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REGISTERED NUMBER: SC351089 (Scotland)
















Financial Statements

for the Year Ended 30 April 2024

for

Coastline Adhesive Tapes (2008) Limited

Coastline Adhesive Tapes (2008) Limited (Registered number: SC351089)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Coastline Adhesive Tapes (2008) Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr G Mathieson
Mr C Mathieson
Mr R Wilson





REGISTERED OFFICE: 8 Skye Road
Shaw Farm Industrial Estate
Prestwick
Ayrshire
KA9 2TA





REGISTERED NUMBER: SC351089 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
KA9 2PB

Coastline Adhesive Tapes (2008) Limited (Registered number: SC351089)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 61,941
Tangible assets 5 330,336 337,662
Investments 6 2,255,676 2,255,676
2,586,012 2,655,279

CURRENT ASSETS
Debtors 7 375,732 1,173,540
Cash at bank 52,037 60,235
427,769 1,233,775
CREDITORS
Amounts falling due within one year 8 550,213 1,515,560
NET CURRENT LIABILITIES (122,444 ) (281,785 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,463,568

2,373,494

CREDITORS
Amounts falling due after more than one
year

9

384,360

506,856
NET ASSETS 2,079,208 1,866,638

CAPITAL AND RESERVES
Called up share capital 99 99
Retained earnings 2,079,109 1,866,539
SHAREHOLDERS' FUNDS 2,079,208 1,866,638

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Coastline Adhesive Tapes (2008) Limited (Registered number: SC351089)

Balance Sheet - continued
30 April 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:




Mr G Mathieson - Director



Mr R Wilson - Director


Coastline Adhesive Tapes (2008) Limited (Registered number: SC351089)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Coastline Adhesive Tapes (2008) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
After reviewing the company's current trading performance, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Coastline Adhesive Tapes (2008) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Goodwill
Goodwill arising on an acquisition of a trade is the difference between the fair value of the consideration paid and the fair value of the assets and liabilities acquired. Positive goodwill is capitalised and amortised through the profit and loss account over the director's estimate of its useful economic life which is 5 years. Impairment tests on the carrying value of goodwill are undertaken;

- at the end of the first full financial year following acquisition;
- in other period if events or changes in circumstances indicate that the carrying value may not be recoverable.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land & buildings - 2% on cost

Tangible fixed assets are stated at cost less depreciation.

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Coastline Adhesive Tapes (2008) Limited (Registered number: SC351089)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Cost is equivalent to the value paid, less that part of the price attributed to Goodwill which is recorded separately and amortised over its effective useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality. The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Coastline Adhesive Tapes (2008) Limited (Registered number: SC351089)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 703,131
AMORTISATION
At 1 May 2023 641,190
Charge for year 61,941
At 30 April 2024 703,131
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 61,941

5. TANGIBLE FIXED ASSETS
Freehold
land &
buildings
£   
COST
At 1 May 2023
and 30 April 2024 366,293
DEPRECIATION
At 1 May 2023 28,631
Charge for year 7,326
At 30 April 2024 35,957
NET BOOK VALUE
At 30 April 2024 330,336
At 30 April 2023 337,662

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 2,255,676
NET BOOK VALUE
At 30 April 2024 2,255,676
At 30 April 2023 2,255,676

Coastline Adhesive Tapes (2008) Limited (Registered number: SC351089)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Name of Company Class of shares Holding

Coastline Adhesive Tapes (Holdings) Limited Ordinary 100%

Coastline Adhesive Tapes Limited Ordinary 100%

I B S (Tapes) (Holdings) Limited Ordinary 100%

I B S (Tapes) Limited Ordinary 100%

Coastline Engineered Solutions Limited Ordinary 100%

Coastline Adhesive Tapes Limited is a wholly owned subsidiary of Coastline Adhesive Tapes (Holdings)
Limited.

I B S (Tapes) Limited is a wholly owned subsidiary of I B S (Tapes) (Holdings) Limited.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 375,732 1,173,540

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 414,555 1,308,152
Taxation and social security 574 -
Other creditors 135,084 207,408
550,213 1,515,560

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 384,360 506,856

Amounts falling due in more than five years:

Repayable by instalments
Loan notes/deferred
consideration due > 5 years - 69,372
- 69,372

Coastline Adhesive Tapes (2008) Limited (Registered number: SC351089)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Loan notes 3,333 43,333
Deferred consideration - 39,189
3,333 82,522

Interest is charged at a rate equal to the Bank of England base rate on the principal amount of the loan notes outstanding.

11. ULTIMATE CONTROLLING PARTY

The company is under the joint control of the directors by virtue of their 100% shareholding in the company.