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REGISTERED NUMBER: 02776562 (England and Wales)












Unaudited Financial Statements

for the Year Ended 29 December 2023

for

East Quayside Management Limited

East Quayside Management Limited (Registered number: 02776562)






Contents of the Financial Statements
for the Year Ended 29 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


East Quayside Management Limited

Company Information
for the Year Ended 29 December 2023







DIRECTORS: N J Martin
M P F O'Driscoll
I R Baggett
K A Grant
E J Davies
R Marshall





REGISTERED OFFICE: Sandgate House
102 Quayside
Newcastle Upon Tyne
Tyne and Wear
NE1 3DX





REGISTERED NUMBER: 02776562 (England and Wales)






East Quayside Management Limited (Registered number: 02776562)

Balance Sheet
29 December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 2,011,060 509,552

CREDITORS
Amounts falling due within one year 6 (2,553,314 ) (470,810 )
NET CURRENT (LIABILITIES)/ASSETS (542,254 ) 38,742
TOTAL ASSETS LESS CURRENT
LIABILITIES

(542,254

)

38,742

CAPITAL AND RESERVES
Called up share capital 4,638 4,638
Profit and loss account (546,892 ) 34,104
(542,254 ) 38,742

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2025 and were signed on its behalf by:





E J Davies - Director


East Quayside Management Limited (Registered number: 02776562)

Notes to the Financial Statements
for the Year Ended 29 December 2023

1. STATUTORY INFORMATION

East Quayside Management 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 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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue
Turnover comprises car parking charges to the public and pitch fees.
The company also receives other operating income in the form of service charges.

Revenue is recognised to the extent that it is probable that the above sources of income will flow to the Company and the revenue can be reliably measured.

Service charges and pitch fees are recognised in the period to which the charges relate.

Car park charges to the public are recognised as they are received.

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

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors
Short term debtors are measured at the transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Intangible fixed assets
The company owns the freehold reversionary rights of the land occupied by the multistorey carparks known as Sandgate and St Ann's, Quayside, Newcastle upon Tyne, together with other common parts, such as certain areas of the estate roads and access paths in the areas surrounding the carparks, and certain pitch licences. All licence income arising from these reversionary rights are paid direct to the Estate Management Company, to whom the management of all common parts and the multistorey carparks has been contracted. The income remitted is used to offset service charges payable to the Estate Management Company by the investors in the properties making up the estate.

The directors have confirmed that the rights play such an integral part to the existence of the company, that they could never be sold on the open market and as a result, they do not consider their open market value to be material and are not therefore disclosed at a value in these accounts.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

East Quayside Management Limited (Registered number: 02776562)

Notes to the Financial Statements - continued
for the Year Ended 29 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 245,389 275,579
Other debtors 1,542,408 233,973
Prepayments and accrued income 223,263 -
2,011,060 509,552

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 87,680 87,047
Taxation and social security 247,668 20,799
Other creditors 2,217,966 362,964
2,553,314 470,810