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Company No: 03697007 (England and Wales)

SHORELINE COTTAGES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

SHORELINE COTTAGES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

SHORELINE COTTAGES LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
SHORELINE COTTAGES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTORS David Haycox
Lesley Hunter
SECRETARY Lesley Hunter
REGISTERED OFFICE Unit B4a St. Hilda’S Business Centre
The Ropery
Whitby
YO22 4ET
United Kingdom
COMPANY NUMBER 03697007 (England and Wales)
ACCOUNTANT Ian Walker & Co
Wellington House
Aviator Court
Clifton Moor
York
YO30 4UZ
SHORELINE COTTAGES LIMITED

BALANCE SHEET

As at 31 December 2024
SHORELINE COTTAGES LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 163,813 194,156
Tangible assets 4 158,343 172,522
322,156 366,678
Current assets
Debtors 5 48,625 82,040
Cash at bank and in hand 6 1,233 4,915
49,858 86,955
Creditors: amounts falling due within one year 7 ( 328,759) ( 378,192)
Net current liabilities (278,901) (291,237)
Total assets less current liabilities 43,255 75,441
Creditors: amounts falling due after more than one year 8 ( 42,992) ( 75,327)
Net assets 263 114
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 163 14
Total shareholder's funds 263 114

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Shoreline Cottages Limited (registered number: 03697007) were approved and authorised for issue by the Board of Directors on 11 June 2025. They were signed on its behalf by:

David Haycox
Director
SHORELINE COTTAGES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
SHORELINE COTTAGES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Shoreline Cottages Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit B4a St. Hilda’S Business Centre, The Ropery, Whitby, YO22 4ET, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 20 years straight line
Plant and machinery 20 % reducing balance
Fixtures and fittings 5 years straight line
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 5

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 January 2024 425,333 425,333
Additions 4,110 4,110
At 31 December 2024 429,443 429,443
Accumulated amortisation
At 01 January 2024 231,177 231,177
Charge for the financial year 34,453 34,453
At 31 December 2024 265,630 265,630
Net book value
At 31 December 2024 163,813 163,813
At 31 December 2023 194,156 194,156

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 January 2024 462,480 2,316 323,164 3,256 791,216
Additions 0 384 0 1,043 1,427
Disposals 0 0 ( 323,164) 0 ( 323,164)
At 31 December 2024 462,480 2,700 0 4,299 469,479
Accumulated depreciation
At 01 January 2024 293,485 1,130 322,821 1,258 618,694
Charge for the financial year 13,593 237 0 1,433 15,263
Disposals 0 0 ( 322,821) 0 ( 322,821)
At 31 December 2024 307,078 1,367 0 2,691 311,136
Net book value
At 31 December 2024 155,402 1,333 0 1,608 158,343
At 31 December 2023 168,995 1,186 343 1,998 172,522

5. Debtors

2024 2023
£ £
Other debtors 48,625 82,040

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 1,233 4,915

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 33,178 120,176
Trade creditors 58,623 39,897
Taxation and social security 58,247 45,512
Other creditors 178,711 172,607
328,759 378,192

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 42,992 75,327

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100