Company No: 01701350 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investments	3	7,633,925		7,633,925
		7,633,925		7,633,925
Current assets
Debtors	4	8,740,428		8,589,474
Cash at bank and in hand		33,432		64,026
		8,773,860		8,653,500
Creditors: amounts falling due within one year	5	( 8,348,199)		( 8,064,560)
Net current assets		425,661		588,940
Total assets less current liabilities		8,059,586		8,222,865
Creditors: amounts falling due after more than one year	6	( 4,389,947)		( 4,479,112)
Net assets		3,669,639		3,743,753
Capital and reserves
Called-up share capital	7	5,538,100		5,538,100
Capital redemption reserve		462,000		462,000
Profit and loss account		( 2,330,461 )		( 2,256,347 )
Total shareholder's funds		3,669,639		3,743,753

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 M. Baker (Property Services) Limited (registered number: 01701350) were approved and authorised for issue by the Board of Directors on 22 December 2025. They were signed on its behalf by:

Mr A E Browne 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

M. Baker (Property Services) 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 Rashleigh Farm, Throwleigh, Okehampton, EX20 2JF, 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 Statement of Financial Position 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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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 Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

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 Statement of Financial Position 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 April 2024	7,803,414
At 31 March 2025	7,803,414
Provisions for impairment
At 01 April 2024	169,489
At 31 March 2025	169,489
Carrying value at 31 March 2025	7,633,925
Carrying value at 31 March 2024	7,633,925

4. Debtors

	2025		2024
	£		£
Amounts owed by Parent undertakings	3,658,090		2,785,740
Amounts owed by fellow subsidiaries	3,871,060		5,263,865
Prepayments and accrued income	637,443		442,438
VAT recoverable	3,646		2,387
Other debtors	570,189		95,044
	8,740,428		8,589,474

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	0		150
Amounts owed to Group undertakings	344,875		235,875
Amounts owed to own subsidiaries	4,148,102		3,983,102
Amounts owed to related parties	3,738,081		3,615,650
Accruals	6,300		6,300
Corporation tax	32,653		46,750
Other creditors	78,188		176,733
	8,348,199		8,064,560

There are no amounts included above in respect of which any security has been given by the small entity.

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

	2025		2024
	£		£
Other loans	4,389,947		4,479,112

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100
5,538,000 Redeemable Preference shares of £ 1.00 each	5,538,000		5,538,000
	5,538,100		5,538,100

The redeemable preference shares are non-voting; otherwise they rank pari passu with the ordinary shares.

The redeemable preference shares are redeemable at the option of the Company at any time on giving not less than ten working days notice. No premium is payable on redemption.

8. Related party transactions

Included in other creditors is £4,445,307 (2024: £4,479,112) owed to the Executors of the Estates of Mrs P R Baker and Mr M T Baker, shareholders in the company's parent company.

Also included in other creditors is £3,760,909 (2024: £3,792,383) owed to entities under common control, family members, and trusts with beneficiaries being close family members.

Included in other debtors was £570,189 (2024: £95,044) owed by entities under common control, family members, and trusts with beneficiaries being close family members.