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COASTAL GREY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2023 TO 30 JUNE 2024






COASTAL GREY LTD (REGISTERED NUMBER: 11418926)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COASTAL GREY LTD

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2023 TO 30 JUNE 2024







DIRECTORS: B Coutts
Mrs K R Coutts





REGISTERED OFFICE: Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY





REGISTERED NUMBER: 11418926 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

COASTAL GREY LTD (REGISTERED NUMBER: 11418926)

BALANCE SHEET
30 JUNE 2024

30.6.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 - 55,386
- 55,386

CURRENT ASSETS
Debtors 7 2,386 71,907
Cash at bank and in hand 37,697 21,957
40,083 93,864
CREDITORS
Amounts falling due within one year 8 16,141 108,044
NET CURRENT ASSETS/(LIABILITIES) 23,942 (14,180 )
TOTAL ASSETS LESS CURRENT LIABILITIES 23,942 41,206

CREDITORS
Amounts falling due after more than one
year

9

-

(14,697

)

PROVISIONS FOR LIABILITIES 10 - (4,334 )
NET ASSETS 23,942 22,175

CAPITAL AND RESERVES
Called up share capital 11 102 102
Retained earnings 23,840 22,073
SHAREHOLDERS' FUNDS 23,942 22,175

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

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

COASTAL GREY LTD (REGISTERED NUMBER: 11418926)

BALANCE SHEET - continued
30 JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 May 2024 and were signed on its behalf by:




B Coutts - Director



Mrs K R Coutts - Director


COASTAL GREY LTD (REGISTERED NUMBER: 11418926)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 30 JUNE 2024


1. STATUTORY INFORMATION

Coastal Grey Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of Income and Retained Earnings over the estimated expected useful life of the asset concerned.

Other grants are credited to the Statement of Income and Retained Earnings either when received or, if appropriate, on a performance basis when the relevant expenditure is incurred or any specific qualifying obligations completed.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


COASTAL GREY LTD (REGISTERED NUMBER: 11418926)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 JUNE 2024


3. ACCOUNTING POLICIES - continued
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 period 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.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 3 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023 17,445
Disposals (17,445 )
At 30 June 2024 -
AMORTISATION
At 1 April 2023 17,445
Eliminated on disposal (17,445 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 31 March 2023 -

COASTAL GREY LTD (REGISTERED NUMBER: 11418926)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 JUNE 2024


6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 65,166 1,464 42,553 1,797 110,980
Additions 5,661 - - - 5,661
Disposals (70,827 ) (1,464 ) (42,553 ) (1,797 ) (116,641 )
At 30 June 2024 - - - - -
DEPRECIATION
At 1 April 2023 37,887 520 16,125 1,062 55,594
Charge for period 1,965 36 1,652 124 3,777
Eliminated on disposal (39,852 ) (556 ) (17,777 ) (1,186 ) (59,371 )
At 30 June 2024 - - - - -
NET BOOK VALUE
At 30 June 2024 - - - - -
At 31 March 2023 27,279 944 26,428 735 55,386

The net book value of tangible fixed assets includes £ (1) (2023 - £ 8,951 ) in respect of assets held under hire purchase contracts.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 31.3.23
£    £   
Trade debtors - 70,118
VAT 2,386 -
Prepayments - 1,789
2,386 71,907

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 31.3.23
£    £   
Bank loans and overdrafts - 5,000
Hire purchase contracts - 4,473
Trade creditors - 1,287
Tax 16,161 -
Social security and other taxes (56 ) (363 )
VAT - 14,213
Other creditors - 10,640
Directors' current accounts - 63
Deferred income - 71,145
Accrued expenses 36 1,586
16,141 108,044

COASTAL GREY LTD (REGISTERED NUMBER: 11418926)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 JUNE 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Loans from directors are interest free and repayable on demand.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 31.3.23
£    £   
Bank loans - 1-2 years - 5,000
Bank loans - 2-5 years - 6,251
Hire purchase contracts - 3,446
- 14,697

10. PROVISIONS FOR LIABILITIES
30.6.24 31.3.23
£    £   
Deferred tax - 4,334

Deferred
tax
£   
Balance at 1 April 2023 4,334
Accelerated capital allowances (4,334 )
Balance at 30 June 2024 -

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 31.3.23
value: £    £   
100 Ordinary 1 100 100
1 Ordinary A 1 1 1
1 Ordinary B 1 1 1
102 102

12. ULTIMATE CONTROLLING PARTY

The directors are the ultimate controlling party.