REGISTERED NUMBER: 10225947 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SHELDON BOSLEY KNIGHT LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

M A Cleary

D Jackson

REGISTERED OFFICE:

1 Bridge Street Bridge Street

United Kingdom

Evesham

Worcestershire

WR11 4SQ

REGISTERED NUMBER:

10225947 (England and Wales)

AUDITORS:

HB&O Ltd

Chartered Accountants and Statutory Auditors

Seven Stars House

1 Wheler Road

Coventry

CV3 4LB

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

Revenue for the company increased in 2024 versus the previous period. This increase is in due to an all round increase in activity by the company.

A result of the increased activity levels is an improvement in gross margin against that generated in 2023.

Financial Key performance indicators (KPI's)

The company's business is managed by reference to the universally accepted KPI's including sales, gross margin and pre-tax profit\(loss), and compared to budget and updated quarterly forecasts. Budgets are established in a robust and rigorous manner and represent a key overview of potential outcomes for the financial year and forecasts are updated regularly, to ensure the outlook is refreshed continuously.

PRINCIPAL RISKS AND UNCERTAINTIES

The company is subject to the risks inherent within the UK property market and mitigates those risks through diversification and increased customer service levels.

Other uncertainties relate to competitor activity and the business continues to attempt to differentiate itself from its competitors by offering excellent quality, whilst remaining price competitive.

ON BEHALF OF THE BOARD:

M A Cleary - Director

23 September 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of estate agency services.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £405,000

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

M A Cleary

D Jackson

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

M A Cleary - Director

23 September 2025

Opinion

We have audited the financial statements of Sheldon Bosley Knight Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The audit process includes an assessment of the entity's risk environment, through enquiry of and discussion with management, including an assessment of any key laws and regulations with which the company must comply in the ordinary course of business.

Additionally, the overall risks of irregular transactions occurring are assessed following our observations and confirmation of the design and implementation of management's controls. Whilst we are mindful of these risks, our audit focus is geared towards the risk of material misstatement in the financial statements as a whole.

As such, our procedures cannot guarantee that all transactions have been fully compliant with all relevant laws and regulations, including those regulations relating to fraud, as our procedures are not designed to detect all instances of non-compliance. By definition, the risk of our detection of non-compliance is greater where compliance with a law of regulation is removed from the events and transactions reflected in the financial statements. The risk is also greater regarding irregularities due to fraud rather than error, as fraud involved intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Comparative information

We draw attention to the fact that the financial statements for the year ended 31 December 2023 were unaudited. As such the figures included in the columns headed "2023" in these financial statements are similarly unaudited.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Gregg Olner MPhil BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of HB&O Ltd

Chartered Accountants and Statutory Auditors

Seven Stars House

1 Wheler Road

Coventry

CV3 4LB

23 September 2025

TURNOVER

11,227,931

6,662,225

Cost of sales

7,771,655

4,807,330

GROSS PROFIT

3,456,276

1,854,895

Administrative expenses

2,793,694

(888,583

)

OPERATING PROFIT

4

662,582

2,743,478

Income from shares in group undertakings

-

337,615

Income from participating interests

40,000

-

40,000

337,615

702,582

3,081,093

Interest payable and similar expenses

5

9,473

34,644

PROFIT BEFORE TAXATION

693,109

3,046,449

Tax on profit

6

(53,561

)

102,530

PROFIT FOR THE FINANCIAL YEAR

746,670

2,943,919

PROFIT FOR THE YEAR

746,670

2,943,919

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

746,670

2,943,919

FIXED ASSETS

Intangible assets

9

193,512

222,407

Tangible assets

10

284,277

140,411

Investments

11

4,778,678

4,778,678

5,256,467

5,141,496

CURRENT ASSETS

Stocks

12

16,925

-

Debtors

13

4,785,936

1,347,250

Cash at bank and in hand

5,419

405

4,808,280

1,347,655

CREDITORS

Amounts falling due within one year

14

5,463,221

2,196,134

NET CURRENT LIABILITIES

(654,941

)

(848,479

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,601,526

4,293,017

CREDITORS

Amounts falling due after more than one year

15

152,619

185,780

NET ASSETS

4,448,907

4,107,237

CAPITAL AND RESERVES

Called up share capital

18

2

2

Retained earnings

19

4,448,905

4,107,235

SHAREHOLDERS' FUNDS

4,448,907

4,107,237

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

M A Cleary - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

1

1,372,549

1,372,550

Changes in equity

Issue of share capital

1

-

1

Dividends

-

(209,233

)

(209,233

)

Total comprehensive income

-

2,943,919

2,943,919

Balance at 31 December 2023

2

4,107,235

4,107,237

Changes in equity

Dividends

-

(405,000

)

(405,000

)

Total comprehensive income

-

746,670

746,670

Balance at 31 December 2024

2

4,448,905

4,448,907

1.	STATUTORY INFORMATION

Sheldon Bosley Knight Limited 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

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

The company has made pre-tax profit of £693,109. Net current liabilities at the period end amounted to £654,941 (2023 - £848,479). As shown on the balance sheet, the company had overall net assets of £4,448,907 (2023 - £4,107,237).

