REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 June 2024 |
for |
COASTWIND LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 June 2024 |
for |
COASTWIND LIMITED |
COASTWIND LIMITED (REGISTERED NUMBER: 03595584) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
COASTWIND LIMITED |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
42 Lytton Road |
Barnet |
Hertfordshire |
EN5 5BY |
COASTWIND LIMITED (REGISTERED NUMBER: 03595584) |
Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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 Board of Directors and authorised for issue on |
COASTWIND LIMITED (REGISTERED NUMBER: 03595584) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Coastwind Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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 year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
COASTWIND LIMITED (REGISTERED NUMBER: 03595584) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
4. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
Additions |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Directors' current accounts | 422,218 | 410,650 |
Tax |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
VAT | 30,187 | 34,201 |
Accruals and deferred income |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
COASTWIND LIMITED (REGISTERED NUMBER: 03595584) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023: |
30.6.24 | 30.6.23 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
At the balance sheet date, the directors owed the company £422,217 (2023: £410,649 ). During the year, interest of £9,240 (2023: £Nil) was charged on the overdrawn director’s loan account at a rate of 2.25% per annum. The interest charged has been recognized as income in the profit and loss account. |
10. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company was owed £Nil (2023: £72,549) by Great Dunmow Estates Ltd, £Nil (2023: £159,300) by Mantle Capital Management Ltd, £Nil (2023: £242,078) by Mantle (Epping) Ltd, £Nil (2023: £104,722) by Mantle Abingdon Ltd, £10,000 (2023: £10,000) by Foreland Asset Management Ltd £116,819 (2023: Cr £5,000) by Mantle (Hertford) Ltd and £218,224 (2023: £218,224) by Jackson Management.. |
At the balance sheet date, the company owed £47,095 (2023: £20,500) to Bailey Bridge Ltd, £7,000 (2023: £7,000l) to Mantle Estates LLP, £Nil (2023: £229,868) to Mantle (Woodside) Ltd, £Nil (2023: £530) to Mantle Space Ltd and £20,000 (2023: £135,000) to Mantle (Saffron) Ltd. |
The above are related parties by virtue of the fact that they are under common control. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mantle Estates LLP. |
The ultimate controlling party is |