The directors present the strategic report for the year ended 30 September 2025.

Baldwin Boxall Communications Limited is a UK manufacturer of voice alarm and emergency voice communication equipment.

With over 40 years of trading experience in the industry, the Baldwin Boxall brand is internationally recognised as a symbol of quality and reliability and the company is one of the leading players in the UK marketplace.

The company continues to grow, with revenue growth of 7% achieved during the year, including notable growth in both UK sales and Commissioning & Installation. Underlying this was a 25% year-on-year increase in sales orders received, setting us in good stead for 2026 with a near £4m open order book.

The margin on these sales increased to 43.3% during the year (2024 – 41.5%) as a result of both additional sales volumes and the slightly different sales mix.

To reflect the increased demand and with a view to creating an infrastructure capable of sustaining the growth that the business has experienced in recent years, seven new positions were recruited, with investment in sales, production, commissioning, R&D and administrative support.

The directors continually monitor business risk, with quarterly SWOT and PESTLE reviews completed as part of the company’s ‘Traction’ initiative.

The following key risks have been identified and details of the company’s approach to mitigate these risks is outlined below.

The directors monitor a number of financial and non-financial KPIs to assess the performance of the business, being:

Financial KPIs: Orders received, Open order book, Turnover, Margin and Profit before tax.

Non-Financial KPIs: On-time delivery, No. of returns, Key product availability, No. of Active customers and Staff turnover.

The company continually conducts research and development (R&D) activities through its in-house R&D department to advance its product offerings and work towards its vision of ‘Life Safety for every building – for everyone – everywhere’.

The introduction of BS9991:2024 and Martyn’s Law both present new opportunities for the business within the UK. We are actively participating in industry discussions to offer our insight into the optimum solutions in both cases.

2026 will see the full launch of the new OmniCALL EVC range, with further product developments in progress and anticipated for release in 2027 and beyond.

On behalf of the board

The directors present their annual report and financial statements for the year ended 30 September 2025.

The principal activity of the company is the manufacture of voice alarm systems, emergency voice communication, refuge alarms, fire telephones, and public address systems.

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £510,825 (2024: £374,070).

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are largely conducted in Sterling, minimising the exposure to foreign currency exchange movements. No formal hedging instruments have been utilised during the current or prior year.

WP Audit Services LLP were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are 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 directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are 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. They are 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.

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of Research and Development and Future Developments.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

We have audited the financial statements of Baldwin Boxall Communications Limited (the 'company') for the year ended 30 September 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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 30 September 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's 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 directors' 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 financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors 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 directors are responsible for the other information contained within the annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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 our audit:

• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

In the light of the 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 or the directors' 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, 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 directors' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

As explained more fully in the directors' responsibilities statement, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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 obtained an understanding of the legal and regulatory framework applicable to the preparation of the financial statements of the company, and the procedures that management adopt to ensure compliance. We have considered the extent to which non-compliance might have a material effect on the financial statements, and in particular we identified: the Companies Act 2006 and Financial Reporting Standard 102.

We have also identified other laws and regulations that do not have a direct effect on the amounts or disclosures within the financial statements, but for which compliance is fundamental to the company’s operations and to avoid material penalties, including industry-specific certifications and standards such as The British Standards Institution ISO 9001 and ISO 14001, UKCA certification, and Safe Contractor accreditation, and general laws and regulations including the General Data Protection Regulation, health and safety and employment law.

Having reviewed the laws and regulations applicable to the company, we designed and performed audit procedures to obtain sufficient appropriate audit evidence. Specifically, we:

• Obtained an understanding of the company’s procedures for ensuring compliance with laws and regulations;

• Confirmed that relevant certifications and accreditations were up to date;

• Obtained and reviewed internal policy and procedure documents;

• Made enquiries of management and the directors regarding whether they were aware of any actual or suspected incidences of non-compliance with laws and regulations;

• Obtained and reviewed meeting minutes;

• Reviewed legal expenses accounts for indications of any possible non-compliance; and

• Reviewed the completeness and accuracy of any disclosures made in the financial statements.

