REGISTERED NUMBER: 13275828 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

CHANNELSIDE HOLDINGS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N J Hodgson

Mr R Shannon

REGISTERED OFFICE:

Unit 3-4 Daltongate Business Centre

Ulverston

United Kingdom

Cumbria

LA12 7AJ

REGISTERED NUMBER:

13275828 (England and Wales)

BANKERS:

Lloyds Bank plc

48 High Street

Newmarket

Suffolk

CB8 8LF

FIXED ASSETS

Tangible assets

4

5,221

6,961

Investment property

5

377,500

292,252

382,721

299,213

CURRENT ASSETS

Debtors

-

91

Cash at bank

2,654

4,016

2,654

4,107

CREDITORS

Amounts falling due within one year

88,193

56,928

NET CURRENT LIABILITIES

(85,539

)

(52,821

)

TOTAL ASSETS LESS CURRENT LIABILITIES

297,182

246,392

CREDITORS

Amounts falling due after more than one year

(250,704

)

(254,928

)

PROVISIONS FOR LIABILITIES

(16,197

)

-

NET ASSETS/(LIABILITIES)

30,281

(8,536

)

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

30,279

(8,538

)

SHAREHOLDERS' FUNDS

30,281

(8,536

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2025 and were signed on its behalf by:

Mr R Shannon - Director

1.	STATUTORY INFORMATION

Channelside Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern basis.

Turnover

Turnover represents net invoiced rental income, excluding VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Investment property

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the profit or loss.

The directors have assessed the valuations of the properties as at 31st March 2025 at £377,500, increasing the value by £85,248, previously the properties had been included cost on the balance sheet, recent professional valuations for bank borrowing have been used to supplement the directors own existing knowledge of the property market.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

8,701

DEPRECIATION

At 1 April 2024

1,740

Charge for year

1,740

At 31 March 2025

3,480

NET BOOK VALUE

At 31 March 2025

5,221

At 31 March 2024

6,961

5.	INVESTMENT PROPERTY

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the profit or loss.

The directors have assessed the valuations of the properties as at 31st March 2025 at £377,500, increasing the value by £85,248, previously the properties had been included cost on the balance sheet, recent professional valuations for bank borrowing have been used to supplement the directors own existing knowledge of the property market.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

377,500

If investment property had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

292,252

-

Investment property was valued on an open market basis on 31 March 2025 by Mr R Shannon .

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Mortgage

250,704

250,714

Shawbrook Bank Limited holds a fixed and negative charge over the freehold property 17 Ainslie Street and 40 Bath Street, including the land, building and contents.

Charter Court Financial Services Limited hold a fixed charge and negative pledge on 40 Bath Street.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

2

Ordinary

£1

2

2

8.	RELATED PARTY DISCLOSURES

As at 31st March 2025 the company had a loan of £23,962 (2024:£21,719) from RJS Lettings Limited and company owned and controlled by Mr R Shannon

As at 31st March 2025 the company had a loan of £7,203 (2024: (£91)) to Coastal Lettings Limited and company owned and controlled by Mr R Shannon and Mr N Hodgson.