| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2025 |
| for |
| Shormil Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2025 |
| for |
| Shormil Limited |
| Shormil Limited (Registered number: 02131840) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Shormil Limited |
| Company Information |
| for the Year Ended 31 July 2025 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| 10 The Southend |
| Ledbury |
| Herefordshire |
| HR8 2EY |
| Shormil Limited (Registered number: 02131840) |
| Statement of Financial Position |
| 31 July 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Shormil Limited (Registered number: 02131840) |
| Statement of Financial Position - continued |
| 31 July 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Shormil Limited (Registered number: 02131840) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2025 |
| 1. | STATUTORY INFORMATION |
| Shormil Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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. |
| Shormil Limited (Registered number: 02131840) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| Shormil Limited (Registered number: 02131840) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2025 |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Plant and |
| machinery |
| etc |
| £ |
| Cost |
| At 1 August 2024 |
| Additions |
| Disposals | ( |
) |
| At 31 July 2025 |
| Depreciation |
| At 1 August 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 July 2025 |
| Net book value |
| At 31 July 2025 |
| At 31 July 2024 |
| Plant and machinery includes assets at cost of £65,778 (2024: £73,778) and accumulated depreciation of £59,783 (2024: £65,868) in respect of assets held for use in operating leases. |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| Cost |
| At 1 August 2024 |
| and 31 July 2025 |
| Net book value |
| At 31 July 2025 |
| At 31 July 2024 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| Fair value |
| At 1 August 2024 |
| Additions |
| Disposals | ( |
) |
| Revaluations | (20,000 | ) |
| At 31 July 2025 |
| Net book value |
| At 31 July 2025 |
| At 31 July 2024 |
| Shormil Limited (Registered number: 02131840) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2025 |
| 6. | INVESTMENT PROPERTY - continued |
| The fair value of fixed assets includes an amount of £14,611,302 (2024: £14,870,435) in respect of investment properties held for use in operating leases. |
| Fair value at 31 July 2025 is represented by: |
| £ |
| Valuation in 2016 | 4,616,591 |
| Valuation in 2017 | (118,097 | ) |
| 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 | ) |
| Cost | 8,234,194 |
| 14,611,302 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 8,234,194 | 8,473,327 |
| Investment property was valued on a fair value basis on 31 July 2025 by the directors . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | 1,155,000 | 1,694,744 |
| Accruals and deferred income |
| Shormil Limited (Registered number: 02131840) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2025 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 10,000 | 10,000 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| Included in creditors is £1,155,000 (2024: £1,694,744) owed to the directors. Interest has been charged on the loans at 6%. The loans are repayable on demand and are unsecured. |