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REGISTERED NUMBER: 10186476 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

South Coast Craft Limited

South Coast Craft Limited (Registered number: 10186476)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


South Coast Craft Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Miss L A Green
J Hewitson
Mrs C M Hewitson
D Hewitson





REGISTERED OFFICE: 21 Church Road
Parkstone
Poole
Dorset
BH14 8UF





REGISTERED NUMBER: 10186476 (England and Wales)





ACCOUNTANT: Richard Allen & Associates
21 Church Road
Parkstone
Poole
Dorset
BH14 8UF

South Coast Craft Limited (Registered number: 10186476)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 149,066 146,417

CURRENT ASSETS
Stocks 16,000 15,800
Debtors 5 10,008 9,254
Cash at bank and in hand 122,082 80,674
148,090 105,728
CREDITORS
Amounts falling due within one year 6 108,759 96,196
NET CURRENT ASSETS 39,331 9,532
TOTAL ASSETS LESS CURRENT
LIABILITIES

188,397

155,949

CREDITORS
Amounts falling due after more than one
year

7

(12,814

)

(17,288

)

PROVISIONS FOR LIABILITIES (28,725 ) (21,702 )
NET ASSETS 146,858 116,959

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 146,758 116,859
SHAREHOLDERS' FUNDS 146,858 116,959

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

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

South Coast Craft Limited (Registered number: 10186476)

Balance Sheet - continued
31 May 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 9 February 2024 and were signed on its behalf by:





Miss L A Green - Director


South Coast Craft Limited (Registered number: 10186476)

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

1. STATUTORY INFORMATION

South Coast Craft Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Not provided
Plant and machinery etc - 33% on cost, 25% on reducing balance, 15% on reducing balance and Not provided

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
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.

South Coast Craft Limited (Registered number: 10186476)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 102,792 157,761 260,553
Additions - 33,249 33,249
At 31 May 2023 102,792 191,010 293,802
DEPRECIATION
At 1 June 2022 30,794 83,342 114,136
Charge for year 6,853 23,747 30,600
At 31 May 2023 37,647 107,089 144,736
NET BOOK VALUE
At 31 May 2023 65,145 83,921 149,066
At 31 May 2022 71,998 74,419 146,417

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 10,008 9,254

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 8,543 6,915
Trade creditors 26,903 35,598
Taxation and social security 34,019 20,748
Other creditors 39,294 32,935
108,759 96,196

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 12,814 17,288