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REGISTERED NUMBER: 09202355 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

COATES WOOD LIMITED

COATES WOOD LIMITED (REGISTERED NUMBER: 09202355)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 6


COATES WOOD LIMITED (REGISTERED NUMBER: 09202355)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £   
FIXED ASSETS
Investment property 4 499,919 376,325

CURRENT ASSETS
Debtors 5 2,688 13,550
Cash at bank 38,780 21,950
41,468 35,500
CREDITORS
Amounts falling due within one year 6 (183,180 ) (58,390 )
NET CURRENT LIABILITIES (141,712 ) (22,890 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

358,207

353,435

CREDITORS
Amounts falling due after more than one
year

7

(228,813

)

(231,567

)

PROVISIONS FOR LIABILITIES (13,465 ) (13,465 )
NET ASSETS 115,929 108,403

CAPITAL AND RESERVES
Called up share capital 1,500 1,500
Non distributable reserve 66,823 66,823
Retained earnings 47,606 40,080
115,929 108,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

COATES WOOD LIMITED (REGISTERED NUMBER: 09202355)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 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 23 April 2024 and were signed on its behalf by:





J P Cornes - Director


COATES WOOD LIMITED (REGISTERED NUMBER: 09202355)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

COATES WOOD LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09202355

Registered office: 9 Brindley Court
Lymedale Business Park
Dalewood Road
Newcastle under Lyme
Staffordshire
ST5 9QA

The principal activity of the company was that of a property investment company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Investment properties

The open market value of the investment properties has been determined by the directors, based on their experience of the market.

Revenue recognition
Turnover is rental income derived from the investment property. Income is recognised in the relevant rental period and is exclusive of Value Added Tax.

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

COATES WOOD LIMITED (REGISTERED NUMBER: 09202355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 statement of financial position date.


COATES WOOD LIMITED (REGISTERED NUMBER: 09202355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 3 (2022 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 376,325
Additions 123,594
At 30 September 2023 499,919
NET BOOK VALUE
At 30 September 2023 499,919
At 30 September 2022 376,325

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2019 15,288
Valuation in 2021 45,000
Valuation in 2022 20,000
Cost 419,631
499,919

The directors consider the investment properties are stated at fair value as at 30 September 2023.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 2,060 1,073
Other debtors - 12,050
Prepayments and accrued income 628 427
2,688 13,550

COATES WOOD LIMITED (REGISTERED NUMBER: 09202355)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 2,981 2,649
Trade creditors 302 57
Tax 2,708 916
Other creditors 5,000 5,000
Amounts due to connected
companies 2,126 326
Directors' loan accounts 162,683 42,183
Accruals and deferred income 7,380 7,259
183,180 58,390

Amounts owed to connected companies are unsecured, interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 1-5 Years 14,903 13,243
Bank loans payable more than
5 years by instalments 213,910 218,324
228,813 231,567

Amounts falling due in more than five years:

Repayable by instalments
Bank loans payable more than
5 years by instalments 213,910 218,324
213,910 218,324

The bank loans are secured against the investment properties of the company.

8. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.