Sunny Place Ltd - Accounts to registrar (filleted) - small 18.2
Sunny Place Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2018 |
| for |
| Sunny Place Ltd |
| Sunny Place Ltd (Registered number: 08603463) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Sunny Place Ltd |
| Company Information |
| for the Year Ended 31 July 2018 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Suite 203, 2nd Floor |
| China House |
| 401 Edgware Road |
| London |
| NW2 6GY |
| Sunny Place Ltd (Registered number: 08603463) |
| Balance Sheet |
| 31 July 2018 |
| 31.7.18 | 31.7.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Non-distributable reserve |
| Retained earnings | ( |
) | ( |
) |
| The director acknowledges his 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. |
| Sunny Place Ltd (Registered number: 08603463) |
| Balance Sheet - continued |
| 31 July 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| Sunny Place Ltd (Registered number: 08603463) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2018 |
| 1. | STATUTORY INFORMATION |
| Sunny Place Ltd is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
| of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
| Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost |
| convention as modified by the revaluation of certain assets, and in accordance with the accounting policies set |
| out below. |
| Going concern |
| At 31 July 2018, the balance sheet showed net current liabilities of £58,876 (2017 - £58,887) but net assets of |
| £550,185 (2017 - £530,174). The director has given an undertaking to financially support the company for at |
| least 12 months from the date of signature on the balance sheet. The situation will be reviewed after this time. On |
| this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. |
| Turnover |
| Turnover represents the total value, excluding value added tax and trade discounts, of rent receivable. Fees |
| charged for the property are recognised over the period of rental. |
| Investment property |
| In accordance with the provisions of section 1A "Small Entities" of Financial Reporting Standard 102 "The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland", investment properties are revalued |
| annually and the aggregate surplus or deficit is transferred to revaluation reserve. No depreciation is provided in |
| respect of investment properties. |
| The Companies Act 2006 requires all properties to be depreciated. However this requirement conflicts with the |
| generally accepted accounting principle set out in section 1A "Small Entities" of Financial Reporting Standard |
| 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The director considers |
| that because the property is not held for consumption but for its investment potential, to depreciate it would not |
| give true and fair view, and that is necessary to adopt section 1A "Small Entities" of Financial Reporting |
| Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" in order to give |
| true and fair view. Depreciation is only one of the many factors reflected in the annual valuation and the amount |
| which might otherwise have been shown cannot be separately identified or quantified. |
| 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. |
| Sunny Place Ltd (Registered number: 08603463) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Provisions and accruals |
| Provisions are recognised when there is a present legal or constructive obligation as a result of past events and |
| the amount can be reliably estimated. Provisions are not recognised for future operating losses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 August 2017 |
| and 31 July 2018 |
| NET BOOK VALUE |
| At 31 July 2018 |
| At 31 July 2017 |
| Savills Chartered Surveyors carried out property valuation in 2017 and valued the property at £1,650,000. |
| In the opinion of the director, the market value of the property at the balance sheet date was £1,650,000 on an |
| open market basis. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.18 | 31.7.17 |
| £ | £ |
| Amounts owed by group undertakings |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.18 | 31.7.17 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Other creditors |
| Directors' current accounts | 51,968 | 43,227 |
| Accrued expenses |
| Sunny Place Ltd (Registered number: 08603463) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2018 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.7.18 | 31.7.17 |
| £ | £ |
| Bank loans more 5 yrs non-inst | 897,450 | 917,450 |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.7.18 | 31.7.17 |
| £ | £ |
| Bank loans |
| Bank loans include fixed and floating charges. The floating charge covers all of the property or undertaking of |
| the company. The charges also contain a negative pledge. |
| 9. | PROVISIONS FOR LIABILITIES |
| 31.7.18 | 31.7.17 |
| £ | £ |
| Deferred tax | 143,489 | 143,489 |
| Deferred |
| tax |
| £ |
| Balance at 1 August 2017 |
| Balance at 31 July 2018 |