REGISTERED NUMBER: 02131840 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2026

for

Shormil Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

M C Sutherland

Mrs P J Sutherland-Rose

Mrs P J Sutherland

Mrs C M Gurney

Mrs L M Matthews

Secretary:

Mrs P J Sutherland

Registered office:

New Mills Industrial Estate

Leadon Way

Ledbury

Herefordshire

HR8 2SR

Registered number:

02131840 (England and Wales)

Accountants:

Crowthers Chartered Accountants

19 High Street

Pershore

Worcestershire

WR10 1AA

FIXED ASSETS

Property, plant and equipment

4

121,329

132,305

Investments

5

1

1

Investment property

6

15,331,926

14,611,302

15,453,256

14,743,608

CURRENT ASSETS

Debtors

7

99,134

87,792

Cash at bank

109,896

30,956

209,030

118,748

CREDITORS

Amounts falling due within one year

8

1,891,446

1,360,143

NET CURRENT LIABILITIES

(1,682,416

)

(1,241,395

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,770,840

13,502,213

PROVISIONS FOR LIABILITIES

9

1,025,267

1,015,551

NET ASSETS

12,745,573

12,486,662

CAPITAL AND RESERVES

Called up share capital

10

10,000

10,000

Fair value reserve

11

6,392,437

6,377,108

Retained earnings

11

6,343,136

6,099,554

SHAREHOLDERS' FUNDS

12,745,573

12,486,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2026 and were signed on its behalf by:

Mrs P J Sutherland-Rose - Director

1.	STATUTORY INFORMATION

Shormil Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company and its subsidiary undertaking comprise a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts. The financial statements therefore present information about the company as an individual undertaking and not about the group.

The functional currency of Shormil Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the company operates.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are 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. Therefore 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Within the company, the area where there is significant estimation of uncertainty is Investment Property. The Investment Property has been partly valued by an Independent Valuer at fair value. The remaining properties have been valued by the directors at what they believe to be fair value.

Turnover

Turnover represents the amounts invoiced, excluding value added tax, in respect of rental, management and hire charges.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc - 25% on reducing balance and 15% on reducing balance.

Residual value represents the estimated amount which would currently be obtained from disposing 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.

Investment property

Investment property is included at fair value. Gains on sale are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments

Investments are stated at cost, but are written down to their net realisable value if there has been a permanent diminution of their value. Income on investments is included in the financial statements when amounts are received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2025 - 7 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

Cost

At 1 August 2025

328,692

Additions

50,950

Disposals

(84,350

)

At 31 July 2026

295,292

Depreciation

At 1 August 2025

196,387

Charge for year

25,973

Eliminated on disposal

(48,397

)

At 31 July 2026

173,963

Net book value

At 31 July 2026

121,329

At 31 July 2025

132,305

Plant and machinery includes assets at cost of £65,778 (2025: £65,778) and accumulated depreciation of £60,561 (2025: £59,783) in respect of assets held for use in operating leases.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

Cost

At 1 August 2025

and 31 July 2026

1

Net book value

At 31 July 2026

1

At 31 July 2025

1

6.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 August 2025

14,611,302

Additions

705,295

Revaluations

15,329

At 31 July 2026

15,331,926

Net book value

At 31 July 2026

15,331,926

At 31 July 2025

14,611,302

The fair value of fixed assets includes an amount of £15,331,926 (2025: £14,611,302) in respect of investment properties held for use in operating leases.

Fair value at 31 July 2026 is represented by:

£

Valuation in 2017

4,498,494

Valuation in 2018

193,110

Valuation in 2019

496,214

Valuation in 2020

293,205

Valuation in 2021

749,231

Valuation in 2022

788,378

Valuation in 2023

43,476

Valuation in 2024

(665,000

)

Valuation in 2025

(20,000

)

Valuation in 2026

15,329

Cost

8,939,489

15,331,926

If investment property had not been revalued it would have been included at the following historical cost:

2026

2025

£

£

Cost

8,939,489

8,234,194

Investment property was valued on a fair value basis on 1 September 2026 by A Goodwin MRICS, John Goodwin & Sons Ltd .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

65,380

57,901

Prepayments

33,754

29,891

99,134

87,792

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

27,206

19,255

Tax

78,013

77,548

Social security and other taxes

34,409

31,019

Other creditors

14,101

13,692

Directors' current accounts

1,700,000

1,155,000

Accruals and deferred income

37,717

63,629

1,891,446

1,360,143

9.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

1,025,267

1,015,551

Deferred

tax

£

Balance at 1 August 2025

1,015,551

Charge to Income Statement during year

9,716

Balance at 31 July 2026

1,025,267

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

10,000

Ordinary

£1

10,000

10,000

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 August 2025

6,099,554

6,377,108

12,476,662

Profit for the year

243,582

243,582

Fair value adjustments

-

15,329

15,329

At 31 July 2026

6,343,136

6,392,437

12,735,573

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors is £1,700,000 (2025: £1,155,000) owed to the directors. Interest has been charged on the loans at 6.5%. The loans are repayable on demand and are unsecured.

13.	RELATED PARTY DISCLOSURES

During the year, Mrs P J Sutherland-Rose, Mrs C M Gurney and Mrs L M Matthews jointly sold a residential property to the company at its fair market value of £650,000. The consideration has been added equally to the 3 Directors' loan accounts (£216,667 each).