REGISTERED NUMBER: 03908555 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

For The Year Ended 31st March 2025

for

Wye Commercials Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

Julian Kirk Barnett

Brian George Burson

Pauline Heather Burson

SECRETARY:

Pauline Heather Burson

REGISTERED OFFICE:

Ross Livestock Market

Netherton Road

Overross Industrial Estate

Ross on Wye

Herefordshire

HR9 7QQ

REGISTERED NUMBER:

03908555 (England and Wales)

AUDITORS:

Wildin (Auditors) Limited

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

The directors present their strategic report for the year ended 31st March 2025.

ON BEHALF OF THE BOARD:

Julian Kirk Barnett - Director

21st August 2025

The directors present their report with the financial statements of the company for the year ended 31st March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the sale of commercial vehicles.

DIVIDENDS

The total distribution of dividends for the year ended 31st March 2025 will be £ 834,480 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1st April 2024 to the date of this report.

Julian Kirk Barnett

Brian George Burson

Pauline Heather Burson

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Wildin (Auditors) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Julian Kirk Barnett - Director

21st August 2025

Opinion

We have audited the financial statements of Wye Commercials Limited (the 'company') for the year ended 31st March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31st March 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud , the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risk of material misstatement in respect of irregularities , including fraud, the audit engagement team:

-obtain an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company complying with the legal and regulatory framework;

-inquired of management, those charged with governance, about their own identification and assessment of the risk of irregularities, including an known actual, suspected or alleged instances of fraud;

-inquired of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations by way of data submission report, and whether they are aware of any instances of non-compliance.

-reviewed financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations in direct relation to the company.

- performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

-discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.

As a result of these procedures, we considered the most significant laws and regulations that have a direct impact on the financial statements are FRS 102 the Companies Act 2006 and tax compliance regulations. We performed audit procedures to detect non-compliance which may have a material impact on the financial statements which included reviewing financial statements disclosures, inspecting correspondence with local tax authorities and evaluating advice received from external tax advisors.

The audit engagement team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business. We tested a sample of revenue transactions recognised either side of the reporting date to determine whether revenue was recorded in the correct period.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company's ability to operate or to avoid a material penalty.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors 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 the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jacqueline Anne Mannion FCA, ACCA (Senior Statutory Auditor)

for and on behalf of Wildin (Auditors) Limited

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

21st August 2025

TURNOVER

25,712,273

20,283,403

Cost of sales

23,067,397

18,255,474

GROSS PROFIT

2,644,876

2,027,929

Distribution costs

-

745

Administrative expenses

1,247,582

1,195,267

1,247,582

1,196,012

1,397,294

831,917

Other operating income

16,462

12,000

OPERATING PROFIT

4

1,413,756

843,917

Interest receivable and similar income

128,701

42,568

PROFIT BEFORE TAXATION

1,542,457

886,485

Tax on profit

5

386,476

225,861

PROFIT FOR THE FINANCIAL YEAR

1,155,981

660,624

PROFIT FOR THE YEAR

1,155,981

660,624

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,155,981

660,624

FIXED ASSETS

Tangible assets

7

1,221,491

1,154,837

CURRENT ASSETS

Stocks

8

1,302,441

757,000

Debtors

9

56,834

367,835

Cash at bank and in hand

2,885,607

2,969,618

4,244,882

4,094,453

CREDITORS

Amounts falling due within one year

10

739,275

845,196

NET CURRENT ASSETS

3,505,607

3,249,257

TOTAL ASSETS LESS CURRENT LIABILITIES

4,727,098

4,404,094

PROVISIONS FOR LIABILITIES

11

7,989

6,586

NET ASSETS

4,719,109

4,397,508

CAPITAL AND RESERVES

Called up share capital

12

1,100

1,000

Retained earnings

13

4,718,009

4,396,508

SHAREHOLDERS' FUNDS

4,719,109

4,397,508

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 21st August 2025 and were signed on its behalf by:

Julian Kirk Barnett - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st April 2023

1,000

4,043,473

4,044,473

Changes in equity

Dividends

-

(307,589

)

(307,589

)

Total comprehensive income

-

660,624

660,624

Balance at 31st March 2024

1,000

4,396,508

4,397,508

Changes in equity

Issue of share capital

100

-

100

Dividends

-

(834,480

)

(834,480

)

Total comprehensive income

-

1,155,981

1,155,981

Balance at 31st March 2025

1,100

4,718,009

4,719,109

Cash flows from operating activities

Cash generated from operations

1

832,970

1,516,356

Tax paid

(261,875

)

329

Net cash from operating activities

571,095

1,516,685

Cash flows from investing activities

Purchase of tangible fixed assets

(367,030

)

