Company No: 08774972 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	4,078		4,523
Tangible assets	4	595,849		509,684
		599,927		514,207
Current assets
Stocks		17,314		20,027
Debtors	5	364,748		389,069
Cash at bank and in hand		14,235		15,919
		396,297		425,015
Prepayments and accrued income		12,686		0
Creditors: amounts falling due within one year	6	( 566,276)		( 442,157)
Net current liabilities		(157,293)		(17,142)
Total assets less current liabilities		442,634		497,065
Creditors: amounts falling due after more than one year	7	( 454,260)		( 290,701)
Provision for liabilities		( 5,320)		( 55,791)
Net (liabilities)/assets		( 16,946)		150,573
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		( 17,046 )		150,473
Total shareholder's (deficit)/funds		( 16,946)		150,573

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Baker Tom Limited (registered number: 08774972) were approved and authorised for issue by the Board of Directors on 16 December 2025. They were signed on its behalf by:

Mr T Hazzledine Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Baker Tom Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 14 Wilson Way, Pool, Redruth, Cornwall, TR15 3RT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company. Revenue is recognised at the point of despatch or point of sale at the till.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	10 years straight line
Website costs	10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings	10 years straight line
Leasehold improvements	10 years straight line
Plant and machinery	10 years straight line
Vehicles	10 years straight line
Office equipment	10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	55		52

3. Intangible assets

	Goodwill		Website costs		Total
	£		£		£
Cost
At 01 April 2024	10,000		4,700		14,700
At 31 March 2025	10,000		4,700		14,700
Accumulated amortisation
At 01 April 2024	10,000		177		10,177
Charge for the financial year	0		445		445
At 31 March 2025	10,000		622		10,622
Net book value
At 31 March 2025	0		4,078		4,078
At 31 March 2024	0		4,523		4,523

4. Tangible assets

	Land and buildings		Leasehold improve- ments		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£		£
Cost
At 01 April 2024	0		24,288		729,456		246,840		16,610		1,017,194
Additions	116,095		1,211		87,957		0		0		205,263
Disposals	0		0		( 47,384)		( 34,112)		0		( 81,496)
At 31 March 2025	116,095		25,499		770,029		212,728		16,610		1,140,961
Accumulated depreciation
At 01 April 2024	0		9,063		343,013		149,777		5,657		507,510
Charge for the financial year	11,685		2,515		65,248		17,577		1,653		98,678
Disposals	0		0		( 33,984)		( 27,092)		0		( 61,076)
At 31 March 2025	11,685		11,578		374,277		140,262		7,310		545,112
Net book value
At 31 March 2025	104,410		13,921		395,752		72,466		9,300		595,849
At 31 March 2024	0		15,225		386,443		97,063		10,953		509,684

5. Debtors

	2025		2024
	£		£
Trade debtors	75,112		162,701
Corporation tax	0		15
Other debtors	289,636		226,353
	364,748		389,069

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	136,068		68,850
Trade creditors	125,296		145,477
Taxation and social security	82,603		80,671
Obligations under finance leases and hire purchase contracts	34,765		18,128
Other creditors	187,544		129,031
	566,276		442,157

Bank loans and overdrafts are secured via fixed and floating charges including a negative pledge, held over all assets, property or undertaking of the company.

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

	2025		2024
	£		£
Bank loans	5,286		15,661
Other loans	366,732		218,277
Obligations under finance leases and hire purchase contracts (secured)	82,242		56,763
	454,260		290,701

Hire purchases are secured against the assets in which they relate too.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating lease	573,245		80,451

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Director's loan	158,497		103,840

During the year, the company advanced £67,768 to a director, of which £16,104 was repaid. Interest totalling £2,993 has been charged on the balance at the actual official rate set out by HMRC. The total amount due to the company at the year end was £158,497 (2024: £103,840) and is repayable on demand.