IRIS Accounts Production v23.3.1.45 06325051 Board of Directors Board of Directors 1.11.22 31.10.23 31.10.23 true false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh063250512022-10-31063250512023-10-31063250512022-11-012023-10-31063250512021-10-31063250512021-11-012022-10-31063250512022-10-3106325051ns10:Originalns15:EnglandWales2022-11-012023-10-3106325051ns14:PoundSterlingns10:Original2022-11-012023-10-3106325051ns10:Originalns10:Director12022-11-012023-10-3106325051ns10:Original2022-11-012023-10-3106325051ns10:Originalns10:Director22022-11-012023-10-3106325051ns10:Original2023-10-3106325051ns10:Originalns10:PrivateLimitedCompanyLtd2022-11-012023-10-3106325051ns10:Originalns10:SmallEntities2022-11-012023-10-3106325051ns10:Originalns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3106325051ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3106325051ns10:SmallCompaniesRegimeForAccountsns10:Original2022-11-012023-10-3106325051ns10:Originalns10:AbridgedAccounts2022-11-012023-10-3106325051ns10:Original12022-11-012023-10-3106325051ns10:Originalns10:OrdinaryShareClass12022-11-012023-10-3106325051ns10:CompanySecretary1ns10:Original2022-11-012023-10-3106325051ns10:Originalns10:RegisteredOffice2022-11-012023-10-3106325051ns10:Original2022-10-3106325051ns10:Originalns5:CurrentFinancialInstruments2023-10-3106325051ns10:Originalns5:CurrentFinancialInstruments2022-10-3106325051ns10:Originalns5:Non-currentFinancialInstruments2023-10-3106325051ns10:Originalns5:Non-currentFinancialInstruments2022-10-3106325051ns5:ShareCapitalns10:Original2023-10-3106325051ns5:ShareCapitalns10:Original2022-10-3106325051ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2023-10-3106325051ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2022-10-3106325051ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-10-3106325051ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-10-3106325051ns10:Originalns5:NetGoodwill2022-11-012023-10-3106325051ns10:Originalns5:PlantMachinery2022-11-012023-10-3106325051ns10:Originalns5:MotorVehicles2022-11-012023-10-3106325051ns10:Original2021-11-012022-10-3106325051ns10:Original2022-10-3106325051ns5:Securedns10:Original2023-10-3106325051ns5:Securedns10:Original2022-10-3106325051ns10:Originalns10:OrdinaryShareClass12023-10-31
REGISTERED NUMBER: 06325051 (England and Wales)















ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2023

FOR

COASTAL RESORTS LIMITED

COASTAL RESORTS LIMITED (REGISTERED NUMBER: 06325051)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


COASTAL RESORTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTORS: Mr Henry Bailey Farr
Mrs Rebecca Grace Maria Farr



SECRETARY: Mrs Rebecca Grace Maria Farr



REGISTERED OFFICE: Manorbier Country Park
Station Road
Manorbier
Tenby
Pembrokeshire
SA70 7SN



REGISTERED NUMBER: 06325051 (England and Wales)



ACCOUNTANTS: R Pau & Co Limited
Chartered Certified Accountants
12-16 Station Street East
Coventry
West Midlands
CV6 5FJ



BANKERS: HSBC Bank Plc
46 Fore Street
Trowbridge
Wiltshire
BA14 8EL

COASTAL RESORTS LIMITED (REGISTERED NUMBER: 06325051)

ABRIDGED BALANCE SHEET
31ST OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 166,350 199,400
Tangible assets 5 7,449,211 7,481,177
7,615,561 7,680,577

CURRENT ASSETS
Stocks 588,572 233,398
Debtors 239,319 251,967
Cash at bank and in hand 1,505,664 1,467,640
2,333,555 1,953,005
CREDITORS
Amounts falling due within one year 1,418,594 1,126,347
NET CURRENT ASSETS 914,961 826,658
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,530,522

8,507,235

CREDITORS
Amounts falling due after more than one
year

(1,290,992

)

(1,659,099

)

PROVISIONS FOR LIABILITIES (32,146 ) (35,474 )
NET ASSETS 7,207,384 6,812,662

CAPITAL AND RESERVES
Called up share capital 7 100 100
Non-distributable reserve 1,038,642 1,038,642
Retained earnings 6,168,642 5,773,920
SHAREHOLDERS' FUNDS 7,207,384 6,812,662

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

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

COASTAL RESORTS LIMITED (REGISTERED NUMBER: 06325051)

ABRIDGED BALANCE SHEET - continued
31ST OCTOBER 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 6th February 2024 and were signed on its behalf by:




Mr Henry Bailey Farr - Director



Mrs Rebecca Grace Maria Farr - Director


COASTAL RESORTS LIMITED (REGISTERED NUMBER: 06325051)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023


1. STATUTORY INFORMATION

Coastal Resorts Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office 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 represents the net invoiced value of caravan sales, site fees and other associated income, excluding value added tax.

Turnover from the sale of goods on site, the sale of caravans and site fees is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. For site shop sales and caravans this is usually on the date of dispatch of the goods.

For site fees, recognition occurs when the site is occupied. Fees received on booking in advance of the holiday are carried forward in creditors as deferred income.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of the following:


£

Manorbier Holiday Park 9,900
Country Park 585,000
Bailey's Take Away 11,000
£605,900

Goodwill, being the amount paid in connection with the acquisition of the above is being written off evenly over it's useful economic life of 20 years.

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 equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


COASTAL RESORTS LIMITED (REGISTERED NUMBER: 06325051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


2. ACCOUNTING POLICIES - continued
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 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.

LOANS AND BORROWINGS
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

DEBTORS AND CREDITORS RECEIVABLE / PAYABLE WITHIN ONE YEAR
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 23 ) .

COASTAL RESORTS LIMITED (REGISTERED NUMBER: 06325051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st November 2022
and 31st October 2023 605,900
AMORTISATION
At 1st November 2022 406,500
Amortisation for year 33,050
At 31st October 2023 439,550
NET BOOK VALUE

At 31st October 2023 166,350
At 31st October 2022 199,400

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st November 2022 8,129,115
Additions 55,323
At 31st October 2023 8,184,438
DEPRECIATION
At 1st November 2022 647,938
Charge for year 87,289
At 31st October 2023 735,227
NET BOOK VALUE
At 31st October 2023 7,449,211
At 31st October 2022 7,481,177

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,563,724 1,841,030

COASTAL RESORTS LIMITED (REGISTERED NUMBER: 06325051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


7. CALLED UP SHARE CAPITAL

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