Coastwalk Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02823954 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

FOR

COASTWALK PROPERTIES LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

84

112

Investment property

5

500,000

500,000

500,084

500,112

CURRENT ASSETS

Debtors

6

37,892

8,417

CREDITORS

Amounts falling due within one year

7

215,292

197,135

NET CURRENT LIABILITIES

(177,400

)

(188,718

)

TOTAL ASSETS LESS CURRENT LIABILITIES

322,684

311,394

PROVISIONS FOR LIABILITIES

34,509

34,509

NET ASSETS

288,175

276,885

CAPITAL AND RESERVES

Called up share capital

900

900

Retained earnings

8

287,275

275,985

SHAREHOLDERS' FUNDS

288,175

276,885

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2022 and were signed on its behalf by:

A J Ford - Director

1.	STATUTORY INFORMATION

Coastwalk Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

02823954

Registered office:

Mulberry Grange

Cross Hill Lane

Rimington

Clitheroe

Lancashire

BB7 4EE

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 July 2020

and 30 June 2021

11,964

DEPRECIATION

At 1 July 2020

11,852

Charge for year

28

At 30 June 2021

11,880

NET BOOK VALUE

At 30 June 2021

84

At 30 June 2020

112

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2020

and 30 June 2021

500,000

NET BOOK VALUE

At 30 June 2021

500,000

At 30 June 2020

500,000

Fair value at 30 June 2021 is represented by:

£

Valuation in 2017

181,624

Cost

318,376

500,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

37,892

8,417

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

10,940

8,710

Other creditors

204,352

188,425

215,292

197,135

8.

RESERVES

Retained

earnings

£

At 1 July 2020

275,985

Profit for the year

11,290

At 30 June 2021

287,275

Included within retained earnings are fair value gains on investment properties of £181,624 (2020 - £181,624) net of deferred tax of £34,509 (2020 - £34,509), which are not available for distribution as they are unrealised.