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Company No: 11280559 (England and Wales)

COASTPOINT LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

COASTPOINT LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

COASTPOINT LIMITED

BALANCE SHEET

As at 31 December 2023
COASTPOINT LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 8,001,000 8,001,000
8,001,000 8,001,000
Creditors: amounts falling due within one year 4 ( 2,428,732) ( 2,400,000)
Net current liabilities (2,428,732) (2,400,000)
Total assets less current liabilities 5,572,268 5,601,000
Creditors: amounts falling due after more than one year 5 ( 4,764,200) ( 4,788,800)
Net assets 808,068 812,200
Capital and reserves
Called-up share capital 6 1,000 1,000
Capital redemption reserve 835,800 811,200
Profit and loss account ( 28,732 ) 0
Total shareholders' funds 808,068 812,200

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of CoastPoint Limited (registered number: 11280559) were approved and authorised for issue by the Board of Directors on 24 September 2024. They were signed on its behalf by:

Mr R D High
Director
COASTPOINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
COASTPOINT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

CoastPoint Limited (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 C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principle place of business is Marquis House, Gulworthy Tavistock, Devon, PL19 8JE, United Kingdom

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 £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 8,001,000
At 31 December 2023 8,001,000
Carrying value at 31 December 2023 8,001,000
Carrying value at 31 December 2022 8,001,000

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Group undertakings 802,853 478,035
Other creditors 1,625,879 1,921,965
2,428,732 2,400,000

5. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 4,764,200 4,788,800

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000
5,164,200 Preference shares of £ 1.00 each (2022: 5,188,800 shares of £ 1.00 each) 5,164,200 5,188,800
5,165,200 5,189,800