REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2023 TO 28 JUNE 2024 |
FOR |
COASTWALK PROPERTIES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2023 TO 28 JUNE 2024 |
FOR |
COASTWALK PROPERTIES LIMITED |
COASTWALK PROPERTIES LIMITED (REGISTERED NUMBER: 02823954) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1 July 2023 to 28 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
COASTWALK PROPERTIES LIMITED |
COMPANY INFORMATION |
for the Period 1 July 2023 to 28 June 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
COASTWALK PROPERTIES LIMITED (REGISTERED NUMBER: 02823954) |
BALANCE SHEET |
28 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
COASTWALK PROPERTIES LIMITED (REGISTERED NUMBER: 02823954) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 July 2023 to 28 June 2024 |
1. | STATUTORY INFORMATION |
Coastwalk Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 02823954 . The address of the registered office is Hillside Damson Lane, Mobberley, Knutsford, England, WA16 7HY. The principal place of business is 40 & 40A Market Street Stockport, Cheshire, England, SK6 7AD. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of rental income generated from the investment property which is recognised at the point of which the services are provided in accordance with the stage of completion. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation on tangible fixed assets are charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods: |
Fixtures and Fittings | - | 25% reducing balance |
At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
COASTWALK PROPERTIES LIMITED (REGISTERED NUMBER: 02823954) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 July 2023 to 28 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 July 2023 |
Disposals | ( |
) |
At 28 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Eliminated on disposal | ( |
) |
At 28 June 2024 |
NET BOOK VALUE |
At 28 June 2024 |
At 30 June 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
and 28 June 2024 |
NET BOOK VALUE |
At 28 June 2024 |
At 30 June 2023 |
COASTWALK PROPERTIES LIMITED (REGISTERED NUMBER: 02823954) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 July 2023 to 28 June 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 28 June 2024 is represented by: |
£ |
Valuation in 2017 | 181,624 |
Cost | 318,376 |
500,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 900 | 900 |