79 true false false false true true false false false false false false true false false No description of principal activity 2024-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 1,152,965 1,378,447 20 5 25 25 25 6,670 1,156,620 6,670 6,670 1,149,950 1,149,950 38,459 64,269 102,728 9 9 1 100 100 xbrli:pure xbrli:shares iso4217:GBP 07985416 2024-10-01 2025-09-30 07985416 2025-09-30 07985416 2024-09-30 07985416 2023-10-01 2024-09-30 07985416 2024-09-30 07985416 2023-09-30 07985416 bus:Consolidated 2024-10-01 2025-09-30 07985416 core:PatentsTrademarksLicencesConcessionsSimilar 2024-10-01 2025-09-30 07985416 bus:Consolidated core:PatentsTrademarksLicencesConcessionsSimilar 2024-10-01 2025-09-30 07985416 bus:Consolidated core:Subsidiary1 2024-10-01 2025-09-30 07985416 bus:Consolidated core:Subsidiary2 2024-10-01 2025-09-30 07985416 bus:Consolidated core:Subsidiary4 2024-10-01 2025-09-30 07985416 core:LandBuildings core:LongLeaseholdAssets 2024-10-01 2025-09-30 07985416 bus:Consolidated core:LandBuildings core:LongLeaseholdAssets 2024-10-01 2025-09-30 07985416 core:PlantMachinery 2024-10-01 2025-09-30 07985416 bus:Consolidated core:PlantMachinery 2024-10-01 2025-09-30 07985416 core:FurnitureFittingsToolsEquipment 2024-10-01 2025-09-30 07985416 bus:Consolidated core:FurnitureFittingsToolsEquipment 2024-10-01 2025-09-30 07985416 core:MotorVehicles 2024-10-01 2025-09-30 07985416 bus:Consolidated core:MotorVehicles 2024-10-01 2025-09-30 07985416 bus:RegisteredOffice 2024-10-01 2025-09-30 07985416 bus:OrdinaryShareClass1 2024-10-01 2025-09-30 07985416 bus:Consolidated bus:OrdinaryShareClass1 2024-10-01 2025-09-30 07985416 bus:LeadAgentIfApplicable 2024-10-01 2025-09-30 07985416 bus:Consolidated bus:LeadAgentIfApplicable 2024-10-01 2025-09-30 07985416 bus:Director1 2024-10-01 2025-09-30 07985416 bus:Consolidated bus:Director1 2024-10-01 2025-09-30 07985416 bus:Consolidated 2025-09-30 07985416 bus:Consolidated core:WithinOneYear 2025-09-30 07985416 bus:Consolidated core:WithinOneYear 2024-09-30 07985416 core:WithinOneYear 2025-09-30 07985416 core:WithinOneYear 2024-09-30 07985416 core:PatentsTrademarksLicencesConcessionsSimilar 2025-09-30 07985416 bus:Consolidated core:PatentsTrademarksLicencesConcessionsSimilar 2025-09-30 07985416 bus:Consolidated core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-30 07985416 bus:Consolidated core:LandBuildings core:LongLeaseholdAssets 2024-09-30 07985416 bus:Consolidated core:PlantMachinery 2024-09-30 07985416 bus:Consolidated core:FurnitureFittingsToolsEquipment 2024-09-30 07985416 bus:Consolidated core:MotorVehicles 2024-09-30 07985416 bus:Consolidated 2024-09-30 07985416 bus:Consolidated core:LandBuildings core:OwnedOrFreeholdAssets 2025-09-30 07985416 bus:Consolidated core:LandBuildings core:LongLeaseholdAssets 2025-09-30 07985416 bus:Consolidated core:PlantMachinery 2025-09-30 07985416 bus:Consolidated core:FurnitureFittingsToolsEquipment 2025-09-30 07985416 bus:Consolidated core:MotorVehicles 2025-09-30 07985416 core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-30 07985416 core:PlantMachinery 2024-09-30 07985416 core:LandBuildings core:OwnedOrFreeholdAssets 2025-09-30 07985416 core:PlantMachinery 2025-09-30 07985416 bus:Consolidated core:DeferredTaxation 2024-10-01 2025-09-30 07985416 core:DeferredTaxation 2024-10-01 2025-09-30 07985416 bus:Consolidated core:LandBuildings core:OwnedOrFreeholdAssets 2024-10-01 2025-09-30 07985416 core:LandBuildings core:OwnedOrFreeholdAssets 2024-10-01 2025-09-30 07985416 bus:Consolidated 2023-10-01 2024-09-30 07985416 bus:Consolidated 2024-09-30 07985416 bus:Consolidated core:UKTax 2024-10-01 2025-09-30 07985416 bus:Consolidated core:UKTax 2023-10-01 2024-09-30 07985416 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2024-09-30 07985416 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2023-09-30 07985416 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2025-09-30 07985416 