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Company No: 06458000 (England and Wales)

WREN LETTING LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

WREN LETTING LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

WREN LETTING LIMITED

BALANCE SHEET

As at 31 January 2025
WREN LETTING LIMITED

BALANCE SHEET (continued)

As at 31 January 2025
Note 2025 2024
£ £
Fixed assets
Intangible assets 3 72,990 79,490
Tangible assets 4 7,256 71,824
Investments 5 27 28
80,273 151,342
Current assets
Debtors 6 71,265 38,603
Cash at bank and in hand 25,085 17,572
96,350 56,175
Creditors: amounts falling due within one year 7 ( 97,992) ( 68,713)
Net current liabilities (1,642) (12,538)
Total assets less current liabilities 78,631 138,804
Creditors: amounts falling due after more than one year 8 ( 25,352) ( 94,061)
Net assets 53,279 44,743
Capital and reserves
Called-up share capital 9 4 4
Profit and loss account 53,275 44,739
Total shareholders' funds 53,279 44,743

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Wren Letting Limited (registered number: 06458000) were approved and authorised for issue by the Board of Directors on 01 May 2025. They were signed on its behalf by:

Mr T E G SLADE
Director
WREN LETTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
WREN LETTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wren Letting Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Saxon Centre, 11 Bargates, Christchurch, BH23 1PZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Vehicles 20 % reducing balance
Fixtures and fittings 5 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 February 2024 168,589 168,589
Additions 2,824 2,824
At 31 January 2025 171,413 171,413
Accumulated amortisation
At 01 February 2024 89,099 89,099
Charge for the financial year 9,324 9,324
At 31 January 2025 98,423 98,423
Net book value
At 31 January 2025 72,990 72,990
At 31 January 2024 79,490 79,490

4. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 February 2024 1,312 68,140 16,942 22,690 109,084
Additions 0 0 615 1,160 1,775
Disposals 0 ( 68,140) 0 0 ( 68,140)
At 31 January 2025 1,312 0 17,557 23,850 42,719
Accumulated depreciation
At 01 February 2024 66 6,814 13,552 16,828 37,260
Charge for the financial year 131 0 1,837 3,049 5,017
Disposals 0 ( 6,814) 0 0 ( 6,814)
At 31 January 2025 197 0 15,389 19,877 35,463
Net book value
At 31 January 2025 1,115 0 2,168 3,973 7,256
At 31 January 2024 1,246 61,326 3,390 5,862 71,824

5. Fixed asset investments

Investments in subsidiaries

2025
£
Cost
At 01 February 2024 1
Disposals ( 1)
At 31 January 2025 0
Carrying value at 31 January 2025 0
Carrying value at 31 January 2024 1

Listed investments Total
£ £
Cost or valuation before impairment
At 01 February 2024 27 27
At 31 January 2025 27 27
Carrying value at 31 January 2025 27 27
Carrying value at 31 January 2024 27 27

6. Debtors

2025 2024
£ £
Trade debtors 18,147 12,573
Other debtors 53,118 26,030
71,265 38,603

7. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans 5,501 5,365
Trade creditors 12,837 4,498
Amounts owed to Group undertakings 2,300 2,300
Corporation tax 39,894 25,472
Other taxation and social security 23,288 21,126
Obligations under finance leases and hire purchase contracts 0 6,109
Other creditors 14,172 3,843
97,992 68,713

There are no amounts included above in respect of which any security has been given by the small entity.

8. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans 25,352 30,858
Obligations under finance leases and hire purchase contracts 0 58,203
Other creditors 0 5,000
25,352 94,061

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
2 A ordinary shares of £ 1.00 each 2 2
1 B ordinary share of £ 1.00 1 1
1 C ordinary share of £ 1.00 1 1
4 4

10. Financial commitments

Commitments

Capital commitments are as follows:

2025 2024
£ £
Contracted for but not provided for:
Finance leases entered into 22,053 3,409

Total future minimum lease payments under non-cancellable operating leases are as follows:

2025 2024
£ £
within one year 9,000 9,000
between one and five years 7,500 16,500
16,500 25,500

This lease payments relates to rent of premises

11. Related party transactions

Transactions with the entity's directors

2025 2024
£ £
Key Management 16,279 15,173