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REGISTERED NUMBER: 08842492 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

Coast Investments (South West) Ltd

Coast Investments (South West) Ltd (Registered number: 08842492)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Coast Investments (South West) Ltd

COMPANY INFORMATION
for the year ended 31 December 2023







Director: J Valentine





Secretary: Mrs L Valentine





Registered office: Abacus House
129 North HIll
Plymouth
PL4 8JY





Business address: 4 Salcombe Heights Close
Salcombe
Devon
TQ8 8EL





Registered number: 08842492 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

Coast Investments (South West) Ltd (Registered number: 08842492)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 29,089 3,026
Investments 5 16 16
29,105 3,042

Current assets
Debtors 6 356,332 332,969
Cash at bank 1,882 1,573
358,214 334,542
Creditors
Amounts falling due within one year 7 417,384 198,189
Net current (liabilities)/assets (59,170 ) 136,353
Total assets less current liabilities (30,065 ) 139,395

Creditors
Amounts falling due after more than one
year

8

(17,985

)

(160,522

)

Provisions for liabilities 9 (438 ) (570 )
Net liabilities (48,488 ) (21,697 )

Capital and reserves
Called up share capital 10 100 100
Retained earnings (48,588 ) (21,797 )
Shareholders' funds (48,488 ) (21,697 )

Coast Investments (South West) Ltd (Registered number: 08842492)

BALANCE SHEET - continued
31 December 2023


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

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

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 & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 March 2024 and were signed by:





J Valentine - Director


Coast Investments (South West) Ltd (Registered number: 08842492)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Coast Investments (South West) Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address and business 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 receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of goods have transferred to the buyer. Turnover from the rendering of services is recognised by the reference to the stage of completion of the contract. The stage of completion of a contact is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & 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.

Coast Investments (South West) Ltd (Registered number: 08842492)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 1 January 2023 15,210 - 15,210
Additions - 30,295 30,295
At 31 December 2023 15,210 30,295 45,505
Depreciation
At 1 January 2023 12,184 - 12,184
Charge for year 757 3,475 4,232
At 31 December 2023 12,941 3,475 16,416
Net book value
At 31 December 2023 2,269 26,820 29,089
At 31 December 2022 3,026 - 3,026

Coast Investments (South West) Ltd (Registered number: 08842492)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

5. FIXED ASSET INVESTMENTS
Interest
in other
participatin
interests
£   
Cost
At 1 January 2023
and 31 December 2023 16
Net book value
At 31 December 2023 16
At 31 December 2022 16

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Joint venture

Spion Lodge Development Limited
Registered office: Unit 5c South Hams Business Park, Kingsbridge, Devon. TQ6 3QH
Nature of business: Development of building projects
%
Class of shares: holding
£1 Ordinary 8.00
2023 2022
£    £   
Aggregate capital and reserves 200 200

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,000 2,400
Amounts owed by joint ventures 330,569 330,569
Other debtors 10,763 -
356,332 332,969

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Finance leases 3,107 -
Trade creditors 100 98
Taxation and social security - (1,161 )
Other creditors 414,177 199,252
417,384 198,189

Coast Investments (South West) Ltd (Registered number: 08842492)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Finance leases 17,985 -
Other creditors - 160,522
17,985 160,522

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 438 570

Deferred
tax
£   
Balance at 1 January 2023 570
Provided during year (132 )
Balance at 31 December 2023 438

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

11. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £411,324 to the director, J Valentine and his wife Mrs L Valentine for their joint loan account.

12. ULTIMATE CONTROLLING PARTY

The company is controlled by J Valentine.