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2024-09-30 07985416 core:RetainedEarningsAccumulatedLosses 2024-09-30 07985416 core:RetainedEarningsAccumulatedLosses 2023-09-30 07985416 core:RetainedEarningsAccumulatedLosses 2025-09-30 07985416 core:RetainedEarningsAccumulatedLosses 2024-09-30 07985416 bus:Consolidated core:ShareCapital 2025-09-30 07985416 bus:Consolidated core:ShareCapital 2024-09-30 07985416 core:ShareCapital 2025-09-30 07985416 core:ShareCapital 2024-09-30 07985416 bus:Consolidated core:CostValuation core:Non-currentFinancialInstruments 2024-09-30 07985416 core:AdditionsToInvestments bus:Consolidated core:Non-currentFinancialInstruments 2025-09-30 07985416 bus:Consolidated core:CostValuation core:Non-currentFinancialInstruments 2025-09-30 07985416 bus:Consolidated core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2024-09-30 07985416 bus:Consolidated core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal core:Non-currentFinancialInstruments 2025-09-30 07985416 bus:Consolidated core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2025-09-30 07985416 bus:Consolidated core:Non-currentFinancialInstruments 2025-09-30 07985416 bus:Consolidated core:Non-currentFinancialInstruments 2024-09-30 07985416 core:CostValuation core:Non-currentFinancialInstruments 2024-09-30 07985416 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2025-09-30 07985416 core:CostValuation core:Non-currentFinancialInstruments 2025-09-30 07985416 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2024-09-30 07985416 core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal core:Non-currentFinancialInstruments 2025-09-30 07985416 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2025-09-30 07985416 core:Non-currentFinancialInstruments 2025-09-30 07985416 core:Non-currentFinancialInstruments 2024-09-30 07985416 core:AcceleratedTaxDepreciationDeferredTax bus:Consolidated 2025-09-30 07985416 core:AcceleratedTaxDepreciationDeferredTax bus:Consolidated 2024-09-30 07985416 core:AcceleratedTaxDepreciationDeferredTax 2024-09-30 07985416 core:RetainedEarningsAccumulatedLosses 2024-10-01 2025-09-30 07985416 core:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 07985416 bus:Consolidated core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-30 07985416 bus:Consolidated core:PlantMachinery 2024-09-30 07985416 bus:Consolidated core:FurnitureFittingsToolsEquipment 2024-09-30 07985416 bus:Consolidated core:MotorVehicles 2024-09-30 07985416 core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-30 07985416 core:PlantMachinery 2024-09-30 07985416 bus:Consolidated core:DeferredTaxation 2024-09-30 07985416 bus:Consolidated core:DeferredTaxation 2025-09-30 07985416 core:DeferredTaxation 2024-09-30 07985416 bus:Consolidated countries:UnitedKingdom 2024-10-01 2025-09-30 07985416 bus:Consolidated countries:UnitedKingdom 2023-10-01 2024-09-30 07985416 bus:Consolidated countries:RestWorldOutsideUK 2024-10-01 2025-09-30 07985416 bus:Consolidated countries:RestWorldOutsideUK 2023-10-01 2024-09-30 07985416 bus:Consolidated bus:LeadAgentIfApplicable 2023-10-01 2024-09-30 07985416 bus:Consolidated bus:Director1 2024-09-30 07985416 bus:Consolidated bus:Director1 2025-09-30 07985416 bus:Consolidated bus:Director1 2023-09-30 07985416 bus:Consolidated bus:Director1 2024-09-30 07985416 bus:Consolidated bus:Director1 2023-10-01 2024-09-30 07985416 bus:SmallEntities 2024-10-01 2025-09-30 07985416 bus:Audited 2024-10-01 2025-09-30 07985416 bus:PrivateLimitedCompanyLtd 2024-10-01 2025-09-30 07985416 bus:FullAccounts 2024-10-01 2025-09-30 07985416 bus:OrdinaryShareClass1 2025-09-30 07985416 bus:Consolidated bus:OrdinaryShareClass1 2025-09-30 07985416 bus:OrdinaryShareClass1 2024-09-30 07985416 bus:Consolidated bus:OrdinaryShareClass1 2024-09-30
COMPANY REGISTRATION NUMBER: 07985416
R Bagg Limited
Financial Statements
30 September 2025
R Bagg Limited
Financial Statements
Year ended 30 September 2025
