For the financial year ended 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 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Chesterfield Waterside Limited is a private company limited by shares incorporated in England and Wales. The registered office is 36 The Bridge Business Centre, Beresford Way, Chesterfield, Derbyshire, S41 9FG.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The results for the company show a trueloss for the year of £16,834 (2024 loss: £31,652) and a deficit in shareholders' funds of £405,595 (2024 deficit: £388,761). Included within liabilities are amounts due to related companies of £8,326,779 (2024: £8,207,176).

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future based on the continued financial support of its shareholders. The directors are confident that the company has sufficient working capital to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements.

Turnover represents property development sales to outside customers, recognised upon legal completion.    

Turnover is recognised at the fair value of the consideration received or receivable in the normal course of business, and is shown net of VAT and other sales related taxes.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks comprise development costs incurred in relation to the Chesterfield Waterside Regeneration project. Cost comprises direct costs and appropriate overheads including borrowing costs.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated net realisable value is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors and loans from fellow group related parties are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Due to the nature of development timescales, it is routinely necessary to review stock values.

In order to assess the appropriateness of the carrying value of stock, the company is required to make estimations of sales prices, costs and expected margins on developments in order to determine whether any write-downs or reversals are required to ensure stock is stated at the lower of cost and net realisable value.

As part of this exercise the directors consider when the stock value is likely to be realised, whether there has been a change in market conditions and the wider economic environment existing at the balance sheet date.

The average monthly number of persons (including directors) employed by the company during the year was:

The only employees in the year were the directors and they did not receive any remuneration.

Other creditors represent amounts owed to related parties, details of which are disclosed in note 9.

Save in relation to income, the A Shares, B Shares and C Shares shall rank pari passu in all respects.

During the year the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

Laver Regeneration Limited

M R Bower is a director of Laver Regeneration Limited. At the year end an amount of £5,490,855 (2024: £5,437,946) was owed to Laver Regeneration Limited. The loan element of the balance bears interest at 5% per annum and the total interest charged in the year was £ 52,909 (2024: £40,735).

Bolsterstone Group Limited

P D Swallow is a director and indirectly owns all of the share capital of Bolsterstone Group Limited. At the year end, an amount of £964,184 (2024: £934,227) was owed to Bolsterstone Group Limited. The loan bears interest at 5% per annum and the total interest charged in the year was £29,957 (2024: £29,937).

Chesterfield Waterfront Limited

P D Swallow and M R Bower are both directors of Chesterfield Waterfront Limited. Repayments of £55,000 were made in the year. At the year end an amount of £1,860,167 (2024: £1,823,928) was owed to Chesterfield Waterfront Limited. The loan bears interest at 5% per annum and the total interest charged in the year was £91,238 (2024: £93,116).

Bolsterstone (Chesterfield) LLP

P D Swallow is a member of Bolsterstone (Chesterfield) LLP. At the year end an amount of £11,574 (2024: £11,076) was owed to Bolsterstone (Chesterfield) LLP. The loan bears interest at 5% per annum and the total interest charged in the year was £499 (2024: £499)

Rent of £8,000 (2024: £8,000) is paid to P D Swallow a director of Chesterfield Waterside Limited.

The company is a joint venture between Bolsterstone Group Limited, Laver Regeneration Limited and Chesterfield Borough Council for the purpose of property development. Each party holds 40.5%, 40.5% and 19% respectively of the company's issued share capital.