Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-2915No description of principal activity2023-03-01false25falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11632386 2023-03-01 2024-02-29 11632386 2022-03-01 2023-02-28 11632386 2024-02-29 11632386 2023-02-28 11632386 c:Director1 2023-03-01 2024-02-29 11632386 d:Buildings 2023-03-01 2024-02-29 11632386 d:Buildings 2024-02-29 11632386 d:Buildings 2023-02-28 11632386 d:Buildings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 11632386 d:Buildings d:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 11632386 d:PlantMachinery 2023-03-01 2024-02-29 11632386 d:PlantMachinery 2024-02-29 11632386 d:PlantMachinery 2023-02-28 11632386 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 11632386 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 11632386 d:MotorVehicles 2023-03-01 2024-02-29 11632386 d:MotorVehicles 2024-02-29 11632386 d:MotorVehicles 2023-02-28 11632386 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 11632386 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 11632386 d:OfficeEquipment 2023-03-01 2024-02-29 11632386 d:OfficeEquipment 2024-02-29 11632386 d:OfficeEquipment 2023-02-28 11632386 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 11632386 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 11632386 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 11632386 d:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 11632386 d:CurrentFinancialInstruments 2024-02-29 11632386 d:CurrentFinancialInstruments 2023-02-28 11632386 d:Non-currentFinancialInstruments 2024-02-29 11632386 d:Non-currentFinancialInstruments 2023-02-28 11632386 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 11632386 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11632386 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 11632386 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 11632386 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 11632386 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 11632386 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 11632386 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 11632386 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-02-29 11632386 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 11632386 d:ShareCapital 2024-02-29 11632386 d:ShareCapital 2023-02-28 11632386 d:CapitalRedemptionReserve 2024-02-29 11632386 d:CapitalRedemptionReserve 2023-02-28 11632386 d:RetainedEarningsAccumulatedLosses 2024-02-29 11632386 d:RetainedEarningsAccumulatedLosses 2023-02-28 11632386 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 11632386 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 11632386 d:RetirementBenefitObligationsDeferredTax 2024-02-29 11632386 d:RetirementBenefitObligationsDeferredTax 2023-02-28 11632386 c:OrdinaryShareClass1 2023-03-01 2024-02-29 11632386 c:OrdinaryShareClass1 2024-02-29 11632386 c:OrdinaryShareClass1 2023-02-28 11632386 c:OrdinaryShareClass2 2023-03-01 2024-02-29 11632386 c:OrdinaryShareClass2 2024-02-29 11632386 c:OrdinaryShareClass2 2023-02-28 11632386 c:FRS102 2023-03-01 2024-02-29 11632386 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11632386 c:FullAccounts 2023-03-01 2024-02-29 11632386 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11632386 d:HirePurchaseContracts d:WithinOneYear 2024-02-29 11632386 d:HirePurchaseContracts d:WithinOneYear 2023-02-28 11632386 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-02-29 11632386 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-02-28 11632386 2 2023-03-01 2024-02-29 11632386 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-02-29 11632386 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-02-28 11632386 d:LeasedAssetsHeldAsLessee 2024-02-29 11632386 d:LeasedAssetsHeldAsLessee 2023-02-28 11632386 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11632386










CAMBRIAN COAST LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
CAMBRIAN COAST LIMITED
REGISTERED NUMBER: 11632386

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
4,900,725
4,909,027

  
4,900,725
4,909,027

Current assets
  

Stocks
  
228,394
403,323

Debtors: amounts falling due within one year
 6 
55,315
38,460

Cash at bank and in hand
 7 
2,137
2,567

  
285,846
444,350

Creditors: amounts falling due within one year
 8 
(2,207,527)
(826,738)

Net current liabilities
  
 
 
(1,921,681)
 
 
(382,388)

Total assets less current liabilities
  
2,979,044
4,526,639

Creditors: amounts falling due after more than one year
 9 
(37,500)
(1,717,972)

Provisions for liabilities
  

Deferred tax
 12 
(94,782)
(94,880)

  
 
 
(94,782)
 
 
(94,880)

Net assets
  
2,846,762
2,713,787


Capital and reserves
  

Called up share capital 
 13 
1,689,000
1,689,000

Capital redemption reserve
  
411,000
411,000

Profit and loss account
  
746,762
613,787

  
2,846,762
2,713,787


Page 1

 
CAMBRIAN COAST LIMITED
REGISTERED NUMBER: 11632386
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 September 2024.




