

Preparation of consolidated financial statements

The financial statements contain information about C. B. Baggs Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2a) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

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

Turnover represents net invoiced sales of services, excluding value added tax.

Intangible fixed assets

Amortisation is provided at the following annual rates in order to write off each asset over the term of the contract.

Royalties

- 33% on cost

Trademarks

- 10% on cost

Software

- 33% on cost

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset (excluding freehold land) over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold buildings

- 2% on cost

Fixtures and fittings

- between 10% and 20% on cost

Motor vehicles

- 20% on cost

Office and computer equipment

- 33% on cost

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

The company's investments in subsidiary undertakings are stated at cost less provision for impairment. The company's investments in other undertakings are held at market value. Where market value cannot be easily determined, investments are held at cost less provision for impairment.

Equity-settled share-based payment

The cost and corresponding increase in equity in respect of equity-settled share-based payment transactions with employees, are measured by reference to the fair value of equity instruments issued at the date of grant. Amounts are expensed over the vesting period, based on the shares vested at each year-end, which take into account a non-market based vesting condition.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st January 2024

and 31st December 2024

78,600

AMORTISATION

At 1st January 2024

and 31st December 2024

78,600

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

-

5.	TANGIBLE FIXED ASSETS

Office

Fixtures

and

and

computer

fittings

equipment

Totals

£

£

£

COST

At 1st January 2024

and 31st December 2024

39,855

86,033

125,888

DEPRECIATION

At 1st January 2024

39,855

85,464

125,319

Charge for year

-

280

280

At 31st December 2024

39,855

85,744

125,599

NET BOOK VALUE

At 31st December 2024

-

289

289

At 31st December 2023

-

569

569

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2024

and 31st December 2024

1,000

NET BOOK VALUE

At 31st December 2024

1,000

At 31st December 2023

1,000

At 31 December 2024 the company had the following subsidiary:

Name

Type of shares held

Proportion held

Country of registration

Principal activity

Weldtite Products Limited

Ordinary

100%

England & Wales

Cycle accessories

The registered office of the above company is Unit 9 Harrier Road, Humber Bridge Industrial Estate, Barton Upon Humber, DN18 5RP.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

4,593,604

4,493,840

Other debtors

73,056

67,984

4,666,660

4,561,824

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

3,467

3,347

Taxation and social security

67,030

49,455

Other creditors

65,435

74,894

135,932

127,696

9.	LEASING AGREEMENTS

The following operating leases commitments were due at the 31st December:

2024

2023

£

£

Within one year

66,000

66,000

Between one and five years

264,000

264,000

In more than five years

76,698

142,698

406,698

472,698

There were no capital commitments at 31st December 2024 (2023: None).

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

214,759

Ordinary

20p

42,952

42,952

11.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1st January 2024

4,397,535

17,381

4,414,916

Profit for the year

437,033

437,033

Dividends

(350,000

)

(350,000

)

At 31st December 2024

4,484,568

17,381

4,501,949

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Lamb FCA CF (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

13.	PENSION COMMITMENTS

The company operates various defined contribution pension schemes. The charge for the period amounted to £35,141 (2023 £34,284). At 31st December 2024 £Nil was accrued (2023 Nil).

14.	CONTINGENT LIABILITIES

The company has guaranteed long term liabilities due to certain shareholders of the ultimate parent company. These are supported by fixed and floating charges over the assets of the company. The maximum amount due under the arrangement is £5,181,716 (2023 £5,671,716 ).

15.	RELATED PARTY DISCLOSURES

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.

The amount owed to directors within other creditors at the year end was £Nil (2023 £Nil).

16.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Weldtite Manufacturing Limited.