2022-04-012023-03-312023-03-31false01534026BAY TOWAGE & SALVAGE CO. LIMITED2023-10-10iso4217:GBPxbrli:pure015340262022-04-01015340262023-03-31015340262022-04-012023-03-31015340262021-04-01015340262022-03-31015340262021-04-012022-03-3101534026bus:SmallEntities2022-04-012023-03-3101534026bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3101534026bus:FullAccounts2022-04-012023-03-3101534026bus:PrivateLimitedCompanyLtd2022-04-012023-03-3101534026core:WithinOneYear2023-03-3101534026core:AfterOneYear2023-03-3101534026core:WithinOneYear2022-03-3101534026core:AfterOneYear2022-03-3101534026core:ShareCapital2023-03-3101534026core:SharePremium2023-03-3101534026core:RevaluationReserve2023-03-3101534026core:OtherReservesSubtotal2023-03-3101534026core:RetainedEarningsAccumulatedLosses2023-03-3101534026core:ShareCapital2022-03-3101534026core:SharePremium2022-03-3101534026core:RevaluationReserve2022-03-3101534026core:OtherReservesSubtotal2022-03-3101534026core:RetainedEarningsAccumulatedLosses2022-03-3101534026core:LandBuildings2023-03-3101534026core:PlantMachinery2023-03-3101534026core:Vehicles2023-03-3101534026core:FurnitureFittings2023-03-3101534026core:OfficeEquipment2023-03-3101534026core:NetGoodwill2023-03-3101534026core:IntangibleAssetsOtherThanGoodwill2023-03-3101534026core:ListedExchangeTraded2023-03-3101534026core:UnlistedNon-exchangeTraded2023-03-3101534026core:LandBuildings2022-03-3101534026core:PlantMachinery2022-03-3101534026core:Vehicles2022-03-3101534026core:FurnitureFittings2022-03-3101534026core:OfficeEquipment2022-03-3101534026core:NetGoodwill2022-03-3101534026core:IntangibleAssetsOtherThanGoodwill2022-03-3101534026core:ListedExchangeTraded2022-03-3101534026core:UnlistedNon-exchangeTraded2022-03-3101534026core:LandBuildings2022-04-012023-03-3101534026core:PlantMachinery2022-04-012023-03-3101534026core:Vehicles2022-04-012023-03-3101534026core:FurnitureFittings2022-04-012023-03-3101534026core:OfficeEquipment2022-04-012023-03-3101534026core:NetGoodwill2022-04-012023-03-3101534026core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3101534026core:ListedExchangeTraded2022-04-012023-03-3101534026core:UnlistedNon-exchangeTraded2022-04-012023-03-3101534026core:MoreThanFiveYears2022-04-012023-03-3101534026core:Non-currentFinancialInstruments2023-03-3101534026core:Non-currentFinancialInstruments2022-03-3101534026dpl:CostSales2022-04-012023-03-3101534026dpl:DistributionCosts2022-04-012023-03-3101534026core:LandBuildings2022-04-012023-03-3101534026core:PlantMachinery2022-04-012023-03-3101534026core:Vehicles2022-04-012023-03-3101534026core:FurnitureFittings2022-04-012023-03-3101534026core:OfficeEquipment2022-04-012023-03-3101534026dpl:AdministrativeExpenses2022-04-012023-03-3101534026core:NetGoodwill2022-04-012023-03-3101534026core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3101534026dpl:GroupUndertakings2022-04-012023-03-3101534026dpl:ParticipatingInterests2022-04-012023-03-3101534026dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3101534026core:ListedExchangeTraded2022-04-012023-03-3101534026dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3101534026core:UnlistedNon-exchangeTraded2022-04-012023-03-3101534026dpl:CostSales2021-04-012022-03-3101534026dpl:DistributionCosts2021-04-012022-03-3101534026core:LandBuildings2021-04-012022-03-3101534026core:PlantMachinery2021-04-012022-03-3101534026core:Vehicles2021-04-012022-03-3101534026core:FurnitureFittings2021-04-012022-03-3101534026core:OfficeEquipment2021-04-012022-03-3101534026dpl:AdministrativeExpenses2021-04-012022-03-3101534026core:NetGoodwill2021-04-012022-03-3101534026core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3101534026dpl:GroupUndertakings2021-04-012022-03-3101534026dpl:ParticipatingInterests2021-04-012022-03-3101534026dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3101534026core:ListedExchangeTraded2021-04-012022-03-3101534026dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3101534026core:UnlistedNon-exchangeTraded2021-04-012022-03-3101534026core:NetGoodwill2023-03-3101534026core:IntangibleAssetsOtherThanGoodwill2023-03-3101534026core:LandBuildings2023-03-3101534026core:PlantMachinery2023-03-3101534026core:Vehicles2023-03-3101534026core:FurnitureFittings2023-03-3101534026core:OfficeEquipment2023-03-3101534026core:AfterOneYear2023-03-3101534026core:WithinOneYear2023-03-3101534026core:ListedExchangeTraded2023-03-3101534026core:UnlistedNon-exchangeTraded2023-03-3101534026core:ShareCapital2023-03-3101534026core:SharePremium2023-03-3101534026core:RevaluationReserve2023-03-3101534026core:OtherReservesSubtotal2023-03-3101534026core:RetainedEarningsAccumulatedLosses2023-03-3101534026core:NetGoodwill2022-03-3101534026core:IntangibleAssetsOtherThanGoodwill2022-03-3101534026core:LandBuildings2022-03-3101534026core:PlantMachinery2022-03-3101534026core:Vehicles2022-03-3101534026core:FurnitureFittings2022-03-3101534026core:OfficeEquipment2022-03-3101534026core:AfterOneYear2022-03-3101534026core:WithinOneYear2022-03-3101534026core:ListedExch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BAY TOWAGE & SALVAGE CO. LIMITED

