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Registered number: 09557258
WATERSIDE WAY LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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WATERSIDE WAY LIMITED
REGISTERED NUMBER: 09557258
BALANCE SHEET
AS AT 30 SEPTEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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WATERSIDE WAY LIMITED
REGISTERED NUMBER: 09557258
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2026.
The notes on pages 3 to 7 form part of these financial statements.
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WATERSIDE WAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Waterside Way Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office address is Leytonstone House, 3 Hanbury Drive, London, E11 1GA.
The principal activity of the company during the period was that of property investment.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
The accounts have been prepared on a going concern basis. The company is dependent on the continued support of its bankers and other creditors, which includes parties under common control. At the time of approval of these financial statements the directors are of the opinion that the company will continue in operation for the foreseeable future.
The Company's only source of revenue is rental income from investment properties let to third parties. Revenue is recognised in the accounting period in which the services are rendered.
Revenue represents the amount receivable for services rendered, net of returns, discounts and rebates allowed by the Company.
Investment property is carried at fair value determined annually by the directors or external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income, with unrealised gains over original cost being transferred to a separate revaluation reserve.
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.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
The Company only enters into basic financial instruments transactions that result in the recognition
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WATERSIDE WAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
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.
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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WATERSIDE WAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
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Freehold investment property
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A formal valuation was undertaken by Colliers International Property Consultants Limited on 14 July 2023, on an open market value for existing use basis. The directors consider the above valuation to be accurate at 30 September 2025.
The historic cost of the investment properties is £4,502,428 (2024 - £4,502,428).
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Amounts owed by group undertakings
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Prepayments and accrued income
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WATERSIDE WAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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The bank borrowings are secured on the investment properties and by floating charges over all other property, rights and assets both present and future.
During 2019, the bank loan was repaid in full and a new loan was received by the parent company, Lee Valley Estates Limited, which was subsequently allocated around the Group. The Company is liable to pay interest on it's portion of the loan and this is paid quarterly in line with the loan agreement. The loan received by the parent company is cross guaranteed by all companies in the Group that received the funds and is secured on assets held by such companies and by floating charges over all other property, rights and assets both present and future. Please see note 10 for further information.
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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WATERSIDE WAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Revaluation reserve
The revaluation reserve represents unrealised valuation gains of investment property.
Profit and loss account
The profit and loss account represents cumulative distributable profits and losses net of dividends and other adjustments.
During 2019 the parent company, Lee Valley Estates Limited, received a bank facility for £22,000,000. These funds were subsequently allocated between the subsidiaries within the Group. The Company received £4,068,743 (2024 - £2,825,384) of this loan. The loan received by the parent company is cross guaranteed by all companies in the Group that received the funds and is secured on assets held by such companies.
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Related party transactions
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Included within other debtors are amounts of £298,271 (2024 - £156,400) due from companies under common control.
Included within other creditors are amounts of £530,297 (2024 - £1,627,286) due to companies under common control. these balances are unsecured, interest free and repayable on demand.
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Directors' benefits: advances, credits and guarantees
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The immediate parent company is Lee Valley Estates Limited. The ultimate controlling party is considered to be M Polledri.
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