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COMPANY REGISTRATION NUMBER: 09570189

WREN MANAGEMENT LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

WREN MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 4 |  | 1,095,000 | 1,095,000

Current assets

Debtors | 5 | 1 |  | 1
Cash at bank and in hand | 97,655 |  | 92,083
| --------- |  | ---------
| 97,656 |  | 92,084

Creditors: amounts falling due within one year | 6 | 1,209,399 |  | 1,217,000
| ------------- |  | -------------
Net current liabilities |  | 1,111,743 | 1,124,916
|  | ------------- | -------------
Total assets less current liabilities |  | ( 16,743) | ( 29,916)

Provisions

Taxation including deferred tax |  | 12,282 | 9,779
|  | --------- | ---------
Net liabilities |  | ( 29,025) | ( 39,695)
|  | --------- | ---------

Capital and reserves

Called up share capital |  | 1 | 1
Other reserves | 7 |  | 13,137 | 13,137
Profit and loss account | 7 |  | ( 42,163) | ( 52,833)
|  | --------- | ---------
Shareholders deficit |  | ( 29,025) | ( 39,695)
|  | --------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

WREN MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 30 October 2025 , and are signed on behalf of the board by:

Mr J W Hales
Director

Company registration number: 09570189

WREN MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Border Oak, Shipley Bridge Lane, Copthorne, Crawley, RH10 3JL, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continuing support of the creditors and on funding from other external sources. If the company were unable to continue in operational existence for the foreseeable future, adjustment would have to be made to reduce the balance sheet values of the assets to their recoverable amounts, and to provide for further liabilities that might arise. The director believes that it is appropriate for the financial statements to be prepared on the going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: - Investment property valuations.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Plant and machinery | - | 25% straight line

The company does not depreciate its investment properties and although this policy is in accordance with FRS 102, it is a departure from the Companies Act 2006 requirements for all tangible assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the financial statements to give a true and fair view.
Investment property
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in other reserves. The company does not depreciate its investment properties and although this policy is in accordance with FRS 102, it is a departure from the Companies Act 2006 requirements for all tangible assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the financial statements to give a true and fair view.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets

| Land and buildings
| £
Cost |
At 1 April 2024 and 31 March 2025 | 1,095,000
| -------------
Depreciation |
At 1 April 2024 and 31 March 2025 | –
| -------------
Carrying amount |
At 31 March 2025 | 1,095,000
| -------------
At 31 March 2024 | 1,095,000
| -------------

Included within the above is investment property as follows:

| £
| -------------
At 1 April 2024 and 31 March 2025 | 1,095,000
| -------------

Two of the investment properties were valued in November 2022 by Lawrence Taylor of Taylor Robinson Estate Agents. The remaining investment property has been valued by Mark Cribb of Stags Estate Agents. Lawrence Taylor and Mark Cribb have extensive knowledge and experience in the valuing of property in the location of the properties held by the company. Accordingly, in the directors opinion, the carrying value of the investment properties as at 31 March 2025 is not significantly different from the open market fair values of the properties as at that date.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

| Freehold property
| £
At 31 March 2025 |
Aggregate cost | 1,058,057
Aggregate depreciation | –
| -------------
Carrying value | 1,058,057
| -------------

At 31 March 2024 |
Aggregate cost | 1,058,057
Aggregate depreciation | –
| -------------
Carrying value | 1,058,057
| -------------

5. Debtors

| 2025 | 2024
| £ | £
Other debtors | 1 | 1
| ---- | ----

6. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Other creditors | 1,209,399 | 1,217,000
| ------------- | -------------

7. Reserves
Other reserves (non-distributable) - This reserve is used to record changes in the fair value of investment properties, net of deferred tax. Profit and loss account - This reserve records retained earnings and accumulated losses.
8. Directors' advances, credits and guarantees
As at 31 March 2025, the company owed the directors £1,200,000 (2024: £Nil). The loans are interest free and payable on demand.