Company registration number 13523812 (England and Wales)
COAST 2 COAST CONSULTANTS LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
COAST 2 COAST CONSULTANTS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
COAST 2 COAST CONSULTANTS LIMITED
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 1 -
31 May 2023
31 July 2022
Notes
£
£
£
£
Current assets
Debtors
3
7,687
5,101
Cash at bank and in hand
12,711
30,472
20,398
35,573
Creditors: amounts falling due within one year
4
(53,064)
(50,138)
Net current liabilities
(32,666)
(14,565)
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(32,766)
(14,665)
Total equity
(32,666)
(14,565)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 6 February 2024 and are signed on its behalf by:
Mrs N R Walton
Director
Company registration number 13523812 (England and Wales)
COAST 2 COAST CONSULTANTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MAY 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 22 July 2021
-
0
-
0
-
Period ended 31 July 2022:
Loss and total comprehensive income
-
(14,665)
(14,665)
Issue of share capital
5
100
-
100
Balance at 31 July 2022
100
(14,665)
(14,565)
Period ended 31 May 2023:
Loss and total comprehensive income
-
(18,101)
(18,101)
Balance at 31 May 2023
100
(32,766)
(32,666)
COAST 2 COAST CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023
- 3 -
1
Accounting policies
Company information

Coast 2 Coast Consultants Limited is a private company limited by shares incorporated in England and Wales. The registered office is Office 2, Barclays Bank Chambers, 1 Maryport Street, Usk, Monmouthsire, United Kingdom, NP15 1AB.

1.1
Reporting period

The reporting period covered by these financial statements is 10 months. The reporting period changed for commercial reasons.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

COAST 2 COAST CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
1
1
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
120
2,040
Amounts owed by group undertakings
100
-
0
Other debtors
180
20
400
2,060
COAST 2 COAST CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2023
3
Debtors
(Continued)
- 5 -
2023
2022
Amounts falling due after more than one year:
£
£
Deferred tax asset
7,287
3,041
Total debtors
7,687
5,101
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
30
764
Amounts owed to group undertakings
50,241
45,381
Taxation and social security
1,593
2,893
Accruals and deferred income
1,200
1,100
53,064
50,138
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
6
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Directors
-
20
(20)
-
20
(20)
-
7
Parent company

The parent company is Coast 2 Coast Holdings Ltd, whose registered office address is 7 Moorlands Road, Bridgend, United Kingdom, CF31 3DR.

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