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Unaudited Financial Statements for the Year Ended 31 March 2020 |
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WYE Property Management Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2020 |
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for |
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WYE Property Management Ltd |
WYE Property Management Ltd (Registered number: 10566796) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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WYE Property Management Ltd |
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Company Information |
for the Year Ended 31 March 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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30 Norman Road |
London |
SE10 9QX |
WYE Property Management Ltd (Registered number: 10566796) |
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Balance Sheet |
31 March 2020 |
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31.3.20 | 31.3.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
WYE Property Management Ltd (Registered number: 10566796) |
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Balance Sheet - continued |
31 March 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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WYE Property Management Ltd (Registered number: 10566796) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2020 |
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1. | STATUTORY INFORMATION |
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WYE Property Management Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Plant and machinery etc - 20% on cost |
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Investment property |
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. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised 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. |
WYE Property Management Ltd (Registered number: 10566796) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2019 |
and 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2019 |
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Revaluations | 6,500 |
At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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Fair value at 31 March 2020 is represented by: |
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Valuation in 2019 | (22,000 | ) |
Valuation in 2020 | 6,500 |
Cost | 200,000 |
184,500 |
WYE Property Management Ltd (Registered number: 10566796) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Bank loans |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 91,228 | 95,000 |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 March 2020 and 31 March 2019: |
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31.3.20 | 31.3.19 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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WYE Property Management Ltd (Registered number: 10566796) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
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Balance outstanding at start of year |
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Amounts advanced | ( |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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