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Company No: 03318244 (England and Wales)

# P REYLAND PROPERTIES LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2026
Pages for filing with the registrar

P REYLAND PROPERTIES LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2026

Contents

P REYLAND PROPERTIES LIMITED

## BALANCE SHEET

As at 31 March 2026
P REYLAND PROPERTIES LIMITED

## BALANCE SHEET (continued)

As at 31 March 2026

| Note | 2026 |  | 2025
|  | £ |  | £
Fixed assets |  |  |  |
Investment property | 3 | 2,545,000 |  | 2,545,000
|  | 2,545,000 |  | 2,545,000
Current assets |  |  |  |
Debtors | 4 | 315,276 |  | 314,476
Cash at bank and in hand |  | 837,695 |  | 849,747
|  | 1,152,971 |  | 1,164,223
Creditors: amounts falling due within one year | 5 | ( 74,302) |  | ( 181,707)
Net current assets |  | 1,078,669 |  | 982,516
Total assets less current liabilities |  | 3,623,669 |  | 3,527,516
Provision for liabilities |  | ( 95,709) |  | ( 80,386)
Net assets |  | 3,527,960 |  | 3,447,130
Capital and reserves |  |  |  |
Called-up share capital |  | 10,000 |  | 10,000
Undistributable reserve |  | 548,370 |  | 544,172
Profit and loss account |  | 2,969,590 |  | 2,892,958
Total shareholders' funds |  | 3,527,960 |  | 3,447,130

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of P Reyland Properties Limited (registered number: 03318244) were approved and authorised for issue by the Director on 01 July 2026. They were signed on its behalf by:

P A J Reyland Director |

P REYLAND PROPERTIES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2026
P REYLAND PROPERTIES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2026

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

P Reyland Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Rock House, 5 Palmer Street, South Petherton, TA13 5DB, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents in relation to investment properties which is recognised in the period of occupation of the property by the tenant.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either other creditors or other debtors in the Balance Sheet.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the director, on an open market value for existing use basis.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

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 creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Dividends

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.

#### 2. Employees

| 2026 |  | 2025
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 2 |  | 2

#### 3. Investment property

| Investment property
| £
Valuation |
As at 01 April 2025 | 2,545,000
As at 31 March 2026 | 2,545,000

Valuation

The value of investment property is derived from observable current market prices for comparable real estate determined by the directors. The assets have a current value of £2,545,000 (2025 - £2,545,000).

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

| 2026 |  | 2025
| £ |  | £
Historic cost | 1,899,448 |  | 1,899,448

#### 4. Debtors

| 2026 |  | 2025
| £ |  | £
Trade debtors | 800 |  | 0
Other debtors | 314,476 |  | 314,476
| 315,276 |  | 314,476

#### 5. Creditors: amounts falling due within one year

| 2026 |  | 2025
| £ |  | £
Trade creditors | 0 |  | 317
Taxation and social security | 29,500 |  | 29,963
Other creditors | 44,802 |  | 151,427
| 74,302 |  | 181,707