REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2023 |
FOR |
SUNRISE INVESTMENTS RE LTD |
REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2023 |
FOR |
SUNRISE INVESTMENTS RE LTD |
SUNRISE INVESTMENTS RE LTD (REGISTERED NUMBER: 10679169) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SUNRISE INVESTMENTS RE LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 MARCH 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
www.michaelfiliou.com |
Salisbury House |
81 High Street |
Potters Bar |
Hertfordshire |
EN6 5AS |
SUNRISE INVESTMENTS RE LTD (REGISTERED NUMBER: 10679169) |
ABRIDGED BALANCE SHEET |
30 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium | 8 |
Retained earnings | 8 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
SUNRISE INVESTMENTS RE LTD (REGISTERED NUMBER: 10679169) |
ABRIDGED BALANCE SHEET - continued |
30 MARCH 2023 |
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 and authorised for issue on |
SUNRISE INVESTMENTS RE LTD (REGISTERED NUMBER: 10679169) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2023 |
1. | STATUTORY INFORMATION |
Sunrise Investments Re Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Sunrise Investments Re Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Tangible fixed assets |
Freehold property | - |
Investments in subsidiaries and associates |
Investments in subsidiary and associate undertakings are recognised at cost. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
SUNRISE INVESTMENTS RE LTD (REGISTERED NUMBER: 10679169) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 MARCH 2023 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 31 March 2022 |
and 30 March 2023 |
NET BOOK VALUE |
At 30 March 2023 |
At 30 March 2022 |
6. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 31 March 2022 | 10,157 |
Impairments | (670 | ) |
At 30 March 2023 | 9,487 |
NET BOOK VALUE |
At 30 March 2023 | 9,487 |
At 30 March 2022 | 10,157 |
Investments (neither listed nor unlisted) were as follows: |
2023 | 2022 |
£ | £ |
JV in Hightel Towers SPA | 514,933 | - |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiary |
Registered office: c/o Michael Filiou Ltd, Salisbury House, 81 High Street, Potters Bar, Hertfordshire EN6 5AS |
Nature of business: |
% |
Class of shares: | holding |
Associated companies |
Registered office: 9 Devonshire Square, 3 Floor, London, United Kingdom EC2M 4YD |
Nature of business: |
% |
Class of shares: | holding |
SUNRISE INVESTMENTS RE LTD (REGISTERED NUMBER: 10679169) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 MARCH 2023 |
6. | FIXED ASSET INVESTMENTS - continued |
Registered office: 14 Ermine Mews, Laburnum Street, London, England E2 8BF |
Nature of business: |
% |
Class of shares: | holding |
Information on loans is as follows: |
Totals |
£ |
At 31 March 2022 |
and 30 March 2023 |
The company also has investments in the following unlisted entities: |
Name of entity |
Registered office |
Nature of business |
Class of shares |
% holding |
Energetica SRL in Liquidazione | Italy | Solar panels | Ordinary | 16.67 |
Setha Wellingborough Ltd | United Kingdom | Real estate | Ordinary | 8.00 |
The company has an agreement with a third party to hold the 8% participating interest in Setha Wellingborough Ltd equally. The third party has made an equal contribution to this investment. |
The investment in and loan to a subsidiary, Biotech Group Ltd, has been written down to £Nil as it was dissolved after date in May 2023. |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
A Ordinary | €0.01 | 261 | 261 |
NIL | B Ordinary | €0.01 | - | 302 |
5,620 | C Ordinary | €0.01 | 49 | 49 |
310 | 612 |
On 15 February 2023, the company repurchased and cancelled 34,753 of its own B Ordinary shares of €0.01 each at €47,29 per share totalling €1,643,469 (£1,428,980) as entitled per the Articles of the company. |
8. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 31 March 2022 | ( |
) | 2,464,357 |
Deficit for the year | ( |
) | ( |
) |
Purchase of own shares | - | (1,428,678 | ) | (1,428,678 | ) |
At 30 March 2023 | ( |
) | 954,956 |
SUNRISE INVESTMENTS RE LTD (REGISTERED NUMBER: 10679169) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 MARCH 2023 |
9. | RELATED PARTY DISCLOSURES |
MCR United Ltd |
At the balance sheet date, the company was owed by its subsidiary, MCR United Ltd, loans totalling £164,700 (2022 - £154,700). |
District One Group Ltd |
At the balance sheet date, the company was owed by its associate, District One Group Ltd, loans totalling £9,350 (2022 - £9,350). |
Arquinaut Limited |
At the balance sheet date, the company was owed by its associate, Arquinaut Limited, loans totalling £87,950 (2022 - £87,950). |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is the director, Mr Roberto Saija, and his wife, Mrs Maria Puleio. |
They control the company by virtue of their majority shareholdings in the issued share capital of the company. |