Sunrise Properties (Wolverhampton) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02807147

SUNRISE PROPERTIES (WOLVERHAMPTON)

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K S Sandhu

S S Kular

A S Sandhu

S Kular

SECRETARY:

K S Sandhu

REGISTERED OFFICE:

Sunrise House

Marston Road

Blakenhall

Wolverhampton

West Midlands

WV2 4NJ

REGISTERED NUMBER:

02807147

ACCOUNTANTS:

Wallace Crooke

Chartered Accountants

College House

St. Leonards Close

Bridgnorth

Shropshire

WV16 4EJ

FIXED ASSETS

Investment property

4

2,091,714

2,064,297

CURRENT ASSETS

Debtors

5

5,324

6,470

Cash at bank

5,473

20,056

10,797

26,526

CREDITORS

Amounts falling due within one year

6

637,931

690,676

NET CURRENT LIABILITIES

(627,134

)

(664,150

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,464,580

1,400,147

CREDITORS

Amounts falling due after more than one year

7

745,292

821,462

NET ASSETS

719,288

578,685

CAPITAL AND RESERVES

Called up share capital

9

160

160

Retained earnings

10

719,128

578,525

SHAREHOLDERS' FUNDS

719,288

578,685

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 15 May 2020 and were signed on its behalf by:

K S Sandhu - Director

1.	STATUTORY INFORMATION

Sunrise Properties (Wolverhampton) 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.

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.

Turnover

Turnover represents rents receivable in respect of investment properties.

Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

Taxation

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

4.	INVESTMENT PROPERTY

Total

£

COST

At 1 January 2019

2,117,897

Additions

27,417

At 31 December 2019

2,145,314

DEPRECIATION

At 1 January 2019

and 31 December 2019

53,600

NET BOOK VALUE

At 31 December 2019

2,091,714

At 31 December 2018

2,064,297

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

5,070

4,700

Prepayments

254

1,770

5,324

6,470

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

78,553

76,778

Amounts owed to participating interests

483,524

533,524

Corporation tax

21,490

25,896

Social security and other taxes

165

279

Directors' current accounts

53,399

53,399

Accrued expenses

800

800

637,931

690,676

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Mortgage - 2 - 5 Years

314,212

307,112

Mortgage over 5 years

431,080

514,350

745,292

821,462

Amounts falling due in more than five years:

Repayable by instalments

Mortgage over 5 years

431,080

514,350

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

823,845

898,240

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

160

Ordinary shares

£1

160

160

10.

RESERVES

Retained

earnings

£

At 1 January 2019

578,525

Profit for the year

140,603

At 31 December 2019

719,128

11.	ULTIMATE CONTROLLING PARTY