Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-282024-07-28true2023-07-29falseDevelopment of building projects22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08185581 2023-07-29 2024-07-28 08185581 2022-07-29 2023-07-28 08185581 2024-07-28 08185581 2023-07-28 08185581 2022-07-29 08185581 c:Director1 2023-07-29 2024-07-28 08185581 d:FreeholdInvestmentProperty 2023-07-29 2024-07-28 08185581 d:FreeholdInvestmentProperty 2024-07-28 08185581 d:CurrentFinancialInstruments 2024-07-28 08185581 d:CurrentFinancialInstruments 2023-07-28 08185581 d:Non-currentFinancialInstruments 2024-07-28 08185581 d:Non-currentFinancialInstruments 2023-07-28 08185581 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-28 08185581 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-28 08185581 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-28 08185581 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-28 08185581 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-07-28 08185581 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-07-28 08185581 d:ShareCapital 2023-07-29 2024-07-28 08185581 d:ShareCapital 2024-07-28 08185581 d:ShareCapital 2022-07-29 2023-07-28 08185581 d:ShareCapital 2023-07-28 08185581 d:ShareCapital 2022-07-29 08185581 d:RetainedEarningsAccumulatedLosses 2023-07-29 2024-07-28 08185581 d:RetainedEarningsAccumulatedLosses 2024-07-28 08185581 d:RetainedEarningsAccumulatedLosses 2022-07-29 2023-07-28 08185581 d:RetainedEarningsAccumulatedLosses 2023-07-28 08185581 d:RetainedEarningsAccumulatedLosses 2022-07-29 08185581 c:FRS102 2023-07-29 2024-07-28 08185581 c:AuditExempt-NoAccountantsReport 2023-07-29 2024-07-28 08185581 c:FullAccounts 2023-07-29 2024-07-28 08185581 c:PrivateLimitedCompanyLtd 2023-07-29 2024-07-28 iso4217:GBP xbrli:pure

Registered number: 08185581









BANKSIDE LOFTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 JULY 2024

 
BANKSIDE LOFTS LIMITED
REGISTERED NUMBER: 08185581

BALANCE SHEET
AS AT 28 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,726,606
-

  
1,726,606
-

Current assets
  

Stocks
 5 
-
281,901

Debtors: amounts falling due within one year
 6 
1,371,325
-

  
1,371,325
281,901

Creditors: amounts falling due within one year
 7 
(385,241)
(424,026)

Net current assets/(liabilities)
  
 
 
986,084
 
 
(142,125)

Total assets less current liabilities
  
2,712,690
(142,125)

Creditors: amounts falling due after more than one year
  
(2,842,872)
-

  

Net liabilities
  
(130,182)
(142,125)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(130,184)
(142,127)

  
(130,182)
(142,125)


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.

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.

Page 1

 
BANKSIDE LOFTS LIMITED
REGISTERED NUMBER: 08185581
    
BALANCE SHEET (CONTINUED)
AS AT 28 JULY 2024

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 8 form part of these financial statements.

Page 2

 
BANKSIDE LOFTS LIMITED
 

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


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2022
2
(169,465)
(169,463)


Comprehensive income for the year

Profit for the year

-
27,338
27,338


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
27,338
27,338


Total transactions with owners
-
-
-



At 29 July 2023
2
(142,127)
(142,125)


Comprehensive income for the year

Profit for the year

-
11,943
11,943


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
11,943
11,943


Total transactions with owners
-
-
-


At 28 July 2024
2
(130,184)
(130,182)


The notes on pages 4 to 8 form part of these financial statements.

Page 3

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

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Stocks

Properties held in stock are recorded at the lower of cost and net realisable value.



 
2.7

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.

 
2.8

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.

 
2.9

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, loans to related parties and investments in ordinary shares.


3.


Employees

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


        2024
        2023
            No.
            No.







Directors
2
2

Page 5

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

4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
1,726,606



At 28 July 2024
1,726,606









5.


Stocks

2024
2023
£
£

Property stocks
-
281,901

-
281,901



6.


Debtors

2024
2023
£
£


Amounts owed by parent company
1,199,576
-

Other debtors
171,749
-

1,371,325
-


Page 6

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

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,120
6,120

Amounts owed to related parties
277,509
70,989

Other creditors
98,612
342,917

Accruals and deferred income
3,000
4,000

385,241
424,026



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,842,872
-

2,842,872
-



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
2,842,872
-

2,842,872
-

2,842,872
-



10.


Related party transactions

Included in debtors is £1,199,576 (2023: £206,520) owed by Bankside Group Limited. On 11 June 2024 Bankside Group Limited became the parent company of Bankside Lofts Limited. 
Included in creditors is £14,540 (2023: £14,540) owed by Mill Lofts Limited and £292,049 (2023: £292,049) owed to Elephant & City Limited.  These companies are related to Bankside Lofts Limited by common directorship and overlapping shareholding up until 11 June 2024.

Page 7

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

11.


Controlling party

On 11 June 2024, the Company became a wholly owned subsidiary of Bankside Group Limited, a company registered in England & Wales. Bankside Group Limited is wholly owned by Ms S L Honey.

 
Page 8