Sunnydene Investments Limited Filleted accounts for Companies House (small and micro)

SUNNYDENE INVESTMENTS LIMITED - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 92,402 6,289 98,691 13,497 9,869 23,366 75,325 78,905 2,410,342 17,239 2,427,581 2,427,581 2,410,342 xbrli:pure xbrli:shares iso4217:GBP 11854553 2022-04-01 2023-03-31 11854553 2023-03-31 11854553 2022-03-31 11854553 2021-04-01 2022-03-31 11854553 2022-03-31 11854553 core:FurnitureFittings 2022-04-01 2023-03-31 11854553 bus:Director1 2022-04-01 2023-03-31 11854553 core:FurnitureFittings 2022-03-31 11854553 core:FurnitureFittings 2023-03-31 11854553 core:WithinOneYear 2023-03-31 11854553 core:WithinOneYear 2022-03-31 11854553 core:ShareCapital 2023-03-31 11854553 core:ShareCapital 2022-03-31 11854553 core:RetainedEarningsAccumulatedLosses 2023-03-31 11854553 core:RetainedEarningsAccumulatedLosses 2022-03-31 11854553 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 11854553 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-03-31 11854553 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 11854553 core:Non-currentFinancialInstruments 2023-03-31 11854553 core:Non-currentFinancialInstruments 2022-03-31 11854553 core:FurnitureFittings 2022-03-31 11854553 bus:SmallEntities 2022-04-01 2023-03-31 11854553 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11854553 bus:FullAccounts 2022-04-01 2023-03-31 11854553 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 11854553 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31

COMPANY REGISTRATION NUMBER: 11854553

Sunnydene Investments Limited

Filleted Unaudited Financial Statements

31 March 2023

Sunnydene Investments Limited

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	4	75,325	78,905
Investments	5	2,427,581	2,410,342
		------------	------------
		2,502,906	2,489,247

Current assets

Debtors	6	25,251	1
Cash at bank and in hand		368,413	27,114
		---------	--------
		393,664	27,115

Creditors: amounts falling due within one year	7	1,216		2,602,395
		---------		------------
Net current assets/(liabilities)			392,448	( 2,575,280)
			------------	------------
Total assets less current liabilities			2,895,354	( 86,033)
			------------	--------
Net assets/(liabilities)			2,895,354	( 86,033)
			------------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	2,895,353	( 86,034)
	------------	--------
Shareholders funds/(deficit)	2,895,354	( 86,033)
	------------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Sunnydene Investments Limited

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 30 April 2023 , and are signed on behalf of the board by:

Mr N Cable
Director

Company registration number: 11854553

Sunnydene Investments Limited

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Moorings, Dane Road Industrial Estate, Sale, M33 7BH, Cheshire.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the investment property measured at fair value.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	10% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Tangible assets

	Fixtures and fittings
	£
Cost
At 1 April 2022	92,402
Additions	6,289
	--------
At 31 March 2023	98,691
	--------
Depreciation
At 1 April 2022	13,497
Charge for the year	9,869
	--------
At 31 March 2023	23,366
	--------
Carrying amount
At 31 March 2023	75,325
	--------
At 31 March 2022	78,905
	--------

5. Investments

	Investment property
	£
Cost
At 1 April 2022	2,410,342
Additions	17,239
	------------
At 31 March 2023	2,427,581
	------------
Impairment
At 1 April 2022 and 31 March 2023	–
	------------

Carrying amount
At 31 March 2023	2,427,581
	------------
At 31 March 2022	2,410,342
	------------

6. Debtors

	2023	2022
	£	£
Other debtors	25,251	1
	--------	----

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	376	1,615
Other creditors	–	2,600,000
Other creditors	840	780
	-------	------------
	1,216	2,602,395
	-------	------------

8. Related party transactions

The company received an additional £400,000 funding during the current financial year from Manchester Urban Finance Corporation Limited, a company related by common control. These funds were required as the company look to acquire further investments in residential property. The additional funding was also unsecured, interest-free, and repayable on demand. During the latter part of the financial year, after due consideration, it was agreed by all the parties concerned that the loan was to be written off in full.