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REGISTERED NUMBER: 12564681 (England and Wales)















SUNKARI LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024






SUNKARI LTD (REGISTERED NUMBER: 12564681)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SUNKARI LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: U Baden
S Rani





REGISTERED OFFICE: 3 Redthorne Grove
Kenilworth
Warwick
CV8 2EF





REGISTERED NUMBER: 12564681 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
The Exchange
5 Bank Street
Bury
BL9 0DN

SUNKARI LTD (REGISTERED NUMBER: 12564681)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 66,796 86,401
Investments 5 1,600 100
68,396 86,501

CURRENT ASSETS
Inventories 6 180,000 206,058
Debtors 7 634,671 333,818
Cash at bank 6,877 3,457
821,548 543,333
CREDITORS
Amounts falling due within one year 8 (640,060 ) (429,483 )
NET CURRENT ASSETS 181,488 113,850
TOTAL ASSETS LESS CURRENT
LIABILITIES

249,884

200,351

CREDITORS
Amounts falling due after more than one
year

9

(39,599

)

(48,451

)
NET ASSETS 210,285 151,900

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 200,285 141,900
210,285 151,900

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SUNKARI LTD (REGISTERED NUMBER: 12564681)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





U Baden - Director


SUNKARI LTD (REGISTERED NUMBER: 12564681)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Sunkari Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 12564681 and its registered office address is 3 Redthorne Grove, Kenilworth, CV8 2EF.

2. ACCOUNTING POLICIES

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

Going concern
The company has been profitable during the year, and is expected to make further profits on sales of developments currently in progress within the next 12 months. The company also benefits from the ongoing support of its directors for cashflow management. Therefore, the directors consider it reasonable to prepare the financial statements on a going concern basis.

Preparation of consolidated financial statements
The financial statements contain information about Sunkari 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.

Critical accounting judgements and estimates
The are currently no accounting judgements or estimates that are considered critical by the directors.

Revenue
Revenue comprises the aggregate of the fair value of the sale of goods and services, net of rebates, discounts and VAT.

Revenue from the sale of properties is recognised at the date of exchange of contracts.

Revenue from development work is recognised based on a percentage of completion as at the reporting date. Unbilled revenue is recognised in the statement of financial position as amounts recoverable on contract.

Revenue from project management services are recognised as those services are delivered.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Investments in subsidiaries
Investments in subsidiary undertakings and joint ventures are recognised at cost less accumulated impairment.

Inventories
Inventories comprise the purchase and development costs of property and are valued at the lower of cost and net realisable value. Borrowing costs are capitalised as part of inventory to the extent that they are directly attributable to the development of property. Capitalisation of borrowing costs will cease once the asset is ready for sale.

SUNKARI LTD (REGISTERED NUMBER: 12564681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined benefit contribution pension scheme. Contributions payable to the company's pensions scheme are charged to the income statement in the period to which they relate.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts are capitalised in the statement of financial position and depreciated over their estimated useful lives.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

SUNKARI LTD (REGISTERED NUMBER: 12564681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 May 2023 107,481
Additions 3,782
At 30 April 2024 111,263
DEPRECIATION
At 1 May 2023 21,080
Charge for year 23,387
At 30 April 2024 44,467
NET BOOK VALUE
At 30 April 2024 66,796
At 30 April 2023 86,401

The net book value of assets held under hire purchase is £61,623 (2023: £80,254).

5. FIXED ASSET INVESTMENTS
Shares in Interest
group in joint
undertakings venture Totals
£    £    £   
COST
At 1 May 2023 100 - 100
Additions 1,000 500 1,500
At 30 April 2024 1,100 500 1,600
NET BOOK VALUE
At 30 April 2024 1,100 500 1,600
At 30 April 2023 100 - 100

6. INVENTORIES
2024 2023
£    £   
Inventories 180,000 206,058

Inventory relates to a number of property development projects. The most significant of these projects being the development of residential property at 35a Dane Road, Coventry. The latest market valuation of this property was undertaken by Centrick Valuation & Professional Services on 20 November 2023.

Accounting standards dictate that inventory is measured at the lower of cost and net realisable value. Inventory has been impaired in the current year to reflect the most recent valuers assessment of its net realisable value.

SUNKARI LTD (REGISTERED NUMBER: 12564681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 27,000 -
Amounts owed by group undertakings 330,755 300,131
Amounts recoverable on contracts 207,875 -
Other debtors 69,041 33,687
634,671 333,818

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 8,852 8,851
Trade creditors 53,519 18,816
Amounts owed to group undertakings 188,631 -
Taxation and social security 75,270 46,465
Other creditors 313,788 355,351
640,060 429,483

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 39,599 48,451

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 48,451 57,302

Hire purchase liabilities are secured on the assets to which they relate.

A fixed charge is held over assets being constructed at 35a Dane Road, Coventry.