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COMPANY REGISTRATION NUMBER: 03517790

RIVERSIDE ASSOCIATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

31 March 2025

RIVERSIDE ASSOCIATES LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

CONTENTS | PAGE

Officers and professional advisers | 1

Directors' report | 2

Profit and loss account | 3

Balance sheet | 4

Notes to the financial statements | 6

The following pages do not form part of the financial statements

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements | 12

RIVERSIDE ASSOCIATES LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

THE BOARD OF DIRECTORS | Mr D Oestreicher
| Mrs P Oestreicher

COMPANY SECRETARY | Mrs P Oestreicher

REGISTERED OFFICE | New Burlington House
| 1075 Finchley Road
| London
| NW11 0PU

ACCOUNTANTS | Cohen Arnold
| Chartered accountants
| New Burlington House
| 1075 Finchley Road
| London
| NW11 0PU

RIVERSIDE ASSOCIATES LIMITED

DIRECTORS' REPORT

YEAR ENDED 31 MARCH 2025
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2025 .
DIRECTORS
The directors who served the company during the year were as follows:

Mr D Oestreicher |
Mrs P Oestreicher |

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 19 March 2026 and signed on behalf of the board by:

Mr D Oestreicher
Director

RIVERSIDE ASSOCIATES LIMITED

PROFIT AND LOSS ACCOUNT

YEAR ENDED 31 MARCH 2025

| 2025 | 2024
Note | £ | £
TURNOVER | 266,142 | 195,914

Cost of sales | ( 80,661) | ( 55,950)
| ---------- | ----------
GROSS PROFIT | 185,481 | 139,964

Administrative expenses | ( 168,963) | ( 126,578)
Other operating income | 6,000 | 3,245
Profit/(loss) upon the disposal of investment property | ( 31,494) | –
| ---------- | ----------
OPERATING (LOSS)/PROFIT | ( 8,976) | 16,631

Income from other fixed asset investments | 36,850 | –
Other interest receivable and similar income | 5 | 6,425 | 20,416
Interest payable and similar expenses | 6 | ( 9,759) | ( 30,042)
| ---------- | ----------
PROFIT BEFORE TAXATION | 24,540 | 7,005

Tax on profit | ( 14,652) | ( 1,750)
| --------- | -------
PROFIT FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME | 9,888 | 5,255
| --------- | -------

Dividends paid and payable | ( 143,000) | ( 156,500)

RETAINED EARNINGS AT THE START OF THE YEAR | 7,855,992 | 8,007,237
| ------------- | -------------
RETAINED EARNINGS AT THE END OF THE YEAR | 7,722,880 | 7,855,992
| ------------- | -------------

All the activities of the company are from continuing operations.

RIVERSIDE ASSOCIATES LIMITED

BALANCE SHEET

31 March 2025

| 2025 | 2024
Note | £ | £ | £

FIXED ASSETS

Tangible assets | 7 |  | 3,742,315 | 3,314,200
Investments | 8 |  | 4,472 | 4,472
|  | ------------- | -------------
|  | 3,746,787 | 3,318,672

CURRENT ASSETS

Debtors | 9 | 7,427,480 |  | 6,109,951
Cash at bank and in hand | 1,475,510 |  | 2,570,989
| ------------- |  | -------------
| 8,902,990 |  | 8,680,940

CREDITORS: amounts falling due within one year | 10 | ( 4,687,433) |  | ( 3,898,460)
| ------------- |  | -------------
NET CURRENT ASSETS |  | 4,215,557 | 4,782,480
|  | ------------- | -------------
TOTAL ASSETS LESS CURRENT LIABILITIES |  | 7,962,344 | 8,101,152

CREDITORS: amounts falling due after more than one year | 11 |  | ( 95,364) | ( 101,060)

PROVISIONS

Deferred taxation |  | ( 144,000) | ( 144,000)
|  | ------------- | -------------
NET ASSETS |  | 7,722,980 | 7,856,092
|  | ------------- | -------------

CAPITAL AND RESERVES

Called up share capital |  | 100 | 100
Profit and loss account |  | 7,722,880 | 7,855,992
|  | ------------- | -------------
SHAREHOLDERS FUNDS |  | 7,722,980 | 7,856,092
|  | ------------- | -------------

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 March 2025 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 .

