Company registration number SC214171 (Scotland)
SHEFER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
SHEFER LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SHEFER LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
797,775
1,045,854
Current assets
Debtors
35,481
31,402
Cash at bank and in hand
56,152
41,741
91,633
73,143
Creditors: amounts falling due within one year
(320,568)
(322,662)
Net current liabilities
(228,935)
(249,519)
Total assets less current liabilities
568,840
796,335
Creditors: amounts falling due after more than one year
-
0
(6,131)
Provisions for liabilities
(1,479)
(3,402)
Net assets
567,361
786,802
Capital and reserves
Called up share capital
5
1,000
1,000
Profit and loss reserves
566,361
785,802
Total equity
567,361
786,802

The notes on pages 3 to 6 form part of these financial statements.

SHEFER LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -

For the financial year ended 31 December 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 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.

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

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

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

The financial statements were approved and signed by the director and authorised for issue on 6 May 2026
Michael Went
Director
Company registration number SC214171 (Scotland)
SHEFER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Shefer Limited is a private company limited by shares incorporated in Scotland. The registered office is 4 Parkland of Murroes, Kellas, Dundee, DD5 3PB.

1.1
Basis of preparation

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

The turnover represents property rental amounts charged during the year.

1.4
Tangible fixed assets

Fixed assets, which comprise investment properties for commercial rent, are initially recorded at cost and then subject to revaluation annually by the director.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% straight line
Plant & Machinery
25 to 33.33% straight line
Motor Vehicles
25% straight line

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of i nvestment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

This is in accordance with FRS 102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

SHEFER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
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.

Where a reasonable and consistent basis of allocation can be identified, assets are allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified.

1.6
Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

1.7
Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

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.

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.

1.8
Retirement benefits

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

SHEFER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.9
Government grants

Revenue grants are recognised in the Statement of Income and Retained Earnings in the period to which they relate.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

3
Employees

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

2025
2024
Number
Number
Total
2
2
4
Tangible fixed assets
Total
£
Cost
At 1 January 2025
1,121,037
Additions
6,500
At 31 December 2025
1,127,537
Depreciation and impairment
At 1 January 2025
75,183
Depreciation charged in the year
17,009
Impairment losses
237,570
At 31 December 2025
329,762
Carrying amount
At 31 December 2025
797,775
At 31 December 2024
1,045,854
SHEFER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
4
Tangible fixed assets
(Continued)
- 6 -

The investment properties were valued in March 2026 by Graham & Sibbald, Chartered Surveyors with the resulting impairment taken to the profit and loss account.

5
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
500
500
500
500
'A' Ordinary shares of £1 each
500
500
500
500
1,000
1,000
1,000
1,000

In 2003 500 Ordinary £1 shares were converted into 500 Ordinary 'A' £1 shares. These shares rank pari passu with the Ordinary shares.

6
Related party transactions
Transactions with related parties

At the year end the company owed the Michael Went Discretionary Trust an amount of £285,000 (2024 - £285,000). Interest is charged at a variable rate.

The company advanced funds amounting to £15,000 (2024 - £nil) during the year, to a company of a related party of the shareholder, the amount owing to the company at the year end was £11,667 (2024 - £nil). The amount which is disclosed within Debtors and is expected to be recovered within two years with interest being charged at 6.5% per annum.

7
Directors' transactions

Dividends totalling £4,122 (2024 - £500) were paid in the year in respect of shares held by the company's directors.

2025-12-31 2025-01-01 false false false 06 May 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Michael Went SC214171 2025-01-01 2025-12-31 SC214171 2025-12-31 SC214171 2024-12-31 SC214171 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 SC214171 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 SC214171 core:Non-currentFinancialInstruments core:AfterOneYear 2025-12-31 SC214171 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 SC214171 core:ShareCapital 2025-12-31 SC214171 core:ShareCapital 2024-12-31 SC214171 core:RetainedEarningsAccumulatedLosses 2025-12-31 SC214171 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC214171 core:ShareCapitalOrdinaryShareClass1 2025-12-31 SC214171 core:ShareCapitalOrdinaryShareClass1 2024-12-31 SC214171 core:ShareCapitalOrdinaryShareClass2 2025-12-31 SC214171 core:ShareCapitalOrdinaryShareClass2 2024-12-31 SC214171 core:ShareCapitalOrdinaryShares 2025-12-31 SC214171 core:ShareCapitalOrdinaryShares 2024-12-31 SC214171 bus:Director1 2025-01-01 2025-12-31 SC214171 core:LandBuildings core:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 SC214171 core:PlantMachinery 2025-01-01 2025-12-31 SC214171 core:MotorVehicles 2025-01-01 2025-12-31 SC214171 2024-01-01 2024-12-31 SC214171 2024-12-31 SC214171 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 SC214171 bus:OrdinaryShareClass2 2025-01-01 2025-12-31 SC214171 bus:OrdinaryShareClass1 2025-12-31 SC214171 bus:OrdinaryShareClass1 2024-12-31 SC214171 bus:OrdinaryShareClass2 2025-12-31 SC214171 bus:OrdinaryShareClass2 2024-12-31 SC214171 bus:AllOrdinaryShares 2025-12-31 SC214171 bus:AllOrdinaryShares 2024-12-31 SC214171 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 SC214171 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 SC214171 bus:FRS102 2025-01-01 2025-12-31 SC214171 bus:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 SC214171 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP