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Registered number: 10363667
The Tors Management Company Limited
Directors' Report and
Financial Statements
For The Year Ended 30 September 2023
Directors' Report and Financial Statements
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Income and Expenditure Account 4
Balance Sheet 5
Notes to the Financial Statements 6
Page 1
Company Information
Directors Mr O M O'Callaghan
Mrs J M Pearce
Miss R Z Drewett
Mr R D Powell
Mr W F Schirn
Secretary Mr D T Edwards
Company Number 10363667
Registered Office 53 Bampton Street
Tiverton
Devon
EX16 6AL
Accountants SMV Associates Ltd
4 Cedar Court
Tiverton Business Park
Tiverton
Devon
EX16 6GT
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 30 September 2023.
Principal Activity
The company's principal activity continues to be the management of the open spaces in The Tors, Bovey Tracey.
Directors
The directors who held office during the year were as follows:
Mr D T Edwards Resigned 29/11/2023
Mr O M O'Callaghan
Mrs J M Pearce
Miss R Z Drewett
Mr R D Powell
Mr W F Schirn
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr R D Powell
Director
30 March 2024
Page 2
Page 3
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of The Tors Management Company Limited for the year ended 30 September 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of The Tors Management Company Limited which comprise the Income and Expenditure Account, the 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 of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of The Tors Management Company Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Tors Management Company Limited and state those matters that we have agreed to state to the directors of The Tors Management Company Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Tors Management Company Limited and its directors as a body for our work or for this report.
It is your duty to ensure that The Tors Management Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of The Tors Management Company Limited . You consider that The Tors Management Company 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 accounts of The Tors Management Company 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 financial statements.
Signed
3 April 2024
SMV Associates Ltd
4 Cedar Court
Tiverton Business Park
Tiverton
Devon
EX16 6GT
Page 3
Page 4
Income and Expenditure Account
2023 2022
Notes £ £
TURNOVER 8,155 10,000
GROSS SURPLUS 8,155 10,000
Administrative expenses (6,390 ) (6,662 )
OPERATING SURPLUS 1,765 3,338
Other interest receivable and similar income 63 1
SURPLUS FOR THE FINANCIAL YEAR 1,828 3,339
The notes on page 6 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 5,316 3,884
Cash at bank and in hand 17,993 17,785
23,309 21,669
Creditors: Amounts Falling Due Within One Year 5 (2,943 ) (3,131 )
NET CURRENT ASSETS (LIABILITIES) 20,366 18,538
TOTAL ASSETS LESS CURRENT LIABILITIES 20,366 18,538
NET ASSETS 20,366 18,538
Income and Expenditure Account 20,366 18,538
MEMBERS' FUNDS 20,366 18,538
For the year ending 30 September 2023 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr R D Powell
Director
30 March 2024
The notes on page 6 form part of these financial statements.
Page 5
Page 6
Notes to the Financial Statements
1. General Information
The Tors Management Company Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 10363667 . The registered office is 53 Bampton Street, Tiverton, Devon, EX16 6AL.
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 consists of fees and charges received from residents of the properties surrounding the open spaces.
2.3. Taxation
There is no corporation tax liability as the company's business consists of the management, on a non profit making basis, of the open space for the owners of the properties surrounding the open spaces.
3. Average Number of Employees
The average number of employees, including directors, during the year was NIL (2022: NIL)
- -
4. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,104 3,719
Prepayments and accrued income 3,146 22
Sundry debtors 66 143
5,316 3,884
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,330 2,669
Other creditors 133 -
Accruals and deferred income 480 462
2,943 3,131
6. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 6