Company No: 13116414 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	4	1,488		4,142
Investment property	5	2,316,654		2,316,654
		2,318,142		2,320,796
Current assets
Cash at bank and in hand		10,990		9,419
		10,990		9,419
Creditors: amounts falling due within one year	6	( 755,470)		( 744,194)
Net current liabilities		(744,480)		(734,775)
Total assets less current liabilities		1,573,662		1,586,021
Creditors: amounts falling due after more than one year	7	( 1,520,352)		( 1,520,579)
Provision for liabilities	8	( 283)		( 787)
Net assets		53,027		64,655
Capital and reserves
Called-up share capital		1		1
Profit and loss account		53,026		64,654
Total shareholder's funds		53,027		64,655

For the financial year ending 31 January 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has 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 Profit and Loss Account has not been delivered.

The financial statements of Shark Property Ltd (registered number: 13116414) were approved and authorised for issue by the Director on 21 October 2026. They were signed on its behalf by:

Kanchan Sharma 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

Shark Property Ltd (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 5th Floor 25 King Street, Bristol, BS1 4PB, 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 £.

Going concern

The company had net current liabilities of £744,480 at the balance sheet date. Included within creditors due within one year is an amount of £589,815 owing to the director.

The director has confirmed that there is no intention to seek repayment of the loan within the twelve months following the approval of these financial statements and will continue to make funds available to the company as required to enable it to meet its liabilities as they fall due.

The director has reviewed the company's cash flow forecasts and is satisfied that the company has adequate financial resources to continue its operations for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for property rental.

Turnover is recognised as the rental period takes place.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

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. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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:

Fixtures and fittings

4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account 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.

The fair value is determined annually by the director, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

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 Balance Sheet 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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment

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 Balance Sheet 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).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Prior year adjustment

The allocation of costs in the statement of profit or loss has been amended to better represent the nature of the business activities. The result of this is a number of property related expenses have been shown in cost of sales rather than administrative costs, changing the gross profit and operating profit accordingly. The comparative figures have also been restated using the same methodology. There is no change to the overall profit figure.

3. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

4. Tangible assets

	Fixtures and fittings		Total
	£		£
Cost
At 01 February 2025	10,613		10,613
At 31 January 2026	10,613		10,613
Accumulated depreciation
At 01 February 2025	6,471		6,471
Charge for the financial year	2,654		2,654
At 31 January 2026	9,125		9,125
Net book value
At 31 January 2026	1,488		1,488
At 31 January 2025	4,142		4,142

5. Investment property

	Investment property
	£
Valuation
As at 01 February 2025	2,316,654
As at 31 January 2026	2,316,654

The value of investment property is derived from observable current market prices for comparable real estate determined by the director.

Historic cost

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

	2026		2025
	£		£
Historic cost	2,316,654		2,316,654

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Amounts owed to connected companies	160,000		0
Taxation and social security	0		12,382
Other creditors	595,470		731,812
	755,470		744,194

7. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans (secured)	1,520,352		1,520,579

The bank loan is secured against the company's investment property.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2026		2025
	£		£
Bank loans (secured)	1,520,352		1,520,579

8. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	( 787)		( 1,291)
Credited to the Profit and Loss Account	504		504
At the end of financial year	( 283)		( 787)

9. Related party transactions

Transactions with the entity's director

The director holds an interest free loan with the company which is repayable on demand. The balance owed to the director at 31 January 2026 was £589,815 (2025 - £724,815)

Other related party transactions

The company is in receipt of an interest free loan from a connected company. The balance owed to the connected company at 31 January 2026 was £160,000 (2025 - Nil)