Registered Number
01534026
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

BAY TOWAGE & SALVAGE CO. LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

CHARNLEY, Guy Eagram
CHARNLEY, Sharon

Registered Address

Anchorline Basin
Ramsden Dock
Barrow-In-Furness
LA14 2TB

Registered Number

01534026 (England and Wales)
BAY TOWAGE & SALVAGE CO. LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets6359,529465,131
359,529465,131
Current assets
Stocks812,30112,737
Debtors9190,605269,490
Cash at bank and on hand536,348316,593
739,254598,820
Creditors amounts falling due within one year10(154,448)(88,542)
Net current assets (liabilities)584,806510,278
Total assets less current liabilities944,335975,409
Provisions for liabilities(62,475)(79,105)
Net assets881,860896,304
Capital and reserves
Called up share capital2,0002,000
Profit and loss account879,860894,304
Shareholders' funds881,860896,304
The financial statements were approved and authorised for issue by the Board of Directors on 10 October 2023, and are signed on its behalf by:
CHARNLEY, Guy Eagram
Director
CHARNLEY, Sharon
Director

Registered Company No. 01534026
BAY TOWAGE & SALVAGE CO. LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year under review was that of ship owners and operators.
4.Accounting policies
Turnover policy
Rendering of services When the outcome of a transaction can be estimated reliably, turnover from the provision of towage services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to job completion date. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. Interest and dividends receivable Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year99
6.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 April 2232,073404,00729,051465,131
Transfers(1,360)(92,977)(11,265)(105,602)
At 31 March 2330,713311,03017,786359,529
Depreciation and impairment
Charge for year1,36062,80011,26675,426
Other adjustments(1,360)(62,800)(11,266)(75,426)
Net book value
At 31 March 2330,713311,03017,786359,529
At 31 March 2232,073404,00729,051465,131
7.Directors advances, credits and guarantees
Included within creditors is an amount due to the director of £2,864 (Debtor 2021 - £119,408). The maximum overdrawn balance during the year was £119,408.
8.Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2023

2022

££
Other stocks12,30112,737
Total12,30112,737
9.Debtors

2023

2022

££
Trade debtors / trade receivables80,36239,278
Other debtors85,461136,336
Prepayments and accrued income24,78293,876
Total190,605269,490
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.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables7,69212,872
Taxation and social security37,25144,359
Other creditors80,0002,030
Accrued liabilities and deferred income29,50529,281
Total154,44888,542
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.