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Registration number: 11412587

Bax Healthcare Ltd
Unaudited Financial Statements
for the Year Ended 31 December 2025

Bax Healthcare Ltd

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 8

Bax Healthcare Ltd

(Registration number: 11412587)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 39,000 | 52,000
Tangible assets | 5 | 1,129 | 1,499
|  | 40,129 | 53,499
Current assets |  |  |
Debtors | 6 | 41,661 | 40,316
Cash at bank and in hand |  | 3,177 | 6,862
|  | 44,838 | 47,178
Creditors: Amounts falling due within one year | 7 | (22,884) | (22,128)
Net current assets |  | 21,954 | 25,050
Total assets less current liabilities |  | 62,083 | 78,549
Creditors: Amounts falling due after more than one year | 7 | (61,567) | (77,967)
Provisions for liabilities |  | (215) | (285)
Net assets |  | 301 | 297
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 201 | 197
Shareholders' funds |  | 301 | 297

Bax Healthcare Ltd

(Registration number: 11412587)
Balance Sheet as at 31 December 2025

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 June 2026

......................................... Mr P Baxter Director

Bax Healthcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

2 | 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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

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.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government Grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.
Any amounts outstanding at the year end will be included within other debtors.

Bax Healthcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Tax

The tax expense for the period comprises current tax.

The current 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.

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
Fixtures, fittings and equipment | 20% straight line basis

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 | Straight line basis over 10 years

Bax Healthcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

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.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

Bax Healthcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 January 2025 | 130,000 | 130,000
At 31 December 2025 | 130,000 | 130,000
Amortisation
At 1 January 2025 | 78,000 | 78,000
Amortisation charge | 13,000 | 13,000
At 31 December 2025 | 91,000 | 91,000
Carrying amount
At 31 December 2025 | 39,000 | 39,000
At 31 December 2024 | 52,000 | 52,000

5 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 January 2025 | 4,622 | 4,622
Additions | 417 | 417
At 31 December 2025 | 5,039 | 5,039
Depreciation
At 1 January 2025 | 3,123 | 3,123
Charge for the year | 787 | 787
At 31 December 2025 | 3,910 | 3,910
Carrying amount
At 31 December 2025 | 1,129 | 1,129
At 31 December 2024 | 1,499 | 1,499

Bax Healthcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

6 | Debtors

Current | 2025 £ | 2024 £
Other debtors | 41,661 | 40,316
| 41,661 | 40,316

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 11,563 | 12,001
Trade creditors |  | 840 | -
Taxation and social security |  | 510 | 1,027
Other creditors |  | 9,971 | 9,100
|  | 22,884 | 22,128

Current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 11,563 | 12,001

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | 61,567 | 77,967

Bax Healthcare Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

8 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 61,567 | 77,967

Current loans and borrowings

| 2025 £ | 2024 £
Other borrowings | 11,563 | 12,001

Included in other borrowings is a loan amounting to £22,384 (2024: £27,466) which is secured by guarantee of the UK Government under BBLS.