RIVERSIDE ASSOCIATES LIMITED

BALANCE SHEET (continued)

31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 19 March 2026 , and are signed on behalf of the board by:

Mr D Oestreicher
Director

Company registration number: 03517790

RIVERSIDE ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is New Burlington House, 1075 Finchley Road, London, NW11 0PU.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 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: (i) 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, market yields and comparable market transactions. 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. (ii) Trade and other debtors Management uses details of the age of trade and other debtors and the status of any disputes together with external evidence of the credit status of the counterparty in making judgements concerning any need to impair the carrying value.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Investment properties
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost. Subsequent to initial recognition - Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in the profit and loss account in the period that they arise; and - No depreciation is provided in respect of investment properties applying the fair value model. This treatment, as regards the company's investment properties, may be a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. Acquisitions and disposals of properties Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the financial statements accordingly.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures and fittings | - | 20% reducing balance

No depreciation is provided in the accounts for Freehold Properties. This departure from the requirements of the Companies Act 2006, for all properties to be depreciated, is necessary, as the directors consider that this accounting policy results in the financial statements giving a true and fair view. Low value items of furniture and fittings are written off in the year in which they are acquired.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 5 (2024: 5 ).
5. OTHER INTEREST RECEIVABLE AND SIMILAR INCOME

| 2025 | 2024
| £ | £
Interest on loans and receivables | – | 20,286
Interest on cash and cash equivalents | 6,425 | 130
| ------- | ---------
| 6,425 | 20,416
| ------- | ---------

6. INTEREST PAYABLE AND SIMILAR EXPENSES

| 2025 | 2024
| £ | £
Interest on banks loans and overdrafts | 9,759 | 30,042
| ------- | ---------

7. TANGIBLE ASSETS

| Freehold property | Fixtures and fittings | Total
| £ | £ | £
Fair value |  |  |
At 1 April 2024 | 3,314,200 | 12,791 | 3,326,991
Additions | 628,115 | – | 628,115
Disposals | ( 200,000) | – | ( 200,000)
| ------------- | --------- | -------------
At 31 March 2025 | 3,742,315 | 12,791 | 3,755,106
| ------------- | --------- | -------------
Depreciation |  |  |
At 1 April 2024 and 31 March 2025 | – | 12,791 | 12,791
| ------------- | --------- | -------------
Carrying amount |  |  |
At 31 March 2025 | 3,742,315 | – | 3,742,315
| ------------- | --------- | -------------
At 31 March 2024 | 3,314,200 | – | 3,314,200
| ------------- | --------- | -------------

The historical cost of the properties is £ 2,590,120 (2024: £2,243,231). Investment property fair value is determined by the Directors based on their understanding of property market conditions and the specific property concerned, using a sales valuation approach, derived from recent comparable transactions on the market, adjusted by applying discounts to reflect status of occupation and condition.
8. INVESTMENTS

| Shares in group undertakings | Other investments other than loans | Total
| £ | £ | £
Cost |  |  |
At 1 April 2024 and 31 March 2025 | 1 | 4,471 | 4,472
| ---- | ------- | -------
Impairment |  |  |
At 1 April 2024 and 31 March 2025 | – | – | –
| ---- | ------- | -------

Carrying amount |  |  |
At 31 March 2025 | 1 | 4,471 | 4,472
| ---- | ------- | -------
At 31 March 2024 | 1 | 4,471 | 4,472
| ---- | ------- | -------

9. DEBTORS

| 2025 | 2024
| £ | £
Trade debtors | 10,994 | 10,415
Other debtors | 7,416,486 | 6,099,536
| ------------- | -------------
| 7,427,480 | 6,109,951
| ------------- | -------------

10. CREDITORS: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 6,002 | 5,999
Corporation tax | 14,652 | 344
Other creditors | 4,666,779 | 3,892,117
| ------------- | -------------
| 4,687,433 | 3,898,460
| ------------- | -------------

11. CREDITORS: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 95,364 | 101,060
| --------- | ----------

Bank loans and overdrafts are secured by legal charges over the Company's investment properties.
12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
Other debtors include amounts aggregating £276,900 due from the directors of the company. Interest at a rate of 2.25% was charged on these amounts.
13. RELATED PARTY TRANSACTIONS
Mr D Oestreicher together with his wife own a controlling interest in the issued Share Capital of the Company. Included in other debtors is £7,085,830 due from companies connected with the directors. Included in other creditors is £4,661,779 due to companies connected with the directors.

RIVERSIDE ASSOCIATES LIMITED

MANAGEMENT INFORMATION

YEAR ENDED 31 MARCH 2025
The following pages do not form part of the financial statements.

RIVERSIDE ASSOCIATES LIMITED

CHARTERED ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RIVERSIDE ASSOCIATES LIMITED

YEAR ENDED 31 MARCH 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Riverside Associates Limited for the year ended 31 March 2025, which comprise the profit and loss account, balance sheet and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Riverside Associates Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Riverside Associates Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Riverside Associates Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Riverside Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Riverside Associates Limited. You consider that Riverside Associates Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Riverside Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Cohen Arnold Chartered accountants
New Burlington House 1075 Finchley Road London NW11 0PU
19 March 2026