Registration number:
BAEMS Limited
for the Year Ended 31 July 2025
BAEMS Limited
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account and Statement of Retained Earnings |
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Balance Sheet |
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Statement of Cash Flows |
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Notes to the Financial Statements |
BAEMS Limited
Company Information
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Director |
Mr Shaun David Pillinger |
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Registered office |
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Auditors |
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BAEMS Limited
Strategic Report for the Year Ended 31 July 2025
The director presents his strategic report for the year ended 31 July 2025.
Principal activity
The principal activity of the company is the provision of ambulance transport and medical courier services.
Fair review of the business
Revenue
Revenues increased by 13.1% from 2024 primarily driven by demand from the NHS, which remains under significant operational pressure. Demand for our high-dependency, frontline, and non-emergency patient transport services has remained strong across the South West of England.
Looking ahead to 2026, revenue growth is expected to face challenges as a result of centrally driven NHS reforms. NHS trusts are under increasing pressure to reduce expenditure and tighten budgets, which may impact future contract values and service demand.
Business Performance
BAEMS Limited reported an operating profit before administrative expenses of £9.6 million in 2025, compared to £8.4 million in 2024. However, the forecast operating profit before administrative expenses for 2026 is expected to decline to £6.7 million, reflecting anticipated market pressures.
Administrative expenses include operational costs including Employment costs and General expenses like telephone & computer costs including software this was offset by other income. Resulting in an overall pre-tax profit of £1.71m.
We continue to invest heavily in training and have had several very successful recruitment campaigns utilising our revamped social media presence.
We continue to invest in vehicles and equipment to ensure our crews have the highest quality tools to help them deliver ‘outstanding’ patient care.
Future developments
Increases in the National Minimum Wage from 1 April 2026, alongside broader inflationary pressures, are expected to increase cost levels. These impacts are anticipated to be mitigated through contractual price adjustment mechanisms and the implementation of operational efficiencies.
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Turnover |
£'000 |
30,022 |
26,536 |
|
Gross Profit |
£'000 |
9,672 |
8,357 |
|
Net profit before taxation |
£'000 |
1,712 |
1,697 |
BAEMS Limited
Strategic Report for the Year Ended 31 July 2025
Principal risks and uncertainties
The company operates in a competitive environment where key contracts are awarded through periodic open tender processes. To mitigate this risk, the company maintains strong relationships with key customers and prioritises service quality alongside competitive pricing to support contract retention. It also actively monitors the market for new tender opportunities to expand its portfolio.
Inflationary pressures and rising wage costs continue to present challenges, particularly within the supply chain. Additionally, the labour market remains constrained due to ongoing pressures on the NHS and growth within the independent ambulance sector.
The risk of significant compensation claims arising from vehicle incidents or clinical care is mitigated through comprehensive staff training, continuous professional development, robust standard operating procedures, effective supervision, and appropriate insurance coverage.
Approved and authorised by the
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BAEMS Limited
Director's Report for the Year Ended 31 July 2025
The director presents his report and the financial statements for the year ended 31 July 2025.
Director of the company
The director who held office during the year was as follows:
Going concern
At 31 July 2025 the company had a cash balance of £440,000, net current assets of £1.6m and outstanding loan liabilities for Cashflow loans of £500,000.
Due to an ongoing dispute with HMRC surrounding the treatment of VAT on patient transport services, BAEMS, supported by independent advisors view that the treatment was correctly applied, appealed to court to get an independent ruling. The total value of VAT recognised as a debtor was £1.019m at 31 July 2025.
The business has long term contracts/Framework agreements with key customers which provides a certainty of income in the short and medium to long term. It is important to note that ongoing increases in taxation and continued financial pressures on the NHS, including budget constraints, introduce a level of uncertainty to the company’s future trading environment.
Taking into account these factors, the director has concluded that it is appropriate to prepare the financial statements on a going concern basis.
Disclosure of information to the auditors
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.
Approved and authorised by the
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BAEMS Limited
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
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• |
select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
BAEMS Limited
Independent Auditor's Report to the Members of BAEMS Limited
Opinion
We have audited the financial statements of BAEMS Limited (the 'company') for the year ended 31 July 2025, which comprise the Profit and Loss Account and Statement of Retained Earnings, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 July 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The director is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
BAEMS Limited
Independent Auditor's Report to the Members of BAEMS Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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• |
the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities [set out on page 5], the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
BAEMS Limited
Independent Auditor's Report to the Members of BAEMS Limited
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which are procedures are capable of detecting irregularities, including fraud is detailed below.
