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REGISTERED NUMBER: SC163345 (Scotland)
















Financial Statements

for the Year Ended 30 April 2024

for

Coastline Adhesive Tapes Limited

Coastline Adhesive Tapes Limited (Registered number: SC163345)






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 Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr G Mathieson
Mr C Mathieson
Mrs F C W Greig
Mr R Wilson





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





REGISTERED NUMBER: SC163345 (Scotland)





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

Coastline Adhesive Tapes Limited (Registered number: SC163345)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 205,376 115,555

CURRENT ASSETS
Stocks 131,668 159,398
Debtors 5 912,589 1,491,947
Cash at bank 417,781 453,717
1,462,038 2,105,062
CREDITORS
Amounts falling due within one year 6 516,832 1,152,141
NET CURRENT ASSETS 945,206 952,921
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,150,582

1,068,476

CREDITORS
Amounts falling due after more than one
year

7

(97,071

)

(41,208

)

PROVISIONS FOR LIABILITIES (39,700 ) (16,501 )
NET ASSETS 1,013,811 1,010,767

CAPITAL AND RESERVES
Called up share capital 9,200 9,200
Capital redemption reserve 800 800
Retained earnings 1,003,811 1,000,767
SHAREHOLDERS' FUNDS 1,013,811 1,010,767

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 Limited (Registered number: SC163345)

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 & 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 R Wilson - Director


Coastline Adhesive Tapes Limited (Registered number: SC163345)

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

1. STATUTORY INFORMATION

Coastline Adhesive Tapes 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 availability of resources and the matters referred to below 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.

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 other wholly owned subsidiaries within the group and its ultimate holding company Coastline Adhesive Tapes (2008) Limited.

Turnover/revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the company's activities are met.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - in accordance with the property
Plant and machinery - 15% on cost
Motor vehicles - 25% on reducing balance

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 Limited (Registered number: SC163345)

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

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal.

Where stock has not moved for a period of greater than one year the company will make a provision on these specific lines based on 50% of the original cost.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & 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.

Coastline Adhesive Tapes Limited (Registered number: SC163345)

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

2. 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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight line basis over the terms of the lease.

Pension costs and other post-retirement benefits
The company operates a money purchase pension scheme in the form of employee personal pension plans. The contracts are between the individual and the pension provider and all funds are held externally by a third party pension provider. Pension contributions are charged to the profit and loss account in the period to which they relate.

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 11 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 20,984 135,574 186,718 2,330 345,606
Additions - - 200,559 1,996 202,555
Disposals - - (159,498 ) - (159,498 )
At 30 April 2024 20,984 135,574 227,779 4,326 388,663
DEPRECIATION
At 1 May 2023 12,099 98,470 119,377 105 230,051
Charge for year 888 7,420 39,451 771 48,530
Eliminated on disposal - - (95,294 ) - (95,294 )
At 30 April 2024 12,987 105,890 63,534 876 183,287
NET BOOK VALUE
At 30 April 2024 7,997 29,684 164,245 3,450 205,376
At 30 April 2023 8,885 37,104 67,341 2,225 115,555

Coastline Adhesive Tapes Limited (Registered number: SC163345)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 159,499
Additions 200,559
Disposals (159,498 )
At 30 April 2024 200,560
DEPRECIATION
At 1 May 2023 93,933
Charge for year 39,007
Eliminated on disposal (95,294 )
At 30 April 2024 37,646
NET BOOK VALUE
At 30 April 2024 162,914
At 30 April 2023 65,566

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 601,246 728,705
Amounts owed by group undertakings 305,992 725,695
Other debtors 5,351 37,547
912,589 1,491,947

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 34,515 13,052
Trade creditors 360,336 424,388
Amounts owed to group undertakings 842 551,540
Taxation and social security 92,915 137,282
Other creditors 18,224 15,879
516,832 1,152,141

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 20,000 30,000
Hire purchase contracts (see note 8) 77,071 11,208
97,071 41,208

Coastline Adhesive Tapes Limited (Registered number: SC163345)

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

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 34,515 13,052
Between one and five years 77,071 11,208
111,586 24,260

Non-cancellable operating leases
2024 2023
£    £   
Within one year 31,800 27,676
Between one and five years 115,416 106,722
In more than five years 12,000 36,000
159,216 170,398

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 111,586 24,260

Hire purchase liabilities are secured over the assets being financed.

The bounce back loan is secured and repayable by 60 equal monthly instalments one year after draw down.

10. ULTIMATE CONTROLLING PARTY

The company is under the control of Mr R Wilson, Mr G Mathieson and Mr C Mathieson who together, directly or indirectly, own 100% of the issued share capital of the ultimate parent company, Coastline Adhesive Tapes (2008) Limited.