In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Waterdale Management Ltd for the year ended 31 December 2024 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 us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the board of directors of Waterdale Management Ltd, as a body, in accordance with the terms of our engagement letter dated 22 September 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Waterdale Management Ltd and state those matters that we have agreed to state to the board of directors of Waterdale Management Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://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 Waterdale Management Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Waterdale Management 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 Waterdale Management Ltd. You consider that Waterdale Management 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 financial statements of Waterdale Management 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 financial statements.

For the financial year ended 31 December 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 of its financial statements 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 financial statements.

These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

Waterdale Management Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Waterdale, Shutter Lane, Gotherington, Cheltenham, United Kingdom, GL52 9EZ.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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

Revenue is recognised in the period to which the services relate.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Taxation for the period comprises current 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 statement of financial position date.

The average monthly number of persons (including directors) employed by the company during the year was:

Mrs T Harrison

Director and shareholder

During a previous period, Mrs Harrison advanced money to the company for working capital, some of which was repaid to her during the year. The advance is interest-free, unsecured and repayable on demand. The balance outstanding to Mrs Harrison at the year-end was £1,684 (2023: £4,206).

M Harrison

Director and shareholder

During a previous period, Mr Harrison advanced money to the company for working capital, which was repaid in full during the year. The advance was interest-free, unsecured and repayable on demand. The balance outstanding to Mr Harrison at the year-end was £nil (2023: £1,000).

Centaur Homes Ltd

Related by reason of certain common directors and shareholders

During the year the company charged fees of £112,500 (2024: £175,000) to Centaur Homes Ltd on an arms' length basis. The company loaned £400,000 in a previous period and a further £150,000 during the year to Centaur Homes Ltd. The advance is interest-free, unsecured and repayable on demand. The balance due to the company as at 31 December 2024 was £706,101 (2023: £603,749).