BACARD HOLDINGS LIMITED


Directors	DALLIMORE, Geoffrey
	MCINTYRE, Neil Stuart
	SCOWCROFT, Brian Kenneth


Company Secretary	MCINTYRE, Neil Stuart


Registered Address	The Marketing Suite Baron Way
	Kingmoor Business Park
	Carlisle
	CA6 4SJ


Registered Number	08455039 (England and Wales)

Statement of Financial Position
31 August 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		194,984		222,810
Investments	4		35,585,386		39,662,385
			35,780,370		39,885,195
Current assets
Debtors	5	21,385,005		18,088,187
Cash at bank and on hand		557,132		367,078
		21,942,137		18,455,265
Creditors amounts falling due within one year	6	(19,652,368)		(24,109,800)
Net current assets (liabilities)			2,289,769		(5,654,535)
Total assets less current liabilities			38,070,139		34,230,660
Creditors amounts falling due after one year	7		(2,914,585)		(3,723,677)
Net assets			35,155,554		30,506,983
Capital and reserves
Called up share capital			1,000		1,000
Share premium			3,753,334		3,753,334
Revaluation reserve			21,545,999		25,622,998
Profit and loss account			9,855,221		1,129,651
Shareholders' funds			35,155,554		30,506,983

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 1 May 2026, and are signed on its behalf by:

MCINTYRE, Neil Stuart
Director
Registered Company No. 08455039

BACARD HOLDINGS LIMITED

Notes to the Financial Statements
for the year ended 31 August 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Dividend income
	Dividend income is recognised when the right to receive payment is established.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Finance costs
	Finance costs charged to the profit or loss include interest expense calculated using the effective interest method, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows: Plant and machinery - 10% - 20% straight line Motor vehicles - 20% straight line Office equipment - 33% straight line

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:

Plant and machinery - 10% - 20% straight line
Motor vehicles - 20% straight line
Office equipment - 33% straight line

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	22		24

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 September 24	232,750	13,000	5,853	251,603
At 31 August 25	232,750	13,000	5,853	251,603
Depreciation and impairment
At 01 September 24	23,275	2,600	2,918	28,793
Charge for year	23,275	2,600	1,951	27,826
At 31 August 25	46,550	5,200	4,869	56,619
Net book value
At 31 August 25	186,200	7,800	984	194,984
At 31 August 24	209,475	10,400	2,935	222,810

4.	Fixed asset investments
	The historical cost of the other fixed asset investments as at 31 August 2025 was £14,039,384 (2024 £14,039,384).

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 September 24	39,662,385	39,662,385
Revaluations	(4,076,999)	(4,076,999)
At 31 August 25	35,585,386	35,585,386
Net book value
At 31 August 25	35,585,386	35,585,386
At 31 August 24	39,662,385	39,662,385

	Notes
	¹Investments in group undertakings and participating interests

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	1,753	7,620
Amounts owed by group undertakings	7,734,878	-
Other debtors	13,648,374	18,080,567
Total	21,385,005	18,088,187

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	144,030	146,834
Amounts owed to related parties	-	1,544,365
Taxation and social security	234,499	19,124
Other creditors	19,266,695	22,392,863
Accrued liabilities and deferred income	7,144	6,614
Total	19,652,368	24,109,800

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Other creditors	2,914,585	3,723,677
Total	2,914,585	3,723,677

8.	Pension commitments
	The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £27,481 (2024 - £31,210). There were no contributions payable to the fund in either year at the balance sheet date.

9.	Directors advances, credits and guarantees
	At the balance sheet date the company owed a director £11,795,229 (2024 - £17,408,851). The loan is unsecured, interest free and repayable on demand. At the balance sheet date a director owed the company £68,386 (2024 due to the director - £30,000). The loan is unsecured and repayable on demand. Interest is charged on the loan at HMRC's beneficial loan rate.