Sunset Estates Limited - Accounts to registrar - small 17.2
Sunset Estates Limited - Accounts to registrar - small 17.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2017 |
for |
Sunset Estates Limited |
Sunset Estates Limited (Registered number: 05395009) |
Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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 2017 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BANKERS: |
8 Lochside Avenue |
Edinburgh |
EH12 9DJ |
Sunset Estates Limited (Registered number: 05395009) |
Statement of Financial Position |
31 March 2017 |
31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
Investment property | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Investments | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
PROVISIONS FOR LIABILITIES | 10 |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
223,838 | 13,535 |
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. |
Sunset Estates Limited (Registered number: 05395009) |
Statement of Financial Position - continued |
31 March 2017 |
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 on |
Sunset Estates Limited (Registered number: 05395009) |
Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
1. | STATUTORY INFORMATION |
Sunset Estates Limited is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
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. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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. |
Sunset Estates Limited (Registered number: 05395009) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
3. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 April 2016 |
and 31 March 2017 |
DEPRECIATION |
At 1 April 2016 |
Charge for year |
At 31 March 2017 |
NET BOOK VALUE |
At 31 March 2017 |
At 31 March 2016 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2016 |
Additions |
At 31 March 2017 |
NET BOOK VALUE |
At 31 March 2017 |
At 31 March 2016 |
5. | STOCKS |
31.3.17 | 31.3.16 |
£ | £ |
Closing Stock of Properties | 410,848 | 841,304 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
During the year ended 31 March 2017, Sunset Estates Ltd has provided an interest free loan of £250,000 to a |
related company. The loan is repayable on demand, hence the amounts are being reflected accordingly under |
Debtors - Less Than One Year Account. |
7. | CURRENT ASSET INVESTMENTS |
31.3.17 | 31.3.16 |
£ | £ |
Other Investments |
Sunset Estates Limited (Registered number: 05395009) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
During the year ended 31 March 2017, Sunset Estates Ltd has entered into a loan agreement with a related |
company. The loan has been provided by the related company at an interest rate of 4%. The loan is repayable on |
demand, hence the amounts are being reflected accordingly under Creditors - Less Than One Year Account. |
During the year ended 31 March 2017, Sunset Estates Ltd has entered into a loan agreement with a non-related |
party. The loan has been provided to Sunset Estates Ltd at an interest rate of 6%. The loan is |
repayable on demand, hence the amounts are being reflected accordingly under Creditors - Less Than One Year |
Account. |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Bank loans |
10. | PROVISIONS FOR LIABILITIES |
31.3.17 | 31.3.16 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 April 2016 |
Accelerated Capital Allowances | (15 | ) |
Balance at 31 March 2017 |
11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2016 |
and 31 March 2017 |
12. | RELATED PARTY DISCLOSURES |
As at 31 March 2017, Sunset Estates Ltd owed £41,645.78 to its directors. This amount is reflected |
accordingly in the director's loan account in credit balances, which is shown under Creditors due within one year. |
Please be advised that the loan has been provided on an interest free basis and the loan is payable on demand. |