Contents
Page
Officers and professional advisers
1
Strategic report
2
Director's report
4
Independent auditor's report to the members
6
Consolidated statement of income and retained earnings
10
Company statement of income and retained earnings
11
Consolidated statement of financial position
12
Company statement of financial position
13
Consolidated statement of cash flows
14
Notes to the financial statements
15
R Bagg Limited
Officers and Professional Advisers
Director
Mr R Bagg
Registered office
Lyndhurst
1 Cranmer Street
Long Eaton
Nottingham
NG10 1NJ
Auditor
Xeinadin Audit Limited
Chartered Accountants & statutory auditor
8th Floor
Becket House
36 Old Jewry
London
EC2R 8DD
R Bagg Limited
Strategic Report
Year ended 30 September 2025
Fair review of the business
R Bagg Limited is a holding company concentrating on long term growth. The company continues to assess its current positions and new potential opportunities in order to create long-term wealth. ECU Testing Limited, a subsidiary company, is the market leading Automotive ECU (Electronic Control Unit) remanufacturer, offering first-to-market ECU remanufacturing solutions for the automotive aftermarket. ECU Testing Limited tests and rebuilds most common failing electronic control units (ECUs) for most vehicles on the road, including Engine ECU's, ABS modules, instrument clusters, transmission ECU's and electric power steering.
Principal risks and uncertainties
It is clear the economies in which the company has interests are in a state of change, with increasing inflation becoming ever more apparent. Economic uncertainty and geo-political issues are considered the principal risk to the company. The director feels the company is appropriately diverse in its investments and with substantial cash holdings will be able to manoeuvre, mitigate risk and take advantage of future opportunities.
Going concern
The accounts have been prepared on a going concern basis. Having carried out a detailed review of the company's position at the date of approval of the accounts and with regard to the challenges presented by the current economic and health climate, having considered the potential impacts on the group the director is satisfied that the company has sufficient cash reserves to meet its liabilities as they fall due. The director considers the company has adequate resources to enable it to continue its operational existence for the foreseeable future. The company continues to adopt the going concern basis of accounting in preparing the financial statements.
Key performance indicators
The following are Key Performance Indicators (KPIs) used by the director to measure the performance of the group.
2025 2024
Turnover 9,142,426 8,362,032
Gross profit (%) 64 66
Earnings before, interest, tax, depreciation and amortisation 1,566,583 1,879,470
This report was approved by the board of directors on 7 May 2026 and signed on behalf of the board by:
Mr R Bagg
Director
Registered office:
Lyndhurst
1 Cranmer Street
Long Eaton
Nottingham
NG10 1NJ
R Bagg Limited
Director's Report
Year ended 30 September 2025
The director presents his report and the financial statements of the group for the year ended 30 September 2025 .
Director
The director who served the company during the year was as follows:
Mr R Bagg
Dividends
The director does not recommend the payment of a dividend.
Director's responsibilities statement
The director is responsible for preparing the strategic report, director's 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 group and the company and the profit or loss of the group for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - 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 them 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. Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the group and the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the group and the company's auditor is aware of that information.
