REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 December 2023 |
for |
East Quayside Management Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
East Quayside Management Limited (Registered number: 02776562) |
Balance Sheet |
29 December 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Profit and loss account | ( |
) |
( |
) |
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. |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Other debtors |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |