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Company Registration No. 07808776 (England and Wales)
South Coast Finance Limited Unaudited accounts for the year ended 31 October 2024
South Coast Finance Limited Unaudited accounts Contents
Page
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South Coast Finance Limited Company Information for the year ended 31 October 2024
Director
Mr Simon Hallworth
Company Number
07808776 (England and Wales)
Registered Office
Curls Cottage Ripe's Lane Ripe East Sussex BN66AP England
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South Coast Finance Limited Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
58 
112 
Investments
447,000 
447,000 
447,058 
447,112 
Current assets
Debtors
2,835 
6,478 
Cash at bank and in hand
1,448 
760 
4,283 
7,238 
Creditors: amounts falling due within one year
(331,471)
(331,471)
Net current liabilities
(327,188)
(324,233)
Total assets less current liabilities
119,870 
122,879 
Creditors: amounts falling due after more than one year
(1,885)
(4,930)
Net assets
117,985 
117,949 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
117,885 
117,849 
Shareholders' funds
117,985 
117,949 
For the year ending 31 October 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 director acknowledges his 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 and authorised for issue on 13 July 2025 and were signed on its behalf by
Mr Simon Hallworth Director Company Registration No. 07808776
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South Coast Finance Limited Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
South Coast Finance Limited is a private company, limited by shares, registered in England and Wales, registration number 07808776. The registered office is Curls Cottage, Ripe's Lane, Ripe, East Sussex, BN66AP, England.
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.
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
20% on Written Down Value
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 November 2023
425 
At 31 October 2024
425 
Depreciation
At 1 November 2023
313 
Charge for the year
54 
At 31 October 2024
367 
Net book value
At 31 October 2024
58 
At 31 October 2023
112 
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South Coast Finance Limited Notes to the Accounts for the year ended 31 October 2024
5
Investments
Other investments 
£ 
Valuation at 1 November 2023
447,000 
Valuation at 31 October 2024
447,000 
The investments are subject to a devaluation following the Administration of the investment company. The Director is working with the Administrator and the expected return is at present unknown. No reserve at present has been made.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
2,835 
6,478 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
3,055 
3,055 
Other creditors
328,416 
328,416 
331,471 
331,471 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
1,885 
4,930 
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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