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REGISTERED NUMBER: 12342054 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

BAXENDALE EMPLOYEE OWNERSHIP LIMITED

BAXENDALE EMPLOYEE OWNERSHIP LIMITED (REGISTERED NUMBER: 12342054) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| BAXENDALE EMPLOYEE OWNERSHIP LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | E S Hall

| E A Alston

| REGISTERED OFFICE: | Runway East

| 279 Tottenham Court Road

| London

| W1T 7RJ

| REGISTERED NUMBER: | 12342054 (England and Wales)

| ACCOUNTANTS: | Lewis Brownlee (Chichester) Limited

| Chartered Accountants

| Appledram Barns

| Birdham Road

| Chichester

| West Sussex

| PO20 7EQ

BAXENDALE EMPLOYEE OWNERSHIP LIMITED (REGISTERED NUMBER: 12342054) |

BALANCE SHEET

31 DECEMBER 2025

2025 | 2024 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Tangible assets | 4 | 12,778 |  | 6,263 |  |

CURRENT ASSETS

Debtors | 5 | 431,095 |  | 325,248 |  |

Cash at bank | 906,003 |  | 641,963 |  |

1,337,098 |  | 967,211 |  |

CREDITORS

Amounts falling due within one year | 6 | 798,343 |  | 595,892 |  |

NET CURRENT ASSETS | 538,755 |  | 371,319 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 551,533 |  | 377,582 |  |

PROVISIONS FOR LIABILITIES | 1,566 |  | 1,566 |  |

NET ASSETS | 549,967 |  | 376,016 |  |

CAPITAL AND RESERVES

Called up share capital | 75,000 |  | 75,000 |  |

Retained earnings | 474,967 |  | 301,016 |  |

549,967 |  | 376,016 |  |

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

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

The directors acknowledge their responsibilities for:

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

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

BAXENDALE EMPLOYEE OWNERSHIP LIMITED (REGISTERED NUMBER: 12342054) |

BALANCE SHEET - continued

31 DECEMBER 2025

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2026 and were signed on its behalf by:

E S Hall - Director

BAXENDALE EMPLOYEE OWNERSHIP LIMITED (REGISTERED NUMBER: 12342054) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Baxendale Employee Ownership Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The presentational currency of the financial statements is the Pound Sterling (£) which is rounded to the nearest pound (£).

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover represents amounts receivable for consultancy services rendered by the entity to assist traditional companies with the transition to becoming employee-owned businesses.

| Turnover is recognised in the period for which the services are rendered and based on the stage of completion.

| Tangible fixed assets

| Tangible fixed assets held for the company’s own use are stated at cost less accumulated depreciation and accumulated impairment losses.

| Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on a straight line basis at rates between 15% to 33% per annum.

| At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

| Financial instruments

| Financial instruments are classified by the director as basic or advanced following the conditions in FRS 102 section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

BAXENDALE EMPLOYEE OWNERSHIP LIMITED (REGISTERED NUMBER: 12342054) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Employee benefits

| The cost of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 9 (2024 - 8 ) .

4. | TANGIBLE FIXED ASSETS

Plant and |

machinery |

etc |

| £

| COST

| At 1 January 2025 | 18,477 |  |

| Additions | 11,278 |  |

| At 31 December 2025 | 29,755 |  |

| DEPRECIATION

| At 1 January 2025 | 12,214 |  |

| Charge for year | 4,763 |  |

| At 31 December 2025 | 16,977 |  |

| NET BOOK VALUE

| At 31 December 2025 | 12,778 |  |

| At 31 December 2024 | 6,263 |  |

BAXENDALE EMPLOYEE OWNERSHIP LIMITED (REGISTERED NUMBER: 12342054) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| £ | £

| Trade debtors | 259,859 |  | 200,556 |  |

| Other debtors | 171,236 |  | 124,692 |  |

431,095 |  | 325,248 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| £ | £

| Trade creditors | 13,806 |  | 10,439 |  |

| Taxation and social security | 217,450 |  | 93,109 |  |

| Other creditors | 567,087 |  | 492,344 |  |

798,343 |  | 595,892 |  |

7. | PENSION COMMITMENTS

| At the balance sheet date, unpaid contributions of £74,292 (2024 - £56,797) were due and are paid within 9 months of the end of the accounting period. They are included in other creditors.

8. | OFF-BALANCE SHEET ARRANGEMENTS

| As at 31 December 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £15,504 (2024 - £46,512).

9. | ULTIMATE CONTROLLING PARTY

| The company's ultimate controlling party is Baxendale Employee Ownership Trustees Limited as trustee of the Baxendale Employee Ownership Trust (a trust where the assets are held for the benefit of the employees). Baxendale Employee Ownership Trustees Limited was incorporated and is a registered company in Scotland.