East Quayside (Newcastle) Management Company Limited Company accounts

COMPANY REGISTRATION NUMBER: 03919020

EAST QUAYSIDE (NEWCASTLE) MANAGEMENT COMPANY LIMITED

Company Limited by Guarantee

UNAUDITED FINANCIAL STATEMENTS

31 December 2024

EAST QUAYSIDE (NEWCASTLE) MANAGEMENT COMPANY LIMITED

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

Contents	Page

Officers and professional advisers	1

Directors' report	2

Statement of comprehensive income	3

Statement of financial position	4

Statement of changes in equity	6

Notes to the financial statements	7

EAST QUAYSIDE (NEWCASTLE) MANAGEMENT COMPANY LIMITED

COMPANY LIMITED BY GUARANTEE

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	Dr N A Dipper
	Prof O R Hinton
	Mr B L Knighting

Registered office	c/o George F White
	Dean Street Arch
	22 Dean Street
	Newcastle upon Tyne
	NE1 1PG

Accountants	Hendersons
	Chartered accountants
	Sterling House
	Brunswick Industrial Estate
	Wideopen
	Newcastle upon Tyne
	NE13 7BA

Bankers	Barclays Bank plc
	Leicester
	LE87 2BB

EAST QUAYSIDE (NEWCASTLE) MANAGEMENT COMPANY LIMITED

COMPANY LIMITED BY GUARANTEE

DIRECTORS' REPORT

YEAR ENDED 31 DECEMBER 2024

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2024 .

Directors

The directors who served the company during the year were as follows:

Dr N A Dipper
Prof O R Hinton
Mr B L Knighting

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 18 September 2025 and signed on behalf of the board by:

Dr N A Dipper

Director

Registered office:

c/o George F White

Dean Street Arch

22 Dean Street

Newcastle upon Tyne

NE1 1PG

EAST QUAYSIDE (NEWCASTLE) MANAGEMENT COMPANY LIMITED

COMPANY LIMITED BY GUARANTEE

STATEMENT OF COMPREHENSIVE INCOME

YEAR ENDED 31 DECEMBER 2024

	2024	2023
Note	£	£

Turnover	218,344	193,246

	---------	---------
Gross profit	218,344	193,246

Administrative expenses	( 211,877)	( 167,184)
	---------	---------
Operating profit	6,467	26,062

Other interest receivable and similar income	5	2,656	2,899
Interest payable and similar expenses	6	( 2,954)	( 4,493)
		---------	---------
Profit before taxation		6,169	24,468

Tax on profit	( 3,017)	( 5,280)
	-------	--------
Profit for the financial year	3,152	19,188
	-------	--------

Transfer from/(to) reserve fund	( 3,152)	( 19,188)
	-------	--------
Total comprehensive income for the year	–	–
	-------	--------

All the activities of the company are from continuing operations.

EAST QUAYSIDE (NEWCASTLE) MANAGEMENT COMPANY LIMITED

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	7		134,184		134,184

Current assets

Debtors	8	5,197	10,173
Cash at bank and in hand		164,732	172,622
		---------	---------
		169,929	182,795

Creditors: Amounts falling due within one year	9	( 285,064)		( 280,300)
		---------		---------
Net current liabilities			( 115,135)		( 97,505)
			---------		---------
Total assets less current liabilities			19,049		36,679

Creditors: Amounts falling due after more than one year	10	( 19,049)	( 36,679)
		--------	--------
Net liabilities		–	–
		--------	--------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

EAST QUAYSIDE (NEWCASTLE) MANAGEMENT COMPANY LIMITED

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 18 September 2025 , and are signed on behalf of the board by:

Dr N A Dipper

Director

Company registration number: 03919020

EAST QUAYSIDE (NEWCASTLE) MANAGEMENT COMPANY LIMITED

COMPANY LIMITED BY GUARANTEE

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 31 DECEMBER 2024

	Profit and loss account
	£

At 1 January 2023		–

Profit for the year		19,188
Other comprehensive income for the year:
	Transfer from/(to) reserve fund	( 19,188)

At 31 December 2023		–

Profit for the year		3,152
Other comprehensive income for the year:
	Transfer from/(to) reserve fund	( 3,152)

		--------
At 31 December 2024		–
		--------

EAST QUAYSIDE (NEWCASTLE) MANAGEMENT COMPANY LIMITED

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is c/o George F White, Dean Street Arch, 22 Dean Street, Newcastle upon Tyne, NE1 1PG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in Sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable in respect of service charges, ground rent and other amounts charged to residents.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Company limited by guarantee

The company is limited by guarantee, not having a share capital. In the event of a winding up the liability of each member is limited to an amount not exceeding £1.

5. Other interest receivable and similar income

	2024	2023
	£	£

Interest on loans and receivables	2,656	2,899
	-------	-------

6. Interest payable and similar expenses

	2024	2023
	£	£

Interest on debenture loans	2,954	4,268
Other interest payable and similar charges	–	225
	-------	-------
	2,954	4,493
	-------	-------

7. Tangible assets

	Freehold investment property
	£

Cost
At 1 January 2024 and 31 December 2024	134,184
	---------
Depreciation
At 1 January 2024 and 31 December 2024	–
	---------
Carrying amount
At 31 December 2024	134,184
	---------
At 31 December 2023	134,184
	---------

The directors are of the opinion that the fair value of the property is not significantly different from its cost. The directors are not professionally qualified valuers and their valuation was arrived at by reference to market evidence of similar property sales in its location.

8. Debtors

	2024	2023
	£	£

Trade debtors	–	4,837
Other debtors	5,197	5,336
	-------	--------
	5,197	10,173
	-------	--------

9. Creditors: Amounts falling due within one year

	2024	2023
	£	£

Trade creditors	9,100	5,281
Corporation tax	3,017	3,127
Other creditors	272,947	271,892
	---------	---------
	285,064	280,300
	---------	---------

10. Creditors: Amounts falling due after more than one year

	2024	2023
	£	£

Other creditors	19,049	36,679
	--------	--------