Registration number:
Baldwin Technical Services Limited
for the Year Ended 30 April 2025
Baldwin Technical Services Limited
Contents
|
Company Information |
|
|
Balance Sheet |
|
|
Notes to the Financial Statements |
Baldwin Technical Services Limited
Company Information
|
Directors |
Mr C Baldwin Mr C K Flanagan Mr S Drew Mr J Beattie |
|
Registered office |
|
|
Auditors |
|
Baldwin Technical Services Limited
(Registration number: 05159917)
Balance Sheet as at 30 April 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Provisions for liabilities |
- |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
1,000 |
1,000 |
|
|
Revaluation reserve |
101,577 |
102,718 |
|
|
Retained earnings |
362,997 |
537,013 |
|
|
Shareholders' funds |
465,574 |
640,731 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
|
......................................... |
Baldwin Technical Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2025
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency is considered to be Pounds Sterling because it is the operational currency of the primary economic environment in which the company operates.
Audit report
Going concern
The financial statements have been prepared on a going concern basis.
Baldwin Technical Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2025
Revenue recognition
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.
Revenue from the sale of goods and provision of services is recognised when the significant risks and rewards of ownership are transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred, or to be incurred, in respect of the transactions can be measured reliably.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current Corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated amortisation and accumulated impairment losses. Internally generated development costs are identified where there is an expectation that this cost can be reliably measured and will generate probable future economic benefits which exceed one year are recognised as an intangible asset.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Development costs |
Over 3 years |
Baldwin Technical Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2025
Tangible assets
Land and buildings held and used in the company's own activities for the production and supply of goods and services and for administrative purposes are stated in the Balance Sheet at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any subsequent accumulated depreciation or impairment losses. Revaluations are carried out regularly so that carrying amounts do not materially differ from their fair value at the Balance Sheet date.
Any revaluation increase or decrease on land and buildings is credited to the revaluation reserve included in reserves.
Other tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost or revlauation of assets, over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Leasehold land and buildings |
Over the unexpired term of the lease (currently over 50 years unexpired at the year-end) |
|
Fixtures, fittings and equipment |
15% reducing balance per annum |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade debtors
Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.
Trade debtors and other receivables are recognised initially at the transaction price less provision for impairment. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Baldwin Technical Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2025
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade creditors and other payables are recognised at the original transaction price.
Provisions
Provisions are recognised when the company has an obligation at the reporting date 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.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Recognition and measurement
Impairment
Baldwin Technical Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2025
Current versus non-current classification
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
|
Intangible assets |
|
Internally generated software development costs |
Total |
|
|
Cost or valuation |
||
|
At 1 May 2024 |
|
|
|
Disposals |
( |
( |
|
At 30 April 2025 |
- |
- |
|
Amortisation |
||
|
At 1 May 2024 |
|
|
|
Amortisation eliminated on disposals |
( |
( |
|
At 30 April 2025 |
- |
- |
|
Carrying amount |
||
|
At 30 April 2025 |
- |
- |
Baldwin Technical Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2025
|
Tangible assets |
|
Land and buildings |
Furniture, fittings and equipment |
Total |
|
|
Cost or valuation |
|||
|
At 1 May 2024 |
|
|
|
|
Additions |
- |
|
|
|
At 30 April 2025 |
|
|
|
|
Depreciation |
|||
|
At 1 May 2024 |
|
|
|
|
Charge for the year |
|
|
|
|
At 30 April 2025 |
|
|
|
|
Carrying amount |
|||
|
At 30 April 2025 |
|
|
|
|
At 30 April 2024 |
|
|
|
Included within the net book value of land and buildings above is £411,140 (2024 - £415,760) in respect of freehold land and buildings.
|
Stocks |
|
2025 |
2024 |
|
|
Raw materials and consumables |
|
|
|
Work in progress |
|
|
|
|
|
|
Debtors |
|
2025 |
2024 |
|
|
Trade debtors |
|
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
|
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
Baldwin Technical Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2025
|
Creditors |
Creditors: amounts falling due within one year
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Trade creditors |
|
|
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
|
|
Taxation and social security |
|
|
|
|
Accruals and deferred income |
|
|
|
|
Other creditors |
|
|
|
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
950 |
|
950 |
|
|
|
50 |
|
50 |
|
|
|
|
|
|
Baldwin Technical Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2025
|
Related party transactions |
|
Transactions with directors |
|
2025 |
At 1 May 2024 |
Advances to director |
Repayments by director |
At 30 April 2025 |
|
Mr J Beattie |
||||
|
Unsecured and repayable on demand; interest charged at the official rate |
|
|
( |
|
|
Mr S Drew |
||||
|
Unsecured and repayable on demand; interest charged at the official rate |
- |
|
- |
|
|
2024 |
At 1 May 2023 |
Advances to director |
Repayments by director |
At 30 April 2024 |
|
Mr J Beattie |
||||
|
Unsecured and repayable on demand; interest charged at the official rate |
|
|
( |
|
Summary of transactions with parent
Baldwin Engineering Group Limited
The bank borrowings of Baldwin Engineering Group Limited are secured upon group assets by fixed and floating charges including an inter-company cross guarantee with Barclays Bank Plc created 27 March 2025. At 30 April 2025 the amounts secured on group assets amounted to £3,013,332 (2024 - £2,143,080).
Baldwin Technical Services Limited
Notes to the Financial Statements for the Year Ended 30 April 2025
Summary of transactions with other related parties
Subsidiary companies of Baldwin Engineering Group Limited
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The largest and smallest group into which these financial statements are consolidated is Baldwin Engineering Group Limited. The consolidated financial statements of Baldwin Engineering Group Limited are available upon request from the Registrar of Companies, Companies House, Crown Way, Cardiff CF14 3UZ.