Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-3127No description of principal activity2022-01-01false27falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06966352 2022-01-01 2022-12-31 06966352 2021-01-01 2021-12-31 06966352 2022-12-31 06966352 2021-12-31 06966352 c:Director1 2022-01-01 2022-12-31 06966352 d:Buildings 2022-01-01 2022-12-31 06966352 d:Buildings 2022-12-31 06966352 d:Buildings 2021-12-31 06966352 d:Buildings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 06966352 d:FurnitureFittings 2022-01-01 2022-12-31 06966352 d:FurnitureFittings 2022-12-31 06966352 d:FurnitureFittings 2021-12-31 06966352 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 06966352 d:OfficeEquipment 2022-01-01 2022-12-31 06966352 d:OfficeEquipment 2022-12-31 06966352 d:OfficeEquipment 2021-12-31 06966352 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 06966352 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 06966352 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 06966352 d:PatentsTrademarksLicencesConcessionsSimilar 2021-12-31 06966352 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 06966352 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-12-31 06966352 d:Goodwill 2022-12-31 06966352 d:Goodwill 2021-12-31 06966352 d:CurrentFinancialInstruments 2022-12-31 06966352 d:CurrentFinancialInstruments 2021-12-31 06966352 d:Non-currentFinancialInstruments 2022-12-31 06966352 d:Non-currentFinancialInstruments 2021-12-31 06966352 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06966352 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 06966352 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 06966352 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 06966352 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 06966352 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 06966352 d:ShareCapital 2022-12-31 06966352 d:ShareCapital 2021-12-31 06966352 d:OtherMiscellaneousReserve 2022-01-01 2022-12-31 06966352 d:OtherMiscellaneousReserve 2022-12-31 06966352 d:OtherMiscellaneousReserve 2021-12-31 06966352 d:RetainedEarningsAccumulatedLosses 2022-12-31 06966352 d:RetainedEarningsAccumulatedLosses 2021-12-31 06966352 c:OrdinaryShareClass1 2022-01-01 2022-12-31 06966352 c:OrdinaryShareClass1 2022-12-31 06966352 c:OrdinaryShareClass1 2021-12-31 06966352 c:OrdinaryShareClass2 2022-01-01 2022-12-31 06966352 c:OrdinaryShareClass2 2022-12-31 06966352 c:OrdinaryShareClass2 2021-12-31 06966352 c:FRS102 2022-01-01 2022-12-31 06966352 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 06966352 c:FullAccounts 2022-01-01 2022-12-31 06966352 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 06966352 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2022-01-01 2022-12-31 06966352 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2022-01-01 2022-12-31 06966352 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2022-01-01 2022-12-31 06966352 d:ExternallyAcquiredIntangibleAssets 2022-01-01 2022-12-31 06966352 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 06966352 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 06966352 d:OtherDeferredTax 2022-12-31 06966352 d:OtherDeferredTax 2021-12-31 06966352 d:Goodwill d:OwnedIntangibleAssets 2022-01-01 2022-12-31 06966352 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2022-01-01 2022-12-31 06966352 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06966352









COASTAL HOTELS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
COASTAL HOTELS LTD
REGISTERED NUMBER: 06966352

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
68,641
77,556

Tangible assets
 5 
3,085,918
3,181,475

  
3,154,559
3,259,031

Current assets
  

Stocks
 6 
52,235
32,526

Debtors: amounts falling due within one year
 7 
110,794
174,383

Cash at bank and in hand
 8 
8,168
1,606

  
171,197
208,515

Creditors: amounts falling due within one year
 9 
(532,765)
(2,214,628)

Net current liabilities
  
 
 
(361,568)
 
 
(2,006,113)

Total assets less current liabilities
  
2,792,991
1,252,918

Creditors: amounts falling due after more than one year
 10 
(1,453,194)
(255,000)

Provisions for liabilities
  

Deferred tax
 12 
(84,708)
(111,772)

  
 
 
(84,708)
 
 
(111,772)

