Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-311The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-11-01falseNo description of principal activity1falsetrue 12157682 2022-11-01 2023-10-31 12157682 2021-11-01 2022-10-31 12157682 2023-10-31 12157682 2022-10-31 12157682 c:Director1 2022-11-01 2023-10-31 12157682 d:CurrentFinancialInstruments 2023-10-31 12157682 d:CurrentFinancialInstruments 2022-10-31 12157682 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 12157682 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 12157682 d:ShareCapital 2023-10-31 12157682 d:ShareCapital 2022-10-31 12157682 d:RetainedEarningsAccumulatedLosses 2023-10-31 12157682 d:RetainedEarningsAccumulatedLosses 2022-10-31 12157682 c:OrdinaryShareClass1 2022-11-01 2023-10-31 12157682 c:FRS102 2022-11-01 2023-10-31 12157682 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 12157682 c:FullAccounts 2022-11-01 2023-10-31 12157682 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12157682 2 2022-11-01 2023-10-31 12157682 6 2022-11-01 2023-10-31 12157682 e:PoundSterling 2022-11-01 2023-10-31 12157682 d:EntityControlledByKeyManagementPersonnel1 2022-11-01 2023-10-31 12157682 d:EntityControlledByKeyManagementPersonnel1 2023-10-31 12157682 d:EntityControlledByKeyManagementPersonnel2 2022-11-01 2023-10-31 12157682 d:EntityControlledByKeyManagementPersonnel2 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 12157682









SUNNY ASSET MANAGEMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
SUNNY ASSET MANAGEMENT LIMITED
REGISTERED NUMBER: 12157682

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023


2023

2022
Note
£
£
£
£

Fixed assets
  

Investments
 4 
400
300

  
400
300

Current assets
  

Stocks
 5 
247,280
270,998

Debtors
 6 
1,396,880
9,400

Cash at bank and in hand
 7 
579
220

  
1,644,739
280,618

Creditors: amounts falling due within one year
 8 
(1,397,420)
(600)

Net current assets
  
 
 
247,319
 
 
280,018

Total assets less current liabilities
  
247,719
280,318

  

Net assets
  
247,719
280,318


Capital and reserves
  

Called up share capital 
 9 
200
200

Profit and loss account
  
247,519
280,118

  
247,719
280,318


Page 1

 
SUNNY ASSET MANAGEMENT LIMITED
REGISTERED NUMBER: 12157682
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 July 2024.




V Kakkar
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
SUNNY ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Sunny Asset Management Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 11th Floor, The Mille, 1000 Great West Road, Brentford, TW8 9DW.
The company is a holding company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

Page 3

 
SUNNY ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees



The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
SUNNY ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 November 2022
300


Additions
100



At 31 October 2023
400





5.


Stocks

2023
2022
£
£

Other stocks
247,280
270,998

247,280
270,998



6.


Debtors

2023
2022
£
£



Amounts owed by group undertakings
1,396,580
9,100

Other debtors
300
300

1,396,880
9,400



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
579
220

579
220


Page 5

 
SUNNY ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
1,048,820
-

Other creditors
348,600
600

1,397,420
600



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



200 Ordinary shares of £1 each
200
200



10.


Related party transactions

The company has adopted the exemption permitted by Financial Reporting Standard 102, not to disclose any transactions with any wholly owned members of the group.
 
Included within other creditors is an amount of £348,000 (2022- £Nil) owed to a company with a common director.
 
Included within other creditors is an amount of £600 (2022 - £600) owed to the director.


11.


Controlling party

The company is controlled by the director, by virtue of his 100% shareholding.

 
Page 6