Registered number
04329355
Bay Search and Rescue
Unaudited Filleted Accounts
For the Year Ended
30 November 2021
Bay Search and Rescue
Registered number: 04329355
Balance Sheet
as at 30 November 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 289,834 317,829
Current assets
Debtors 4 15,475 13,666
Cash at bank and in hand 152,727 130,371
168,202 144,037
Creditors: amounts falling due within one year 5 (12,016) (12,244)
Net current assets 156,186 131,793
Net assets 446,020 449,622
Capital and reserves
Profit and loss account 446,020 449,622
Shareholders' funds 446,020 449,622
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Stebbings
Director
Approved by the board on 15 August 2022
Bay Search and Rescue
Notes to the Accounts
for the year ended 30 November 2021
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 5% straight line
Airboat and Hagglund Carrier 10% reducing balance
Motor Vehicles 20% reducing balance
Plant and machinery 20% reducing balance
Computer Equipment 33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2020 58,734 448,660 237,562 744,956
Additions 12,151 30,815 - 42,966
Disposals - (81,543) - (81,543)
At 30 November 2021 70,885 397,932 237,562 706,379
Depreciation
At 1 December 2020 18,651 259,213 149,263 427,127
Charge for the year 2,859 24,996 17,660 45,515
On disposals - (56,097) - (56,097)
At 30 November 2021 21,510 228,112 166,923 416,545
Net book value
At 30 November 2021 49,375 169,820 70,639 289,834
At 30 November 2020 40,083 189,447 88,299 317,829
4 Debtors 2021 2020
£ £
Other debtors 15,475 13,666
5 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 4,696 3,639
Taxation and social security costs 1,768 1,567
Other creditors 5,552 7,038
12,016 12,244
6 Other information
Bay Search and Rescue is a private company limited by guarantee and incorporated in England. Its registered office is:
Howe Lodge
Lyth
Kendal
Cumbria
LA8 8DF
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