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Company No: 13690196 (England and Wales)

SUNSET DISPLAYS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

SUNSET DISPLAYS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

SUNSET DISPLAYS LIMITED

BALANCE SHEET

As at 31 October 2023
SUNSET DISPLAYS LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 31.10.2023 31.10.2022
£ £
Fixed assets
Tangible assets 3 127,087 132,533
127,087 132,533
Current assets
Debtors 4 7,922 4,940
Cash at bank and in hand 23,536 25,395
31,458 30,335
Creditors: amounts falling due within one year 5 ( 171,153) ( 166,802)
Net current liabilities (139,695) (136,467)
Total assets less current liabilities (12,608) (3,934)
Net liabilities ( 12,608) ( 3,934)
Capital and reserves
Called-up share capital 2 2
Profit and loss account ( 12,610 ) ( 3,936 )
Total shareholders' deficit ( 12,608) ( 3,934)

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Sunset Displays Limited (registered number: 13690196) were approved and authorised for issue by the Board of Directors on 30 March 2024. They were signed on its behalf by:

N J W Reid
Director
SUNSET DISPLAYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
SUNSET DISPLAYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Sunset Displays Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Poplars Cottage The Paddocks, Mollington, Banbury, England, OX17 1BW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Plant and machinery not depreciated
15 years straight line
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Year ended
31.10.2023
Period from
19.10.2021 to
31.10.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 November 2022 140,749 1,157 141,906
Additions 5,121 0 5,121
At 31 October 2023 145,870 1,157 147,027
Accumulated depreciation
At 01 November 2022 9,373 0 9,373
Charge for the financial year 10,278 289 10,567
At 31 October 2023 19,651 289 19,940
Net book value
At 31 October 2023 126,219 868 127,087
At 31 October 2022 131,376 1,157 132,533

4. Debtors

31.10.2023 31.10.2022
£ £
Trade debtors 7,774 4,800
Other debtors 148 140
7,922 4,940

5. Creditors: amounts falling due within one year

31.10.2023 31.10.2022
£ £
Trade creditors 0 3,950
Other taxation and social security 2,781 1,918
Other creditors 168,372 160,934
171,153 166,802