Sherrick Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026

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:
72 Sherrick Green Road
London
NW10 1LD
United Kingdom

These financial statements were authorised for issue by the director on 10 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rental income in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current 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 income 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.

Sherrick Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026 (continued)

2	Accounting policies (continued)

The director revalued the investment properties to reflect the market value of the properties as at 31 May 2018.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

(i) Financial assets
Basic financial assets, including trade, other debtors, and cash and bank balances, [AND amounts due from fellow group undertakings], are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method, unless they are receivable within one year. In these instances, assets are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be received.

At the end of each reporting period financial assets are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Sherrick Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026 (continued)

2	Accounting policies (continued)

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, [AND amounts due to fellow group undertakings], 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 receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method, unless they are payable within one year. In these instances, assets are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid.

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit or Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

3	Staff numbers

The average monthly number of persons employed by the company (including the director) during the year, was 1 (2025: 1).

Sherrick Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2026 (continued)

4	Investment properties

	2026 £
At 1 June	930,000
At 31 May	930,000

The properties were revalued by independent surveyors to reflect the market value of the investment properties.

5

Debtors

	2026 £	2025 £
Other debtors	550	550
Accrued income	-	4,685
	550	5,235

6

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Corporation tax payable	6,143	6,275
Accruals and deferred income	2,340	2,340
Other creditors	1,673	1,673
Directors current account	619,263	617,427
	629,419	627,715

7	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Sherrick Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 31 May 2026

	2026 £	2025 £
Turnover/revenue	51,985	47,010
Cost of sales
Management and letting agent fees	(2,729)	(3,351)
Gross profit	49,256	43,659
Administrative expenses
Audit and accountancy other services	(2,340)	(2,940)
Rent, rates and services costs	(960)	(960)
Other repairs and maintenance costs	(10,178)	(1,717)
Travel and subsistence	(1,231)	(1,108)
Legal and professional costs	(264)	(1,530)
Bank charges	(114)	(371)
Insurance costs	-	(1,087)
Telecommunications	(859)	(308)
Printing, postage and stationery	(85)	(72)
Other costs	(1,126)	(540)
Profit on ordinary activities before finance charges and interest	32,099	33,026
Non-bank interest and similar income receivable	235	-
Profit on ordinary activities before taxation	32,334	33,026
Tax on profit or loss on ordinary activities	(6,143)	(6,275)
Profit for the financial year	26,191	26,751