Registration number: 01758281

Wring's Units Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 9

Wring's Units Limited

(Registration number: 01758281)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	472,719	325,802
Investment property	5	3,409,186	2,080,000
		3,881,905	2,405,802
Current assets
Debtors	6	24,947	21,567
Cash at bank and in hand		26,270	27,394
		51,217	48,961
Creditors: Amounts falling due within one year	7	(435,586)	(165,990)
Net current liabilities		(384,369)	(117,029)
Total assets less current liabilities		3,497,536	2,288,773
Creditors: Amounts falling due after more than one year	7	-	(8,971)
Net assets		3,497,536	2,279,802
Capital and reserves
Called up share capital		100	100
Revaluation reserve		577,286	577,286
Retained earnings		2,920,150	1,702,416
Shareholders' funds		3,497,536	2,279,802

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 May 2026 and signed on its behalf by:
 

J M Wring Director

Wring's Units Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Wrings Units Ltd
Vale Lane
Bedminster
Bristol
BS3 5RU

These financial statements were authorised for issue by the Board on 29 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional and presentational currency of the company, and rounded to the nearest £.

Name of parent of group
These financial statements are consolidated in the financial statements of Wring Group Limited. The financial statements of Wring Group Limited may be obtained from:
Vale Lane
Bedminster
Bristol
BS3 5RU

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue operating for the foreseeable future. The directors have been mindful of potential future impacts from events such as the impact of inflationary pressures, Brexit and the ongoing situation in Ukraine. Given the continued support of the shareholders and parent company, the directors have concluded that the company has adequate resources in place to continue trading for the foreseeable future, being twelve months from the date of approval of the financial statements.

Therefore, the going concern basis continues to be applied in the preparation of the financial statements.

Wring's Units Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

Key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors have carried out a valuation of investment properties on an open market basis and based on similar properties in similar geographic locations. Further details are given in Note 5.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of investment properties in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, rebates and discounts.

The company recognises revenue from the provision of services in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
a) the amount of revenue can be reliably measured;
b) it is probable that future economic benefit will flow to the company;
c) the stage of completion of the contract at the end of the reporting period can be reliably measured; and
d) the costs incurred and the costs to complete the contract can be reliably measured.
 

Audit report

The Independent Auditor's Report was qualified. We were unable to satisfy ourselves by alternative means concerning the completeness of income in relation to cash sales made during the year ended 31 August 2026, which are included in the profit and loss totalling £66,800, by using other audit procedures. During the year the Directors entered into adhoc and informal rental agreements to let out commercial land, for which no agreements were formally entered into and monies were received via direct bank transfers and cash payments for which no receipts were provided or invoices raised. Consequently, we were unable to determine whether any adjustment to this amount was necessary or if turnover and debtors or creditors associated with this revenue were complete, including recognition in the correct period to correspond with the time of occupation.
We draw your attention to the investment property note, note 5, and judgements and key estimation uncertainty in accounting policies of the financial statements, which highlights the uncertainty regarding the valuation of the investment properties. The company own a number of investment properties that are subject to a number of factors that would impact on their valuation. As part of our audit work, we have reviewed the basis of valuation in light of current market conditions which indicates there may be a material uncertainty that exists in respect of one of these properties due to the external market changes affecting the relevant property since the last valuation. Our opinion is not modified in respect of this matter. The name of the Senior Statutory Auditor who signed the audit report on 30 May 2026 was Guy Armitage-Norton, who signed for and on behalf of ML Audit LLP.

Finance income and costs policy

Interest income and expenses are recognised using the effective interest rate method.

Wring's Units Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

Foreign currency transactions and balances

Transactions in currencies other than the presentational currency of these financial statements are recorded at the prevailing exchange rate on the date of the transaction. At each reporting end date, assets and liabilities recorded in foreign currency are retranslated at the prevailing exchange rate on the reporting end date. Any gains or losses arising on retranslation are recognised in the proft and loss account.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Current and deferred taxation assets and liabilities are not discounted.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Long leasehold land and buildings	Over the term of the lease
Furniture, fittings and equipment	25% straight line

Investment property

Investment properties are measured at fair value at each reporting date. Properties that are subject to formal valuation are valued by an independent, professionally qualified external valuer. Where a property is not formally valued, it is derived from the current market prices for comparable real estate determined annually by the directors. The valuation uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Wring's Units Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

Debtors

Trade debtors are amounts due from customers for rental income arising in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Wring's Units Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

Financial instruments
Recognition and measurement
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 recognised in the company's profit and loss account when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised 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, 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.

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, including creditors, bank loans, loans from fellow 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.

Impairment
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate.

The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2024 - 2).

Wring's Units Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

4	Tangible assets

	Long leasehold land and buildings £	Furniture, fittings and equipment £	Total £
Cost or valuation
At 1 September 2024	343,670	72,567	416,237
Additions	-	162,168	162,168
Disposals	-	(13,670)	(13,670)
At 31 August 2025	343,670	221,065	564,735
Depreciation
At 1 September 2024	24,766	65,669	90,435
Charge for the year	2,409	12,842	15,251
Eliminated on disposal	-	(13,670)	(13,670)
At 31 August 2025	27,175	64,841	92,016
Carrying amount
At 31 August 2025	316,495	156,224	472,719
At 31 August 2024	318,905	6,897	325,802

5	Investment properties

	2025 £
At 1 September 2024 and 31 August 2025	2,080,000
Additions	109,186
Fair value adjustments	1,220,000
At 31 August	3,409,186

Investment properties are included in the balance sheet at their fair value as at 31 August 2025. A portion of the portfolio was valued by the director, J M Wring, on an open‑market basis with reference to comparable properties in similar geographic locations. The remaining investment properties were valued at the reporting date by CSquared, an independent firm of professionally qualified valuers with appropriate expertise and experience in the relevant property markets.

Wring's Units Limited

Notes to the Financial Statements for the Year Ended 31 August 2025

6

Debtors

	2025 £	2024 £
Trade debtors	6,239	5,510
Prepayments	18,708	16,057
	24,947	21,567

7

Creditors

Due within one year	Note	2025 £	2024 £
Loans and borrowings	8	8,721	9,998
Trade creditors		5,880	3,639
Amounts due to related parties	9	380,425	119,759
Social security and other taxes		5,620	12,124
Accruals		34,940	20,470
		435,586	165,990
Due after one year
Loans and borrowings	8	-	8,971

Creditors include bank loans of which £8,721 (2024 - £18,969) is secured. Details of security in place is given in Note 8.