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Registered Number: 13348994
England and Wales

 

 

 

GMWATCH LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
Directors Jonathan Matthews
Claire Robinson
Registered Number 13348994
Registered Office 99 Brentwood Road
Brighton
BN1 7ET
Accountants Acorn Financial Solutions Limited
99 Brentwood Road
Brighton
East Sussex
BN1 7ET
1
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of GMWATCH LTD for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of GMWATCH LTD for the year ended 30 April 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of GMWATCH LTD , as a body, in accordance with the terms of our engagement letter dated 02 July 2024. Our work has been undertaken solely to prepare for your approval the accounts of GMWATCH LTD and state those matters that we have agreed to state to the Board of Directors of GMWATCH LTD , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GMWATCH LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that GMWATCH LTD 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 of GMWATCH LTD . You consider that GMWATCH LTD 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 GMWATCH LTD . 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 statutory accounts
30 April 2024


Acorn Financial Solutions Limited
99 Brentwood Road
Brighton
East Sussex
BN1 7ET
02 July 2024
2
  2024   2023
    £ £   £ £
Fixed assets   1,300     
Current assets 106,298      106,294   
Creditors: amount falling due within one year (107,293)     (106,051)  
Net current assets   (995)     243 
Total assets less current liabilities   305      243 
Net assets   305      243 
 

         
Capital and reserves   305      243 
 
NOTES TO THE ACCOUNTS

General Information
GMWATCH LTD is a private company, limited by guarantee, registered in England and Wales, registration number 13348994, registration address 99 Brentwood Road, Brighton, BN1 7ET.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that due to incoming grants and donations, the company is on a sound financial basis and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the donations and grants from individuals and organisations.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).

3.

Company Limited by Guarantee

The company is limited by guarantee and therefore has no shares.

For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 02 July 2024 and were signed on its behalf by:


--------------------------------
Claire Robinson
Director
3