Company registration number 08790103 (England and Wales)
COAST SAUNDERSFOOT LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
COAST SAUNDERSFOOT LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
COAST SAUNDERSFOOT LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
129,975
160,204
Current assets
Stocks
13,964
10,087
Debtors
4
14,522
13,393
Cash at bank and in hand
410
14,869
28,896
38,349
Creditors: amounts falling due within one year
5
(287,031)
(241,934)
Net current liabilities
(258,135)
(203,585)
Total assets less current liabilities
(128,160)
(43,381)
Provisions for liabilities
-
0
(8,505)
Net liabilities
(128,160)
(51,886)
Capital and reserves
Called up share capital
6
40,002
40,002
Profit and loss reserves
(168,162)
(91,888)
Total equity
(128,160)
(51,886)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 16 July 2025 and are signed on its behalf by:
Mr Neil Kedward
Director
Company registration number 08790103 (England and Wales)
COAST SAUNDERSFOOT LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
40,002
25,475
65,477
Year ended 31 December 2023:
Loss and total comprehensive income
-
(117,363)
(117,363)
Balance at 31 December 2023
40,002
(91,888)
(51,886)
Year ended 31 December 2024:
Loss and total comprehensive income
-
(76,274)
(76,274)
Balance at 31 December 2024
40,002
(168,162)
(128,160)
COAST SAUNDERSFOOT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Coast Saundersfoot Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Cornstore, The Green, Pembroke, UK, SA71 4NU. . The principal activity of the company continued to be that of a restaurant.

 

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.true

 

As at 31 December 2024 the company incurred a loss before tax of £84,646 (2023: £117,363) and had a net liabilities position of £128,027 (2023: £51,886), albeit inclusive of amounts owing to fellow group companies £149,248. The company has received letters of support that these amounts will not fall due for repayment within 12 months from the date of approval of these financial statements.

 

In making our assessment, the directors have undertaken a review of the company's financial position. The directors have prepared forecasts, which indicate that based on the anticipated level of sales, there is a reasonable expectation that the company will be able to operate within its current level of agreed facilities the group has secured with the bank for a period of at least 12 months from the date of approval of the financial statements. Significant funding has been achieved via capital injection through the issue of group shares to external investors which will assist with bridging cashflow shortfalls and completion of property redevelopment. This helps deflate the doubt, if not completely satisfying material uncertainty, of the company's ability to continue as a going concern.

 

Economic factors continue to bring uncertainty to business operations and the director therefore continue to review profit margins to proactively seek suitable cost saving measures wherever possible without sacrificing quality and customer experience. At the date of signing the report sales continued to meet budgeted levels, With no indication at the current time this position will change the company's forecasts and projections shoe that the company will be able to operate within its facilities.

 

After consideration of the above matters and the expected continued support of Parent Company, investors and lenders, the directors are satisfied that it is appropriate to continue to prepare the financial statements on a going concern basis. The financial statements therefore do not include the adjustments required should the company be unable to continue as a going concern.

 

 

1.3
Turnover

Revenue represents the amounts received (excluding VAT and similar taxes) for food and beverage sales and recognised at the point of sale as and when the customer dines.

COAST SAUNDERSFOOT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Land Nil, Buildings 10% straight line
Plant and equipment
20% straight line
Fixtures and fittings
10% straight line
Computers
33.33% straight line

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.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

 

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

COAST SAUNDERSFOOT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Staff
15
13
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
106,444
342,140
448,584
Additions
-
0
4,024
4,024
At 31 December 2024
106,444
346,164
452,608
Depreciation and impairment
At 1 January 2024
25,646
262,734
288,380
Depreciation charged in the year
10,673
23,580
34,253
At 31 December 2024
36,319
286,314
322,633
Carrying amount
At 31 December 2024
70,125
59,850
129,975
At 31 December 2023
80,798
79,406
160,204
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
14,522
13,393
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
8,632
-
0
Trade creditors
27,991
26,002
Amounts owed to group undertakings
149,248
140,167
Taxation and social security
25,823
15,715
Other creditors
75,337
60,050
287,031
241,934
COAST SAUNDERSFOOT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
40,002
40,002
40,002
40,002
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

 

Material uncertainty to going concern

In forming our opinion, which is not modified, we have considered the adequacy of the disclosures made in note 1 of the financial statements concerning the company's ability to continue as a going concern. The conditions described in note 1 indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern.

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Mark Howells
Statutory Auditor:
Redwood Wales Limited
Date of audit report:
16 July 2025
8
Operating lease commitments

 

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total commitments
490,000
-
0

The operating leases represent leases to third parties. The leases are negotiated over terms of 10 years.leases include a provision for five-yearly upward rent reviews according to prevailing market conditions. There are no options in place for either party to extend the lease terms.

 

COAST SAUNDERSFOOT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
9
Parent company

Coast Saundersfoot Ltd is a wholly owned subsidiary of The Seren Collection Ltd, a company registered in England and Wales.

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