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Registered number: 03321687


SUNVIL U.K. LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023

 
SUNVIL U.K. LIMITED
 
 
COMPANY INFORMATION


Directors
N C L Josephides 
P V D der Parthog 




Company secretary
C Wright



Registered number
03321687



Registered office
Sunvil House
Upper Square

Old Isleworth

Middlesex

TW7 7BJ




Independent auditors
Xeinadin Audit Limited
Chartered Accountants & Statutory Auditor

8th Floor

Becket House

36 Old Jewry

London

EC2R 8DD





 
SUNVIL U.K. LIMITED
 

CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 6


 
SUNVIL U.K. LIMITED
REGISTERED NUMBER: 03321687

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 6 
80,723
80,723

  
80,723
80,723

Creditors: amounts falling due within one year
 7 
(1,153,461)
(1,153,461)

Net current liabilities
  
 
 
(1,072,738)
 
 
(1,072,738)

  

Net liabilities
  
(1,072,738)
(1,072,738)


Capital and reserves
  

Called up share capital 
 8 
30,000
30,000

Profit and loss account
  
(1,102,738)
(1,102,738)

  
(1,072,738)
(1,072,738)


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 by: 




N C L Josephides
Director

Date: 19 July 2024


The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
SUNVIL U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Sunvil UK Limited is a private company limited by shares incorporated in England and Wales, United Kingdom.
The address of the registered office is given on the Company Information page of these financial statements. 
The principal activity continued to be that of a tour operator and licensed travel agency.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

Based on the continued support from Sunvil International Sales Limited, the directors are confident that the company, will have sufficient funds and cash reserves to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore
have prepared the financial statements on a going concern basis.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
15%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 2

 
SUNVIL U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.6

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.

 
2.7

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
SUNVIL U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.8
Advanced receipts and payments

All revenue received relating to bookings that depart after the Statement of Financial Position date is treated as advance receipts and is separately disclosed under accruals and deferred income.
Payments made to suppliers relating to bookings that depart after the Statement of Financial Position date are treated as advance payments and are separately disclosed under prepayments and accrued income.


3.


Other operating income

2023
2022
£
£

Other operating income
-
407


During the previous year the Company made claims in respect of furloughed employees under the Coronavirus Job Retention Scheme.


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


5.


Tangible fixed assets





Computer equipment

£



Cost


At 1 January 2023
722



At 31 December 2023

722



Depreciation


At 1 January 2023
722



At 31 December 2023

722



Net book value



At 31 December 2023
-



At 31 December 2022
-

Page 4

 
SUNVIL U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
8,410
8,410

Other debtors
72,313
72,313

80,723
80,723



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
1,153,461
1,153,461

1,153,461
1,153,461



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



30,000 (2022 - 30,000) Ordinary shares of £1.00 each
30,000
30,000



9.


Related party transactions

During the year under review, there were £nil (2022: £nil) intercompany recharges with Discovery Worldwide Limited, a connected company. An amount of £8,568 (2022: £8,568) is owed by the Company at the year end.
During the year under review, there were £nil (2022: £nil) intercompany recharges with Sunvil Holidays Limited, a group related entity. An amount of £831,347 (2022: £831,347) is owed by the Company at the year end.
During the year under review, there were £nil (2022: £nil) intercompany recharges with Villa Centre Holidays Limited, a group related entity. An amount of £3,428 (2022: £3,428) is owed by the Company at the year end.
During the year under review, there were £nil (2022: £nil) intercompany recharges with Sunvil International Sales Ltd, the ultimate parent. An amount of £310,118 (2022: £310,118) is owed by the Company at the year end.

Page 5

 
SUNVIL U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Controlling party

The ultimate parent company is Sunvil International Sales Limited, whose registered office and prinicpal place of business is carried out at Sunvil House, Upper Square, Isleworth, Middlesex, TW7 7BJ.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 19 July 2024 by Ian Palmer FCA (Senior Statutory Auditor) on behalf of Xeinadin Audit Limited.

 
Page 6