(692,288

)

Sale of tangible fixed assets

154,198

139,210

Interest received

128,701

42,568

Net cash from investing activities

(84,131

)

(510,510

)

Cash flows from financing activities

Amount withdrawn by directors

263,405

(263,405

)

Share issue

100

-

Equity dividends paid

(834,480

)

(307,589

)

Net cash from financing activities

(570,975

)

(570,994

)

(Decrease)/increase in cash and cash equivalents

(84,011

)

435,181

Cash and cash equivalents at beginning of year

2

2,969,618

2,534,437

Cash and cash equivalents at end of year

2

2,885,607

2,969,618

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.25

31.3.24

£

£

Profit before taxation

1,542,457

886,485

Depreciation charges

111,817

103,015

Loss on disposal of fixed assets

34,360

28,118

Finance income

(128,701

)

(42,568

)

1,559,933

975,050

(Increase)/decrease in stocks

(545,440

)

399,898

Decrease in trade and other debtors

48,510

54,276

(Decrease)/increase in trade and other creditors

(230,033

)

87,132

Cash generated from operations

832,970

1,516,356

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

2,885,607

2,969,618

Year ended 31st March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

2,969,618

2,534,437

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

2,969,618

(84,011

)

2,885,607

2,969,618

(84,011

)

2,885,607

Total

2,969,618

(84,011

)

2,885,607

1.	STATUTORY INFORMATION

Wye Commercials Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

31.3.25

31.3.24

£

£

Wages and salaries

690,280

686,058

Social security costs

45,198

46,030

Other pension costs

6,411

5,502

741,889

737,590

The average number of employees during the year was as follows:

31.3.25

31.3.24

Directors

4

3

Administrative and Other Staff

9

10

13

13

31.3.25

31.3.24

£

£

Directors' remuneration

354,822

324,618

Information regarding the highest paid director is as follows:

31.3.25

31.3.24

£

£

Emoluments etc

209,840

182,054

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.25

31.3.24

£

£

Other operating leases

-

745

Depreciation - owned assets

111,818

103,015

Loss on disposal of fixed assets

34,360

28,118

Auditors Remuneration

4,000

-

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.3.25

31.3.24

£

£

Current tax:

UK corporation tax

385,073

260,961

Prior Year Adjustment/Interest

-

(329

)

Total current tax

385,073

260,632

Deferred tax

1,403

(34,771

)

Tax on profit

386,476

225,861

6.

DIVIDENDS

31.3.25

31.3.24

£

£

Ordinary shares of 1 each

Final

834,480

295,589

Interim

-

12,000

834,480

307,589

7.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

machinery

£

£

£

COST

At 1st April 2024

745,269

211,749

103,269

Additions

-

-

88,390

Disposals

-

-

(5,500

)

At 31st March 2025

745,269

211,749

186,159

DEPRECIATION

At 1st April 2024

-

205,010

57,371

Charge for year

-

6,739

9,941

Eliminated on disposal

-

-

(688

)

At 31st March 2025

-

211,749

66,624

NET BOOK VALUE

At 31st March 2025

745,269

-

119,535

At 31st March 2024

745,269

6,739

45,898

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1st April 2024

68,007

474,488

1,602,782

Additions

9,000

269,640

367,030

Disposals

-

(253,160

)

(258,660

)

At 31st March 2025

77,007

490,968

1,711,152

DEPRECIATION

At 1st April 2024

53,184

132,380

447,945

Charge for year

3,919

91,219

111,818

Eliminated on disposal

-

(69,414

)

(70,102

)

At 31st March 2025

57,103

154,185

489,661

NET BOOK VALUE

At 31st March 2025

19,904

336,783

1,221,491

At 31st March 2024

14,823

342,108

1,154,837

8.

STOCKS

31.3.25

31.3.24

£

£

Stocks

1,302,441

757,000

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade Debtors

37,669

87,876

Directors' current accounts

-

263,405

Tax

914

-

Prepayments

18,251

16,554

56,834

367,835

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade Creditors

178,992

381,955

Corporation Tax Payable

385,073

260,961

Social security and other taxes

27,934

23,091

VAT

20,868

47,594

Accrued Expenses

126,408

131,595

739,275

845,196

11.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred Taxation

7,989

6,586

Deferred

tax

£

Balance at 1st April 2024

6,586

Charge to Income Statement during year

1,403

Balance at 31st March 2025

7,989

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1,000

Ordinary

1

1,000

1,000

100

Redeemable Preference

£1

100

-

1,100

1,000

The following shares were issued during the year for cash at par :

100 Redeemable Preference shares of £1