BAI (RUN-OFF) LTD
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Cash
—
Latest balance sheet
Net assets
-£527M
+1.8% vs 2023
Employees
3
0% vs 2023
Profit before tax
£9.6M
+525.5% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Accounts not prepared on a going-concern basis
The financial statements have been prepared on a break-up basis, as the Company is not a going concern, and on the assumption that an orderly run off of the Company's liabilities will occur under the Scheme of Arrangement ("the Scheme") entered into on 22 July 2002 with its creditors.
-
Going-concern uncertainty disclosed
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Negative shareholders' funds
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Gross written premiums | — | — | — | |
| Net earned premiums | — | — | — | |
| Claims incurred | -£3,336,000 | -£18,061,000 | -441.4% | |
| Investment return | £1,935,000 | -£3,268,000 | -268.9% | |
| Profit before tax | £1,540,000 | £9,632,000 | +525.5% | |
| Net profit | £1,540,000 | £9,632,000 | +525.5% | |
| Insurance contract liabilities | £674,400,000 | £655,060,000 | -2.9% | |
| Total assets | £67,307,000 | £60,057,000 | -10.8% | |
| Total liabilities | £603,806,000 | £586,924,000 | -2.8% | |
| Equity | — | — | — | |
| Average employees | 3 | 3 | 0% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Gearing (liabilities / total assets) | 897.1% | 977.3% |
Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 2 times since incorporation
- BAI (RUN-OFF) LTD 1995-09-05 → present
- BUILDERS ACCIDENT INSURANCE LIMITED (THE) 1977-12-31 → 1995-09-05
- BUILDERS' ACCIDENT LIMITED(THE) 1881-04-12 → 1977-12-31
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Blick Rothenberg Audit LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Not a going concern (break-up basis)
“The financial statements have been prepared on a break-up basis, as the Company is not a going concern, and on the assumption that an orderly run off of the Company's liabilities will occur under the Scheme of Arrangement ("the Scheme") entered into on 22 July 2002 with its creditors.”
Group structure
- BAI (RUN-OFF) LTD · parent
- BAI Claims Services Ltd 100%
Significant events
- “On 20 June 1995, the directors decided that it was inappropriate to write further new business.”
- “On 11 July 2002, a Scheme of Arrangement was unanimously approved at a creditors' meeting and became effective on 22 July 2002.”
- “On 28 March 2006, the Company acquired the entire issued share capital of BAI Claims Services Ltd.”
- “The Scheme Administrators placed BAI Claims Services into solvent liquidation on 1 November 2024.”
- “On 1 April 2025, Greenback Alan LLP, the Company's auditor, was acquired by Blick Rothenberg Audit LLP.”
- “The Company's subsidiary BAI Claims Services Limited was dissolved on 7 June 2025.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 8 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| GOODWIN, John Arthur, Mr. | Secretary | 1994-12-01 | — | British |
| BRAY, Gary Ronald | Director | 2023-09-14 | Jan 1961 | British |
| GOODWIN, John Arthur, Mr. | Director | 1995-08-17 | Jul 1943 | British |
| WHITE, Keith Hamilton | Director | 1993-06-17 | Aug 1944 | British |
Show 8 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HARTWELL, David | Secretary | — | 1994-11-30 |
| BECK, Clive | Director | — | 2000-04-03 |
| BISSET, Thomas Melville, Mister | Director | — | 1995-08-17 |
| BOUCHER, Thomas Frederick Knowles | Director | — | 1998-09-14 |
| CLIFTON, Brian Francis | Director | — | 1993-08-31 |
| COWAN, Ralph | Director | — | 1995-08-17 |
| DOUBLE, David Charles, Mr. | Director | 2009-12-16 | 2013-07-31 |
| TRIBE, Edward Stanley Dunlop | Director | — | 2009-12-16 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 123 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-12-21 | AA | accounts | Accounts with accounts type full | |
| 2025-05-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-03 | AA | accounts | Accounts with accounts type full | |
| 2024-05-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-09-27 | AA | accounts | Accounts with accounts type full | |
| 2023-09-15 | AP01 | officers | Appoint person director company with name date | |
| 2023-05-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-09-21 | AA | accounts | Accounts with accounts type full | |
| 2022-05-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-09-29 | AA | accounts | Accounts with accounts type full | |
| 2021-05-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-12-02 | AA | accounts | Accounts with accounts type full | |
| 2020-05-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2019-09-30 | AA | accounts | Accounts with accounts type full | |
| 2019-05-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2018-11-28 | AA | accounts | Accounts with accounts type full | |
| 2018-05-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2017-12-04 | AA | accounts | Accounts with accounts type full | |
| 2017-05-16 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2016-09-29 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 1
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.