This report was approved by the board of directors on 7 May 2026 and signed on behalf of the board by:
Mr R Bagg
Director
Registered office:
Lyndhurst
1 Cranmer Street
Long Eaton
Nottingham
NG10 1NJ
R Bagg Limited
Independent Auditor's Report to the Members of R Bagg Limited
Year ended 30 September 2025
Opinion
We have audited the financial statements of R Bagg Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2025 which comprise the consolidated statement of income and retained earnings, company statement of income and retained earnings, consolidated statement of financial position, company statement of financial position, consolidated statement of cash flows and the related notes, 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 FRS 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 group's and of the parent company's affairs as at 30 September 2025 and of the group's profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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's responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. 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.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the 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 the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or - the parent company 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 director's responsibilities statement, 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 group's and the parent 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 group or the parent company or to cease operations, or has no realistic alternative but to do so.
Auditor's 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. 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 our procedures are capable of detecting irregularities, including fraud is detailed below: - We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly. - Using our knowledge of the group, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment. The key procedures we undertook to detect irregularities including fraud during the audit included: - Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual. - Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied. - Reviewing significant and material expenses to determine they have been properly incurred for purposes of the group's trade and are materially complete. - Performing a physical verification of key assets. - Confirming ownership of material investments and intangible assets. - Obtaining third-party confirmation of material bank and debtor balances. - Documenting and verifying all significant related party balances and transactions. - Reviewing documentation such as company board minutes, correspondence with solicitors, for discussions of irregularities including fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the director and senior management. A further description of our responsibilities for the audit of the financial statements is located 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.
Russell Eley FCCA
(Senior Statutory Auditor)
For and on behalf of
Xeinadin Audit Limited
Chartered Accountants & statutory auditor
8th Floor
Becket House
36 Old Jewry
London
EC2R 8DD
7 May 2026
R Bagg Limited
Consolidated Statement of Income and Retained Earnings
Year ended 30 September 2025
2025
2024
Note
£
£
Turnover
4
9,142,426
8,362,032
Cost of sales
3,279,313
2,818,541
------------
------------
Gross profit
5,863,113
5,543,491
Distribution costs
1,578,899
1,497,690
Administrative expenses
2,809,334
2,272,499
------------
------------
Operating profit
5
1,474,880
1,773,302
Income from other fixed asset investments
9
12,070
142,811
Other interest receivable and similar income
56,076
87,637
Amounts written off investments
135,998
222,963
------------
------------
Profit before taxation
1,407,028
1,780,787
Tax on profit
10
254,063
402,340
------------
------------
Profit for the financial year and total comprehensive income
1,152,965
1,378,447
------------
------------
Retained earnings at the start of the year
6,976,612
5,598,165
------------
------------
Retained earnings at the end of the year
8,129,577
6,976,612
------------
------------
All the activities of the group are from continuing operations.
