Shorelark Properties Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 7

Shorelark Properties Limited

Balance Sheet

31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	3,529,809	3,609,343
Current assets
Debtors	5	15,676	16,689
Cash at bank and in hand		99,618	122,806
		115,294	139,495
Creditors: Amounts falling due within one year	6	(1,681,259)	(1,698,578)
Net current liabilities		(1,565,965)	(1,559,083)
Total assets less current liabilities		1,963,844	2,050,260
Creditors: Amounts falling due after more than one year	6	(1,605,317)	(1,745,986)
Provisions for liabilities		(29,775)	(30,439)
Net assets		328,752	273,835
Capital and reserves
Called up share capital		100	100
Profit and loss account		328,652	273,735
Shareholders' funds		328,752	273,835

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 16 July 2026 and signed on its behalf by:
 

......................................... Mr M R Davies Director

Company Registration Number: 11881177

Shorelark Properties Limited

Notes to the Financial Statements

Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Enterprise House
52 Holton Road
Holton Heath Trading Park
Poole
Dorset
BH16 6LT
England

These financial statements were authorised for issue by the Board on 16 July 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Summary of disclosure exemptions

The company has taken advantage of the exemption in Financial Reporting Standard 102 chapter 33 "Related Party Disclosure" and has not disclosed transactions with wholly owned group undertakings or wholly owned indirectly by the ultimate controlling party.

Shorelark Properties Limited

Notes to the Financial Statements

Year Ended 31 August 2025

Going concern

The directors have reviewed the rental income streams and the level of core overheads of the business, along with scheduled borrowing repayments, to determine if there is sufficient working capital to meet these requirements, for a period of at least twelve months from the date of approval of these financial statements.

The company has an intercompany balance of £1,475,618 owed to another company within the group, Electro Mechanical Systems Limited. The company is unable to repay this in full and the company is reliant on the support of the ultimate parent company for twelve months from the date of signing to continue as a going concern. The directors have received confirmation of support and have reviewed the going concern assessment made by the ultimate parent company.

Following this review, based on the information available to date the directors are satisfied that support from the group is sufficient to meet the requirements of the company and, accordingly, the directors continue to adopt the going concern basis of presentation.

Revenue recognition

Turnover comprises the fair value of the consideration of rent received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Conditional government grant income is recognised under the accrual model within the financial statements and as such are recognised on a systematic basis over the periods in which the company recognised the related costs for which the grants are intended to compensate.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Shorelark Properties Limited

Notes to the Financial Statements

Year Ended 31 August 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold buildings	2% per annum on a straight line basis.
Solar panels	4% per annum on a straight line basis.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

Shorelark Properties Limited

Notes to the Financial Statements

Year Ended 31 August 2025

4	Tangible assets

	Land and buildings £	Solar panels £	Total £
Cost or valuation
At 1 September 2024	3,868,062	54,300	3,922,362
At 31 August 2025	3,868,062	54,300	3,922,362
Depreciation
At 1 September 2024	309,399	3,620	313,019
Charge for the year	77,362	2,172	79,534
At 31 August 2025	386,761	5,792	392,553
Carrying amount
At 31 August 2025	3,481,301	48,508	3,529,809
At 31 August 2024	3,558,663	50,680	3,609,343

Included within the net book value of land and buildings above is £3,481,301 (2024 - £3,558,663) in respect of freehold land and buildings.
 

5

Debtors

		2025 £	2024 £
Amounts owed by group undertakings		100	100
Prepayments		15,529	16,589
Other debtors		47	-
		15,676	16,689