Company Registration No. SC762782 (Scotland)
Coastal Connection Limited
UNAUDITED ACCOUNTS
for the period from 17 March 2023 to 31 March 2024
Coastal Connection Limited
UNAUDITED ACCOUNTS
Contents
Coastal Connection Limited
Company Information
for the period from 17 March 2023 to 31 March 2024
Directors
Mr C T Smith
Mr S K Smith
Company Number
SC762782 (Scotland)
Registered Office
Shiol
Ardentallen
Oban
Argyll
PA34 4SF
United Kingdom
Accountants
Wellden Turnbull Limited
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Coastal Connection Limited
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
134,618
Creditors: amounts falling due within one year
(1,077,516)
Net current liabilities
(785,911)
Called up share capital
20
Profit and loss account
146,093
Shareholders' funds
146,113
For the period 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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 January 2025 and were signed on its behalf by
Mr C T Smith
Director
Company Registration No. SC762782
Coastal Connection Limited
Notes to the Accounts
for the period from 17 March 2023 to 31 March 2024
Coastal Connection Limited is a private company, limited by shares, registered in Scotland, registration number SC762782. The registered office is Shiol, Ardentallen, Oban, Argyll, PA34 4SF, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the period from 17 March 2023 to 31 March 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 17 March 2023.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5% Straight Line Method
Motor vehicles
33% Straight Line Method
Fixtures & fittings
25% Straight Line Method
Computer equipment
33% Straight Line Method
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Coastal Connection Limited
Notes to the Accounts
for the period from 17 March 2023 to 31 March 2024
4
Intangible fixed assets
Goodwill
Charge for the period
15,000
Amortisation over 10 years straight line
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 17 March 2023
1,114,537
52,797
56,876
1,983
1,226,193
Additions
-
23,160
-
-
23,160
At 31 March 2024
1,114,537
75,957
56,876
1,983
1,249,353
At 17 March 2023
349,768
37,462
8,388
-
395,618
Charge for the period
38,239
5,697
12,121
654
56,711
At 31 March 2024
388,007
43,159
20,509
654
452,329
At 31 March 2024
726,530
32,798
36,367
1,329
797,024
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
Taxes and social security
57,000
Loans from directors
974,630
Coastal Connection Limited
Notes to the Accounts
for the period from 17 March 2023 to 31 March 2024
Allotted, called up and fully paid:
20 Ordinary shares of £1 each
20
Shares issued during the period:
20 Ordinary shares of £1 each
20
9
Transactions with related parties
At the year end, the company owes directors £974,630. This loan is interest free and repayable on demand.
10
Average number of employees
During the period the average number of employees was 3.