R Bagg Limited
Company Statement of Income and Retained Earnings
Year ended 30 September 2025
2025
2024
Note
£
£
Profit for the financial year and total comprehensive income
2,422,322
( 97,640)
Retained earnings at the start of the year
2,534,972
2,632,612
------------
------------
Retained earnings at the end of the year
4,957,294
2,534,972
------------
------------
R Bagg Limited
Consolidated Statement of Financial Position
30 September 2025
2025
2024
Note
£
£
Fixed assets
Intangible assets
11
1,149,950
1,149,950
Tangible assets
12
2,107,057
1,430,889
Investments
13
3,233,841
730,499
------------
------------
6,490,848
3,311,338
Current assets
Debtors
14
582,037
572,620
Cash at bank and in hand
1,853,282
4,007,924
------------
------------
2,435,319
4,580,544
Creditors: Amounts falling due within one year
15
693,762
876,711
------------
------------
Net current assets
1,741,557
3,703,833
------------
------------
Total assets less current liabilities
8,232,405
7,015,171
Provisions
16
102,728
38,459
------------
------------
Net assets
8,129,677
6,976,712
------------
------------
Capital and reserves
Called up share capital
19
100
100
Profit and loss account
20
8,129,577
6,976,612
------------
------------
Shareholders funds
8,129,677
6,976,712
------------
------------
These financial statements were approved by the board of directors and authorised for issue on 7 May 2026 , and are signed on behalf of the board by:
Mr R Bagg
Director
Company registration number: 07985416
R Bagg Limited
Company Statement of Financial Position
30 September 2025
2025
2024
Note
£
£
Fixed assets
Intangible assets
11
1,149,950
1,149,950
Tangible assets
12
1,590,197
1,202,102
Investments
13
3,233,942
730,600
------------
------------
5,974,089
3,082,652
Current assets
Debtors
14
255,609
67,360
Cash at bank and in hand
437,862
1,048,038
---------
------------
693,471
1,115,398
Creditors: Amounts falling due within one year
15
1,710,166
1,662,969
------------
------------
Net current liabilities
1,016,695
547,571
------------
------------
Total assets less current liabilities
4,957,394
2,535,081
Provisions
16
–
9
------------
------------
Net assets
4,957,394
2,535,072
------------
------------
Capital and reserves
Called up share capital
19
100
100
Profit and loss account
20
4,957,294
2,534,972
------------
------------
Shareholders funds
4,957,394
2,535,072
------------
------------
The profit for the financial year of the parent company was £ 2,422,322 (2024: £ 97,640 loss).
These financial statements were approved by the board of directors and authorised for issue on 7 May 2026 , and are signed on behalf of the board by:
Mr R Bagg
Director
Company registration number: 07985416
R Bagg Limited
Consolidated Statement of Cash Flows
Year ended 30 September 2025
2025
2024
£
£
Cash flows from operating activities
Profit for the financial year
1,152,965
1,378,447
Adjustments for:
Depreciation of tangible assets
90,891
105,168
Amounts written off investments
135,998
222,963
Income from other fixed asset investments
( 12,070)
( 142,811)
Other interest receivable and similar income
(56,076)
(87,638)
Loss on disposal of tangible assets
812
–
Tax on profit/(loss)
254,063
402,340
Accrued (income)/expenses
( 412)
24,927
Changes in:
Trade and other debtors
( 9,417)
( 370,748)
Trade and other creditors
130,208
148,242
------------
------------
Cash generated from operations
1,686,962
1,680,890
Interest received
56,076
87,637
Tax paid
( 502,539)
( 303,051)
------------
------------
Net cash from operating activities
1,240,499
1,465,476
------------
------------
Cash flows from investing activities
Purchase of tangible assets
( 767,871)
( 37,202)
Purchases of other investments
(2,639,340)
–
Proceeds from sale of other investments
–
714,607
Dividends received
12,070
–
------------
------------
Net cash (used in)/from investing activities
( 3,395,141)
677,405
------------
------------
Cash flows from financing activities
Repayments of borrowings
–
( 1,028,739)
------------
------------
Net cash used in financing activities
–
( 1,028,739)
------------
------------
Net (decrease)/increase in cash and cash equivalents
( 2,154,642)
1,114,142
Cash and cash equivalents at beginning of year
4,007,924
2,893,782
------------
------------
Cash and cash equivalents at end of year
1,853,282
4,007,924
------------
------------
R Bagg Limited
Notes to the Financial Statements
Year ended 30 September 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(i) Basis of preparation
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.
(ii) Disclosure exemptions
The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:
(a) Disclosures in respect of each class of share capital have not been presented.
(b) No cash flow statement has been presented for the company.
(c) Disclosures in respect of financial instruments have not been presented.
(d) No disclosure has been given for the aggregate remuneration of key management personnel.
(iii) Consolidation
The financial statements consolidate the financial statements of R Bagg Limited and all of its subsidiary undertakings.
The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.
The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.
(iv) Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Investments in associates are recorded at their initial cost and adjusted for impairment in their value. The associates of the company undertake a significant amount of research and development within the medical sector. The successful outcome of this research and development is by its nature uncertain and the investment value cannot be accurately determined. Due to this uncertainty the company's share of each company's equity is reflected as the current value of investments with the resulting difference between that and the initial accounted for as impaired.
