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REGISTERED NUMBER: 03746452 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Sunlover Ltd

Sunlover Ltd (Registered number: 03746452)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Sunlover Ltd

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr T M Fay
Mrs L Fay





SECRETARY: Mrs L Fay





REGISTERED OFFICE: 30b Waterloo Road
Bidavon Industrial Estate
Bidford-on-Avon
Alcester
Warwickshire
B50 4JN





REGISTERED NUMBER: 03746452 (England and Wales)





ACCOUNTANTS: Clifford Roberts
Chartered Accountants
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

Sunlover Ltd (Registered number: 03746452)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,000 4,000
Tangible assets 5 10,901 10,227
12,901 14,227

CURRENT ASSETS
Stocks 6 89,963 88,012
Debtors 7 143,495 131,280
Cash at bank and in hand 4,308 2,732
237,766 222,024
CREDITORS
Amounts falling due within one year 8 77,103 77,159
NET CURRENT ASSETS 160,663 144,865
TOTAL ASSETS LESS CURRENT
LIABILITIES

173,564

159,092

CREDITORS
Amounts falling due after more than one
year

9

(28,339

)

(33,883

)

PROVISIONS FOR LIABILITIES (2,725 ) (2,557 )
NET ASSETS 142,500 122,652

CAPITAL AND RESERVES
Called up share capital 12 114,002 114,002
Retained earnings 28,498 8,650
SHAREHOLDERS' FUNDS 142,500 122,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Sunlover Ltd (Registered number: 03746452)

Balance Sheet - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





Mr T M Fay - Director


Sunlover Ltd (Registered number: 03746452)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Sunlover 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.

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.

The financial statements presentation currency is sterling £, and the financial statements are made up to 31st March each year.

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

Income is recognised on the dispatch of goods to the customer, irrespective of whether this has been paid or not.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

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 year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Sunlover Ltd (Registered number: 03746452)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at undiscounted cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at undiscounted cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 20,000
AMORTISATION
At 1 April 2023 16,000
Charge for year 2,000
At 31 March 2024 18,000
NET BOOK VALUE
At 31 March 2024 2,000
At 31 March 2023 4,000

Sunlover Ltd (Registered number: 03746452)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023 8,308 11,520 19,828
Additions 2,632 440 3,072
At 31 March 2024 10,940 11,960 22,900
DEPRECIATION
At 1 April 2023 3,649 5,952 9,601
Charge for year 1,204 1,194 2,398
At 31 March 2024 4,853 7,146 11,999
NET BOOK VALUE
At 31 March 2024 6,087 4,814 10,901
At 31 March 2023 4,659 5,568 10,227

6. STOCKS
2024 2023
£    £   
Finished goods 89,963 88,012

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 32,789 40,944
Other debtors 110,706 90,336
143,495 131,280

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,000 3,400
Trade creditors 33,927 18,114
Amounts owed to group undertakings 500 -
Taxation and social security 27,828 30,945
Other creditors 8,848 24,700
77,103 77,159

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 28,339 33,883

Sunlover Ltd (Registered number: 03746452)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 50,602 45,000
Between one and five years 105,934 150,000
156,536 195,000

11. FINANCIAL RISK MANAGEMENT

The company has some exposure to credit, liquidity and cash flow interest rate risks, These risks are limited by the company's financial management policies and practices described below.

Foreign currency risk
Some of the companies sales are denominated in other currencies, and so the company is exposed to foreign currency fluctuations. The company times the purchase of items to when the fluctuation are most favourable as a way of hedging risk.

Credit risk
The company's exposure and it's customers credit worthiness is continually monitored so that any potential problems are detected at an early stage, and mitigation strategies put in place.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities.

Market risk
There is a market risk associated with the fluctuation in demand for the products and services provided. Most of this is mitigated by monitoring the markets and tailoring the products offered to that market demand.

The company holds no derivative financial instruments at the year end.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
114,002 Ordinary £1 114,002 114,002

13. OTHER FINANCIAL COMMITMENTS

During the year end the company had a fixed and floating charge registered, in favour of NatWest Bank Plc, relating to the borrowing of a entity under common control.

14. RELATED PARTY DISCLOSURES

During the year the company paid rent to a company under common control for rent of the building from which it operates. The amount invoiced during the period was £40,750 (2023 - £11,333). There was no balance outstanding at either year end.

15. ULTIMATE CONTROLLING PARTY

Ultimate control rests with TIMLF Limited, whose business address is Unit 30b, Bidavon Industrial Estate, Waterloo Road, Bidford on Avon, Warwickshire, B50 4JN.