Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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144,758 | 144,758 | |||
Current assets | ||||
Cash at bank and in hand |
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51,105 | 46,542 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current liabilities | (130,403) | (136,869) | ||
Total assets less current liabilities | 14,355 | 7,889 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 5 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Coastal Investments Ltd (registered number:
William Johann Litherland
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.
Coastal Investments Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, United Kingdom. The principal place of business is 49 Fore Street, Brixham, Devon, TQ5 8AG.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
As the prior year financial statements covered the first financial period from the company's incorporation, the reporting period length was longer than 12 months. Therefore, they are not entirely comparable the the financial statements for this year.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the period, including directors |
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Investments in subsidiaries
2024 | |
£ | |
Cost | |
At 01 April 2023 |
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At 31 March 2024 |
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Carrying value at 31 March 2024 |
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Carrying value at 31 March 2023 |
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2024 | 2023 | ||
£ | £ | ||
Amounts owed to Group undertakings |
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Amounts owed to directors |
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Accruals |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with entities in which the entity itself has a participating interest
2024 | 2023 | ||
£ | £ | ||
Amounts owed to subsidiaries | 10,972 | 8,536 |
Transactions with the entity's directors
2024 | 2023 | ||
£ | £ | ||
Amounts owed to directors | 168,786 | 173,125 |
During the year, dividends were voted totalling £60,000 (2023: £60,000).