REGISTERED NUMBER: 16179241 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 13 JANUARY 2025 TO 31 MAY 2026

FOR

THE BAE COLLECTIVE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Dawson

S A Dixon

REGISTERED OFFICE:

Craster Arms

The Office

The Wynd

Beadnell

Northumberland

NE67 5AX

REGISTERED NUMBER:

16179241 (England and Wales)

ACCOUNTANTS:

Greaves Grindle

Chartered Accountants

Victoria House

Bondgate Within

Alnwick

Northumberland

NE66 1TA

FIXED ASSETS

Intangible assets

4

4,000

Tangible assets

5

427,189

431,189

CURRENT ASSETS

Stocks

61,350

Debtors

6

50,531

Cash in hand

12,245

124,126

CREDITORS

Amounts falling due within one year

7

426,543

NET CURRENT LIABILITIES

(302,417

)

TOTAL ASSETS LESS CURRENT LIABILITIES

128,772

CREDITORS

Amounts falling due after more than one year

8

312,482

NET LIABILITIES

(183,710

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(183,810

)

(183,710

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2026.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2026 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2026 and were signed on its behalf by:

M Dawson - Director

S A Dixon - Director

1.	STATUTORY INFORMATION

The Bae Collective Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared under the historical cost convention and 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 provisions of the Companies Act 2006 applicable to companies subject to the small companies regime. The company has early adopted the Periodic Review 2024 amendments to FRS 102 for the period beginning 13 January 2025, including the revised requirements for leases and revenue from contracts with customers and the related Section 1A disclosures.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise fee are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Straight line over 15 years

Improvements to property

-

Straight line over 15 years

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

Straight line over 2 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 period 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.

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.

Leases

The company recognises a right-of-use asset and a lease liability when a leased asset becomes available for use.

Lease liabilities are initially measured at the present value of unpaid lease payments, discounted using the interest rate implicit in the lease where readily determinable, or otherwise the company’s obtainable borrowing rate.

Right-of-use assets are initially measured at cost, comprising the initial lease liability, payments made at or before commencement less incentives received, initial direct costs and any recognised restoration obligations. They are subsequently carried at cost less accumulated depreciation and impairment, adjusted for relevant remeasurements of the lease liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 11 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

5,000

At 31 May 2026

5,000

AMORTISATION

Charge for period

1,000

At 31 May 2026

1,000

NET BOOK VALUE

At 31 May 2026

4,000

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Short

to

and

Computer

leasehold

property

fittings

equipment

Totals

£

£

£

£

£

COST

Additions

305,182

93,210

64,366

12,044

474,802

At 31 May 2026

305,182

93,210

64,366

12,044

474,802

DEPRECIATION

Charge for period

25,910

6,214

9,467

6,022

47,613

At 31 May 2026

25,910

6,214

9,467

6,022

47,613

NET BOOK VALUE

At 31 May 2026

279,272

86,996

54,899

6,022

427,189

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

50,531

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

12,898

Hire purchase contracts and finance leases

20,913

Trade creditors

65,873

Taxation and social security

3,556

Other creditors

323,303

426,543

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts and finance leases

312,482

9.	RELATED PARTY DISCLOSURES

Included in other creditors are loans from the directors at 31 May 2026, the balance on the loan from M Dawson was £97,140 and SA Dixon £20,000

Included within other creditors at 31 May 2026 is an amount due of £12,339.41 to North Coast Collective Ltd, the parent company of The BAE Collective Ltd

Included within other creditors at 31 May 2026 is an amount due of £96,296.09 to Beadnell Point Leisure Ltd, another wholly owned subsidiary of The BAE Collective Ltd parent company North Coast Collective Ltd

Included within other creditors at 31 May 2026 is an amount due of £5,000 to PD Property Ltd a company controlled by the Director M Dawson

Included within other creditors at 31 May 2026 is an amount due of £5,246.60 to The Black Swan (Seahouses) Ltd a company controlled by the Director M Dawson

Included within other creditors at 31 May 2026 is an amount due of £80,428.90 to Windev Projects Ltd a company controlled by the Director SA Dixon.

Included in Administrative expenses is £33,452.96 for management fees which relate to administrative and operational support provided by North Coast Collective Ltd the parent company of The BAE Collective Ltd.

Property lease arrangements with directors

The company occupies premises under a sublease granted by the directors. The directors hold the head lease of the property from an unconnected third-party freeholder.

The rental payments made by the company to the directors are equivalent to the rental payments made by the directors to the freeholder. Accordingly, the directors do not make any profit or loss from the rental arrangements.

The company has capitalized its interest in the leasehold property and recognised a corresponding lease liability in accordance with FRS 102.

The opening lease liability was £294,616, with repayments of £39,900 and finance charges of £54,098 in the period. The lease liability as at 31 May 2026 was £308,814. This amount is included within the creditor amounts for hire purchase contracts and finance leases.

The finance charge represents the accounting interest arising on the recognised lease liability and does not represent an additional interest charge payable to the directors.

The finance charge in the initial period exceeded the rental payments made, resulting in an increase in the carrying value of the lease liability. This is expected to reverse in subsequent periods as rental payments reduce the outstanding liability over the remaining lease term.

The outstanding liability is repayable through future rental payments in accordance with the terms of the sublease.

10.	OTHER DEBTOR -SECURITY DEPOSITS HELD - ALLWYN LOTTERY

Included within Other Debtors is a repayable security deposit held by Allwyn Lottery of £5,000.