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Registration number: 12009327

Sunshine55 Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Sunshine55 Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Sunshine55 Ltd

Company Information

Director

L J Bartram

Registered office

2 Ivy Cottages
Cloford
Frome
Somerset
BA11 4PG

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisors
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Sunshine55 Ltd

(Registration number: 12009327)
Balance Sheet
31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,003

4,575

Current assets

 

Stocks

15,850

11,350

Debtors

5

1,192

5,725

Cash at bank and in hand

 

5,788

4,619

 

22,830

21,694

Creditors: Amounts falling due within one year

6

(26,770)

(26,469)

Net current liabilities

 

(3,940)

(4,775)

Total assets less current liabilities

 

(937)

(200)

Creditors: Amounts falling due after more than one year

6

(23,548)

(27,935)

Net liabilities

 

(24,485)

(28,135)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(24,486)

(28,136)

Shareholders' deficit

 

(24,485)

(28,135)

 

Sunshine55 Ltd

(Registration number: 12009327)
Balance Sheet
31 May 2023

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 13 February 2024
 



L J Bartram
Director

 

Sunshine55 Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Ivy Cottages
Cloford
Frome
Somerset
BA11 4PG

These financial statements were authorised for issue by the director on 13 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Sunshine55 Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 May 2023

Tax

The tax expense for the period comprises current tax and is recognised in the profit or loss account.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% Straight line

Office Equipment

3 years Straight line

Motor Vehicles

25% Straight line

Trade debtors

Trade debtors are amounts due from customers for goods sold in the ordinary course of business and are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

Sunshine55 Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 May 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest expense is recognised in the Profit and Loss Account and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2022

620

790

5,000

6,410

At 31 May 2023

620

790

5,000

6,410

Depreciation

At 1 June 2022

186

399

1,250

1,835

Charge for the year

62

260

1,250

1,572

At 31 May 2023

248

659

2,500

3,407

Carrying amount

At 31 May 2023

372

131

2,500

3,003

At 31 May 2022

434

391

3,750

4,575

 

Sunshine55 Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 May 2023

5

Debtors

2023
£

2022
£

Trade debtors

882

5,184

Prepayments

310

541

1,192

5,725

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

7,167

7,167

Trade creditors

2,741

6,254

Taxation and social security

2,266

2,216

Other creditors

14,596

10,832

26,770

26,469

Due after one year

Loans and borrowings

23,548

27,935