Sunset Estates Limited - Accounts to registrar (filleted) - small 18.2

Sunset Estates Limited - Accounts to registrar (filleted) - small 18.2

SUNSET ESTATES LIMITED - Company Information

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REGISTERED NUMBER: 05395009 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2020

for

Sunset Estates Limited
Sunset Estates Limited (Registered number: 05395009)






Contents of the Financial Statements
for the Year Ended 31 March 2020




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Sunset Estates Limited

Company Information
for the Year Ended 31 March 2020







DIRECTORS: Mr Sarju Dhirajlal Shah
Mr Niraj Dhirajlal Shah



REGISTERED OFFICE: Devonshire House
582 Honeypot Lane
Stanmore
MIDDLESEX
HA7 1JS



REGISTERED NUMBER: 05395009 (England and Wales)



BANKERS: Bank of Scotland
8 Lochside Avenue
Edinburgh
EH12 9DJ
Page 1
Sunset Estates Limited (Registered number: 05395009)

Statement of Financial Position
31 March 2020

31.3.20 31.3.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 808,168 747,000
808,168 747,000

CURRENT ASSETS
Debtors 6 113,525 52,880
Cash at bank 23,869 10,454
137,394 63,334
CREDITORS
Amounts falling due within one year 7 597,714 451,847
NET CURRENT LIABILITIES (460,320 ) (388,513 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
347,848
358,487

CREDITORS
Amounts falling due after more than one
year
8
263,723
277,220

PROVISIONS FOR LIABILITIES 22,068 16,474

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 9 94,080 70,230
Retained earnings (33,023 ) (6,437 )
SHAREHOLDERS' FUNDS 62,057 64,793
347,848 358,487

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 notes on pages 4 to 6 form part of these financial statements

Page 2 continued...
Sunset Estates Limited (Registered number: 05395009)

Statement of Financial Position - continued
31 March 2020


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 16 October 2020 and were signed on its behalf by:





Mr Niraj Dhirajlal Shah - Director


The notes on pages 4 to 6 form part of these financial statements

Page 3
Sunset Estates Limited (Registered number: 05395009)

Notes to the Financial Statements
for the Year Ended 31 March 2020

1. STATUTORY INFORMATION

Sunset Estates 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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 10% on reducing balance

Investment property
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2019 - NIL).

Page 4 continued...
Sunset Estates Limited (Registered number: 05395009)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2019
and 31 March 2020 825
DEPRECIATION
At 1 April 2019
and 31 March 2020 825
NET BOOK VALUE
At 31 March 2020 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2019 747,000
Additions 31,168
Revaluations 30,000
At 31 March 2020 808,168
NET BOOK VALUE
At 31 March 2020 808,168
At 31 March 2019 747,000

Fair value at 31 March 2020 is represented by:

£   
Valuation in 2016 1,921
Valuation in 2018 156,223
Valuation in 2019 (71,996 )
Valuation in 2020 30,000
Cost 692,020
808,168

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Trade debtors - (700 )
Other debtors 113,525 53,580
113,525 52,880

Page 5 continued...
Sunset Estates Limited (Registered number: 05395009)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Trade creditors 349 209
Taxation and social security (1,836 ) (2,586 )
Other creditors 599,201 454,224
597,714 451,847

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.20 31.3.19
£    £   
Bank loans 263,723 277,220

9. RESERVES
Fair
value
reserve
£   
At 1 April 2019 70,230
Undistributable Reserves 23,850

At 31 March 2020 94,080

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year ended 31 March 2020 Sunset Estates Ltd owed £15,419 to its Director. This amount is reflected in the director`s loan accounts in credit balances, which is shown as part of Other creditor under Creditors due within one year. Please be advised that the director has agreed to provide this loan on an interest free basis and the loan is repayable on demand.

11. RELATED PARTY DISCLOSURES

During the year ended 31 March 2020, Sunset Estates Ltd entered into a short-term loan agreement with a related company, Whitchurch Investments Ltd, and borrowed the loan at a fixed interest rate of 4%. This loan is repayable on demand and hence is shown as part of Other creditors under Creditors due within one year.

During the year ended 31 March 2020 Sunset Estates Ltd entered into a short-term loan agreement with a related company, Rafiki Ltd, and borrowed the loan on an interest free basis. This loan is repayable on demand and is shown as part of Other creditors under Creditors due within one year.

During the year ended 31 March 2020 Sunset Estates Ltd entered into a short-term loan agreement with a related company, Smartview Estates Ltd, and provided the loan on an interest free basis. This loan is repayable on demand and is shown as part of Other debtors under Debtors due within one year.

Page 6