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REGISTERED NUMBER: 02746051 (England and Wales)















COASTAL DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






COASTAL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02746051)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COASTAL DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A W Leggatt
S C Leggatt





SECRETARY: Mrs I L Leggatt





REGISTERED OFFICE: 424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ





REGISTERED NUMBER: 02746051 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

COASTAL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02746051)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 173,785 173,859

CURRENT ASSETS
Stocks 3,587,233 7,508,975
Debtors 5 3,991,554 735
Cash at bank 1,262,510 1,399,382
8,841,297 8,909,092
CREDITORS
Amounts falling due within one year 6 1,603,308 1,522,731
NET CURRENT ASSETS 7,237,989 7,386,361
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,411,774

7,560,220

CREDITORS
Amounts falling due after more than one
year

7

4,637,500

4,837,500
NET ASSETS 2,774,274 2,722,720

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,774,174 2,722,620
SHAREHOLDERS' FUNDS 2,774,274 2,722,720

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02746051)

BALANCE SHEET - continued
31 MARCH 2024


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 28 May 2024 and were signed on its behalf by:





A W Leggatt - Director


COASTAL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02746051)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Coastal Developments 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 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.
Freehold property - not provided
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

COASTAL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02746051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 173,570 2,000 6,000 2,865 184,435
DEPRECIATION
At 1 April 2023 - 1,968 5,894 2,714 10,576
Charge for year - 8 27 39 74
At 31 March 2024 - 1,976 5,921 2,753 10,650
NET BOOK VALUE
At 31 March 2024 173,570 24 79 112 173,785
At 31 March 2023 173,570 32 106 151 173,859

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Sundry debtors 735 735
A.W.L Holdings Limited 3,990,819 -
3,991,554 735

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Coastal Construction (SE) Ltd 426,722 420,222
Corporation Tax 23,427 39,280
Social security and other taxes 419 543
Sundry creditors 66,950 32,800
Rent deposits held 59,402 175,252
Coastal Dev. Greenhill Ltd 826,769 792,269
Directors' current accounts 196,120 58,866
Accrued expenses 3,499 3,499
1,603,308 1,522,731

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans more 5 yrs non-inst 4,637,500 4,837,500

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 4,637,500 4,837,500

COASTAL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02746051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 4,637,500 4,837,500

The bank loan is secured against the freehold property held by the company as stock, as at the balance sheet date.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A W Leggatt.