(v) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue is recognised when payment of a transaction involving the rendering of services has been received.
(vi) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
(vii) Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
(viii) Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
(ix) Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents, trademarks and licences
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(x) Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
(xi) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
(xii) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements
-
5% straight line
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
(xiii) Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
(xiv) Investments in associates
Investments in associates are accounted for in accordance with the cost model and are recorded at cost less any accumulated impairment losses.
(xv) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
(xvi) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
(xvii) Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
(xviii) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Turnover
Turnover arises from:
2025
2024
£
£
Rendering of services
9,142,426
8,362,032
------------
------------
The turnover is attributable to the one principal activity of the group. An analysis of turnover by the geographical markets that substantially differ from each other is given below:
2025
2024
£
£
United Kingdom
8,332,050
7,630,544
Overseas
810,376
731,488
------------
------------
9,142,426
8,362,032
------------
------------
5. Operating profit
Operating profit or loss is stated after charging/crediting:
2025
2024
£
£
Depreciation of tangible assets
90,891
105,168
Loss on disposal of tangible assets
812
–
Impairment of trade debtors
–
(2,274)
Research and development expenditure written off
615,797
455,316
Foreign exchange differences
( 14,607)
42,916
---------
---------
6. Auditor's remuneration
2025
2024
£
£
Fees payable for the audit of the financial statements
14,000
13,500
--------
--------
7. Staff costs
The average number of persons employed by the group during the year, including the director, amounted to:
2025
2024
No.
No.
Administrative staff
67
60
Research and development staff
12
9
----
----
79
69
----
----
The aggregate payroll costs incurred during the year, relating to the above, were:
2025
2024
£
£
Wages and salaries
1,991,366
1,797,281
Social security costs
204,521
169,047
Other pension costs
85,902
79,991
------------
------------
2,281,789
2,046,319
------------
------------
The average number of employees employed by subsidiary undertakings are only those detailed above.
8. Director's remuneration
The director's aggregate remuneration in respect of qualifying services was:
2025
2024
£
£
Remuneration
80,000
80,000
Company contributions to defined contribution pension plans
39,996
39,996
---------
---------
119,996
119,996
---------
---------
The number of directors who accrued benefits under company pension plans was as follows:
2025
2024
No.
No.
Defined contribution plans
1
1
----
----
9. Income from other fixed asset investments
2025
2024
£
£
Dividends from other fixed asset investments
12,070
–
(Gain)/loss on disposal of other fixed asset investments
–
142,811
--------
---------
12,070
142,811
--------
---------
10. Tax on profit/(loss)
Major components of tax expense
2025
2024
£
£
Current tax:
UK current tax expense
189,794
440,976
Adjustments in respect of prior periods
–
( 5,887)
---------
---------
Total current tax
189,794
435,089
---------
---------
Deferred tax:
Origination and reversal of timing differences
64,269
( 32,749)
---------
---------
Tax on profit/(loss)
254,063
402,340
---------
---------
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is lower than (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).
