Company No: 08334677 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
				Restated - note 3
Fixed assets
Tangible assets	5	593		791
Investment property	6	365,000		353,658
		365,593		354,449
Current assets
Debtors	7	295		160
Cash at bank and in hand		8,254		11,966
		8,549		12,126
Creditors: amounts falling due within one year	8	( 105,552)		( 116,681)
Net current liabilities		(97,003)		(104,555)
Total assets less current liabilities		268,590		249,894
Provision for liabilities	9	( 24,859)		( 22,072)
Net assets		243,731		227,822
Capital and reserves
Called-up share capital		100		100
Revaluation reserve		74,128		65,622
Profit and loss account		169,503		162,100
Total shareholders' funds		243,731		227,822

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Income Statement has not been delivered.

The financial statements of Sheldon Property Investments Limited (registered number: 08334677) were approved and authorised for issue by the Director on 01 October 2026. They were signed on its behalf by:

Ms J Sheldon Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sheldon Property Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 264 Banbury Road, Oxford, OX2 7DY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Prior year adjustment

Prior period adjustments are recognised retrospectively in accordance with FRS 102. Comparative amounts for the prior period presented are restated so that the financial statements reflect the correction of material errors as if they had never occurred.

The prior period adjustments in these financial statements relate to:
1. Investment Property Reclassification & Revaluation: The reclassification of property from Tangible Fixed Assets to Investment Property at fair value, together with the recognition of historical fair value revaluation movements.
2. Deferred Tax Accounting: The recognition of unrecorded deferred tax liabilities in respect of investment property revaluations and timing differences on tangible fixed assets.

Full quantitative details and the impact on the financial statements are disclosed in Note 3.

Turnover

Turnover represents rent receivable and other property related income.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Fixtures and fittings	25 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Statement of Financial Position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Critical accounting judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies above.

3. Prior year adjustment

During the year, it was identified that an investment property had previously been incorrectly classified within Tangible Fixed Assets at historical cost rather than as an Investment Property measured at fair value, as required by FRS 102 1A. Consequently, no annual fair value revaluations had been recorded, and the associated deferred tax liabilities on both tangible fixed assets and investment property fair value gains had not been recognised.

To comply with FRS 102 1A, prior period adjustments have been recognised to restate comparative figures for the prior periods.

Nature of Adjustment:
1. Reclassification: The historical cost of the property (£266,162) was reclassified from Tangible Fixed Assets to Investment Property as at 1 January 2024 (pertaining to the year ended 31 December 2023).
2. Fair Value Revaluations:
A fair value uplift of £80,495 was recognised in the year ended 31 December 2023.
A further fair value uplift of £7,001 was recognised in the year ended 31 December 2024.
3. Deferred Tax Recognition:
As at 31 December 2023: Deferred tax liability on the investment property revaluation of £20,124 was recognised in the Revaluation Reserve. A deferred tax charge of £264 relating to tangible fixed assets was recognised against opening Profit and Loss reserves.
As at 31 December 2024: Deferred tax liability on the additional revaluation of £1,750 was recognised in the Revaluation Reserve. A deferred tax credit of £66 was recognised in the Profit and Loss Account for the year ended 31 December 2024.

There is no impact on the Corporation Tax charge or Corporation Tax liabilities for the current or prior financial years.

		As previously reported		Adjustment		As restated
Year ended 31 December 2024		£		£		£
Other non-operating Income (Income Statement)		0		7,001		7,001
Tax on profit (Income Statement)		7,378		(66)		7,312
Tangible assets (Statement of Financial Position)		266,953		(266,162)		791
Investment property (Statement of Financial Position)		0		353,658		353,658
Provision for liabilities (Statement of Financial Position)		0		(22,072)		(22,072)
Profit and loss account (Statement of Financial Position)		162,298		(198)		162,100
Revaluation reserve (Statement of Financial Position)		0		65,622		65,622

4. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

5. Tangible assets

	Plant and machinery		Fixtures and fittings		Total
	£		£		£
Cost
At 01 January 2025	1,053		10,511		11,564
At 31 December 2025	1,053		10,511		11,564
Accumulated depreciation
At 01 January 2025	798		9,975		10,773
Charge for the financial year	64		134		198
At 31 December 2025	862		10,109		10,971
Net book value
At 31 December 2025	191		402		593
At 31 December 2024	255		536		791

6. Investment property

	Investment property
	£
Valuation
As at 01 January 2025	353,658
Fair value movement	11,342
As at 31 December 2025	365,000

Valuation

Investment properties are measured initially at cost and subsequently at fair value at each reporting date. The fair value has been determined by the directors as at 31 December 2025 by reference to market data, including publicly available residential property valuation tools and regional house price indices (Nationwide House Price Index). Revaluation gains or losses are recognised as Other Comprehensive Income in the Profit and Loss Account in accordance with FRS 102.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	266,162		266,162

7. Debtors

	2025		2024
	£		£
Other debtors	295		160

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	20		20
Corporation tax	2,123		7,378
Other creditors	103,409		109,283
	105,552		116,681

9. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 22,072)		( 20,388)
Credited to the Income Statement	49		66
Movement to revaluation reserve	( 2,836)		( 1,750)
At the end of financial year	( 24,859)		( 22,072)