Michelle South
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
CAMBRIAN COAST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Cambrian Coast Limited, 11632386, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Cambrian Coast Caravan Park, Ynyslas, Borth, SY24 5JU.
The principal activity of the Company continues to be caravan sales and operating a caravan park.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
CAMBRIAN COAST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
CAMBRIAN COAST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
No depreciation
Plant and machinery
-
10 - 25%
Motor vehicles
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

The director believes the residual value of the freehold property is similar to that of the cost and therefore no depreciation is applied.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
CAMBRIAN COAST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. 


4.


Employees

The average monthly number of employees, including directors, during the year was 25 (2023 - 15).

Page 6

 
CAMBRIAN COAST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 March 2023
4,736,729
158,640
118,464
57,307
5,071,140


Additions
27,324
31,402
-
1,558
60,284


Disposals
-
(46,426)
-
-
(46,426)



At 29 February 2024

4,764,053
143,616
118,464
58,865
5,084,998



Depreciation


At 1 March 2023
-
85,098
53,521
23,495
162,114


Charge for the year on owned assets
-
18,261
2,675
8,704
29,640


Charge for the year on financed assets
-
-
13,561
-
13,561


Disposals
-
(21,042)
-
-
(21,042)



At 29 February 2024

-
82,317
69,757
32,199
184,273



Net book value



At 29 February 2024
4,764,053
61,299
48,707
26,666
4,900,725



At 28 February 2023
4,736,729
73,543
64,943
33,812
4,909,027

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


29 February
28 February
2024
2023
£
£



Motor vehicles
40,682
54,243

40,682
54,243

Page 7

 
CAMBRIAN COAST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
4,576
18,541

Other debtors
13,000
12,000

Prepayments and accrued income
37,739
7,919

55,315
38,460



7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
2,137
2,567

Less: bank overdrafts
(33,486)
(4,904)

(31,349)
(2,337)


Page 8

 
CAMBRIAN COAST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank overdrafts
33,486
4,904

Bank loans
1,649,335
151,061

Payments received on account
160,145
158,660

Trade creditors
113,371
282,188

Other taxation and social security
106,365
72,312

Obligations under finance lease and hire purchase contracts
44,909
9,334

Other creditors
80,669
82,954

Accruals and deferred income
19,247
65,325

2,207,527
826,738


The amount of £30,000 (2023: £30,000) included in creditors due within one year is subject to a UK Government guarantee. The facility is provided through the Coronavirus Business Interruption Loan Scheme (CBILS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The CBILS guarantee is provided to the lender.

The following liabilities were secured:

29 February
28 February
2024
2023
£
£



Bank loans
1,619,335
121,061

Hire purchase contracts
44,909
9,334

Bank overdrafts
33,486
4,904

1,697,730
135,299

Details of security provided:

Hire purchase liabilities are secured upon the assets to which they relate.
The bank loans and overdrafts are secured upon the assets of the Company.

Page 9

 
CAMBRIAN COAST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
37,500
1,673,063

Net obligations under finance leases and hire purchase contracts
-
44,909

37,500
1,717,972


The amount of £37,500 (2023: £67,500) included in creditors due more than one year is subject to a UK Government guarantee. The facility is provided through the Coronavirus Business Interruption Loan Scheme (CBILS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The CBILS guarantee is provided to the lender.

The following liabilities were secured:

29 February
28 February
2024
2023
£
£



Bank loans
-
1,605,563

Hire purchase contracts
-
44,909

-
1,650,472

Details of security provided:

Hire purchase liabilities are secured upon the assets to which they relate.
The bank loans and overdrafts are secured upon the assets of the Company.

Page 10

 
CAMBRIAN COAST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
1,649,335
151,061


1,649,335
151,061

Amounts falling due 1-2 years

Bank loans
30,000
154,950


30,000
154,950

Amounts falling due 2-5 years

Bank loans
7,500
432,887


7,500
432,887

Amounts falling due after more than 5 years

Bank loans
-
1,085,226

-
1,085,226

1,686,835
1,824,124



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

29 February
28 February
2024
2023
£
£


Within one year
44,909
9,334

Between 1-5 years
-
44,909

44,909
54,243

Page 11

 
CAMBRIAN COAST LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

12.


Deferred taxation






2024


£






At beginning of year
94,880


Charged to profit or loss
(98)



At end of year
94,782

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
94,928
95,026

Pension contributions
(146)
(146)

94,782
94,880


13.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



850,000 (2023 - 850,000) Ordinary shares of £1.00 each
850,000
850,000
839,000 (2023 - 839,000) B Ordinary shares of £1.00 each
839,000
839,000

1,689,000

1,689,000



14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £7,203 (2023: £6,938). Contributions totaling £1,554 (2023: £1,550) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 12