1.
General Information
Bidsid Ltd
is a private company, limited by shares, incorporated in England & Wales. The company's registered number and registered office address can be found on the Company information page.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
|
2.4.
Investment Properties
All investment properties are carried at fair value determined on the most recent valaution and derived from the current market rents and investment property yields for comparable real estate. No depreciation is provided for. Changes in fair value are recognised in the Statement of Income and Retained Earnings.
2.5.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
Bidsid Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
4.
Tangible Assets
| Fixtures & Fittings | |
|---|---|
| £ | |
| Cost | |
| As at 1 September 2024 |
|
| As at 31 August 2025 |
|
| Depreciation | |
| As at 1 September 2024 |
|
| Provided during the period |
|
| As at 31 August 2025 |
|
| Net Book Value | |
| As at 31 August 2025 |
|
| As at 1 September 2024 |
|
5.
Investment Property
| 2025 | |
|---|---|
| £ | |
| Fair Value | |
| As at 1 September 2024 |
|
| Additions |
|
| As at 31 August 2025 |
|
|
Fair Value at 31st August 2025 and 31st August 2024 is represented by:
|
2025
|
2024
|
|
|
£
|
£
|
||
|
Valuation in 2022
|
229,490
|
229,940
|
|
|
Cost
|
3,590,440
|
3,513,940
|
|
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
|
||
|
3,819,930
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
3,743,430
|
6.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
|
|
|
| Other debtors |
|
|
|
| Amounts owed by joint-ventures |
|
|
|
|
|
|
||
Bidsid Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
7.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Corporation tax |
|
|
|
| VAT |
|
|
|
| Directors' loan accounts |
|
|
|
| Amounts owed to joint ventures | - |
|
|
|
|
|
||
8.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other loans |
|
|
|
9.
Secured Creditors
|
An analysis of the maturity of loans given below:
|
2025
|
2024
|
|
|
£
|
£
|
||
|
Amounts falling due within one year or on demand:
|
|||
|
Bank loans
|
7,500
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
<line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
16,923
|
|
|
Amounts falling due between two and five years:
|
|||
|
Other loans
|
2,919,752
|
2,631,142
|
10.
Provisions for Liabilities
| Deferred Tax | Total | |
|---|---|---|
| £ | £ | |
| As at 1 September 2024 |
|
44,195 |
| Utilised |
( |
(520) |
| Balance at 31 August 2025 |
|
43,675 |
Bidsid Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
12.
Reserves
| Fair value reserve | Profit and Loss Account | |
|---|---|---|
| £ | £ | |
| As at 1 September 2024 |
|
|
| Profit for the year and total comprehensive income | - |
|
| As at 31 August 2025 |
|
|
13.
Controlling Party
The ultimate controlling parties of Bidsid Limited are Mr K Chan and Mr H Minhas by virtue of their shareholding and directorship.