Silverfin false false 31/12/2024 01/01/2024 31/12/2024 H Porter 10/05/2022 J M Porter 30/01/2006 N M Stefaniak 15/06/2023 11 August 2025 The principal activity of the Company during the financial year was that fashion accessory wholesalers. 05639357 2024-12-31 05639357 bus:Director1 2024-12-31 05639357 bus:Director2 2024-12-31 05639357 bus:Director3 2024-12-31 05639357 2023-12-31 05639357 core:CurrentFinancialInstruments 2024-12-31 05639357 core:CurrentFinancialInstruments 2023-12-31 05639357 core:Non-currentFinancialInstruments 2024-12-31 05639357 core:Non-currentFinancialInstruments 2023-12-31 05639357 core:ShareCapital 2024-12-31 05639357 core:ShareCapital 2023-12-31 05639357 core:RetainedEarningsAccumulatedLosses 2024-12-31 05639357 core:RetainedEarningsAccumulatedLosses 2023-12-31 05639357 core:OtherResidualIntangibleAssets 2023-12-31 05639357 core:OtherResidualIntangibleAssets 2024-12-31 05639357 core:LeaseholdImprovements 2023-12-31 05639357 core:PlantMachinery 2023-12-31 05639357 core:Vehicles 2023-12-31 05639357 core:FurnitureFittings 2023-12-31 05639357 core:OfficeEquipment 2023-12-31 05639357 core:LeaseholdImprovements 2024-12-31 05639357 core:PlantMachinery 2024-12-31 05639357 core:Vehicles 2024-12-31 05639357 core:FurnitureFittings 2024-12-31 05639357 core:OfficeEquipment 2024-12-31 05639357 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-12-31 05639357 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-12-31 05639357 core:CurrentFinancialInstruments core:Secured 2024-12-31 05639357 2024-01-01 2024-12-31 05639357 bus:FilletedAccounts 2024-01-01 2024-12-31 05639357 bus:SmallEntities 2024-01-01 2024-12-31 05639357 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05639357 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05639357 bus:Director1 2024-01-01 2024-12-31 05639357 bus:Director2 2024-01-01 2024-12-31 05639357 bus:Director3 2024-01-01 2024-12-31 05639357 core:OtherResidualIntangibleAssets core:TopRangeValue 2024-01-01 2024-12-31 05639357 core:LeaseholdImprovements core:TopRangeValue 2024-01-01 2024-12-31 05639357 core:PlantMachinery 2024-01-01 2024-12-31 05639357 core:Vehicles 2024-01-01 2024-12-31 05639357 core:FurnitureFittings 2024-01-01 2024-12-31 05639357 core:OfficeEquipment 2024-01-01 2024-12-31 05639357 2023-01-01 2023-12-31 05639357 core:OtherResidualIntangibleAssets 2024-01-01 2024-12-31 05639357 core:LeaseholdImprovements 2024-01-01 2024-12-31 05639357 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 05639357 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Company No: 05639357 (England and Wales)

COASTAL ACCESSORIES LIMITED

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

COASTAL ACCESSORIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

COASTAL ACCESSORIES LIMITED

BALANCE SHEET

As at 31 December 2024
COASTAL ACCESSORIES LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 412 321
Tangible assets 4 97,733 117,027
98,145 117,348
Current assets
Stocks 5 834,679 502,904
Debtors 6 611,081 753,585
Cash at bank and in hand 90,673 4,569
1,536,433 1,261,058
Creditors: amounts falling due within one year 7 ( 771,347) ( 699,444)
Net current assets 765,086 561,614
Total assets less current liabilities 863,231 678,962
Creditors: amounts falling due after more than one year 8 ( 160,257) ( 19,031)
Provision for liabilities ( 2,500) ( 3,812)
Net assets 700,474 656,119
Capital and reserves
Called-up share capital 4 4
Profit and loss account 700,470 656,115
Total shareholders' funds 700,474 656,119

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 Coastal Accessories Limited (registered number: 05639357) were approved and authorised for issue by the Board of Directors on 11 August 2025. They were signed on its behalf by:

J M Porter
Director
COASTAL ACCESSORIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
COASTAL ACCESSORIES 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

Coastal Accessories 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 Coastal House, 48 Ashley Road, Bournemouth, BH1 4LJ, 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 £.

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 sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 3 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 reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 20 % reducing balance

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 11 11

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 January 2024 1,613 1,613
Additions 337 337
At 31 December 2024 1,950 1,950
Accumulated amortisation
At 01 January 2024 1,292 1,292
Charge for the financial year 246 246
At 31 December 2024 1,538 1,538
Net book value
At 31 December 2024 412 412
At 31 December 2023 321 321

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 January 2024 74,849 18,050 39,882 16,018 9,097 157,896
Additions 0 143 0 75 2,120 2,338
Disposals 0 0 ( 14,679) 0 ( 949) ( 15,628)
At 31 December 2024 74,849 18,193 25,203 16,093 10,268 144,606
Accumulated depreciation
At 01 January 2024 0 11,231 13,478 11,537 4,623 40,869
Charge for the financial year 7,485 1,380 6,057 910 1,075 16,907
Disposals 0 0 ( 10,871) 0 ( 32) ( 10,903)
At 31 December 2024 7,485 12,611 8,664 12,447 5,666 46,873
Net book value
At 31 December 2024 67,364 5,582 16,539 3,646 4,602 97,733
At 31 December 2023 74,849 6,819 26,404 4,481 4,474 117,027

5. Stocks

2024 2023
£ £
Stocks 834,679 502,904

6. Debtors

2024 2023
£ £
Trade debtors 199,542 227,901
Amounts owed by Group undertakings 365,180 331,227
Amounts owed by related parties 493 0
Other debtors 45,866 194,457
611,081 753,585

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts (secured £ 334,938) 335,018 300,156
Trade creditors 31,139 56,308
Taxation and social security 182,488 183,875
Obligations under finance leases and hire purchase contracts (secured £2,214) 3,166 2,214
Other creditors 219,536 156,891
771,347 699,444

Included in bank loans and overdrafts are liabilities in respect of invoice financing, with a carrying amount of £334,938 (2023 - £294,890). A fixed and floating charge is held over the assets of the company in respect of this debt.

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

2024 2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 15,864 19,031
Other creditors 144,393 0
160,257 19,031

Assets held under hire purchase contracts are secured on the assets to which they relate.

9. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 25,338 0