Net assets
  
1,255,089
886,146


Capital and reserves
  

Called up share capital 
 13 
10
10

Other reserves
 14 
751,488
751,488

Profit and loss account
 14 
503,591
134,648

  
1,255,089
886,146


Page 1

 
COASTAL HOTELS LTD
REGISTERED NUMBER: 06966352
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




H L Cragoe
Director

Date: 21 February 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
COASTAL HOTELS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Coastal Hotels Limited is a private company, limited by shares and incorporated in England and Wales. The address of the registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH. The principal place of business address is The Gallivant, New Lydd Road, Camber, Rye, East Sussex, TN31 7RB.
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. As a result, the director considers it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
COASTAL HOTELS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
COASTAL HOTELS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
not provided
Fixtures and fittings
-
8%
Straight line method
Office equipment
-
8%
Straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 27 (2021 - 27).

Page 5

 
COASTAL HOTELS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Intangible assets




Website
Development expenditure
Goodwill
Total

£
£
£
£



Cost


At 1 January 2022
106,149
11,965
50,000
168,114


Additions
-
2,717
-
2,717



At 31 December 2022

106,149
14,682
50,000
170,831



Amortisation


At 1 January 2022
33,604
6,955
50,000
90,559


Charge for the year on owned assets
8,333
3,298
-
11,631



At 31 December 2022

41,937
10,253
50,000
102,190



Net book value



At 31 December 2022
64,212
4,429
-
68,641



At 31 December 2021
72,546
5,010
-
77,556



Page 6

 
COASTAL HOTELS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Tangible fixed assets





Freehold property
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2022
1,925,984
2,083,686
122,939
4,132,609


Additions
23,113
39,510
24,005
86,628



At 31 December 2022

1,949,097
2,123,196
146,944
4,219,237



Depreciation


At 1 January 2022
-
909,377
41,757
951,134


Charge for the year on owned assets
-
171,495
10,690
182,185



At 31 December 2022

-
1,080,872
52,447
1,133,319



Net book value



At 31 December 2022
1,949,097
1,042,324
94,497
3,085,918



At 31 December 2021
1,925,984
1,174,309
81,182
3,181,475


6.


Stocks

2022
2021
£
£

Stocks
52,235
32,526

52,235
32,526


Page 7

 
COASTAL HOTELS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Debtors

2022
2021
£
£


Trade debtors
1,306
-

Other debtors
75,258
143,119

Prepayments and accrued income
34,230
31,264

110,794
174,383



8.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
8,168
1,606

Less: bank overdrafts
(37,334)
(39,965)

(29,166)
(38,359)



9.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
37,334
39,965

Bank loans
-
1,517,000

Trade creditors
109,403
173,302

Amounts owed to group undertakings
2,356
-

Other taxation and social security
181,961
97,705

Other creditors
179,122
362,784

Accruals and deferred income
22,589
23,872

532,765
2,214,628


Page 8

 
COASTAL HOTELS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

10.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
-
255,000

Amounts owed to group undertakings
1,453,194
-

1,453,194
255,000



11.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
-
1,517,000


-
1,517,000


Amounts falling due 2-5 years

Bank loans
-
255,000


-
255,000


-
1,772,000


Bank loans are secured by way of a fixed and floating charge over the assets of the Company. A cross guarantee between the company and its parent undertakings exists, securing the legal mortgage of all freeehold and leasehold property to the bank by way of fixed and floating charge

Page 9

 
COASTAL HOTELS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

12.


Deferred taxation




2022


£






At beginning of year
(111,771)


Charged to profit or loss
27,063



At end of year
(84,708)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(111,771)
(120,253)

Deferred tax movement
27,062
8,482

(84,709)
(111,771)


13.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



6 (2021 - 6) Ordinary shares shares of £1 each
6
6
4 (2021 - 4) B ordinary shares shares of £1 each
4
4

10

10



14.


Reserves

Other reserves

Includes revaluation of investment property and deferred tax on revaluations.

 
Page 10