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REGISTERED NUMBER: 08538476 (England and Wales)















Coat Martock Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 May 2023






Coat Martock Limited (Registered number: 08538476)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 5


Coat Martock Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: M R D Yates
Mrs N C Yates



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 08538476 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Arbuthnot Latham & Co Private Bankers
Arbuthnot House
7 Wilson Street
London
EC2M 2SN

Coat Martock Limited (Registered number: 08538476)

Abridged Statement of Financial Position
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,508,764 49,719
Investment property 6 - 1,500,000
1,508,764 1,549,719

CURRENT ASSETS
Debtors 31,587 32,661
Cash at bank 30,627 17,936
62,214 50,597
CREDITORS
Amounts falling due within one year 310,453 219,157
NET CURRENT LIABILITIES (248,239 ) (168,560 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,260,525

1,381,159

CREDITORS
Amounts falling due after more than one year 7 (515,360 ) (617,186 )

PROVISIONS FOR LIABILITIES (3,556 ) (104,701 )
NET ASSETS 741,609 659,272

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation Reserve 9 493,441 493,441
Retained earnings 247,168 164,831
SHAREHOLDERS' FUNDS 741,609 659,272

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

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

Coat Martock Limited (Registered number: 08538476)

Abridged Statement of Financial Position - continued
31 May 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 Statement of Financial Position for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

Coat Martock Limited (Registered number: 08538476)

Abridged Statement of Financial Position - continued
31 May 2023



The financial statements were approved by the Board of Directors and authorised for issue on 20 December 2023 and were signed on its behalf by:





M R D Yates - Director


Coat Martock Limited (Registered number: 08538476)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Coat Martock 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and Straight line over 3 years

Freehold investment property
Freehold investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

Coat Martock Limited (Registered number: 08538476)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 103,278
Additions 1,221
Reclassification/transfer 1,500,000
At 31 May 2023 1,604,499
DEPRECIATION
At 1 June 2022 53,559
Charge for year 42,176
At 31 May 2023 95,735
NET BOOK VALUE
At 31 May 2023 1,508,764
At 31 May 2022 49,719

Coat Martock Limited (Registered number: 08538476)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 June 2022
and 31 May 2023 36,367
DEPRECIATION
At 1 June 2022 13,183
Charge for year 5,796
At 31 May 2023 18,979
NET BOOK VALUE
At 31 May 2023 17,388
At 31 May 2022 23,184

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 1,500,000
Reclassification/transfer (1,500,000 )
At 31 May 2023 -
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 1,500,000

As the Company utilises this property as furnished holiday letting accomodation, the property has been reclassified to Freehold Property.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.5.23 31.5.22
£    £   
Repayable by instalments
Bank loans 500,000 600,000

Coat Martock Limited (Registered number: 08538476)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 500,000 600,000
Hire purchase contracts 17,187 19,013
517,187 619,013

The loan is secured by a fixed and floating charge over land held at Coat Martock.

The hire purchase agreement is secured against the asset to which it relates.

9. RESERVES
Revaluation
Reserve
£   
At 1 June 2022
and 31 May 2023 493,441