We assessed the susceptibility of the company’s financial statements to material misstatement, including considering how fraud might occur. This was performed by:

• Making an assessment of the company’s control environment, systems and controls including identifying any weaknesses and considering the risk of management override of controls;

• Assessing the susceptibility of the company’s financial statements to material misstatement, including considering how fraud could occur;

• Considering whether there are any incentives or opportunities for management to manipulate financial results;

• Obtaining and evaluating the directors’ assessment of the risk of fraud, and enquiring as to whether they are aware of any actual or suspected incidences of fraud;

• Reviewing the accounting policies and accounting estimates for signs of management bias; and

• Identifying key risks relating to irregularities within the estimations involved in ascertaining provisions for stock and warranty claims, the completeness and cut-off of material revenue streams, and the potential for management override of controls.

We then designed audit procedures in response to the risks identified, including review of the data underlying the calculation of provisions, analytical procedures and substantive testing to confirm the reasonableness of the judgements made, performing substantive testing on all material income streams, and reviewing journal entries particularly around the year end.

The audit has been planned and performed in in accordance with auditing standards, however, because of the inherent limitations of audit procedures there remains a risk that we will not detect all irregularities, including those that may lead to material misstatements in the financial statements. There are inherent difficulties in detecting irregularities, and irregularities that result from fraud may be more difficult to detect than irregularities that result from error, for example due to concealment, override of controls, collusion or misrepresentations. In addition, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less audit procedures are able to identify it.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://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.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

Baldwin Boxall Communications Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wealden Industrial Estate, Farningham Road, Crowborough, East Sussex, TN6 2JR.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover is recognised by the company in respect of goods and services supplied during the year and is shown net of VAT and other sales related taxes.

Revenue from product sales is recognised when goods are dispatched. Revenue from maintenance services is recognised when the service is provided.

Research and development expenditure is written off against profits in the year in which it is incurred.

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets are amortised once available for use.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash held on deposit for three months is shown on the Balance Sheet and the Statement of Cash Flow as Cash and cash equivalents

The company only has financial instruments which are classified as basic financial instruments.

Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in profit and loss.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The warranty and dilapidation provisions are the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. The amount expected to be required to settle the obligation is recognised at present value.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Finished goods are inclusive of the cost of direct labour and an allocation of production overheads. 

Labour and overhead allocations are determined at the start of each financial year, using the budget in place, and an hourly rate is determined for each area of production. This is based on the total labour cost for the area, along with an allocation of overheads based on floor areas. For each product costs are absorbed based on the time spent in each department.  If there are significant changes to costs during the year, the hourly rates are reviewed and adapted as appropriate.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

The warranty provisions has been based on historical returns data. The company provides a 7 year warranty on the sale of its products. The carrying amount of the provision at the year-end is £102,363 (2024: £120,103).

The stock provision includes two elements:

The first is a provision against items which are considered to be obsolete. The second relates to items which are considered to be slow moving, based on there having been no usage over the last year. The carrying amount of the provision at the year-end is £111,973 (2024: £104,847).

The average monthly number of persons (including directors) employed by the company during the year was:

Their aggregate remuneration comprised:

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 6 (2024: 6).

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

The provisions relates to warranty costs which are expected to be incurred. The company has a 7 year warranty in place on its products.

The dilapidation provisions relates to costs which are expected to be incurred in relation to rectifying the changes made to leasehold property.

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the year-end £268,761 (2024: £217,652) was due to the pension provider.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Amounts contracted for but not provided in the financial statements:

The remuneration of key management personnel is as follows.

During the year, the company paid rent totaling £55,534 (2024: £42,000) for property jointly owned by a director and a person closely connected to a director. No amounts were due in relation to this rental arrangement at the balance sheet date.

The company also paid rent of £44,240 (2024: 55,200) for use of units owned by the Baldwin Boxall Trust Fund, of which three of the directors are trustees. An amount of £101,826 (2024: £84,123) was due to the Trust Fund at the balance sheet date.

During the year, the company paid for roof repairs to the factories owned by the Baldwin Boxall Trust Fund totalling £nil (2024: £38,884), the costs of which will be borne by the Baldwin Boxall Trust Fund. At the balance sheet date, an amount of £38,884 (2024: £38,884) was owing to the company by the Trust Fund.

During the prior year, the company provided a loan of £30,800 to a director at an interest rate of 3% (2024: 2.25%). Total interest paid by the director during the year was £351 (2024: £332). The loan is repayable over a 3-year period and £5,553 (2024: £25,822) was outstanding at the balance sheet date.