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Registered number: 14759919
Coastal Stoves Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
MMS Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14759919
2024
Notes £ £
FIXED ASSETS
Intangible Assets 4 7,721
Tangible Assets 5 3,241
10,962
CURRENT ASSETS
Debtors 6 14,743
Cash at bank and in hand 854
15,597
Creditors: Amounts Falling Due Within One Year 7 (59,159 )
NET CURRENT ASSETS (LIABILITIES) (43,562 )
TOTAL ASSETS LESS CURRENT LIABILITIES (32,600 )
NET LIABILITIES (32,600 )
CAPITAL AND RESERVES
Called up share capital 8 1
Profit and Loss Account (32,601 )
SHAREHOLDERS' FUNDS (32,600)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Samantha Sanders
Director
29/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Coastal Stoves Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14759919 . The registered office is 5 Knott Gardens, Chichester, PO19 3FE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10% Straight Line
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3
3
4. Intangible Assets
Goodwill
£
Cost
As at 27 March 2023 -
Additions 8,500
As at 31 March 2024 8,500
Amortisation
As at 27 March 2023 -
Provided during the period 779
As at 31 March 2024 779
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 7,721
As at 27 March 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 27 March 2023 2,824 - - 211 3,035
Additions - 517 407 - 924
As at 31 March 2024 2,824 517 407 211 3,959
Depreciation
As at 27 March 2023 529 - - 48 577
Provided during the period - 65 76 - 141
As at 31 March 2024 529 65 76 48 718
Net Book Value
As at 31 March 2024 2,295 452 331 163 3,241
As at 27 March 2023 2,295 - - 163 2,458
6. Debtors
2024
£
Due within one year
Trade debtors 7,044
Other debtors 7,699
14,743
7. Creditors: Amounts Falling Due Within One Year
2024
£
Trade creditors 6,745
Other creditors 48,497
Taxation and social security 3,917
59,159
8. Share Capital
2024
£
Allotted, Called up and fully paid 1
Page 4