Our approach was as follows:
We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity by discussions with key personnel and consideration of issues applicable to the entity’s specific sector.
We determined that the most significant laws and regulations which have a direct impact on the form and content of the financial statements of the entity are the Companies Act and UK Accounting Standards, specifically FRS102.
We determined that the most significant operational laws and regulations for the entity are employment law, motoring regulations, and regulations within the healthcare sector.
Based on the results or our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above.
We assessed the risk of material misstatement in respect of fraud through discussions with key personnel and consideration of the systems and processes in place. Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud.
We gained an understating of the entity’s policy and procedures through enquiry and the substantive testing carried out throughout the audit.
We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries throughout the period into our audit approach.
There were no key issues identified in relation to irregularities or fraud as a result of our audit work.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
BAEMS Limited
Independent Auditor's Report to the Members of BAEMS Limited
......................................
For and on behalf of
11 Laura Place
BA2 4BL
BAEMS Limited
Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 July 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
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|
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Other interest receivable and similar income |
|
|
|
|
Amounts written off investments |
( |
- |
|
|
Interest payable and similar charges |
( |
( |
|
|
(1,062,402) |
(470,789) |
||
|
Profit before tax |
|
|
|
|
Taxation |
( |
( |
|
|
Profit for the financial year |
|
|
|
|
Retained earnings brought forward |
3,607,172 |
3,907,604 |
|
|
Dividends paid |
( |
( |
|
|
Retained earnings carried forward |
3,527,263 |
3,607,172 |
BAEMS Limited
(Registration number: 10630643)
Balance Sheet as at 31 July 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investments |
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Current assets |
|||
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Debtors |
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Investments |
|
- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
|
|
|
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Capital and reserves |
|||
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Called up share capital |
1 |
1 |
|
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Retained earnings |
3,527,263 |
3,607,172 |
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|
Shareholders' funds |
3,527,264 |
3,607,173 |
Approved and authorised by the
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BAEMS Limited
Statement of Cash Flows for the Year Ended 31 July 2025
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Note |
2025 |
2024 |
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Cash flows from operating activities |
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Profit for the year |
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Adjustments to cash flows from non-cash items |
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Depreciation and amortisation |
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|
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Loss on disposal of tangible assets |
|
- |
|
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Finance income |
( |
( |
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Finance costs |
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Income tax expense |
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|
|
|
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||
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Working capital adjustments |
|||
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Decrease in trade debtors |
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(Decrease)/increase in trade creditors |
( |
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Cash generated from operations |
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Income taxes paid |
( |
- |
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Net cash flow from operating activities |
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|
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Cash flows from investing activities |
|||
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Interest received |
|
|
|
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Acquisitions of tangible assets |
( |
( |
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Proceeds from sale of tangible assets |
|
- |
|
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Acquisition of investments |
( |
- |
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Reclassification of Assets |
771,046 |
- |
|
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Loss on revaluation of current asset investments |
(340,416) |
- |
|
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Net cash flows from investing activities |
( |
( |
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Cash flows from financing activities |
|||
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Interest paid |
( |
( |
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Proceeds from bank borrowing draw downs |
|
( |
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Repayment of other borrowing |
( |
( |
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Payments to finance lease creditors |
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|
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Dividends paid |
( |
( |
|
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Net cash flows from financing activities |
|
( |
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Net (decrease)/increase in cash and cash equivalents |
( |
|
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Cash and cash equivalents at 1 August |
|
|
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Cash and cash equivalents at 31 July |
440,240 |
453,797 |
|
BAEMS Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
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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
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies and key accounting estimates 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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
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.
Going concern
The financial statements have been prepared on a going concern basis.
BAEMS Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
1) Tangible fixed assets are depreciated over their useful economic lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors.These factors include technological innovation and maintenance programmes.
2) Goodwill is amortised over its useful economic life. Goodwill is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.
3) Hire purchase interest is estimated using the straight line method which the directors consider is an appropriate estimation of the effective interest method.
4) The current asset investments are held at fair value which is a judgement based on a current professional valuation.
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 sales/value added tax, returns, rebates and discounts.
Revenue from the provision of ambulance and paramedic services is recognised when the services are rendered. This typically occurs when the service is completed, such as:
- On completion of patient transportation from the point of collection to the agreed destination; or
- Upon completion of the duty period for contracted event medical services.
