1 June 2023 false No description of principal activity Taxfiler 2024.6 SC207330business:PrivateLimitedCompanyLtd2023-06-012024-05-31 SC2073302023-05-31 SC2073302023-06-012024-05-31 SC207330business:AuditExemptWithAccountantsReport2023-06-012024-05-31 SC207330business:FilletedAccounts2023-06-012024-05-31 SC2073302024-05-31 SC207330business:Director12023-06-012024-05-31 SC207330business:Director22023-06-012024-05-31 SC207330business:Director32023-06-012024-05-31 SC207330business:RegisteredOffice2023-06-012024-05-31 SC2073302023-05-31 SC207330core:WithinOneYear2024-05-31 SC207330core:WithinOneYear2023-05-31 SC207330core:ShareCapitalcore:PreviouslyStatedAmount2024-05-31 SC207330core:ShareCapitalcore:PreviouslyStatedAmount2023-05-31 SC207330core:CapitalRedemptionReservecore:PreviouslyStatedAmount2024-05-31 SC207330core:CapitalRedemptionReservecore:PreviouslyStatedAmount2023-05-31 SC207330core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-05-31 SC207330core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-05-31 SC207330core:PreviouslyStatedAmount2024-05-31 SC207330core:PreviouslyStatedAmount2023-05-31 SC207330business:SmallEntities2023-06-012024-05-31 SC207330countries:Scotland2023-06-012024-05-31 SC207330core:PlantMachinery2023-06-012024-05-31 SC207330core:PlantMachinery2023-05-31 SC207330core:PlantMachinery2024-05-31 SC207330core:AdditionsToInvestments2024-05-31 SC2073302022-06-012023-05-31 iso4217:GBP xbrli:pure
Company Registration No. SC207330 (Scotland)
Coastal Resources Limited Unaudited accounts for the year ended 31 May 2024
Coastal Resources Limited Company Information for the year ended 31 May 2024
Directors
C I Wilson R D Boyd S N Meneer
Company Number
SC207330 (Scotland)
Registered Office
14 Abbotsford Terrace Lanark Lanarkshire ML11 7EG
Accountants
CRK Consultants Ltd 14 Abbotsford Terrace Lanark ML11 7EG
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Coastal Resources Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
10 
10 
Investments
59,590 
51,325 
59,600 
51,335 
Current assets
Inventories
1,770 
4,350 
Debtors
109,969 
142,717 
Cash at bank and in hand
544 
141 
112,283 
147,208 
Creditors: amounts falling due within one year
(35,413)
(62,332)
Net current assets
76,870 
84,876 
Net assets
136,470 
136,211 
Capital and reserves
Called up share capital
1,000 
1,000 
Capital redemption reserve
123,605 
123,605 
Profit and loss account
11,865 
11,606 
Shareholders' funds
136,470 
136,211 
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 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 27 February 2025 and were signed on its behalf by
C I Wilson Director Company Registration No. SC207330
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Coastal Resources Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Coastal Resources Limited is a private company, limited by shares, registered in Scotland, registration number SC207330. The registered office is 14 Abbotsford Terrace, Lanark, Lanarkshire, ML11 7EG.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 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
25% reducing balance
Investments
Investments in subsidiaries are recognised at cost
Stocks
Inventories have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items
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Coastal Resources Limited Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 June 2023
1,387 
At 31 May 2024
1,387 
Depreciation
At 1 June 2023
1,377 
At 31 May 2024
1,377 
Net book value
At 31 May 2024
10 
At 31 May 2023
10 
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 June 2023
51,325 
Additions
8,265 
Valuation at 31 May 2024
59,590 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
53,440 
- 
Other debtors
56,529 
142,717 
109,969 
142,717 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
(134)
875 
Taxes and social security
1,338 
749 
Other creditors
3,387 
22,419 
Loans from directors
14,877 
22,364 
Accruals
15,945 
15,925 
35,413 
62,332 
8
Transactions with related parties
Included within other creditors is a balance due, under normal commercial terms, of £3,450 (2022 - £3,463) to CavernPower Limited and £18,969 (2022 - £26,296) to Acosim (UK) Limited, companies of which C.I. Wilson is also a director. Included within other debtors are amounts due of £66,947 (2022 - £72,561) from Durness Estate (UK) Ltd, a subsidiary company, £7,354 (2022 - £6,649) from Roneval Quarries Ltd, a company of which C.I.Wilson is a director, and £67,966 (2022 - £67,533) from Acosim Sysytems (UK) Limited, a company of which C.I.Wilson and R.D.Boyd are directors.
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Coastal Resources Limited Notes to the Accounts for the year ended 31 May 2024
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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