ACCOUNTS - Final Accounts

Registered number: 13793581

SHEEHAN DESIGNS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

SHEEHAN DESIGNS LIMITED

REGISTERED NUMBER: 13793581

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

FIXED ASSETS
Tangible assets	4		720		3,334
Investments	5		50		50
			770		3,384
CURRENT ASSETS
Stocks		3		15
Debtors: amounts falling due within one year	6	35,127		53,629
Cash at bank and in hand		786		757
		35,916		54,401
Creditors: amounts falling due within one year	7	(2,279)		(16,176)
NET CURRENT ASSETS			33,637		38,225
TOTAL ASSETS LESS CURRENT LIABILITIES			34,407		41,609
PROVISIONS FOR LIABILITIES
Deferred tax	8	(180)		(633)
			(180)		(633)
NET ASSETS			34,227		40,976

CAPITAL AND RESERVES
Called up share capital	9	1	1
Profit and loss account		34,226	40,975
		34,227	40,976

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SHEEHAN DESIGNS LIMITED

REGISTERED NUMBER: 13793581

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

C Sheehan

Director

Date: 27 April 2026

The notes on pages 3 to 8 form part of these financial statements.

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SHEEHAN DESIGNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	GENERAL INFORMATION

Sheehan Designs Limited is a private company limited by shares and incorporated in England and Wales.

Its registered office is Salisbury House, Station Road, Cambridge, CB1 2LA.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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SHEEHAN DESIGNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.3

TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Office equipment	-	25%	straight-line
				Computer equipment	-	25%	straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

ASSOCIATES AND JOINT VENTURES

Associates and Joint Ventures are held at cost less impairment.

2.5

INVENTORY

Cryptocurrency used by the company during its normal course of business is accounted for as inventory pursuant to a notice published by the ICAEW technical advisory service. The company receives payment in the form of cryptocurrency when it sells non-fungible tokens (NFT), which was its main trade in the accounting period. It then transfers this income to fiat currency on a regular basis. It is therefore not holding cryptocurrencies as an investment with a view to long-term capital appreciation.

At each balance sheet date, any residual inventory balance is assessed for impairment. If inventory is impaired, the carrying amount is reduced to its selling price less costs to sell. Any gains or losses in the period are recognised immediately in profit or loss for the period.

2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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SHEEHAN DESIGNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.9

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.

2.10

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).

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SHEEHAN DESIGNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

4.	TANGIBLE FIXED ASSETS

	Office equipment	Computer equipment	Total
	£	£	£
COST OR VALUATION
At 1 January 2025	915	9,540	10,455
At 31 December 2025	915	9,540	10,455
DEPRECIATION
At 1 January 2025	668	6,453	7,121
Charge for the year on owned assets	229	2,385	2,614
At 31 December 2025	897	8,838	9,735
NET BOOK VALUE
At 31 December 2025	18	702	720
At 31 December 2024	247	3,087	3,334

5.	FIXED ASSET INVESTMENTS

		Investments in associates
		£
	COST OR VALUATION
	At 1 January 2025	50
	At 31 December 2025	50

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SHEEHAN DESIGNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

6.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

					2025	2024
					£	£


Other debtors	35,127	38,727
Prepayments and accrued income	-	14,902
	35,127	53,629

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£

Trade creditors	429	12,845
Corporation tax	-	1,481
Accruals and deferred income	1,850	1,850
	2,279	16,176

8.	DEFERRED TAXATION

	2025	2024
	£	£

At beginning of year	633	420
Charged to profit or loss	(453)	213
AT END OF YEAR	180	633

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

	Accelerated capital allowances	180	633
		180	633

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SHEEHAN DESIGNS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

9.	SHARE CAPITAL
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

100 Ordinary shares of £0.01 each	1	1

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