Silverfin false 31/03/2023 01/04/2022 31/03/2023 Alice Charlotte Litherland 08/03/2022 William Johann Litherland 08/03/2022 20 September 2023 The principal activity of the Company during the financial year was to act as a holding company. 13964117 2023-03-31 13964117 bus:Director1 2023-03-31 13964117 bus:Director2 2023-03-31 13964117 core:CurrentFinancialInstruments 2023-03-31 13964117 core:ShareCapital 2023-03-31 13964117 core:RetainedEarningsAccumulatedLosses 2023-03-31 13964117 core:AdditionsToInvestments 2023-03-31 13964117 core:CostValuation 2023-03-31 13964117 core:CurrentFinancialInstruments 1 2023-03-31 13964117 bus:OrdinaryShareClass1 2023-03-31 13964117 2022-04-01 2023-03-31 13964117 bus:FullAccounts 2022-04-01 2023-03-31 13964117 bus:SmallEntities 2022-04-01 2023-03-31 13964117 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 13964117 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13964117 bus:Director1 2022-04-01 2023-03-31 13964117 bus:Director2 2022-04-01 2023-03-31 13964117 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13964117 (England and Wales)

COASTAL INVESTMENTS LTD

Unaudited Financial Statements
For the financial period ended 31 March 2023
Pages for filing with the registrar

COASTAL INVESTMENTS LTD

Unaudited Financial Statements

For the financial period ended 31 March 2023

Contents

COASTAL INVESTMENTS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
COASTAL INVESTMENTS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023
£
Fixed assets
Investments 3 144,758
144,758
Current assets
Cash at bank and in hand 46,542
46,542
Creditors: amounts falling due within one year 4 ( 183,411)
Net current liabilities (136,869)
Total assets less current liabilities 7,889
Net assets 7,889
Capital and reserves
Called-up share capital 5 2
Profit and loss account 7,887
Total shareholders' funds 7,889

For the financial period ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Coastal Investments Ltd (registered number: 13964117) were approved and authorised for issue by the Director on 20 September 2023. They were signed on its behalf by:

Alice Charlotte Litherland
Director
COASTAL INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 31 March 2023
COASTAL INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Coastal Investments Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, United Kingdom. The principal place of business is 49 Fore Street, Brixham, Devon, TQ5 8AG.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

As these financial statements cover the first financial period since the company's incorporation, the reporting period length is longer than 12 months. Therefore, future periods will not be entirely comparable.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 April 2022 0
Additions 144,758
At 31 March 2023 144,758
Carrying value at 31 March 2023 144,758

4. Creditors: amounts falling due within one year

2023
£
Amounts owed to connected companies 8,536
Amounts owed to directors 173,125
Accruals 1,750
183,411

5. Called-up share capital

2023
£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2

6. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2023
£
L J Boyce 8,536

Transactions with the entity's directors

2023
£
Dividends paid 60,000
Amounts owed to directors (173,125)