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REGISTERED NUMBER: 03166213 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 JUNE 2023

FOR

WAY GROUP LIMITED

WAY GROUP LIMITED (REGISTERED NUMBER: 03166213)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WAY GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: R E Green
P Wilcox





SECRETARY:





REGISTERED OFFICE: Cedar House 3 Cedar Park
Cobham Road
Wimborne
Dorset
BH21 7SB





REGISTERED NUMBER: 03166213 (England and Wales)





ACCOUNTANTS: Elson Geaves Accountants
Chartered Certified Accountants
Forest Links Road
Ferndown
Dorset
BH22 9PH

WAY GROUP LIMITED (REGISTERED NUMBER: 03166213)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 24,060
Investments 5 888,537 659,500
888,537 683,560

CURRENT ASSETS
Debtors 6 1,481,038 5,498,235
Cash at bank 5,250 50,204
1,486,288 5,548,439
CREDITORS
Amounts falling due within one year 7 53,865 51,486
NET CURRENT ASSETS 1,432,423 5,496,953
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,320,960

6,180,513

CREDITORS
Amounts falling due after more than one
year

8

2,250,186

5,332,891
NET ASSETS 70,774 847,622

CAPITAL AND RESERVES
Called up share capital 1,384,381 1,384,381
Share premium 600,673 600,673
Revaluation reserve 229,037 -
Other reserves 400,000 400,000
Retained earnings (2,543,317 ) (1,537,432 )
70,774 847,622

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WAY GROUP LIMITED (REGISTERED NUMBER: 03166213)

BALANCE SHEET - continued
30 JUNE 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2024 and were signed on its behalf by:





P Wilcox - Director


WAY GROUP LIMITED (REGISTERED NUMBER: 03166213)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Way Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer Software - 33% on cost
Office Equipment - 10% on cost
Computer equipment - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

WAY GROUP LIMITED (REGISTERED NUMBER: 03166213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 140,345
Disposals (140,345 )
At 30 June 2023 -
DEPRECIATION
At 1 July 2022 116,285
Eliminated on disposal (116,285 )
At 30 June 2023 -
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 24,060

5. FIXED ASSET INVESTMENTS
Interest
Shares in in other
group participating
undertakings interests Totals
£    £    £   
COST OR VALUATION
At 1 July 2022 400,000 259,500 659,500
Revaluations - 229,037 229,037
At 30 June 2023 400,000 488,537 888,537
NET BOOK VALUE
At 30 June 2023 400,000 488,537 888,537
At 30 June 2022 400,000 259,500 659,500


WAY GROUP LIMITED (REGISTERED NUMBER: 03166213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 391,011 4,295,246
Other debtors 1,090,027 1,127,989
1,481,038 5,423,235

Amounts falling due after more than one year:
Other debtors - 75,000

Aggregate amounts 1,481,038 5,498,235

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 38,570 31,750
Taxation and social security - 50
Other creditors 15,295 19,686
53,865 51,486

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 2,240,000 5,332,891
Other creditors 10,186 -
2,250,186 5,332,891

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Advances totalling £480,000 were made to two directors in 2017. Interest at market rates is being charged and paid on these advances. Repayment of £4,573.40 was made between July 2022 and June 2023..Overall balance is £350,000.

WAY GROUP LIMITED (REGISTERED NUMBER: 03166213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

10. RELATED PARTY DISCLOSURES

Summary of transaction with subsidiary companies

WAY Investment Services Limited

The companies share overhead costs which are charged as appropriate. At the balance sheet date the amount owed from WAY Investment Services Limited was £319,273 (2022 - £4,001,388).

WAY Trustees Limited

The companies share overhead costs which are charged as appropriate. At the balance sheet date the amount owed from WAY Trustees Limited was £71,738 (2022 - £271,531) and the amount due to WAY Trustees Limited was £Nil (2022 - £Nil).


Summary of transactions with Companies Under Common Ownership

Professional Partners Administration Limited

At the balance sheet date the amount due to Professional Partners Administration Limited was £nil (2022 - £2,922,016 and the amount due from Professional Partners Administration Limited was £642,531 (2022: £623,000).


WAY Fund Managers Limited

At the balance sheet date the amount due to WAY Fund Managers Limited was £Nil (2022- £405,875) and the amount due from WAY Fund Managers Limited was £21,196 (2022 - £14,837).
-
Formal Inter Group Loans

At the balance sheet date the amounts due to Group companies was £Nil (2022: £60,000).