Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 true 1 July 2023 30 June 2024 30 June 2024 08557661 Mr D T Edwards Mrs J M Pearce Mr G P Harvey Ms A Bracken Welden & Edwards Estate Management Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08557661 2023-06-30 08557661 2024-06-30 08557661 2023-07-01 2024-06-30 08557661 frs-core:CurrentFinancialInstruments 2024-06-30 08557661 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 08557661 frs-bus:CompanyLimitedByGuarantee 2023-07-01 2024-06-30 08557661 frs-bus:FullAccounts 2023-07-01 2024-06-30 08557661 frs-bus:SmallEntities 2023-07-01 2024-06-30 08557661 frs-bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08557661 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 08557661 frs-bus:SmallCompaniesRegimeForDirectorsReport 2023-07-01 2024-06-30 08557661 frs-bus:Director1 2023-07-01 2024-06-30 08557661 frs-bus:Director2 2023-07-01 2024-06-30 08557661 frs-bus:Director3 2023-07-01 2024-06-30 08557661 frs-bus:Director4 2023-07-01 2024-06-30 08557661 frs-bus:Director4 2024-06-30 08557661 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 08557661 frs-core:CurrentFinancialInstruments 1 2024-06-30 08557661 frs-countries:EnglandWales 2023-07-01 2024-06-30 08557661 2022-06-30 08557661 2023-06-30 08557661 2022-07-01 2023-06-30 08557661 frs-core:CurrentFinancialInstruments 2023-06-30 08557661 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 08557661 frs-core:CurrentFinancialInstruments 1 2023-06-30
Registered number: 08557661
Gilbert Way Management Company Limited
Directors' Report and
Financial Statements
For The Year Ended 30 June 2024
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 D T Edwards
Mrs J M Pearce
Mr G P Harvey
Ms A Bracken
Secretary Welden & Edwards Estate Management Limited
Company Number 08557661
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 June 2024.
Principal Activity
The company's principal activity during the year continued to be the management of 41 Apartments, 4 Duplex Units and 59 Houses in Gilbert Scott Way, Tiverton.
Directors
The directors who held office during the year were as follows:
Mr D T Edwards
Mrs J M Pearce
Mr G P Harvey
Ms A Bracken Appointed 23/04/2024
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 D T Edwards
Director
21 August 2024
Page 2
Page 3
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Gilbert Way Management Company Limited for the year ended 30 June 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Gilbert Way 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 Gilbert Way 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 Gilbert Way Management Company Limited and state those matters that we have agreed to state to the directors of Gilbert Way 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 Gilbert Way Management Company Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Gilbert Way 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 Gilbert Way Management Company Limited . You consider that Gilbert Way 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 Gilbert Way 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
21 August 2024
SMV Associates Ltd
4 Cedar Court
Tiverton Business Park
Tiverton
Devon
EX16 6GT
Page 3
Page 4
Income and Expenditure Account
2024 2023
Notes £ £
TURNOVER 33,711 33,588
GROSS SURPLUS 33,711 33,588
Administrative expenses (26,169 ) (19,028 )
OPERATING SURPLUS 7,542 14,560
Other interest receivable and similar income 909 134
SURPLUS FOR THE FINANCIAL YEAR 8,451 14,694
The notes on page 6 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 27,579 23,405
Cash at bank and in hand 76,076 71,442
103,655 94,847
Creditors: Amounts Falling Due Within One Year 5 (1,695 ) (1,338 )
NET CURRENT ASSETS (LIABILITIES) 101,960 93,509
TOTAL ASSETS LESS CURRENT LIABILITIES 101,960 93,509
NET ASSETS 101,960 93,509
Income and Expenditure Account 101,960 93,509
MEMBERS' FUNDS 101,960 93,509
For the year ending 30 June 2024 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 D T Edwards
Director
21 August 2024
The notes on page 6 form part of these financial statements.
Page 5
Page 6
Notes to the Financial Statements
1. General Information
Gilbert Way Management Company Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 08557661 . 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 apartments, duplex units and houses.
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 a housing complex for the owners of the properties.

3. Average Number of Employees
The average number of employees, including directors, during the year was 3 (2023: 3)
3 3
4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,277 8,316
Sundry debtors 19,302 15,089
27,579 23,405
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 684 250
Other creditors 531 -
Sundry creditors - 608
Accruals and deferred income 480 480
1,695 1,338
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