2025
2024
£
£
Profit on ordinary activities before taxation
1,407,028
1,780,787
------------
------------
Profit on ordinary activities by rate of tax
385,756
445,198
Adjustment to tax charge in respect of prior periods
( 3,947)
(6,465)
Effect of expenses not deductible for tax purposes
4,650
61,500
Research and development tax credits
(132,396)
(97,893)
------------
------------
Tax on profit/(loss)
254,063
402,340
------------
------------
11. Intangible assets
Group and company
Patents, trademarks and licences
Digital software assets
Total
£
£
£
Cost
At 1 October 2024 and 30 September 2025
6,670
1,149,950
1,156,620
-------
------------
------------
Amortisation
At 1 October 2024 and 30 September 2025
6,670
–
6,670
-------
------------
------------
Carrying amount
At 1 October 2024 and 30 September 2025
–
1,149,950
1,149,950
-------
------------
------------
At 30 September 2024
–
1,149,950
1,149,950
-------
------------
------------
12. Tangible assets
Group
Freehold property
Long leasehold property
Plant and machinery
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 Oct 2024
1,168,823
355,170
360,825
802,547
168,595
2,855,960
Additions
396,528
257,958
13,690
79,805
19,890
767,871
Disposals
–
–
–
( 1,082)
–
( 1,082)
------------
---------
---------
---------
---------
------------
At 30 Sep 2025
1,565,351
613,128
374,515
881,270
188,485
3,622,749
------------
---------
---------
---------
---------
------------
Depreciation
At 1 Oct 2024
–
355,170
294,738
681,939
93,224
1,425,071
Charge for the year
–
6,874
18,747
43,527
21,743
90,891
Disposals
–
–
–
( 270)
–
( 270)
------------
---------
---------
---------
---------
------------
At 30 Sep 2025
–
362,044
313,485
725,196
114,967
1,515,692
------------
---------
---------
---------
---------
------------
Carrying amount
At 30 Sep 2025
1,565,351
251,084
61,030
156,074
73,518
2,107,057
------------
---------
---------
---------
---------
------------
At 30 Sep 2024
1,168,823
–
66,087
120,608
75,371
1,430,889
------------
---------
---------
---------
---------
------------
Company
Freehold property
Plant and machinery
Total
£
£
£
Cost
At 1 October 2024
1,168,823
60,292
1,229,115
Additions
396,528
–
396,528
------------
--------
------------
At 30 September 2025
1,565,351
60,292
1,625,643
------------
--------
------------
Depreciation
At 1 October 2024
–
27,013
27,013
Charge for the year
–
8,433
8,433
------------
--------
------------
At 30 September 2025
–
35,446
35,446
------------
--------
------------
Carrying amount
At 30 September 2025
1,565,351
24,846
1,590,197
------------
--------
------------
At 30 September 2024
1,168,823
33,279
1,202,102
------------
--------
------------
Land and buildings includes the property owned by the company and leased to its subsidiary companies.
13. Investments
Group
Interests in associates
Loans to participating interests
Other investments other than loans
Total
£
£
£
£
Share of net assets/cost
At 1 October 2024
2,200,374
405,795
–
2,606,169
Additions
–
–
2,639,340
2,639,340
------------
---------
------------
------------
At 30 September 2025
2,200,374
405,795
2,639,340
5,245,509
------------
---------
------------
------------
Impairment
At 1 October 2024
1,875,670
–
–
1,875,670
Revaluations
135,998
–
–
135,998
------------
---------
------------
------------
At 30 September 2025
2,011,668
–
–
2,011,668
------------
---------
------------
------------
Carrying amount
At 30 September 2025
188,706
405,795
2,639,340
3,233,841
------------
---------
------------
------------
At 30 September 2024
324,704
405,795
–
730,499
------------
---------
------------
------------
Company
Shares in group undertakings
Shares in participating interests
Loans to participating interests
Other investments other than loans
Total
£
£
£
£
£
Cost
At 1 October 2024
101
2,200,374
405,795
–
2,606,270
Additions
–
–
–
2,639,340
2,639,340
----
------------
---------
------------
------------
At 30 September 2025
101
2,200,374
405,795
2,639,340
5,245,610
----
------------
---------
------------
------------
Impairment
At 1 October 2024
–
1,875,670
–
–
1,875,670
Revaluations
–
135,998
–
–
135,998
----
------------
---------
------------
------------
At 30 September 2025
–
2,011,668
–
–
2,011,668
----
------------
---------
------------
------------
Carrying amount
At 30 September 2025
101
188,706
405,795
2,639,340
3,233,942
----
------------
---------
------------
------------
At 30 September 2024
101
324,704
405,795
–
730,600
----
------------
---------
------------
------------
The company advanced $500,000 to Ichor Life Sciences, Inc. The loan agreement does not provide for fixed date or schedule of repayment. The loan is reflected at its sterling equivalent value above.
Investments held at valuation
Other investments relate to an investment portfolio comprising a range of securities, including stocks and shares.
