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Registered number: 6601021
Kent Coast Accounts Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Kent Coast Accounts Ltd
AAT Licenced Accountants
39 Brooke Avenue
Margate
Kent
CT9 5NG
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 6601021
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 270 520
Tangible Assets 4 92,267 107,380
92,537 107,900
CURRENT ASSETS
Debtors 5 262,354 264,510
Cash at bank and in hand 216,223 239,987
478,577 504,497
Creditors: Amounts Falling Due Within One Year 6 (137,196 ) (277,854 )
NET CURRENT ASSETS (LIABILITIES) 341,381 226,643
TOTAL ASSETS LESS CURRENT LIABILITIES 433,918 334,543
Creditors: Amounts Falling Due After More Than One Year 7 (68,344 ) (85,548 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (23,065 ) (26,844 )
NET ASSETS 342,509 222,151
CAPITAL AND RESERVES
Called up share capital 10 300 300
Profit and Loss Account 342,209 221,851
SHAREHOLDERS' FUNDS 342,509 222,151
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For the year ending 31 May 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.
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
Mr Joshua Douglas Thomson
Director
6th February 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. it also requires management to exercise judgment in applying the Company's accounting policies.
1.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
1.3. Turnover
Rendering of services
Turnover is measured on the rendering of services based on completion of client project. Once project is completed, the turnover is recognised under the matching concept. For works where the project is ever going (such as Consultancy), turnover is measured based on the consideration charged for in contract position.
Sale of goods
Turnover is measured for the sale of goods, once the goods have been delivered and installed.
Sale of licence
Turnover for the sale of licenced software usage, is recognised on a month-by-month basis as the licence becomes consumed. Once consumed, revenue is recognised. 
1.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets is the company's website development. It is amortised to profit and loss account over its estimated economic life of 6 years.
1.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation. 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 varying bases:
Plant & Machinery 0 to 5 years, straight line
Motor Vehicles 4 to 7 years straight line
Computer Equipment 0 to 8 years, straight line
Assets considered to lose their value in the year of acquisition are depreciated fully upon purchase.
1.6. Leasing and Hire Purchase Contracts
Hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under hire purchase contracts are depreciated over their useful lives.
Finance leases
Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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1.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. 
1.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 6 (2023: 6)
6 6
3. Intangible Assets
Other
£
Cost
As at 1 June 2023 1,499
As at 31 May 2024 1,499
Amortisation
As at 1 June 2023 979
Provided during the period 250
As at 31 May 2024 1,229
Net Book Value
As at 31 May 2024 270
As at 1 June 2023 520
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 32,267 101,461 12,213 145,941
Additions 949 - 1,491 2,440
Disposals (458 ) - (607 ) (1,065 )
As at 31 May 2024 32,758 101,461 13,097 147,316
...CONTINUED
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Depreciation
As at 1 June 2023 17,920 14,176 6,465 38,561
Provided during the period 630 14,494 2,241 17,365
Disposals (270 ) - (607 ) (877 )
As at 31 May 2024 18,280 28,670 8,099 55,049
Net Book Value
As at 31 May 2024 14,478 72,791 4,998 92,267
As at 1 June 2023 14,347 87,285 5,748 107,380
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 32,974 27,322
Prepayments and accrued income 3,992 3,777
Other debtors 845 8,868
37,811 39,967
Due after more than one year
Other debtors 224,543 224,543
224,543 224,543
262,354 264,510
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,851 10,910
Trade creditors 882 252
Bank loans and overdrafts 4,804 4,974
Corporation tax 64,024 46,374
Other taxes and social security 1,298 282
VAT 24,812 21,523
Other creditors 182 182
Accruals and deferred income 90 101
Directors' loan accounts 29,253 193,256
137,196 277,854
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 38,749 50,601
Bank loans 29,595 34,947
68,344 85,548
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 11,023 16,331
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The maturity of these amounts is as follows:
Within one year 11,851 10,910
Between one and five years 38,749 50,601
50,600 61,511
50,600 61,511
9. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances.
2024 2023
£ £
Deferred Tax 23,065 26,844
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
Value Number 2024 2023
Allotted, called up and fully paid £ £ £
Ordinary Shares 1.000 300 300 300
11. Pension Commitments
The company operates a defined contribution pension scheme for employees The assets of the scheme are held separately from those of the company in an independently administered fund. 
At the balance sheet date unpaid contributions of 2024 - £182 (2023- £167) were due to the fund. They are included in Other Creditors.
12. Controlling Party
The company's controlling party is Joshua Douglas Thomson by virtue of his ownership of 80% of the issued share capital in the company.
13. General Information
Kent Coast Accounts Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 6601021 . The registered office is 39 Brooke Avenue, Margate, Kent, CT9 5NG.
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