Registered number
04329355
Bay Search and Rescue
Unaudited Filleted Accounts
For the Year Ended
30 November 2023
Bay Search and Rescue
Registered number: 04329355
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 297,463 292,459
Current assets
Debtors 4 31,876 24,098
Cash at bank and in hand 188,118 180,614
219,994 204,712
Creditors: amounts falling due within one year 5 (13,551) (24,879)
Net current assets 206,443 179,833
Net assets 503,906 472,292
Capital and reserves
Profit and loss account 503,906 472,292
Shareholders' funds 503,906 472,292
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 9 May 2024
Bay Search and Rescue
Notes to the Accounts
for the year ended 30 November 2023
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 2023 2022
Number Number
Average number of persons employed by the company 14 8
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 72,575 442,026 221,362 735,963
Additions 23,950 6,437 29,500 59,887
Disposals - - (20,290) (20,290)
At 30 November 2023 96,525 448,463 230,572 775,560
Depreciation
At 1 December 2022 24,454 250,801 168,249 443,504
Charge for the year 4,141 24,649 16,523 45,313
On disposals - - (10,720) (10,720)
At 30 November 2023 28,595 275,450 174,052 478,097
Net book value
At 30 November 2023 67,930 173,013 56,520 297,463
At 30 November 2022 48,121 191,225 53,113 292,459
4 Debtors 2023 2022
£ £
Other debtors 31,876 24,098
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 5,071 17,158
Taxation and social security costs 2,680 1,915
Other creditors 5,800 5,806
13,551 24,879
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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