Registered number
10834592
Coast View Property Limited
Filleted Accounts
30 June 2024
Coast View Property Limited
Registered number: 10834592
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 201,954 207,149
Current assets
Stocks 34,000 69,411
Debtors 4 93,513 122,759
Cash at bank and in hand 131,747 208,517
259,260 400,687
Creditors: amounts falling due within one year 5 (170,571) (218,756)
Net current assets 88,689 181,931
Total assets less current liabilities 290,643 389,080
Creditors: amounts falling due after more than one year 6 (40,018) (46,510)
Net assets 250,625 342,570
Capital and reserves
Called up share capital 100 100
Profit and loss account 250,525 342,470
Shareholders' funds 250,625 342,570
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N J Browne
Director
Approved by the board on 7 January 2025
Coast View Property Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 260,998 33,000 293,998
Additions - 120,960 120,960
Disposals - (80,970) (80,970)
At 30 June 2024 260,998 72,990 333,988
Depreciation
At 1 July 2023 66,083 20,766 86,849
Charge for the year 47,703 18,248 65,951
On disposals - (20,766) (20,766)
At 30 June 2024 113,786 18,248 132,034
Net book value
At 30 June 2024 147,212 54,742 201,954
At 30 June 2023 194,915 12,234 207,149
4 Debtors 2024 2023
£ £
Trade debtors 51,000 75,000
Other debtors 42,513 47,759
93,513 122,759
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,885 18,376
Obligations under finance lease and hire purchase contracts 15,636 62,382
Taxation and social security costs 128,322 121,838
Other creditors 16,728 16,160
170,571 218,756
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,301 19,601
Obligations under finance lease and hire purchase contracts 30,717 26,909
40,018 46,510
7 Controlling party
The company is controlled by the director who owns the majority of all issued share capital.
8 Other information
Coast View Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Nut Orchard
New England Lane
Rye
TN31 7NT
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