Tax
The tax expense for the period comprises current and 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 income 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.
BAEMS Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
Tangible assets
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 of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Plant & Machinery |
15% Reducing Balance |
|
Fixtures & Fittings |
25% Reducing Balance |
|
Motor Vehicles |
12% to 25% Reducing Balance |
|
Office Equipment |
25% Reducing Balance |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
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 |
|
Goodwill |
5% Straight Line |
Investments
Other investments are initially recorded at cost and recorded at fair value at the year end.
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.
BAEMS Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors 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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Hire Purchase agreements
Plant, equipment and vehicles acquired under hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
BAEMS Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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
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Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Rendering of UK services |
|
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|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
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Depreciation expense |
|
|
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Amortisation expense |
|
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Loss on disposal of property, plant and equipment |
|
- |
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Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
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BAEMS Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
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Interest payable and similar expenses |
|
2025 |
2024 |
|
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Interest on bank overdrafts and borrowings |
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Interest on obligations under finance leases and hire purchase contracts |
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Interest expense on other finance liabilities |
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- |
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Other finance costs |
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Staff costs |
The aggregate payroll costs (including director's remuneration) were as follows:
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2025 |
2024 |
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Wages and salaries |
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Other short-term employee benefits |
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Pension costs, defined contribution scheme |
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Other employee expense |
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The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:
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2025 |
2024 |
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Production |
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Administration and support |
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Director's remuneration |
The director's remuneration for the year was as follows:
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2025 |
2024 |
|
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Remuneration |
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Auditors' remuneration |
|
2025 |
2024 |
|
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Audit of the financial statements |
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BAEMS Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
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UK corporation tax |
( |
|
|
Deferred taxation |
||
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Arising from origination and reversal of timing differences |
|
|
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Tax expense in the income statement |
|
|
The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2024 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Tax decrease from effect of capital allowances and depreciation |
( |
( |
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Tax increase from other short-term timing differences |
|
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Total tax charge |
|
|
BAEMS Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
|
Intangible assets |
|
Goodwill |
Total |
|
|
Cost or valuation |
||
|
At 1 August 2024 |
|
|
|
At 31 July 2025 |
|
|
|
Amortisation |
||
|
At 1 August 2024 |
|
|
|
Amortisation charge |
|
|
|
At 31 July 2025 |
|
|
|
Carrying amount |
||
|
At 31 July 2025 |
|
|
|
At 31 July 2024 |
|
|
|
Tangible assets |
|
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
||
|
Cost or valuation |
|||||
|
At 1 August 2024 |
|
|
|
|
|
|
Additions |
|
|
|
|
|
|
Disposals |
- |
- |
- |
( |
|
|
Transfers |
- |
- |
- |
( |
|
|
At 31 July 2025 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 August 2024 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
- |
( |
|
|
Transfers |
- |
- |
- |
( |
|
|
At 31 July 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 July 2025 |
|
|
|
|
|
|
At 31 July 2024 |
|
|
|
|
|
BAEMS Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
|
Total |
|||||
|
Cost or valuation |
|||||
|
At 1 August 2024 |
|
||||
|
Additions |
|
||||
|
Disposals |
( |
||||
|
Transfers |
( |
||||
|
At 31 July 2025 |
|
||||
|
Depreciation |
|||||
|
At 1 August 2024 |
|
||||
|
Charge for the year |
|
||||
|
Eliminated on disposal |
( |
||||
|
Transfers |
( |
||||
|
At 31 July 2025 |
|
||||
|
Carrying amount |
|||||
|
At 31 July 2025 |
|
||||
|
At 31 July 2024 |
|
||||
Assets previously included as fixed assets have been identified as being held for investment, and have therefore been transferred to current asset investments in the current year’s financial statements.
