Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30No description of principal activity2023-07-01false00truetrue 06028246 2023-07-01 2024-06-30 06028246 2022-07-01 2023-06-30 06028246 2024-06-30 06028246 2023-06-30 06028246 c:Director1 2023-07-01 2024-06-30 06028246 d:CurrentFinancialInstruments 2024-06-30 06028246 d:CurrentFinancialInstruments 2023-06-30 06028246 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 06028246 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 06028246 d:ShareCapital 2024-06-30 06028246 d:ShareCapital 2023-06-30 06028246 d:RetainedEarningsAccumulatedLosses 2024-06-30 06028246 d:RetainedEarningsAccumulatedLosses 2023-06-30 06028246 c:FRS102 2023-07-01 2024-06-30 06028246 c:Audited 2023-07-01 2024-06-30 06028246 c:FullAccounts 2023-07-01 2024-06-30 06028246 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06028246 c:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06028246 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 06028246









EASTSIDE LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
EASTSIDE LIMITED
REGISTERED NUMBER: 06028246

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

  

  

Creditors: amounts falling due within one year
 6 
(988,308)
(988,308)

Net current liabilities
  
 
 
(988,308)
 
 
(988,308)

  

Net liabilities
  
(988,308)
(988,308)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(988,310)
(988,310)

  
(988,308)
(988,308)


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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Gary Hilton Sacks
Director

Date: 17 March 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
EASTSIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Eastside Limited (the "Company") is a private company limited by share capital, incorporated under the UK Companies Act 1985 and domiciled in England. The address of the Company's registered office is Regina House, 124 Finchley Road, London, NW3 5JS.

2.Accounting policies

  
2.1

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all reporting periods presented, unless otherwise stated.

 
2.2

Basis of preparation of financial statements

The financial statements of the Company 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 UK Companies Act 2006.
The preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies.
Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.

  
2.3

Functional and presentational currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").
The functional currency of the Company and the currency in which the financial statements are presented (the "presentational currency") is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

 
2.4

Going concern

At the balance sheet date, the Company held net liabilities of £988,308 and is dependent on the continued financial support of its fellow group undertaking, City & Docklands Management Limited, until such time the Company restarts formal trade and establishes an operational process through which revenues generated would yield overall long term profitability.
The board of directors of City & Docklands Management Limited, a member of which is also the director of the Company, have confirmed in said capacity to the Company and on behalf of City & Docklands Management Limited that the current and ongoing intention of City & Docklands Management Limited is for the Company to continue to be provided with appropriate financial support where considered necessary such that the Company would be able to meet any third party debts as they should fall due and for no demand for repayment of any amounts owed by the Company to its fellow group undertakings to be made until such time as the Company can repay them.
 
Page 2

 
EASTSIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.4
Going concern (continued)

In preparing these financial statements the director is therefore of the opinion that there is a reasonable expectation that the Company shall have adequate financial resources available at its disposal to continue in operational existence for the foreseeable future.
While there will always remain inherent uncertainty, the director has no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern and therefore considers it both appropriate to continue to adopt the going concern basis in preparing the Company's financial statements and to not recognise any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form.
Financial assets and liabilities are recognised in the balance sheet upon becoming party to the contractual provisions of the instrument. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. 
Financial liabilities are derecognised only when the Company’s obligations are discharged, cancelled or expired.
The measurement of specific financial assets, financial liabilities and equity is as outlined below:
Creditors
Creditors deemed to be short term in nature are initially measured and subsequently held at transaction price (i.e fair value). 
Equity
Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value. Where the transaction price for issued shares exceeds their nominal value, the difference is shown under equity in a share premium account with any directly attributable transaction costs associated with the issuing of said shares deducted from said share premium account.

Page 3

 
EASTSIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the director is required to apply judgment and make estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other available sources based on historical experience and other factors that are considered to be relevant. Consequently, actual results may differ from that originally estimated.
In the opinion of the director, there were no judgments, estimates and/or assumptions made in applying the principal accounting policies, outlined in note 2 of these financial statements, towards the preparation of these financial statements that may be considered as having a significant risk of causing a material adjustment to the carrying amount of assets and/or liabilities carried forward as at the balance sheet date where by which the actual future outcome observed may differ from that originally determined and reported.


4.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).

The average monthly number of employees, including directors, during the year was 0 (2023 - 0).


5.


Cash and cash equivalents




6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
988,308
988,308


Amounts owed to group undertakings amounting to £975,310 (2023: £975,310) are unsecured, incur basic interest at the official rate of interest enacted by HM Revenue & Customs in respect of beneficial loan arrangements and are repayable on demand with no fixed date of repayment.
All other amounts owed to group undertakings are unsecured, interest-free and repayable on demand with no fixed date of repayment.


7.


Financial instruments

The Company held no financial instruments that would require specific disclosure under sections 1.12, 11 or 12 of Financial Reporting Standard 102 and paragraph 36 of Schedule 1 to the Companies Act 2006.

Page 4

 
EASTSIDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Related party transactions

The Company has taken advantage of exemptions provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions undertaken or balances carried forward as at the balance sheet date between the Company and its fellow wholly-owned group undertakings.
There were no other related party transactions and/or period end balances to report in accordance with the UK Companies Act 2006 and Section 1A of Financial Reporting Standard 102 as part of these financial statements.


9.


Controlling party

The immediate parent undertaking is City & Docklands Property Holdings Limited, a company incorporated under the UK Companies Act 1985, which holds a 100% interest in the issued share capital of the Company.
The parent undertaking of the smallest group to consolidate these financial statements is Landeck Services Limited, a company incorporated under the BVI Business Companies Act and whose registered office is located at Craigmuir Chambers, Road Town, Tortola, British Virgin Islands.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:

The existence of a material uncertainty which may cast significant doubt about the Company’s ability to continue as a going concern and note 2.4 of the financial statements which explained the sole director's basis in light of this uncertainty for continuing to adopt the going concern basis in preparing the Company's financial statements.

The audit report was signed on 17 March 2025 by Richard Paul (senior statutory auditor) on behalf of Nyman Libson Paul LLP.

 
Page 5