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REGISTERED NUMBER: 10679169 (England and Wales)














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: Mr Roberto Saija





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 10679169 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
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 5 276,765 276,765
Investments 6 548,797 34,534
825,562 311,299

CURRENT ASSETS
Debtors 262,000 376,015
Cash at bank 100,694 1,783,754
362,694 2,159,769
CREDITORS
Amounts falling due within one year 232,990 6,099
NET CURRENT ASSETS 129,704 2,153,670
TOTAL ASSETS LESS CURRENT
LIABILITIES

955,266

2,464,969

CAPITAL AND RESERVES
Called up share capital 7 310 612
Share premium 8 1,761,564 3,190,242
Retained earnings 8 (806,608 ) (725,885 )
SHAREHOLDERS' FUNDS 955,266 2,464,969

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2023 in accordance with Section 476 of the Companies Act 2006.

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


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 February 2024 and were signed by:





Mr Roberto Saija - Director


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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided

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 2 (2022 - 2 ) .

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 276,765
NET BOOK VALUE
At 30 March 2023 276,765
At 30 March 2022 276,765

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

MCR United Ltd
Registered office: c/o Michael Filiou Ltd, Salisbury House, 81 High Street, Potters Bar, Hertfordshire EN6 5AS
Nature of business: Distribution of confectionery
%
Class of shares: holding
Ordinary 100.00

Associated companies

District One Group Ltd
Registered office: 9 Devonshire Square, 3 Floor, London, United Kingdom EC2M 4YD
Nature of business: Real estate
%
Class of shares: holding
Ordinary 33.33

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

Arquinaut Limited
Registered office: 14 Ermine Mews, Laburnum Street, London, England E2 8BF
Nature of business: Architectural activities
%
Class of shares: holding
Ordinary 50.00
Information on loans is as follows:
Totals
£   
At 31 March 2022
and 30 March 2023 24,377

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: £    £   
30,000 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 (725,885 ) 3,190,242 2,464,357
Deficit for the year (80,723 ) (80,723 )
Purchase of own shares - (1,428,678 ) (1,428,678 )
At 30 March 2023 (806,608 ) 1,761,564 954,956

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.