Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-282024-07-28Development of building projects2023-07-29false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08161494 2023-07-29 2024-07-28 08161494 2022-07-29 2023-07-28 08161494 2024-07-28 08161494 2023-07-28 08161494 2022-07-29 08161494 c:Director1 2023-07-29 2024-07-28 08161494 d:MotorVehicles 2023-07-29 2024-07-28 08161494 d:MotorVehicles 2024-07-28 08161494 d:MotorVehicles 2023-07-28 08161494 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-29 2024-07-28 08161494 d:OfficeEquipment 2023-07-29 2024-07-28 08161494 d:OfficeEquipment 2024-07-28 08161494 d:OfficeEquipment 2023-07-28 08161494 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-29 2024-07-28 08161494 d:OwnedOrFreeholdAssets 2023-07-29 2024-07-28 08161494 d:FreeholdInvestmentProperty 2023-07-29 2024-07-28 08161494 d:FreeholdInvestmentProperty 2024-07-28 08161494 d:FreeholdInvestmentProperty 2023-07-28 08161494 d:CurrentFinancialInstruments 2024-07-28 08161494 d:CurrentFinancialInstruments 2023-07-28 08161494 d:Non-currentFinancialInstruments 2024-07-28 08161494 d:Non-currentFinancialInstruments 2023-07-28 08161494 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-28 08161494 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-28 08161494 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-28 08161494 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-28 08161494 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-07-28 08161494 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-28 08161494 d:ShareCapital 2023-07-29 2024-07-28 08161494 d:ShareCapital 2024-07-28 08161494 d:ShareCapital 2022-07-29 2023-07-28 08161494 d:ShareCapital 2023-07-28 08161494 d:ShareCapital 2022-07-29 08161494 d:RetainedEarningsAccumulatedLosses 2023-07-29 2024-07-28 08161494 d:RetainedEarningsAccumulatedLosses 2024-07-28 08161494 d:RetainedEarningsAccumulatedLosses 2022-07-29 2023-07-28 08161494 d:RetainedEarningsAccumulatedLosses 2023-07-28 08161494 d:RetainedEarningsAccumulatedLosses 2022-07-29 08161494 d:AcceleratedTaxDepreciationDeferredTax 2024-07-28 08161494 d:AcceleratedTaxDepreciationDeferredTax 2023-07-28 08161494 c:FRS102 2023-07-29 2024-07-28 08161494 c:AuditExempt-NoAccountantsReport 2023-07-29 2024-07-28 08161494 c:FullAccounts 2023-07-29 2024-07-28 08161494 c:PrivateLimitedCompanyLtd 2023-07-29 2024-07-28 08161494 6 2023-07-29 2024-07-28 iso4217:GBP xbrli:pure

Registered number: 08161494









BANKSIDE GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 JULY 2024

 
BANKSIDE GROUP LIMITED
REGISTERED NUMBER: 08161494

BALANCE SHEET
AS AT 28 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
18,236
21,405

Investments
 5 
2
-

Investment property
 6 
-
1,726,606

  
18,238
1,748,011

Current assets
  

Debtors: amounts falling due within one year
 7 
1,286,242
1,170,417

Cash at bank and in hand
 8 
91,765
28,252

  
1,378,007
1,198,669

Creditors: amounts falling due within one year
 9 
(1,561,378)
(568,070)

Net current (liabilities)/assets
  
 
 
(183,371)
 
 
630,599

Total assets less current liabilities
  
(165,133)
2,378,610

Creditors: amounts falling due after more than one year
 10 
(22,060)
(2,404,855)

Provisions for liabilities
  

Deferred tax
 12 
(4,185)
(5,352)

  
 
 
(4,185)
 
 
(5,352)

Net liabilities
  
(191,378)
(31,597)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(191,380)
(31,599)

  
(191,378)
(31,597)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

Page 1

 
BANKSIDE GROUP LIMITED
REGISTERED NUMBER: 08161494
    
BALANCE SHEET (CONTINUED)
AS AT 28 JULY 2024

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 on 28 July 2025.




Ms S L Honey
Director

The notes on pages 4 to 11 form part of these financial statements.
Page 2

 
BANKSIDE GROUP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 29 July 2022
2
116,451
116,453


Comprehensive income for the year

Loss for the year

-
(148,050)
(148,050)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(148,050)
(148,050)


Total transactions with owners
-
-
-



At 29 July 2023
2
(31,599)
(31,597)


Comprehensive income for the year

Loss for the year

-
(159,781)
(159,781)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(159,781)
(159,781)


Total transactions with owners
-
-
-


At 28 July 2024
2
(191,380)
(191,378)


The notes on pages 4 to 11 form part of these financial statements.
Page 3

 
BANKSIDE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JULY 2024

1.


General information

The Company is a private company limited by share capital, incorporated in England & Wales. The principal activity of the Company is the development of building projects.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
BANKSIDE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JULY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
BANKSIDE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JULY 2024

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

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.

 
2.10

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. 

 
2.11

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.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

Page 6

 
BANKSIDE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JULY 2024

2.Accounting policies (continued)

 
2.13

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 and creditors, loans from banks and other third parties and loans to and from related parties. 


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
2
2


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 29 July 2023
83,665
821
84,486


Additions
-
2,911
2,911



At 28 July 2024

83,665
3,732
87,397



Depreciation


At 29 July 2023
62,520
561
63,081


Charge for the year on owned assets
5,287
793
6,080



At 28 July 2024

67,807
1,354
69,161



Net book value



At 28 July 2024
15,858
2,378
18,236



At 28 July 2023
21,145
260
21,405

Page 7

 
BANKSIDE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JULY 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
2



At 28 July 2024
2




The Company has a 100% investment in Bankside Lofts Limited, a company registered in England and Wales.


6.


Investment property


Freehold investment property

£


At 29 July 2023
1,726,606


Disposals
(1,726,606)



At 28 July 2024
-

The Company has transferred its investment properties to its subsidiary company Bankside Lofts Limited.







Page 8

 
BANKSIDE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JULY 2024

7.


Debtors

2024
2023
£
£


Amounts owed by related parties
100,103
-

Other debtors
1,186,139
1,170,417

1,286,242
1,170,417



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
91,765
28,252

91,765
28,252



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
4,831
4,831

Trade creditors
9,283
-

Amounts owed to subsidiary company
1,199,576
-

Amounts owed to related parties
-
86,723

Other creditors
342,198
468,026

Accruals and deferred income
5,490
8,490

1,561,378
568,070



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
22,060
2,404,855

22,060
2,404,855




Page 9

 
BANKSIDE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JULY 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
4,831
4,831


4,831
4,831

Amounts falling due 1-2 years

Bank loans
22,060
2,404,855


22,060
2,404,855



26,891
2,409,686



12.


Deferred taxation




2024


£






At beginning of year
(5,352)


Charged to profit or loss
1,167



At end of year
(4,185)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(4,185)
(5,352)

(4,185)
(5,352)

Page 10

 
BANKSIDE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JULY 2024

13.


Related party transactions

At the year end the Company owed £1,199,576 (2023: £206,520) to Bankside Lofts Limited. On 11 June 2024 Bankside Lofts Limited became a subsidiary of Bankside Group Limited.
Included in amounts owed to related parties is £152,159 (2023: £169,632) owed by Mill Lofts Limited and £52,056 (£54,169) owed to Elephant & City Limited. These companies are related to Bankside Group Limited by common directorship and overlapping shareholding up until 11 June 2024. 


14.


Controlling party

The director Ms S L Honey is the controlling party as she owns all the issued shares of the Company. 
 
Page 11