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Company Registration No. 14772630 (England and Wales)
LEASIDE WHARF LTD Unaudited accounts for the period from 31 March 2023 to 31 March 2024
LEASIDE WHARF LTD Unaudited accounts Contents
Page
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LEASIDE WHARF LTD Company Information for the period from 31 March 2023 to 31 March 2024
Directors
Jacob Friedman David Margulies
Company Number
14772630 (England and Wales)
Registered Office
16C URBAN HIVE THEYDON ROAD LONDON E5 9BQ ENGLAND
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LEASIDE WHARF LTD Statement of financial position as at 31 March 2024
2024 
Notes
£ 
Fixed assets
Tangible assets
64,846 
Investment property
3,735,003 
3,799,849 
Current assets
Debtors
106,300 
Cash at bank and in hand
7,825 
114,125 
Creditors: amounts falling due within one year
(1,374,632)
Net current liabilities
(1,260,507)
Total assets less current liabilities
2,539,342 
Creditors: amounts falling due after more than one year
(2,737,108)
Net liabilities
(197,766)
Capital and reserves
Called up share capital
100 
Profit and loss account
(197,866)
Shareholders' funds
(197,766)
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by
Jacob Friedman Director Company Registration No. 14772630
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LEASIDE WHARF LTD Notes to the Accounts for the period from 31 March 2023 to 31 March 2024
1
Statutory information
LEASIDE WHARF LTD is a private company, limited by shares, registered in England and Wales, registration number 14772630. The registered office is 16C URBAN HIVE, THEYDON ROAD, LONDON, E5 9BQ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Going concern
The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern, notwithstanding the company's net current liabilities. As at the date of approval of the financial statements, one of the company’s principal creditors is a related party who has pledged to continue to make available such funds as are required by the company.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Accounting Estimates and Judgements
Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows: Property valuation The valuation of the company's investment property is inherently subjective, depending on many factors including the nature of the property, its location and expected future net rental values. Therefore the valuation is subject to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions. Trade and other debtors Management uses available evidence of the credit status of the counterparty in making judgements concerning any need to impair the carrying value of any amounts due to the company.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
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LEASIDE WHARF LTD Notes to the Accounts for the period from 31 March 2023 to 31 March 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 31 March 2023
- 
Additions
64,846 
At 31 March 2024
64,846 
Depreciation
At 31 March 2024
- 
Net book value
At 31 March 2024
64,846 
5
Investment property
2024 
£ 
Additions
3,735,003 
At 31 March 2024
3,735,003 
Investment property fair values are based on a valuation of the company’s property portfolio carried out on 2 May 2023 by Eddisons Commercial Limited, who are not connected with the company. The directors are of the opinion that there has been no material change between the date of the valuation and the 31st March 2024. The properties were transferred at fair value from it's parent company - FM Assets Ltd.
6
Debtors
2024 
£ 
Amounts falling due within one year
Trade debtors
14,150 
Other debtors
92,150 
106,300 
7
Creditors: amounts falling due within one year
2024 
£ 
Trade creditors
17,000 
Amounts owed to group undertakings and other participating interests
1,107,119 
Other creditors
248,343 
Accruals
2,170 
1,374,632 
Included in other creditors is £1,263,313 due to related companies in which Mr Margulies & Mr Friedman, directors of this company are also directors. The bank loan of £2,737,108 is secured by legal charges over the company's investment properties.
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LEASIDE WHARF LTD Notes to the Accounts for the period from 31 March 2023 to 31 March 2024
8
Creditors: amounts falling due after more than one year
2024 
£ 
Bank loans
2,737,108 
9
Average number of employees
During the period the average number of employees was 0.
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