Gone Coastal Ltd 31/12/2024 iXBRL

Company registration number: 12109658

Gone Coastal Ltd

Unaudited filleted financial statements

for the year ended

31 December 2024

Prepared by:

THOMAS NOCK MARTIN LIMITED

CHARTERED ACCOUNTANTS

BRIERLEY HILL

Gone Coastal Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Gone Coastal Ltd

Directors and other information


	Directors	Graham Turner
		Louise Turner


	Company number	12109658


	Registered office	5 Hagley Court South
		The Waterfront
		Brierley Hill
		West Midlands
		DY5 1XE


	Accountants	Thomas Nock Martin Limited
		5 Hagley Court South
		The Waterfront
		Brierley Hill
		West Midlands
		DY5 1XE




	Bankers	National Westminster Bank plc
		2 Hagley Road
		Halesowen
		West Midlands
		B63 4RQ

Gone Coastal Ltd

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Gone Coastal Ltd

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gone Coastal Ltd for the year ended 31 December 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of Gone Coastal Ltd, as a body, in accordance with the terms of our engagement letter dated 25 November 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Gone Coastal Ltd and state those matters that we have agreed to state to the board of directors of Gone Coastal Ltd as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gone Coastal Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Gone Coastal Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gone Coastal Ltd. You consider that Gone Coastal Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gone Coastal Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Thomas Nock Martin Limited

Chartered Accountants

5 Hagley Court South

The Waterfront

Brierley Hill

West Midlands

DY5 1XE

24 September 2025

Gone Coastal Ltd

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	868,118		870,097
Investments	6	645		-
		_______		_______
			868,763		870,097

Current assets
Debtors	7	5,116		1,636
Cash at bank and in hand		12,100		8,655
		_______		_______
		17,216		10,291
Creditors: amounts falling due
within one year	8	( 13,199)		( 793,529)
		_______		_______
Net current assets/(liabilities)			4,017		( 783,238)
			_______		_______
Total assets less current liabilities			872,780		86,859

Provisions for liabilities			( 28,580)		( 22,100)

			_______		_______
Net assets			844,200		64,759
			_______		_______

Capital and reserves
Called up share capital	9		100		2
Fair value reserve			91,382		91,382
Profit and loss account			752,718		( 26,625)
			_______		_______
Shareholders funds			844,200		64,759
			_______		_______

For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 24 September 2025 , and are signed on behalf of the board by:

Graham Turner

Director

Company registration number: 12109658

Gone Coastal Ltd

Statement of changes in equity

Year ended 31 December 2024

	Called up share capital	Fair value reserve	Profit and loss account	Total
	£	£	£	£


At 1 January 2023	2	91,382	( 23,965)	67,419

Profit/(loss) for the year	-	-	( 2,660)	( 2,660)
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	( 2,660)	( 2,660)

	_______	_______	_______	_______
At 31 December 2023 and 1 January 2024	2	91,382	( 26,625)	64,759

Profit/(loss) for the year	-	-	779,343	779,343
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	779,343	779,343

Issue of shares	98	-	-	98
	_______	_______	_______	_______
Total investments by and distributions to owners	98	-	-	98

	_______	_______	_______	_______
At 31 December 2024	100	91,382	752,718	844,200
	_______	_______	_______	_______

Gone Coastal Ltd

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 5 Hagley Court South, The Waterfront, Brierley Hill, West Midlands, DY5 1XE.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Turnover

Turnover represents income from property ownership and management, including a luxury holiday cottage. The company is not registered for VAT.Revenue received for holiday sales is initially deferred and subsequently recognised upon completion of the holiday.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Investment properties	-	not depreciated
Plant and machinery	-	20 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and trade creditors, other debtors and creditors.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tangible assets

	Investment Properties	Plant and machinery	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	860,204	20,754	880,958
	_______	_______	_______
Depreciation
At 1 January 2024	-	10,861	10,861
Charge for the year	-	1,979	1,979
	_______	_______	_______
At 31 December 2024	-	12,840	12,840
	_______	_______	_______
Carrying amount
At 31 December 2024	860,204	7,914	868,118
	_______	_______	_______
At 31 December 2023	860,204	9,893	870,097
	_______	_______	_______

Investment property

The investment properties are measured at fair value at £860,204 (2023 £860,204). During the period there was no fair value gain movement to the profit and loss account. This was determined by the directors valuation, based on current market prices of comparable properties.

6. Investments

	Shares in group undertakings	Total

	£	£
Cost
At 1 January 2024	-	-
Additions	645	645
	_______	_______
At 31 December 2024	645	645
	_______	_______
Impairment
At 1 January 2024 and 31 December 2024	-	-
	_______	_______
Carrying amount
At 31 December 2024	645	645
	_______	_______
At 31 December 2023	-	-
	_______	_______

7. Debtors

	2024	2023
	£	£

Trade debtors	817	-
Other debtors	4,299	1,636
	_______	_______
	5,116	1,636
	_______	_______

8. Creditors: amounts falling due within one year

	2024	2023
	£	£

Amounts owed to group undertakings	645	-
Other creditors	12,554	793,529
	_______	_______
	13,199	793,529
	_______	_______

9. Called up share capital

Issued, called up and fully paid

	2024		2023
	No	£	No	£

Ordinary shares of £ 1.00 each	100	100	2	2
	_______	_______	_______	_______

On the 11 January 2024 the company issued a further 98 Ordinary of £1 each, at par, to provide further capital.

10. Related party transactions

During the year, the company was forgiven a loan owed to RDGL Holdings Limited of £765,589.