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore believe that the going concern basis of accounts preparation is appropriate.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Preparation of consolidated financial statements

The financial statements contain information about Sheldon Bosley Knight Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, 26SR Limited, 1 Bridge Street, Evesham, Worcestershire, United Kingdom, WR11 4SQ.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant & machinery

-

20% on reducing balance

Fixtures & fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised 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 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.

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.

3.	EMPLOYEES AND DIRECTORS

2024

2023

as restated

£

£

Wages and salaries

7,268,855

4,062,208

The average number of employees during the year was as follows:

2024

2023

as restated

Staff

133

145

2024

2023

as restated

£

£

Directors' remuneration

33,170

19,178

4.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024

2023

as restated

£

£

Hire of plant and machinery

41,615

21,664

Other operating leases

417,796

214,493

Depreciation - owned assets

41,567

36,185

Depreciation - assets on hire purchase contracts

11,697

-

Profit on disposal of fixed assets

(6,829

)

(2,763,171

)

Goodwill amortisation

28,895

26,095

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

as restated

£

£

Bank loan interest

4,989

29,056

Interest payable

4,484

5,588

9,473

34,644

6.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the profit for the year was as follows:

2024

2023

as restated

£

£

Current tax:

UK corporation tax

-

102,530

Overprovision in prior years

(53,561

)

-

Tax on profit

(53,561

)

102,530

7.

DIVIDENDS

2024

2023

as restated

£

£

Ordinary shares of 1.76 each

Final

405,000

209,233

8.	PRIOR YEAR ADJUSTMENT

The prior year has been restated to ensure the recognition of investments and goodwill is appropriate. The reallocation has resulted in an increase in retained earnings of £115,500 from the previously filed accounts.

9.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

288,950

AMORTISATION

At 1 January 2024

66,543

Amortisation for year

28,895

At 31 December 2024

95,438

NET BOOK VALUE

At 31 December 2024

193,512

At 31 December 2023

222,407

10.	TANGIBLE FIXED ASSETS

Plant &

Fixtures

Motor

machinery

& fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

178,449

83,022

34,238

295,709

Additions

121,843

-

80,208

202,051

Disposals

-

-

(8,748

)

(8,748

)

At 31 December 2024

300,292

83,022

105,698

489,012

DEPRECIATION

At 1 January 2024

88,401

45,645

21,252

155,298

Charge for year

32,076

7,475

13,713

53,264

Eliminated on disposal

-

-

(3,827

)

(3,827

)

At 31 December 2024

120,477

53,120

31,138

204,735

NET BOOK VALUE

At 31 December 2024

179,815

29,902

74,560

284,277

At 31 December 2023

90,048

37,377

12,986

140,411

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

80,208

At 31 December 2024

80,208

DEPRECIATION

Charge for year

11,697

At 31 December 2024

11,697

NET BOOK VALUE

At 31 December 2024

68,511

11.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

5,030,109

Additions

2,984,568

Disposals

(2,984,568

)

At 31 December 2024

5,030,109

PROVISIONS

At 1 January 2024

and 31 December 2024

251,431

NET BOOK VALUE

At 31 December 2024

4,778,678

At 31 December 2023

4,778,678

12.

STOCKS

2024

2023

as restated

£

£

Stocks

16,925

-

13.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade debtors

801,712

488,523

Provision for doubtful debts

(14,105

)

(16,315

)

Trade debtors - PLDR

25,678

8,888

Amounts owed by group undertakings

3,840,451

817,563

Other debtors

21,210

10,554

Other debtors - AML deposits

-

3,611

Prepayments

110,990

34,426

4,785,936

1,347,250

14.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Bank loans and overdrafts (see note 16)

271,150

199,768

Hire purchase contracts (see note 17)

18,519

-

Trade creditors

162,703

174,178

Sales Ledger balances

111,170

36,138

Amounts owed to group undertakings

3,064,352

634,317

Tax

-

214,684

Social security and other taxes

162,024

112,141

Pension creditor

65,702

17,587

VAT

322,341

397,154

Other creditors

117,274

-

Net wages

-

1,258

Deferred consideration

901,553

131,628

Directors' current accounts

229,156

229,306

Accruals and deferred income

37,277

47,975

5,463,221

2,196,134

15.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

as restated

£

£

Bank loans (see note 16)

103,275

185,780

Hire purchase contracts (see note 17)

49,344

-

152,619

185,780