BOAT SAFETY SCHEME CERTIFICATION CHARGES SET TO RISE AS PART OF NEW FOUR YEAR BUSINESS AND INVESTMENT PLAN
The Boat Safety Scheme (BSS) Management Committee has agreed a new four-year business plan to resource its work to 2022 and invest in improvements that will have an even longer-term benefit. The plan also includes the first price rise in certification charges for eight years.
BSS Examiners will pay a new price of £36 (excluding VAT) for each certification they issue to a boat, which is a £7 rise that they will likely choose to pass onto customers.
The new price will apply from 1 April 2018 and the Scheme intends holding it for at least the whole of the four-year business plan period, which is designed to coincide with the four-year lifespan of BSS Certification.
The Scheme acknowledges that times are tough and boaters face other price increases associated with their boating activity, so we will remain committed to continued effectiveness and efficiency to hold down costs while delivering more results.
Certification income represents almost 90% of the Scheme’s revenue all of which is invested into the work underpinning the BSS Examination service, risk research and review and the promotion of boat safety advice.
Commenting on this news, Graham Watts, the BSS Manager said, “The Scheme’s track record on keeping to a business plan and controlling costs has been good with the resultant freeze in the BSS Certifications price for the last eight years, but having considered all options, a price change now cannot be avoided.
“Predicted inflationary pressures rising over the next four years means the BSS needs to invest in its information technology and training in order to maintain the efficiency gains we have already achieved.
ADMINISTRATORS APPOINTED TO OYSTER MARINE HOLDINGS LIMITED
Administrators have been appointed to Oyster Marine Holdings Limited, the holding company of UK luxury yacht brand, Oyster Yachts.
The firm, which has its headquarters in Southampton, and also trades from Wherstead in Suffolk, has two employees, and holds the Oyster Group’s interest in the intellectual property of the technical drawings and moulds used in the production of the yachts in the Oyster range.
In a statement, KPMG Restructuring said no other companies within the Oyster group form part of this particular administration.
This includes Oyster Marine, Oyster Brokerage and Oyster Palma.
Neil Gostelow, partner at KPMG and joint administrator, commented: “Late last week, the company directors confirmed that they had been unable to secure the financial support they needed to continue to trade the business. Our immediate priority will be to seek a buyer for the business and its assets and would encourage any interested parties to contact us as soon as possible.”
In the notice, Oyster CEO David Tydeman told employees that the company had “been unable to secure financial support to enable it to continue to trade at this time and it is now facing entering an insolvency procedure imminently.
“After considering all possible options, the Company has concluded that there is a risk that it will be unable to continue to provide work for all of its employees at all locations and that it is likely that it will have to make all of its employees redundant,” continued the notice.
BOAT SAFETY SCHEME
“The Company has run out of cash and is unable to pay employees for work. The Company decided to close all operations (for the immediate future) to prevent or minimise all loss to employees and all other creditors”.
8 | The Report • March 2018 • Issue 83
Marine News
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