REGISTERED NUMBER: 05965968 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2025

for

Baobao Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Tajinderpal S Obhrai

Deepinder S Obhrai

REGISTERED OFFICE:

173 Cleveland Street

London

W1T 6QR

REGISTERED NUMBER:

05965968 (England and Wales)

ACCOUNTANTS:

Shah Dodhia & Co

173 Cleveland Street

London

W1T 6QR

FIXED ASSETS

Investments

5

4,501,399

3,404,505

CURRENT ASSETS

Debtors

6

422,250

2,969,146

Cash at bank

17,943

370,295

440,193

3,339,441

CREDITORS

Amounts falling due within one year

7

3,020,018

5,971,291

NET CURRENT LIABILITIES

(2,579,825

)

(2,631,850

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,921,574

772,655

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

8

2,144,071

1,047,177

Equity contribution reserve

265,793

265,793

Retained earnings

(488,291

)

(540,316

)

1,921,574

772,655

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 28 May 2026 and were signed on its behalf by:

Tajinderpal S Obhrai - Director

1.	STATUTORY INFORMATION

Baobao Ltd 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.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Investments in subsidiaries

Investments in subsidiary company by the parent company are stated at the net asset values of the subsidiary companies, which is considered to be their fair values, unless the net asset value is negative, in which case the investment's carrying value is considered to be nil. Differences between the net asset value and historical cost are recognised in other comprehensive income (OCI), with net revaluation gains recognised in OCI and net revaluation losses in profit and loss to the extent that these are not reversals of previous revaluation gain.

Financial instruments

Borrowings classified as basic financial instruments

Borrowings are recognised initially at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, borrowings are stated at amortised cost using the effective interest method, less any impairment losses.

Going concern

The directors have no reason to believe that a material uncertainty exists that may cast their significant doubt about the ability of the company to continue as a going concern. On the basis of assessment of the company's financial position, the directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST OR VALUATION

At 1 September 2024

3,404,505

Revaluations

1,096,894

At 31 August 2025

4,501,399

NET BOOK VALUE

At 31 August 2025

4,501,399

At 31 August 2024

3,404,505

Cost or valuation at 31 August 2025 is represented by:

Shares in

group

undertakings

£

Valuation in 2025

1,096,894

Cost

3,404,505

4,501,399

The company owns 100% of the issued share capital of Cool Inn Ltd, a company incorporated in England.

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Other debtors

-

9,677

Amounts falling due after more than one year:

Amounts owed by group undertakings

422,250

2,959,469

Aggregate amounts

422,250

2,969,146

Amounts owed by group undertakings bear interest at 7.64% per annum (2024: 8.79% per annum).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

500,002

2,203,077

Amounts owed to group undertakings

1,664,992

2,948,855

Amounts owed to related undertakings

827,416

777,512

Taxation and social security

17,342

-

Other creditors

10,266

41,847

3,020,018

5,971,291

The bank loan is secured by first legal charges over freehold properties owned by certain group undertakings and unlimited cross guarantees from certain group undertakings. The company has renewed the loan with the same lender until December 2025 and the loan was repaid in full in February 2026.

The company has received an interest free loans of £1,664,992 (2024: £1,664,992) from it's immediate parent company. The loan is unsecured and available till August 2025. The loan balance is discounted at 4.07% per annum to its Net Present Value. The total discounted loan balance outstanding at the Balance sheet date was £1,664,992 (2024: £1,658,611). The loan has since been renewed for an additional five year interest free term, effective September 2025.

8.

RESERVES

Revaluation

reserve

£

At 1 September 2024

1,047,177

No description

1,096,894

At 31 August 2025

2,144,071

9.	RELATED PARTY DISCLOSURES

As the company is a wholly owned subsidiary of Sycamore Limited, a company registered in Isle of Man, the company has taken advantage of the exemption contained in FRS 102.33 and has therefore not disclosed transactions on balances with entities which form part of the group headed by Sycamore Ltd.

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Sycamore Ltd, a company incorporated in Isle of Man.