Coast and Country 2006 Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05713729 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

FOR

COAST AND COUNTRY 2006 LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr W G Boggia

Mr A G Boggia

Miss C L Boggia

Mrs S Boggia

SECRETARY:

Miss G P Hickmott

REGISTERED OFFICE:

Denley Hall

Seasalter Road

Graveney

FAVERSHAM

Kent

ME13 9ED

REGISTERED NUMBER:

05713729 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

Bank Chambers

1 Central Avenue

Sittingbourne

Kent

ME10 4AE

FIXED ASSETS

Intangible assets

5

1

1

Tangible assets

6

1,274,061

1,211,197

Investments

7

1,226,946

1,119,278

2,501,008

2,330,476

CURRENT ASSETS

Stocks

8

77,019

54,259

Debtors

9

147,072

120,132

Cash at bank and in hand

904,969

891,117

1,129,060

1,065,508

CREDITORS

Amounts falling due within one year

10

589,976

602,567

NET CURRENT ASSETS

539,084

462,941

TOTAL ASSETS LESS CURRENT LIABILITIES

3,040,092

2,793,417

PROVISIONS FOR LIABILITIES

46,900

27,880

NET ASSETS

2,993,192

2,765,537

CAPITAL AND RESERVES

Called up share capital

22,500

22,500

Share premium

1,226,448

1,226,448

Retained earnings

1,744,244

1,516,589

SHAREHOLDERS' FUNDS

2,993,192

2,765,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 25 October 2017 and were signed on its behalf by:

Mr W G Boggia - Director

1.	STATUTORY INFORMATION

Coast and Country 2006 Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The transition to FRS102 took place on 1 June 2015.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the value, net of value added tax and discounts, relating to the sale of caravans,

accessories and extras and income generated from caravan site operations after adjusting for deferred income

received from caravan site operations.

Goodwill

Goodwill, being the amount paid in connection with the reconstruction of a company in 2006 has not been

written off.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold land and improvements

-

2% on cost

Park homes

-

10% on reducing balance

Machinery and equipment

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Caravan stock is valued at the lower of cost and net realisable value, other stocks are valued at the lower of cost

and net realisable value using the FIFO standard method, after making due allowance for obsolete and slow

moving items.

Financial instruments

The company enters into basic financial instruments that result in the recognition of financial assets and

liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and

loans to related parties.

a) Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the

effective interest method, less impairment losses for bad and doubtful debts except where the effect of

discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for

bad and doubtful debts.

b) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is

recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an

asset's carrying amount and the present value of estimated cash flows discounted at the asset's original

effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any

impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference

between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the

company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors

Debt instruments like loans and other accounts payable are initially measured at present value of the future

payments and subsequently at amortised cost using the effective interest method. Debt instruments that are

payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted

amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term

instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business

terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at

market rate, the financial asset is measured, initially and subsequently, at the present value of the future

payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when

there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis

or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

Pension costs

Contributions in respect of the company's workplace pension scheme are charged to the profit and loss account

for the period in which they relate.

Fixed asset investments

Investments are included in the financial statements at fair value. Gains are recognised in other comprehensive

income. Deferred taxation is provided on these gains.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to

determine whether there is an indication that an asset may be impaired. If there is an indication of possible

impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use

and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable

amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss

is recognised immediately in profit and loss.

Inventories are also assessed for impairment at each reporting date. Each item of inventory is compared to the

last sold date and an impairment loss recognised on a percentage basis in profit and loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is

increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been

determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A

reversal of an impairment loss is recognised immediately in profit and loss.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates

and assumptions about the carrying value of assets and liabilities that are not readily apparent from other

sources. The estimates and underlying assumptions are based on historical experience and other factors that

are considered relevant. Actual results may differ from these estimates. The estimates and underlying

assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period

to which the estimate is revised if the revision affects only that period or in the period of the revision and future

periods if the revision affects both current and future periods. The key sources of estimation uncertainty that

have a significant effect on the amounts recognised in the financial statements are the depreciation charges that

are calculated with reference to the useful economic life of fixed assets.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2016 - 18 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2016

and 31 May 2017

1

NET BOOK VALUE

At 31 May 2017

1

At 31 May 2016

1

6.	TANGIBLE FIXED ASSETS

Freehold

Machinery

land and

Park

and

improvements

homes

equipment

£

£

£

COST

At 1 June 2016

1,077,684

69,827

256,208

Additions

30,296

-

54,115

Disposals

-

-

(16,190

)

At 31 May 2017

1,107,980

69,827

294,133

DEPRECIATION

At 1 June 2016

17,477

43,555

181,931

Charge for year

9,366

2,627

32,109

Eliminated on disposal

-

-

(15,217

)

At 31 May 2017

26,843

46,182

198,823

NET BOOK VALUE

At 31 May 2017

1,081,137

23,645

95,310

At 31 May 2016

1,060,207

26,272

74,277

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 June 2016

132,853

18,895

1,555,467

Additions

1,461

40,250

126,122

Disposals

-

-

(16,190

)

At 31 May 2017

134,314

59,145

1,665,399

DEPRECIATION

At 1 June 2016

85,774

15,533

344,270

Charge for year

7,280

10,903

62,285

Eliminated on disposal

-

-

(15,217

)

At 31 May 2017

93,054

26,436

391,338

NET BOOK VALUE

At 31 May 2017

41,260

32,709

1,274,061

At 31 May 2016

47,079

3,362

1,211,197

Included in cost of land and buildings is freehold land of £ 639,674 (2016 - £ 639,674 ) which is not depreciated.

7.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 June 2016

1,119,278

Revaluations

107,668

At 31 May 2017

1,226,946

NET BOOK VALUE

At 31 May 2017

1,226,946

At 31 May 2016

1,119,278

Cost or valuation at 31 May 2017 is represented by:

Other

investments

£

Valuation in 2010

5,385

Valuation in 2011

12,951

Valuation in 2012

(33,530

)

Valuation in 2013

81,649

Valuation in 2014

4,000

Valuation in 2015

43,923

Valuation in 2016

(20,483

)

Valuation in 2017

105,083

Cost

1,027,968

1,226,946

8.

STOCKS

31.5.17

31.5.16

£

£

Stock - caravans

68,879

48,142

Stock - postage stamps

387

321

Stock - bottled gas etc

1,307

1,162

Stock - liquid gas

215

488

Stock - accessories and extras

6,231

4,146

77,019

54,259

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Debtors and prepayments

141,676

120,132

Directors' current accounts

5,396

-

147,072

120,132

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Creditors

206,812

231,540

Receipts in advance

381,676

368,988

Directors' current accounts

1,488

2,039

589,976

602,567

11.	DIRECTORS' ADVANCES

The following advances to directors subsisted a director subsisted during the years ended 31 May 2017 and

31 May 2016:

31.5.17

31.5.16

£

£

Mr W G Boggia

Balance outstanding at start of year

-

-

Amounts advanced

5,396

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,396

-