IRIS Accounts Production v24.2.0.383 13535416 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh135354162023-03-31135354162024-03-31135354162023-04-012024-03-31135354162022-03-31135354162022-04-012023-03-31135354162023-03-3113535416ns15:EnglandWales2023-04-012024-03-3113535416ns14:PoundSterling2023-04-012024-03-3113535416ns10:Director12023-04-012024-03-3113535416ns10:Director22023-04-012024-03-3113535416ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3113535416ns10:SmallEntities2023-04-012024-03-3113535416ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3113535416ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3113535416ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3113535416ns10:FullAccounts2023-04-012024-03-3113535416ns10:RegisteredOffice2023-04-012024-03-3113535416ns5:CurrentFinancialInstruments2024-03-3113535416ns5:CurrentFinancialInstruments2023-03-3113535416ns5:Non-currentFinancialInstruments2024-03-3113535416ns5:Non-currentFinancialInstruments2023-03-3113535416ns5:ShareCapital2024-03-3113535416ns5:ShareCapital2023-03-3113535416ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3113535416ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3113535416ns5:RetainedEarningsAccumulatedLosses2024-03-3113535416ns5:RetainedEarningsAccumulatedLosses2023-03-3113535416ns5:PlantMachinery2023-04-012024-03-3113535416ns5:PlantMachinery2024-03-3113535416ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3113535416ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3113535416ns5:Secured2024-03-3113535416ns5:Secured2023-03-31
REGISTERED NUMBER: 13535416 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Fresh Development (Coastal) Limited

Fresh Development (Coastal) Limited (Registered number: 13535416)






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


Fresh Development (Coastal) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D Gick
B J A Chamberlain





REGISTERED OFFICE: 1 Manor Court
6 Barnes Wallis Road
Fareham
Hampshire
PO15 5TH





REGISTERED NUMBER: 13535416 (England and Wales)





ACCOUNTANTS: Roches
Chartered Accountants
1 Manor Court
6 Barnes Wallis Road
Segensworth
Fareham
Hampshire
PO15 5TH

Fresh Development (Coastal) Limited (Registered number: 13535416)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,555 -
Investment property 5 1,600,000 1,174,670
1,619,555 1,174,670

CURRENT ASSETS
Debtors 6 2,553 2,311
Cash at bank and in hand 56,905 38,608
59,458 40,919
CREDITORS
Amounts falling due within one year 7 565,594 1,339,745
NET CURRENT LIABILITIES (506,136 ) (1,298,826 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,113,419

(124,156

)

CREDITORS
Amounts falling due after more than one
year

8

(1,002,545

)

-

PROVISIONS FOR LIABILITIES (28,934 ) -
NET ASSETS/(LIABILITIES) 81,940 (124,156 )

CAPITAL AND RESERVES
Called up share capital 3 3
Non- distributable reserve 10 221,203 -
Retained earnings (139,266 ) (124,159 )
SHAREHOLDERS' FUNDS 81,940 (124,156 )

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.

Fresh Development (Coastal) Limited (Registered number: 13535416)

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 7 October 2024 and were signed on its behalf by:




B J A Chamberlain - Director



D Gick - Director


Fresh Development (Coastal) Limited (Registered number: 13535416)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Fresh Development (Coastal) 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 as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

Financial assets & financial liabilities are initially recognised at the transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. However, if the arrangement constitutes a financing transaction then it is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets & financial liabilities classified as receivable within one year are not amortised.

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.

Fresh Development (Coastal) Limited (Registered number: 13535416)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 26,028
At 31 March 2024 26,028
DEPRECIATION
Charge for year 6,473
At 31 March 2024 6,473
NET BOOK VALUE
At 31 March 2024 19,555

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,174,670
Additions 175,193
Revaluations 250,137
At 31 March 2024 1,600,000
NET BOOK VALUE
At 31 March 2024 1,600,000
At 31 March 2023 1,174,670

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 250,137
Cost 1,349,863
1,600,000

The directors have used the valuation obtained for mortgage purposes in October 2023 as a basis for the fair value of the property at the year end.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 2,553 2,311

Fresh Development (Coastal) Limited (Registered number: 13535416)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts owed to associates 534,058 1,338,745
Other creditors 31,536 1,000
565,594 1,339,745

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 1,002,545 -

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 1,002,545 -
Amounts owed to associates 535,222 1,338,745
1,537,767 1,338,745

The amount owed to BMS Motor Group Ltd is secured by a charge over the investment property.

The amount owed to the bank is secured by a charge over the investment property.

10. RESERVES
Non-
distributable
reserve
£   
Fair value adjustment 221,203

At 31 March 2024 221,203