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SUNAG CORPORATION (EUROPE) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2023 TO 9 SEPTEMBER 2024






SUNAG CORPORATION (EUROPE) LIMITED (REGISTERED NUMBER: 02978991)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 9 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUNAG CORPORATION (EUROPE) LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2023 TO 9 SEPTEMBER 2024







DIRECTOR: Mr K B Patel



REGISTERED OFFICE: Unit 1
Sherbourne House
South Harrow
Middlesex
HA2 0LH



REGISTERED NUMBER: 02978991 (England and Wales)



ACCOUNTANTS: Akshar & Company
Chartered Accountants
221 Kenton Lane
Harrow
Middlesex
HA3 8RP



BANKERS: Barclays Bank Plc
Alperton Branch
220 Ealing Road
Wembley
Middlesex
HA0 4QH

SUNAG CORPORATION (EUROPE) LIMITED (REGISTERED NUMBER: 02978991)

BALANCE SHEET
9 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 201,368
Investment property 5 780,000 725,000
780,000 926,368

CURRENT ASSETS
Stocks - 11,350
Debtors 6 3,963 749,542
Cash at bank 1,283,317 768,137
1,287,280 1,529,029
CREDITORS
Amounts falling due within one year 7 (17,274 ) 314,100
NET CURRENT ASSETS 1,304,554 1,214,929
TOTAL ASSETS LESS CURRENT LIABILITIES 2,084,554 2,141,297

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 21,358 (33,642 )
Retained earnings 2,063,096 2,174,839
SHAREHOLDERS' FUNDS 2,084,554 2,141,297

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 9 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 9 September 2024 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.

SUNAG CORPORATION (EUROPE) LIMITED (REGISTERED NUMBER: 02978991)

BALANCE SHEET - continued
9 SEPTEMBER 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 director and authorised for issue on 10 September 2024 and were signed by:





Mr K B Patel - Director


SUNAG CORPORATION (EUROPE) LIMITED (REGISTERED NUMBER: 02978991)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 9 SEPTEMBER 2024

1. STATUTORY INFORMATION

Sunag Corporation (Europe) Limited 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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 contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

SUNAG CORPORATION (EUROPE) LIMITED (REGISTERED NUMBER: 02978991)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 9 SEPTEMBER 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Long and
leasehold fittings Totals
£    £    £   
COST
At 1 April 2023 230,458 36,799 267,257
Disposals (230,458 ) (36,799 ) (267,257 )
At 9 September 2024 - - -
DEPRECIATION
At 1 April 2023 32,263 33,626 65,889
Eliminated on disposal (32,263 ) (33,626 ) (65,889 )
At 9 September 2024 - - -
NET BOOK VALUE
At 9 September 2024 - - -
At 31 March 2023 198,195 3,173 201,368

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 725,000
Revaluations 55,000
At 9 September 2024 780,000
NET BOOK VALUE
At 9 September 2024 780,000
At 31 March 2023 725,000

Fair value at 9 September 2024 is represented by:
£   
Valuation in 2016 534,350
Valuation in 2017 338,679
Valuation in 2018 (7,323 )
Valuation in 2019 11,294
Valuation in 2020 8,000
Valuation in 2021 (30,000 )
Valuation in 2022 (5,000 )
Valuation in 2023 (125,000 )
Valuation in 2024 55,000
780,000

SUNAG CORPORATION (EUROPE) LIMITED (REGISTERED NUMBER: 02978991)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 9 SEPTEMBER 2024

5. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 760,936 760,936

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 707,710
Other debtors 3,963 41,832
3,963 749,542

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 40,098
Taxation and social security (17,274 ) 46,920
Other creditors - 227,082
(17,274 ) 314,100

8. RESERVES
Fair
value
reserve
£   
At 1 April 2023 (33,642 )
Investment revaluation reserve 55,000

At 9 September 2024 21,358