Bay Marine Insurance Consultants Limited

Financial Statements for the Year Ended 31 October 2025

DIRECTORS:

S L Newbold

M Gates

M Farr

REGISTERED OFFICE:

Cardiff Marine Village

Penarth Road

Cardiff

CF11 8TU

REGISTERED NUMBER:

04938862 (England and Wales)

ACCOUNTANTS:

BPU Limited

Chartered Accountants

Radnor House

Greenwood Close

Cardiff Gate Business Park

Cardiff

CF23 8AA

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bay Marine Insurance Consultants Limited for the year ended 31 October 2025 which comprise the Profit and Loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Bay Marine Insurance Consultants Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bay Marine Insurance Consultants Limited and state those matters that we have agreed to state to the Board of Directors of Bay Marine Insurance Consultants Limited, as a body, in this report in accordance with icaew/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bay Marine Insurance Consultants Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bay Marine Insurance Consultants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bay Marine Insurance Consultants Limited. You consider that Bay Marine Insurance Consultants Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bay Marine Insurance Consultants Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BPU Limited

Chartered Accountants

29 July 2026

FIXED ASSETS

Tangible assets

3

3,207

3,362

CURRENT ASSETS

Debtors

4

17,541

9,024

Cash at bank

62,241

77,245

79,782

86,269

CREDITORS

Amounts falling due within one year

5

67,004

78,157

NET CURRENT ASSETS

12,778

8,112

TOTAL ASSETS LESS CURRENT LIABILITIES

15,985

11,474

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

15,885

11,374

SHAREHOLDERS' FUNDS

15,985

11,474

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2026 and were signed on its behalf by:

S L Newbold - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of insurance consultancy services.

Tangible fixed assets

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

Office equipment

-

25% reducing balance

Pension costs

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 5 ) .

3.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 November 2024

29,419

Additions

693

At 31 October 2025

30,112

DEPRECIATION

At 1 November 2024

26,057

Charge for year

848

At 31 October 2025

26,905

NET BOOK VALUE

At 31 October 2025

3,207

At 31 October 2024

3,362

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

6,963

3,193

Other debtors & prepayments

10,578

5,831

17,541

9,024

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

53,294

65,279

Taxes & social security costs

9,887

7,574

Other creditors & accruals

3,823

5,304

67,004

78,157

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2025 and 31 October 2024:

2025

2024

£

£

S L Newbold and A P Alan Peter Newbold

Balance outstanding at start of year

3,634

-

Amounts advanced

8,896

3,634

Amounts repaid

(3,634

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,896

3,634

7.	ULTIMATE CONTROLLING PARTY