Company Registration No. 14772630 (England and Wales)
LEASIDE WHARF LTD
Unaudited accounts
for the year ended 31 March 2025
LEASIDE WHARF LTD
Unaudited accounts
Contents
LEASIDE WHARF LTD
Company Information
for the year ended 31 March 2025
Directors
Jacob Friedman
David Margulies
Company Number
14772630 (England and Wales)
Registered Office
16C URBAN HIVE
THEYDON ROAD
LONDON
E5 9BQ
ENGLAND
LEASIDE WHARF LTD
Statement of financial position
as at 31 March 2025
Tangible assets
64,846
64,846
Investment property
3,735,003
3,735,003
Cash at bank and in hand
16,407
7,825
Creditors: amounts falling due within one year
(1,258,632)
(1,282,482)
Net current liabilities
(1,234,940)
(1,260,507)
Total assets less current liabilities
2,564,909
2,539,342
Creditors: amounts falling due after more than one year
(2,737,108)
(2,737,108)
Net liabilities
(172,199)
(197,766)
Called up share capital
100
100
Profit and loss account
(172,299)
(197,866)
Shareholders' funds
(172,199)
(197,766)
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by
Jacob Friedman
Director
Company Registration No. 14772630
LEASIDE WHARF LTD
Notes to the Accounts
for the year ended 31 March 2025
LEASIDE WHARF LTD is a private company, limited by shares, registered in England and Wales, registration number 14772630. The registered office is 16C URBAN HIVE, THEYDON ROAD, LONDON, E5 9BQ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern, notwithstanding the company's net current liabilities. As at the date of approval of the financial statements, one of the company’s principal creditors is a related party who has pledged to continue to make available such funds as are required by the company.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Accounting Estimates and Judgements
Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows:
Property valuation
The valuation of the company's investment property is inherently subjective, depending on many factors including the nature of the property, its location and expected future net rental values. Therefore the valuation is subject to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.
Trade and other debtors
Management uses available evidence of the credit status of the counterparty in making judgements concerning any need to impair the carrying value of any amounts due to the company.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
LEASIDE WHARF LTD
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 April 2024
3,735,003
At 31 March 2025
3,735,003
Investment property fair values are based on a valuation of the company’s property portfolio carried out on 2 May 2023 by Eddisons Commercial Limited, who are not connected with the company. The directors are of the opinion that there has been no material change between the date of the valuation and the 31st March 2025.
The properties were transferred at fair value from it's parent company - FM Assets Ltd.
Amounts falling due within one year
Trade debtors
7,285
14,150
7
Creditors: amounts falling due within one year
2025
2024
Trade creditors
16,666
17,000
Amounts owed to group undertakings and other participating interests
1,107,119
1,107,119
Other creditors
134,247
156,193
Included in creditors is £1,241,366 due to related companies in which Mr Margulies & Mr Friedman, directors of this company are also directors.
The bank loan of £2,737,108 is secured by legal charges over the company's investment properties.
8
Creditors: amounts falling due after more than one year
2025
2024
Bank loans
2,737,108
2,737,108
LEASIDE WHARF LTD
Notes to the Accounts
for the year ended 31 March 2025
9
Average number of employees
During the year the average number of employees was 0 (2024: 0).