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Company No: 10627720 (England and Wales)

COASTLINE DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

COASTLINE DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

COASTLINE DEVELOPMENTS LIMITED

BALANCE SHEET

As at 31 July 2023
COASTLINE DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 250 426
Investment property 4 465,208 465,208
465,458 465,634
Current assets
Debtors 5 254 0
Cash at bank and in hand 8,665 37,953
8,919 37,953
Creditors: amounts falling due within one year 6 ( 322,498) ( 357,760)
Net current liabilities (313,579) (319,807)
Total assets less current liabilities 151,879 145,827
Creditors: amounts falling due after more than one year 7 ( 315,000) ( 315,000)
Net liabilities ( 163,121) ( 169,173)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 163,221 ) ( 169,273 )
Total shareholders' deficit ( 163,121) ( 169,173)

For the financial year ending 31 July 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 Coastline Developments Limited (registered number: 10627720) were approved and authorised for issue by the Board of Directors on 07 March 2024. They were signed on its behalf by:

G K Watson
Director
COASTLINE DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
COASTLINE DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

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

General information and basis of accounting

Coastline Developments Limited (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 12 Barton Drive, Barton On Sea, New Milton, BH25 7JJ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 Balance Sheet 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.

Turnover

Turnover is stated as rent received and is recognised when the significant risks and rewards are considered to have been transferred to the tennant.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 August 2022 529 529
At 31 July 2023 529 529
Accumulated depreciation
At 01 August 2022 103 103
Charge for the financial year 176 176
At 31 July 2023 279 279
Net book value
At 31 July 2023 250 250
At 31 July 2022 426 426

4. Investment property

Investment property
£
Valuation
As at 01 August 2022 465,208
As at 31 July 2023 465,208

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 465,208 465,208

5. Debtors

2023 2022
£ £
Other debtors 254 0

6. Creditors: amounts falling due within one year

2023 2022
£ £
Other creditors 322,498 357,760

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 315,000 315,000

The loan is secured against the property held by the company.