|
Investments |
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 August 2024 |
|
|
Provision |
|
|
Carrying amount |
|
|
At 31 July 2025 |
|
|
At 31 July 2024 |
|
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
BAEMS Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
Jacwyn House, No1 Kings Park Ave, St Philips, Bristol, BS2 0TZ |
|
|
|
|
|
Jacwyn House, No1 Kings Park Ave, St Philips, Bristol, BS2 0TZ |
|
|
|
|
|
Jacwyn House, No1 Kings Park Ave, St Philips, Bristol, BS2 0TZ |
|
|
|
|
|
Jacwyn House, No1 Kings Park Ave, St Philips, Bristol, BS2 0TZ |
|
|
|
|
Subsidiary undertakings |
|
BAEMS Events Ltd The principal activity of BAEMS Events Ltd is |
|
BAEMS Fleet Ltd The principal activity of BAEMS Fleet Ltd is |
|
BAEMS Medical Ltd The principal activity of BAEMS Medical Ltd is |
|
BAEMS Training Ltd The principal activity of BAEMS Training Ltd is |
|
Debtors |
|
Current |
Note |
2025 |
2024 |
|
Trade debtors |
|
|
|
|
Other debtors |
|
|
|
|
Prepayments |
|
|
|
|
Income tax asset |
|
- |
|
|
|
|
Details of non-current trade and other debtors
BAEMS Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
£327,485 (2024 -£Nil) of Other Debtors is classified as non current. Within Other Debtors is £327,485 owed by connected parties which is due in more than one year.
Included within Debtors due within one year is VAT recoverable of £1,019,278 (2024: £1,019,278), which is in relation to the recovery of VAT relating to a technicality on the treatment of vehicles.
|
Current asset investments |
|
2025 |
2024 |
|
|
Other investments |
|
- |
Current asset investments are executive vehicles held for their investment potential. The current year figure includes vehicles previously classified as tangible fixed assets.
The valuation is based on a current professional valuation and the director considers this is represents fair value at the year end
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
|
|
|
|
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Amounts due to related parties |
- |
|
|
|
Social security and other taxes |
|
|
|
|
Outstanding defined contribution pension costs |
|
|
|
|
Other payables |
|
|
|
|
Accruals |
|
|
|
|
Income tax liability |
- |
236,741 |
|
|
|
|
||
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
|
Other non-current financial liabilities |
|
|
|
|
|
|
BAEMS Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
1 |
|
1 |
|
Loans and borrowings |
Non-current loans and borrowings
|
2025 |
2024 |
|
|
Bank borrowings |
|
- |
|
Hire purchase contracts |
|
|
|
Finance lease liabilities |
|
|
|
Other borrowings |
|
|
|
|
|
|
Current loans and borrowings
|
2025 |
2024 |
|
|
Bank borrowings |
|
|
|
Hire purchase contracts |
|
|
|
Finance lease liabilities |
|
|
|
Other borrowings |
|
|
|
|
|
|
Bank borrowings
|
|
BAEMS Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
Other borrowings
The Hire purchase creditors are secured. The carrying amount at year end is £7,102,466 (2024 - £4,313,151). The net book value of the assets held under hire purchase agreements is £5,622,386 (2024 - £4,067,742)
The Finance lease creditors are secured. The carrying amount at year end is £91,815 (2024 - £502,077).
A loan from J&K Pillinger, included in Other Borrowings, is secured. The carrying amount at year end is £226,765 (2024 - £434,765)
A Factoring Account, included in Other Borrowings, is secured by a fixed and floating charge over the property and undertaking of the company. The carrying amount at year end is £980,814 (2024 - £1,353,044)
|
Obligations under leases |
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
|
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Related party transactions |
During the year BAEMS Limited loaned £60,900 to Tethys (Bristol) Ltd, a company under 100% control of Mr S Pillinger. As at the year end Tethys (Bristol) Ltd owed £904,142 (2024: £843,242). There are no repayment terms associated with this loan and no interest is charged on the outstanding amount.
During the year BAEMS Limited loaned £10,000 to Lons Group Ltd, a company under 100% control of Mr S Pillinger. As at the year end Lons Group Ltd owed £219,732 (2024: £209,732). There are no repayment terms associated with this loan and no interest is charged on the outstanding amount.
During the year Lons Group Ltd invoiced BAEMS Limited a total of £160,771 for Repairs and maintenance costs.
During the year Lons2024 Ltd, a company under 100% control of Mr S Pillinger invoiced BAEMS Limited a total of £457,622 for rental costs
BAEMS Limited
Notes to the Financial Statements for the Year Ended 31 July 2025
|
Transactions with the director |
|
2025 |
At 1 August 2024 |
Advances to director |
Repayments by director |
At 31 July 2025 |
|
Mr Shaun David Pillinger |
||||
|
Directors Loan Account |
( |
|
( |
|
|
2024 |
At 1 August 2023 |
Advances to director |
Repayments by director |
At 31 July 2024 |
|
Mr Shaun David Pillinger |
||||
|
Directors Loan Account |
( |
|
( |
( |