Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312022-11-01falseNo description of principal activity22falsetrue OC313974 2022-11-01 2023-10-31 OC313974 2021-11-01 2022-10-31 OC313974 2023-10-31 OC313974 2022-10-31 OC313974 c:CurrentFinancialInstruments 2023-10-31 OC313974 c:CurrentFinancialInstruments 2022-10-31 OC313974 c:CurrentFinancialInstruments c:WithinOneYear 2023-10-31 OC313974 c:CurrentFinancialInstruments c:WithinOneYear 2022-10-31 OC313974 d:FRS102 2022-11-01 2023-10-31 OC313974 d:Audited 2022-11-01 2023-10-31 OC313974 d:FullAccounts 2022-11-01 2023-10-31 OC313974 d:LimitedLiabilityPartnershipLLP 2022-11-01 2023-10-31 OC313974 d:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 OC313974 d:PartnerLLP2 2022-11-01 2023-10-31 OC313974 c:FurtherSpecificReserve3ComponentTotalEquity 2023-10-31 OC313974 c:FurtherSpecificReserve3ComponentTotalEquity 2022-10-31 iso4217:GBP xbrli:pure

Registered number: OC313974









GC BANKSIDE LLP









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
GC BANKSIDE LLP
REGISTERED NUMBER: OC313974

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 5 
3,000,000
3,000,000

Debtors: amounts falling due within one year
 6 
146,470
71,700

Cash at bank and in hand
 7 
375,311
284,221

  
3,521,781
3,355,921

Creditors: amounts falling due within one year
 8 
(176,630)
(142,910)

Net current assets
  
 
 
3,345,151
 
 
3,213,011

Total assets less current liabilities
  
3,345,151
3,213,011

  

Net assets
  
3,345,151
3,213,011


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
3,345,151
3,213,011

  
3,345,151
3,213,011

  

  
3,345,151
3,213,011


Total members' interests
  

Loans and other debts due to members
  
3,345,151
3,213,011

  
3,345,151
3,213,011

Page 1

 
GC BANKSIDE LLP
REGISTERED NUMBER: OC313974
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

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

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




................................................
Clan Bankside LLP
Designated member

Date: 10 July 2024

The notes on pages 3 to 6 form part of these financial statements.
Page 2

 
GC BANKSIDE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

GC Bankside LLP is a Limited Liability Partnership incorporated in England and Wales (company number OC313974). Its registered office is 101 New Cavendish Street,1st Floor South, London, England, United Kingdom, W1W 6XH.
The functional and presentation currency of the partnership is considered to be the British Pound (£). 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

 
2.2

Going concern

In assessing the ability of the LLP to operate as a going concern, designated members have evaluated current and forecasted operational results, and the solvency of the LLP. Based on the current projections, the designated members have assessed that the LLP has adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements.

 
2.3

Revenue

Revenue represents amounts received in relation to ground rents. These amounts are recognised in the period the ground rents are due. Other income received in the period relates to sale of storage units.

  
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Stocks

Costs incurred within the development are capitalised so long as the members anticipate that expected future revenues will match the costs incurred. Stocks are therefore stated at the lower of cost and net realisable value. The development is completed with no further development costs anticipated. 

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
GC BANKSIDE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. 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 in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, which are described in note 1, the Members are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be 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 in 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. 
Stock
The key judgement area is the recoverability of the development property which is held as stock. The Members have taken into account the future expected sales value based on the current London property market when assessing the value of the stock held at year end.


4.


Employees

The average monthly number of employees, including members, during the year was 2 (2022 - 2).

Page 4

 
GC BANKSIDE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Stocks

2023
2022
£
£

Work in progress (goods to be sold)
3,000,000
3,000,000

3,000,000
3,000,000


The carrying value of stock are stated net of impairment losses totalling £390,998 (2022 - £390,998). Impairment losses totalling £Nil (2022 - £390,998)were recognised in profit and loss.


6.


Debtors

2023
2022
£
£


Trade debtors
3,600
3,043

Other debtors
140,612
34,399

Prepayments and accrued income
2,258
34,258

146,470
71,700



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
375,311
284,221

375,311
284,221



8.


Creditors: amounts falling due within one year

2023
2022
£
£

Other creditors
141,160
106,148

Accruals and deferred income
35,470
36,762

176,630
142,910


Page 5

 
GC BANKSIDE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
3,345,151
3,213,011

3,345,151
3,213,011

Loans and other debts due to members may be further analysed as follows:

2023
2022
£
£



Falling due within one year
3,345,151
3,213,011

3,345,151
3,213,011

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.


10.


Related party transactions

During the year the LLP incurred costs of £nil (2022: £nil) payable to Clan Bankside LLP, a
designated member of the LLP. As at 31 October 2023 an amount of £nil (2022: £nil) was outstanding
and is included within amounts owed to related parties.
During the year, the LLP incurred financial management fees of £2,400 (2022: £2,400) payable to Buccleuch Property Investment Managers Limited, a subsidiary of one of the designated members of Clan Bankside LLP. As at 31 October 2023 an amount of £2,400 (2022: £2,400) was outstanding.


11.


Controlling party

In the opinion of the members, the company is owned equally by Clan Bankside LLP and Bankside 4 Limited, with neither party having overall control, both of which are incorporated in the UK.

12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 October 2023 was unqualified.

The audit report was signed on 10 July 2024 by Nicholas Newman (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.

 
Page 6