Company Registration No. 13746569 (England and Wales)
SHERNHALL PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH REGISTRAR
SHERNHALL PROPERTIES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10
SHERNHALL PROPERTIES LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
5
6,184,207
6,128,207
Investments
7
25,483
25,483
6,209,690
6,153,690
Current assets
Debtors
6
102,227
119,178
Cash at bank and in hand
67,923
1,000
170,150
120,178
Creditors: amounts falling due within one year
8
(91,910)
(105,546)
Net current assets
78,240
14,632
Total assets less current liabilities
6,287,930
6,168,322
Provisions for liabilities
9
(660,183)
(661,209)
Net assets
5,627,747
5,507,113
Capital and reserves
Called up share capital
11
5,350,000
5,350,000
Profit and loss reserves
277,747
157,113
Total equity
5,627,747
5,507,113
SHERNHALL PROPERTIES LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2025
30 September 2025
- 2 -

For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 26 February 2026 and are signed on its behalf by:
Ms L Fuller
Director
Company registration number 13746569 (England and Wales)
SHERNHALL PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
1
Accounting policies
Company information

Shernhall Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, County House, 100 New London Road, Chelmsford, Essex, CM2 0RG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover is recognised at the fair value of the rent receivable in the normal course of business, and is shown net of VAT.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Fixed asset investments

Fixed asset investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
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 current liabilities.

1.7
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 recognised 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 recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

SHERNHALL PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 4 -
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.

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 paymen ts 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. A m ounts 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SHERNHALL PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

The cost of providing benefits under defined benefit plans is determined separately for each plan using the projected unit credit method, and is based on actuarial advice.

The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as an expense in measuring profit or loss in the period in which they arise.

The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. The net interest is recognised in profit or loss as other finance revenue or cost.

Remeasurement changes comprise actuarial gains and losses, the effect of the asset ceiling and the return on the net defined benefit liability excluding amounts included in net interest. These are recognised immediately in other comprehensive income in the period in which they occur and are not reclassified to profit and loss in subsequent periods.

The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

SHERNHALL PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 6 -
2
Judgements and 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.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation

The depreciation expense is recognition of the decline in the value of the asset and the allocation of the cost of the assets over the periods in which the assets will be used. Judgements are made on the estimated useful life of the assets which are regularly reviewed to reflect the changing environment.

Deferred tax

The deferred tax expense is recognition of the difference between the accounting value and tax value of plant and machinery. Judgements are made on the estimated net book value of plant and machinery compared to written down value. The fixed asset register is regularly reviewed to reflect changes in assets.

Valuation of investment properties

The change in fair value expense is recognition of the difference between the market value and cost of investment properties. Judgements are made by the director on the estimated market value of investment properties compared to current market conditions. The fixed asset register is regularly reviewed to reflect changes in assets.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
6
6
4
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
64,742
66,260
Adjustments in respect of prior periods
(27)
(758)
Total current tax
64,715
65,502
SHERNHALL PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
4
Taxation
2025
2024
£
£
(Continued)
- 7 -
Deferred tax
Origination and reversal of timing differences
6,726
4,374
Total tax charge
71,441
69,876

In addition to the amount charged to the profit and loss account, the following amounts relating to tax have been recognised directly in other comprehensive income:

2025
2024
£
£
Deferred tax arising on:
Actuarial differences recognised as other comprehensive income
(3,384)
(4,130)
5
Investment property
2025
£
Fair value
At 1 October 2024
6,128,207
Revaluations
56,000
At 30 September 2025
6,184,207

Investment property comprises various rental properties. The fair value of the investment property has been arrived at on the basis of a valuation arranged by the directors.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
102,227
119,178
7
Fixed asset investments
2025
2024
£
£
Other investments other than loans
25,483
25,483
SHERNHALL PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
8
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
64,742
66,233
Other taxation and social security
7,000
5,200
Other creditors
20,168
34,113
91,910
105,546
9
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
499,517
496,175
Retirement benefit obligations
10
160,666
165,034
660,183
661,209
10
Retirement benefit schemes
Defined benefit schemes

The company operates a defined benefit scheme for qualifying employees. This is all Directors who are children of either RH Fuller or EW Fuller. Under the scheme the directors eligible are entitled to retirement benefit of £6,667 per annum with no inflationary adjustments upon their retirement from being a Director of the company, which can be at any age. There is also the entitlement for the widow of any Director to receive 100% of the retirement benefit upon death of the Director. No other post retirement benefits are provided.

There are no specific assets attributed to the defined benefit scheme.
Valuation

The most recent acturial valuations of plan assets and the present value of the defined benefit obligation were carried out at 30 September 2025 by the Directors. Given the simplistic nature of the scheme, the present value of the defined benefit obligation were measured using a discounted cash flow.

2025
2024
Key assumptions
%
%
Discount rate
6.0
5.3
SHERNHALL PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
10
Retirement benefit schemes
(Continued)
- 9 -
Mortality assumptions

Given the current age of the eligible Directors it is assumed that all Directors will retire within the next year. Each individual's life expectancy has been considered and factored into the calculation based on their individual circumstances.

2025
2024

Amounts taken to other comprehensive income

£
£
Actuarial changes related to obligations
(4,369)
(976)

The amounts included in the balance sheet arising from the company's obligations in respect of defined benefit plans are as follows:

2025
2024
£
£
Present value of defined benefit obligations
160,666
165,034
Deficit in scheme
160,666
165,034
2025

Movements in the present value of defined benefit obligations

£
Liabilities at 1 October 2024
165,035
Benefits paid
(26,667)
Actuarial gains and losses
13,536
Interest cost
8,762
At 30 September 2025
160,666
2025

The defined benefit obligations arise from plans funded as follows:

£
Wholly unfunded obligations
(160,666)
11
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
5,350,000
5,350,000
5,350,000
5,350,000
SHERNHALL PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 10 -
12
Non-distributable profits reserve

The company has £6,750 (20 2 4:-£48,872) of non distributable retained earnings and £270,997 (20 2 4: £205,985) of distributable retained earnings.

13
Related party transactions

Included within debtors are amounts owed from related businesses of £65,093 (2024: £87,226) due from E & R Fuller, a connected entity.

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