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REGISTERED NUMBER: 05882699









Unaudited Financial Statements

for the Year Ended 31 March 2023

for

COAST HOMES (BRISTOL) LIMITED

COAST HOMES (BRISTOL) LIMITED (REGISTERED NUMBER: 05882699)

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


COAST HOMES (BRISTOL) LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: A T Harper





REGISTERED OFFICE: Pyke House
Passage Road
Aust
Bristol
BS35 4BG





REGISTERED NUMBER: 05882699





ACCOUNTANTS: Haines Watts
Chartered Accountants
6-8 Bath Street
Bristol
BS1 6HL

COAST HOMES (BRISTOL) LIMITED (REGISTERED NUMBER: 05882699)

Balance Sheet
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 8 10
Investment property 5 2,659,999 2,287,117
2,660,007 2,287,127

CURRENT ASSETS
Debtors 6 250,902 296,983
Cash at bank 14,842 36,990
265,744 333,973
CREDITORS
Amounts falling due within one year 7 (780,495 ) (767,975 )
NET CURRENT LIABILITIES (514,751 ) (434,002 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,145,256

1,853,125

CREDITORS
Amounts falling due after more than one
year

8

(536,873

)

(593,966

)

PROVISIONS FOR LIABILITIES (104,607 ) (27,107 )
NET ASSETS 1,503,776 1,232,052

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 734,111 438,729
Retained earnings 769,565 793,223
SHAREHOLDERS' FUNDS 1,503,776 1,232,052

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 director acknowledges his 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.

COAST HOMES (BRISTOL) LIMITED (REGISTERED NUMBER: 05882699)

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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 17 November 2023 and were signed by:





A T Harper - Director


COAST HOMES (BRISTOL) LIMITED (REGISTERED NUMBER: 05882699)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023


1. COMPANY INFORMATION

Coast Homes (Bristol) Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The company's principal activities and nature of its operations was that of real estate rentals.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Turnover
Turnover represents rental income receivable during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Cash and cash equivalents
Cash and cash equivalents 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 current liabilities.

COAST HOMES (BRISTOL) LIMITED (REGISTERED NUMBER: 05882699)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial assets
These include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities
This includes trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

COAST HOMES (BRISTOL) LIMITED (REGISTERED NUMBER: 05882699)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 739
DEPRECIATION
At 1 April 2022 729
Charge for year 2
At 31 March 2023 731
NET BOOK VALUE
At 31 March 2023 8
At 31 March 2022 10

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 2,287,117
Revaluations 372,882
At 31 March 2023 2,659,999
NET BOOK VALUE
At 31 March 2023 2,659,999
At 31 March 2022 2,287,117

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2016 465,835
Valuation in 2023 372,882
Cost 1,821,282
2,659,999

In the opinion of the director the fair value of investment properties as at 31 March 2023 is £2,659,999.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by participating interests 250,902 296,983

COAST HOMES (BRISTOL) LIMITED (REGISTERED NUMBER: 05882699)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 60,002 60,002
Trade creditors 3,829 3,631
Tax 10,843 15,784
Other creditors 679,748 676,675
Directors' current accounts 9,868 63
Accruals and deferred income 16,205 11,820
780,495 767,975

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 60,002 60,002
Bank loans - 2-5 years 166,652 174,652
Bank loans more 5 yr by instal 310,219 359,312
536,873 593,966

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 310,219 359,312

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 570,209 619,302

The bank loan is secured by a fixed and floating charge over the company's assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1.00 100 100

COAST HOMES (BRISTOL) LIMITED (REGISTERED NUMBER: 05882699)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023


11. RELATED PARTY DISCLOSURES

Included in amounts owed by participating interests is a loan of £250,902 (2022 - £296,983) owed by Joseph Colman & Son Limited. It is interest free and has no set date of repayment.

Mr A T Harper is a director of the company and Andrew Harper Homes Limited. Included in other creditors is £664,945 (2022 - £664,945) owed to Andrew Harper Homes Limited. The loan is interest free and has no set date of repayment.