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Registered number: 03585671
WYMONDHAM PROPERTY MANAGEMENT COMPANY LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
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WYMONDHAM PROPERTY MANAGEMENT COMPANY LIMITED
COMPANY INFORMATION
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WYMONDHAM PROPERTY MANAGEMENT COMPANY LIMITED
CONTENTS
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Notes to the financial statements
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WYMONDHAM PROPERTY MANAGEMENT COMPANY LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WYMONDHAM PROPERTY MANAGEMENT COMPANY LIMITED
FOR THE YEAR ENDED 30 JUNE 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wymondham Property Management Company Limited for the year ended 30 June 2025 which comprise the Balance sheet 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the Board of directors of Wymondham Property Management Company Limited, as a body, in accordance with the terms of our engagement letter dated 15 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Wymondham Property Management Company Limited and state those matters that we have agreed to state to the Board of directors of Wymondham Property Management Company Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wymondham Property Management Company Limited and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that Wymondham Property Management Company Limited 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 Wymondham Property Management Company Limited. You consider that Wymondham Property Management Company Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Wymondham Property Management Company Limited. 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.
MA Partners LLP
Chartered Accountants
7 The Close
Norwich
Norfolk
NR1 4DJ
4 December 2025
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WYMONDHAM PROPERTY MANAGEMENT COMPANY LIMITED
REGISTERED NUMBER: 03585671
BALANCE SHEET
AS AT 30 JUNE 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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WYMONDHAM PROPERTY MANAGEMENT COMPANY LIMITED
REGISTERED NUMBER: 03585671
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 September 2025.
The notes on pages 4 to 9 form part of these financial statements.
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WYMONDHAM PROPERTY MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
The Company is a private company limited by shares. It is both incorporated and domiciled in England and Wales. The address of its registered office is 9 Conway Road, Sheringham, Norfolk, NR26 8DD.
The company's principal activity is the management of its own property. The principal place of business is Norwich, UK.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Turnover comprises income due on investment properties leased by the company under operating leases, accounted for on an accruals basis covering the period for which the rent is due under the terms of the lease. The company is not VAT registered.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
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WYMONDHAM PROPERTY MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Impairment of fixed assets and goodwill
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Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and loss account.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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WYMONDHAM PROPERTY MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
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WYMONDHAM PROPERTY MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
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Charge for the year on owned assets
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WYMONDHAM PROPERTY MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
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Freehold investment property
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Annual revaluation surplus/(deficit):
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Annual revaluation surplus/(deficit):
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The 2025 valuations were made by Mr C R Sapey, on an open market value basis.
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WYMONDHAM PROPERTY MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
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Prepayments and accrued income
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Included within other debtors within one year is a loan to the director amounting to £678,941 (2024: £611,832).
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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The director has also given personal guarantees as shown in note 10.
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Investment property revaluation reserve
The revaluation reserve represents the cumulative value of revaluations of investment property to fair value, net of deferred tax. The amounts debited or credited to this reserve are transfers from the profit and loss accounts. Deferred tax is provided for on these fair value adjustments at the standard rate of corporation tax.
Profit & loss account
The profit and loss account includes all current and prior period retained profits and losses.
9.Directors' personal guarantees
The director, who is the only shareholder has given personal guarantees for secured borrowings of £303,337 (2024: £386,227).
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