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Company Registration Number: NI066635
 
 
Water's Edge Management Company Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 October 2023



Water's Edge Management Company Ltd
DIRECTORS AND OTHER INFORMATION

 
Directors R T Tracey
J Tracey
 
 
Company Registration Number NI066635
 
 
Registered Office c/o Tracey Brothers Ltd
Drumlyon House
Drumlyon
Enniskillen
Fermanagh
BT74 5TB
 
 
Business Address Tracey Brothers Limited
Drumlyon House
Drumlyon
Enniskillen
Fermanagh
BT74 5TB
Nothern Ireland
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
Antrim
BT1 2LG
 
 
Bankers First Trust Bank
  8 High Street
  Omagh
  Co Tyrone
  BT78 1DG
   
   
  Allied Irish Bank
  Main Street
  Ballyshannon
  Co Donegal



Water's Edge Management Company Ltd

CHARTERED ACCOUNTANTS' REPORT
to the Board of Directors on the Compilation of the unaudited financial statements of Water's Edge Management Company Ltd
for the financial year ended 31 October 2023
 
In accordance with our engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 October 2023 as set out on pages  to 7 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the Board of Directors of Water's Edge Management Company Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Statement of Financial Position for the year ended 31 October 2023 your duty to ensure that Water's Edge Management Company Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Water's Edge Management Company Ltd. You consider that Water's Edge Management Company Ltd is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of Water's Edge Management Company Ltd. For this reason, we have not verified the adequacy, 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 statutory financial statements.
 
 
 
QUARTER
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
Antrim
BT1 2LG
 
11 July 2024



Water's Edge Management Company Ltd
Company Registration Number: NI066635
STATEMENT OF FINANCIAL POSITION
as at 31 October 2023

2023 2022
Notes £ £
 
Current Assets
Receivables 4 14 14
───────── ─────────
Net Current Assets 14 14
───────── ─────────
Total Assets less Current Liabilities 14 14
═════════ ═════════
 
Equity
Called up share capital 14 14
───────── ─────────
Equity attributable to owners of the company 14 14
═════════ ═════════
 
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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.
           
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 11 July 2024 and signed on its behalf by
           
           
________________________________          
R T Tracey          
Director          
           



Water's Edge Management Company Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 October 2023

   
1. General Information
 
Water's Edge Management Company Ltd is a company limited by shares incorporated in Northern Ireland. c/o Tracey Brothers Ltd, Drumlyon House, Drumlyon, Enniskillen, Fermanagh, BT74 5TB is the registered office, which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 October 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Trade and other receivables
Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Employee benefits
The company does not operate a defined contribution pension scheme.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 2, (2022 - 2).
 
  2023 2022
  Number Number
 
Director 2 2
  ═════════ ═════════
       
4. Receivables 2023 2022
  £ £
 
Other debtors 14 14
  ═════════ ═════════
       
5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 October 2023.
   
6. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.