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Registered number: OC313974 GC BANKSIDE LLP FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 OCTOBER 2025
GC BANKSIDE LLP REGISTERED NUMBER: OC313974 BALANCE SHEET AS AT 31 OCTOBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Current assets |  |  |  |  |
Stocks | 5 | 2,144,286 |  | 2,498,333 |
Debtors: amounts falling due within one year | 6 | 211,821 |  | 178,992 |
Cash at bank and in hand | 7 | 251,044 |  | 131,506 |
|  | 2,607,151 |  | 2,808,831 |
Creditors: Amounts Falling Due Within One Year | 8 | (243,313) |  | (210,773) |
Net current assets |  |  | 2,363,838 |  | 2,598,058
Total assets less current liabilities |  |  | 2,363,838 |  | 2,598,058
Net assets |  |  | 2,363,838 |  | 2,598,058
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Other amounts | 9 |  | 2,363,838 |  | 2,598,058
|  |  | 2,363,838 |  | 2,598,058
|  |  | 2,363,838 |  | 2,598,058
Total members' interests |  |  |  |  |
Loans and other debts due to members | 9 |  | 2,363,838 |  | 2,598,058
|  |  | 2,363,838 |  | 2,598,058
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GC BANKSIDE LLP REGISTERED NUMBER: OC313974 BALANCE SHEET (CONTINUED) AS AT 31 OCTOBER 2025 The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime. The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime. The financial statements were approved and authorised for issue by the members and were signed on their behalf by:
Clan Bankside LLP
Designated member
Date: 30 July 2026
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GC BANKSIDE LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
1. | General information
GC Bankside LLP is a Limited Liability Partnership incorporated in England and Wales (company number OC313974). Its registered office is 101 New Cavendish Street,1st Floor South, London, England, United Kingdom, W1W 6XH. The functional and presentation currency of the LLP is considered to be the British Pound (£). 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. 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.
| 2.2 | Going concern
In assessing the ability of the LLP to operate as a going concern, designated members have evaluated current and forecasted operational results, and the solvency of the LLP. Based on the current projections, the designated members have assessed that the LLP has adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements.
| 2.3 | Revenue
Revenue represents amounts received in relation to ground rents. These amounts are recognised in the period the ground rents are due. Other income received in the period relates to the grant of new leases.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | Division and distribution of profits
A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period. An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making. The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in the Profit and Loss Account. In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically. Page 3
GC BANKSIDE LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 2.Accounting policies (continued)
| 2.6 | Stocks
Costs incurred within the development are capitalised so long as the members anticipate that expected future revenues will match the costs incurred. Stocks are therefore stated at the lower of cost and net realisable value. The development is completed with no further development costs anticipated.
| 2.7 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.8 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the LLP's accounting policies, which are described in note 2, the Members are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Stock The key judgement area is the recoverability of the development property which is held as stock. The Members have taken into account the future expected sales value based on the current London property market when assessing the value of the stock held at year end.
4. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
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GC BANKSIDE LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
5. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Work in progress (goods to be sold) | 2,144,286 | 2,498,333
|  | 2,144,286 | 2,498,333
| The carrying value of stock are stated net of impairment losses totalling £1,234,752 (2024: £880,705). Impairment losses totalling £354,047 (2024: £489,707) were recognised in profit and loss.
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 3,600 | 3,800
| Other debtors | 205,963 | 172,934
| Prepayments and accrued income | 2,258 | 2,258
|  | 211,821 | 178,992
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 251,044 | 131,506
|  | 251,044 | 131,506
8. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 1,182 | -
| Other creditors | 205,963 | 172,934
| Accruals and deferred income | 36,168 | 37,839
|  | 243,313 | 210,773
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GC BANKSIDE LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
9. | Loans and other debts due to members
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other amounts due to members | 2,363,838 | 2,598,058
|  | 2,363,838 | 2,598,058
Loans and other debts due to members may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Falling due within one year | 2,363,838 | 2,598,058
|  | 2,363,838 | 2,598,058
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
10. | Related party transactions
During the year, the LLP incurred financial management fees of £2,400 (2024: £2,400) payable to Buccleuch Property Investment Managers Limited, a subsidiary of one of the designated members of Clan Bankside LLP. As at 31 October 2025 an amount of £2,400 (2024: £2,400) was outstanding.
11. | Controlling party
In the opinion of the members, the LLP is owned equally by Clan Bankside LLP and Bankside 4 Limited, with neither party having overall control, both of which are incorporated in the UK.
12. | Auditors' information
The auditors' report on the financial statements for the year ended 31 October 2025 was unqualified. The audit report was signed on 30 July 2026 by Neville Newman (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.
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