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REGISTERED NUMBER: SC343371 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Coastworks Operations Limited

Coastworks Operations Limited (Registered number: SC343371)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Coastworks Operations Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: B R Young
H.R. Smallwood





SECRETARY: H R Smallwood





REGISTERED OFFICE: 8 Allanton Park Terrace
Fairlie
Ayrshire
KA29 0AW





REGISTERED NUMBER: SC343371 (Scotland)





ACCOUNTANTS: Henderson & Company
73 Union Street
Greenock
Renfrewshire
PA16 8BG

Coastworks Operations Limited (Registered number: SC343371)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,912,313 2,792,098

CURRENT ASSETS
Stocks 14,721 23,167
Debtors 5 537,165 636,727
Cash at bank and in hand 551,279 165,289
1,103,165 825,183
CREDITORS
Amounts falling due within one year 6 425,643 442,520
NET CURRENT ASSETS 677,522 382,663
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,589,835

3,174,761

CREDITORS
Amounts falling due after more than one
year

7

(624,218

)

(679,313

)

PROVISIONS FOR LIABILITIES (728,078 ) (530,498 )
NET ASSETS 2,237,539 1,964,950

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Other reserves 292,368 292,368
Retained earnings 1,943,171 1,670,582
2,237,539 1,964,950

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Coastworks Operations Limited (Registered number: SC343371)

Balance Sheet - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by:





B R Young - Director


Coastworks Operations Limited (Registered number: SC343371)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Coastworks Operations Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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 is measured at the fair value of the consideration received or receivable, excluding value added tax.
Turnover is recognised when the work contracted for has been completed.

Tangible fixed assets
Certain items of plant and machinery have been incorporated at fair value based on a previous valuation.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25%, 10% and 5% on cost.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Coastworks Operations Limited (Registered number: SC343371)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, which ever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period using the effective interest method. The capital element of future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction cost, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short term deposits with an original maturity date of three months or less.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 4,176,908
Additions 434,936
Disposals (72,378 )
At 31 March 2023 4,539,466
DEPRECIATION
At 1 April 2022 1,384,810
Charge for year 279,396
Eliminated on disposal (37,053 )
At 31 March 2023 1,627,153
NET BOOK VALUE
At 31 March 2023 2,912,313
At 31 March 2022 2,792,098

Coastworks Operations Limited (Registered number: SC343371)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 451,298 515,250
Other debtors 85,867 121,477
537,165 636,727

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 110,369 136,275
Hire purchase contracts 26,995 -
Trade creditors 85,820 154,940
Taxation and social security 119,747 6,154
Other creditors 82,712 145,151
425,643 442,520

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 563,799 646,255
Hire purchase contracts 36,385 -
Other creditors 24,034 33,058
624,218 679,313

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
B R Young
Balance outstanding at start of year 8,490 12,130
Amounts repaid (3,640 ) (3,640 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,850 8,490