REGISTERED NUMBER: 10566796 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

WYE Property Management Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr W L Body

Mrs W Ye

REGISTERED OFFICE:

Tresco Eastella Road

Yelverton

Plymouth

PL20 6AX

REGISTERED NUMBER:

10566796 (England and Wales)

ACCOUNTANT:

SDF Accountancy

30 Norman Road

London

SE10 9QX

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

214,000

190,000

214,000

190,000

CURRENT ASSETS

Debtors

6

254

110

Cash at bank and in hand

7

1,163

2,702

1,417

2,812

CREDITORS

Amounts falling due within one year

8

27,440

25,691

NET CURRENT LIABILITIES

(26,023

)

(22,879

)

TOTAL ASSETS LESS CURRENT LIABILITIES

187,977

167,121

CREDITORS

Amounts falling due after more than one year

9

(127,670

)

(135,007

)

PROVISIONS FOR LIABILITIES

(8,907

)

(4,347

)

NET ASSETS

51,400

27,767

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

51,300

27,667

51,400

27,767

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2025 and were signed on its behalf by:

Mrs W Ye - Director

1.	STATUTORY INFORMATION

WYE Property Management Ltd 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"

including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The

financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets.

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, modified to

include the revaluation of investment properties at fair value. The principal accounting policies

adopted are set out below.

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 etc - 20% on cost

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is

initially recognized at cost, which includes the purchase cost and any directly attributable

expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair

value are recognized in profit or loss.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments'

and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial

instruments.

Financial instruments are recognized in the company's balance sheet when the company

becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial

statements, when there is a legally enforceable right to set off the recognized amounts and

there is an intention to settle on a net basis or to realise the asset and settle the liability

simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loan and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognized in the Income

Statement, except to the extent that it relates to items recognized in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognized 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 recognized 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 recognized in financial statements. Deferred tax is

measured using tax rates and laws that have been enacted or substantively enacted by the

period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognized 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

1,466

DEPRECIATION

At 1 April 2024

and 31 March 2025

1,466

NET BOOK VALUE

At 31 March 2025

-

5.	INVESTMENT PROPERTY

Investment property, which is property held to earn rentals and/or for capital appreciation, is

initially recognized at cost, which includes the purchase cost and any directly attributable

expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair

value are recognized in profit or loss.

Cost or valuation at 31 March 2025 is represented by:

£

Valuation in 2019

(22,000

)

Valuation in 2020

6,500

Valuation in 2021

12,500

Valuation in 2022

(7,000

)

Valuation in 2024

24,000

Cost

200,000

214,000

Under FRS 102, the investment property is required to be measured at fair value at each

reporting date with changes in value recognised in profit or loss. Deferred tax is also required to

be recognised on these fair value changes. The tax is measured at the rates and allowances

that would apply to the sale of the investment property unless the property has a limited useful

life and is held as part of a business model whose objective is to consume substantially all of

the economic benefits embodied in the property over time.

The company carried out a desktop valuation in December 2025 on the properties by reference

to the market value. The director considered that the fair value as at the balance sheet date is

not significantly different from the valuation.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

254

110

7.	CASH AT BANK AND IN HAND

31.3.25

31.3.24

£

£

Bank account no. 1

1,064

-

Bank account no. 2

-

2,603

Cash in hand

99

99

1,163

2,702

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at

call with banks, other short-term liquid investments with original maturities of three months or

less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

3,063

2,958

Taxation and social security

1,253

758

Other creditors

23,124

21,975

27,440

25,691

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

60,056

68,593

Other creditors

67,614

66,414

127,670

135,007

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

44,739

53,803

The bank loan is secured on the investment property (5 Maida Vale Terrace, Plymouth, PL4 7LW). The loan carries a variable rate of 4.25% over base per annum and is repayable in full by Apr 2038.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

Mrs W Ye

Balance outstanding at start of year

(71,214

)

(68,814

)

Amounts advanced

(200

)

(2,400

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(71,414

)

(71,214

)

Mr W L Body

Balance outstanding at start of year

(12,000

)

(11,000

)

Amounts advanced

(1,200

)

(1,000

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(13,200

)

(12,000

)