Subsidiaries, associates and other investments
Details of the investments in which the group and the parent company have an interest of 20% or more are as follows:
Registered office
Class of share
Percentage of shares held
Subsidiary undertakings
ECU Testing Limited
1 Cranmer Street
Ordinary
100
Long Eaton
Nottingham
NG10 1NJ
Biosenex Limited - Dormant
1 Cranmer Street
A Ordinary
80
Long Eaton
Nottingham
NG10 1NJ
DNAFuel Limited - Dormant
Delves Road
Ordinary
100
Heanor
DE75 7SJ
Other significant holdings
Ichor Therapeutics, Inc.
2603 US Route 11
Ordinary
20.8
LaFayette
New York
13084
USA
Bioma Ltd
Heanor Gate Industrial Estate
Ordinary
38
Delves Road
Heanor
DE75 7SJ
14. Debtors
Group
Company
2025
2024
2025
2024
£
£
£
£
Trade debtors
208,146
144,634
–
–
Amounts owed by group undertakings
–
–
–
13
Amounts owed by undertakings in which the company has a participating interest
9,606
9,606
4,686
4,686
Prepayments and accrued income
119,256
198,338
–
1,183
Corporation tax repayable
759
–
–
–
Director's loan account
229,668
219,029
219,371
33,524
Other debtors
14,602
1,013
31,552
27,954
---------
---------
---------
--------
582,037
572,620
255,609
67,360
---------
---------
---------
--------
The debtors above include the following amounts falling due after more than one year:
Group
Company
2025
2024
2025
2024
£
£
£
£
VAT on Capital Goods Scheme
15,465
23,197
15,465
23,197
--------
--------
--------
--------
15. Creditors: Amounts falling due within one year
Group
Company
2025
2024
2025
2024
£
£
£
£
Trade creditors
267,000
212,040
–
–
Amounts owed to group undertakings
–
–
1,685,980
1,594,297
Accruals and deferred income
49,365
49,777
10,000
8,800
Corporation tax
–
312,745
14,186
59,872
Social security and other taxes
349,660
281,883
–
–
Other creditors
27,737
20,266
–
–
---------
---------
------------
------------
693,762
876,711
1,710,166
1,662,969
---------
---------
------------
------------
16. Provisions
Group
Deferred tax (note 17)
£
At 1 October 2024
38,459
Additions
64,269
---------
At 30 September 2025
102,728
---------
Company
Deferred tax (note 17)
£
At 1 October 2024
9
Additions
( 9)
----
At 30 September 2025
–
----
17. Deferred tax
The deferred tax included in the statement of financial position is as follows:
Group
Company
2025
2024
2025
2024
£
£
£
£
Included in provisions (note 16)
102,728
38,459
–
9
---------
--------
----
----
The deferred tax account consists of the tax effect of timing differences in respect of:
Group
Company
2025
2024
2025
2024
£
£
£
£
Accelerated capital allowances
102,728
38,459
–
9
---------
--------
----
----
18. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 85,902 (2024: £ 79,991 ).
19. Called up share capital
Issued, called up and fully paid
2025
2024
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
The ordinary shares have the right to attend and vote at meetings. The right to participate in distributions. The right to receive dividends in different proportions as voted by the majority.
20. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
21. Analysis of changes in net debt
At 1 Oct 2024
Cash flows
At 30 Sep 2025
£
£
£
Cash at bank and in hand
4,007,924
(2,154,642)
1,853,282
------------
------------
------------
22. Capital commitments
Capital expenditure contracted for but not provided for in the financial statements is as follows:
Group
Company
2025
2024
2025
2024
£
£
£
£
Tangible assets
–
225,000
–
–
----
---------
----
----
23. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company and its subsidiary undertakings:
2025
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr R Bagg
219,029
196,144
( 185,505)
229,668
---------
---------
---------
---------
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr R Bagg
( 1,028,739)
2,415,574
( 1,167,806)
219,029
------------
------------
------------
---------
There are no fixed terms of repayment and no interest is levied on balances.
R Bagg Limited
Notes to the Financial Statements (continued)
Year ended 30 September 2025
24. Related party transactions
Company
The company owns a residential property which the director occupies and no rent is charged by the company.