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

REGISTERED NUMBER: 05395009 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

Sunset Estates Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Tangible assets

3

-

-

Investment property

4

770,000

476,331

770,000

476,331

CURRENT ASSETS

Stocks

5

-

410,848

Debtors

6

758,549

253,365

Investments

7

-

17,780

Cash at bank

3,655

161,155

762,204

843,148

CREDITORS

Amounts falling due within one year

8

1,066,715

1,095,641

NET CURRENT LIABILITIES

(304,511

)

(252,493

)

TOTAL ASSETS LESS CURRENT LIABILITIES

465,489

223,838

CREDITORS

Amounts falling due after more than one year

9

289,781

220,000

PROVISIONS FOR LIABILITIES

10

30,047

384

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Fair value reserve

11

128,097

1,537

Retained earnings

16,564

917

SHAREHOLDERS' FUNDS

145,661

3,454

465,489

223,838

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 30 November 2018 and were signed on its behalf by:

Mr Niraj Dhirajlal Shah - Director

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 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.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

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.

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.

3.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2017

and 31 March 2018

345

480

825

DEPRECIATION

At 1 April 2017

and 31 March 2018

345

480

825

NET BOOK VALUE

At 31 March 2018

-

-

-

At 31 March 2017

-

-

-

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

476,331

Additions

137,446

Revaluations

156,223

At 31 March 2018

770,000

NET BOOK VALUE

At 31 March 2018

770,000

At 31 March 2017

476,331

Fair value at 31 March 2018 is represented by:

£

Valuation in 2016

1,921

Valuation in 2018

156,223

Cost

611,856

770,000

5.

STOCKS

31.3.18

31.3.17

£

£

Closing Stock of Properties

-

410,848

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

During the year ended 31 March 2018, Sunset Estates Ltd has provided an interest free loan of £405,000 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

31.3.18

31.3.17

£

£

Other Investments

-

17,780

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

During the year ended 31 March 2018, 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 4.0%. 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 2018, Sunset Estates Ltd has entered into a loan agreements with non-related

parties. The loans have been provided to Sunset Estates Ltd at an interest rate of 6% . These loans are 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

31.3.18

31.3.17

£

£

Bank loans - 2-5 years

289,781

220,000

10.	PROVISIONS FOR LIABILITIES

31.3.18

31.3.17

£

£

Deferred tax

Accelerated capital allowances

30,047

384

Deferred

tax

£

Balance at 1 April 2017

384

Deferred Tax

29,663

Balance at 31 March 2018

30,047

11.

RESERVES

Fair

value

reserve

£

At 1 April 2017

1,537

Undistributable Reserves

126,560

At 31 March 2018

128,097

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES