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Registration number: 11099569

Coastbuild Ltd

REPORT OF THE DIRECTORS and Unaudited Financial Statements

for the Year Ended 31 January 2025

 

Coastbuild Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Coastbuild Ltd

Company Information

Directors

Mr NJ Rowe

Mr BJ Wolverson

Registered office

22 Parklands
St. Florence
Tenby
SA70 8NL
 

Accountants

Wynne & Co
Chartered Accountants
Forestry House
Brewery Road
Carmarthen
Carmarthenshire
SA31 1TF

 

Coastbuild Ltd

(Registration number: 11099569)
Balance Sheet as at 31 January 2025

Note

31 January
2025
£

31 January
2024
£

Fixed assets

 

Tangible assets

4

112,276

152,855

Current assets

 

Stocks

5

59,243

31,455

Debtors

6

90,731

91,721

Cash at bank and in hand

 

29

30,163

 

150,003

153,339

Creditors: Amounts falling due within one year

7

(150,859)

(146,249)

Net current (liabilities)/assets

 

(856)

7,090

Total assets less current liabilities

 

111,420

159,945

Creditors: Amounts falling due after more than one year

7

(62,314)

(90,558)

Net assets

 

49,106

69,387

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

49,006

69,287

Shareholders' funds

 

49,106

69,387

 

Coastbuild Ltd

(Registration number: 11099569)
Balance Sheet as at 31 January 2025

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 March 2025 and signed on its behalf by:
 

.........................................
Mr NJ Rowe
Director

 

Coastbuild Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
22 Parklands
St. Florence
Tenby
SA70 8NL
Wales

These financial statements were authorised for issue by the Board on 28 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The accounts have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Coastbuild Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33.3% on cost

Office equipment

25% on cost

Plant and machinery

15% on cost

Motor Vehicles

20% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Coastbuild Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Coastbuild Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 4).

 

Coastbuild Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2024

5,326

135,157

68,294

208,777

Additions

-

-

1,870

1,870

Disposals

-

(28,712)

-

(28,712)

At 31 January 2025

5,326

106,445

70,164

181,935

Depreciation

At 1 February 2024

5,056

26,602

24,264

55,922

Charge for the year

200

21,392

9,851

31,443

Eliminated on disposal

-

(17,706)

-

(17,706)

At 31 January 2025

5,256

30,288

34,115

69,659

Carrying amount

At 31 January 2025

70

76,157

36,049

112,276

At 31 January 2024

270

108,555

44,030

152,855

5

Stocks

31 January
2025
£

31 January
2024
£

Work in progress

59,243

31,455

6

Debtors

Current

31 January
2025
£

31 January
2024
£

Trade debtors

-

(14,998)

Prepayments

1,972

1,178

Other debtors

88,759

105,541

 

90,731

91,721

 

Coastbuild Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

Note

31 January
2025
£

31 January
2024
£

Due within one year

 

Bank loans and overdrafts

9

31,170

35,538

Trade creditors

 

41,318

46,911

Taxation and social security

 

5,892

-

Accruals and deferred income

 

2,210

2,127

Other creditors

 

70,269

61,673

 

150,859

146,249

Creditors: amounts falling due after more than one year

Note

31 January
2025
£

31 January
2024
£

Due after one year

 

Loans and borrowings

9

62,314

90,558

8

Share capital

Allotted, called up and fully paid shares

31 January
2025

31 January
2024

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Coastbuild Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

9

Loans and borrowings

Non-current loans and borrowings

31 January
2025
£

31 January
2024
£

Bank borrowings

2,566

13,066

Hire purchase contracts

59,748

77,492

62,314

90,558

Current loans and borrowings

31 January
2025
£

31 January
2024
£

Bank borrowings

10,499

10,314

Bank overdrafts

3,433

1,555

Hire purchase contracts

17,238

23,669

31,170

35,538

 

Coastbuild Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2025

10

Dividends

Interim dividends paid

31 January
2025
£

31 January
2024
£

Interim dividend of £660.00 (2024 - £630.00) per each Ordinary

66,000

63,000

 

 

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

18,200

18,200