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REGISTERED NUMBER: 07004685 (England and Wales)


Sunshine Kebabs UK Ltd

Abridged Audited Financial Statements

for the Year Ended 31 March 2024






Sunshine Kebabs UK Ltd (Registered number: 07004685)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Sunshine Kebabs UK Ltd

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr E Aksu
Mr O Aksu





REGISTERED OFFICE: 239-241 Kennington Lane
London
SE11 5QU





REGISTERED NUMBER: 07004685 (England and Wales)





AUDITORS: Alton & Co
Chartered Accountants
& Statutory Auditors
239-241 Kennington Lane
London
SE11 5QU

Sunshine Kebabs UK Ltd (Registered number: 07004685)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 10,000
Property, plant and equipment 5 763,893 668,697
Investment property 6 50,000 -
813,893 678,697

CURRENT ASSETS
Inventories 78,856 94,383
Debtors 7 1,532,994 1,527,206
Cash at bank and in hand 1,036,656 586,402
2,648,506 2,207,991
CREDITORS
Amounts falling due within one year 8 367,255 383,235
NET CURRENT ASSETS 2,281,251 1,824,756
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,095,144

2,503,453

CREDITORS
Amounts falling due after more than one
year

9

-

(3,290

)

PROVISIONS FOR LIABILITIES 12 (100,305 ) (103,552 )
NET ASSETS 2,994,839 2,396,611

CAPITAL AND RESERVES
Called up share capital 13 180,000 180,000
Retained earnings 14 2,814,839 2,216,611
SHAREHOLDERS' FUNDS 2,994,839 2,396,611

Sunshine Kebabs UK Ltd (Registered number: 07004685)

Statement of Financial Position - 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.

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 17 October 2024 and were signed on its behalf by:




Mr E Aksu - Director



Mr O Aksu - Director


Sunshine Kebabs UK Ltd (Registered number: 07004685)

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

1. STATUTORY INFORMATION

Sunshine Kebabs UK 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Turnover is derived from the ordinary activities of the business and is recognised when the customer takes delivery of the order.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - straight line over the life of the lease
Improvements to property - 10% on reducing balance
Plant and machinery - 25% on reducing balance
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.

Sunshine Kebabs UK Ltd (Registered number: 07004685)

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

2. ACCOUNTING POLICIES - continued

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

Cost is based on first in first out method of stock valuation. Net realisable value is the sales value of the stock less any additional cost to sell.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 58 (2023 - 58 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 50,000
AMORTISATION
At 1 April 2023 40,000
Charge for year 10,000
At 31 March 2024 50,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 10,000

Sunshine Kebabs UK Ltd (Registered number: 07004685)

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

5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
Short to Plant and and
leasehold property machinery fittings Totals
£    £    £    £    £   
COST
At 1 April 2023 27,668 452,661 252,574 1,104,342 1,837,245
Additions - - 25,205 246,532 271,737
At 31 March 2024 27,668 452,661 277,779 1,350,874 2,108,982
DEPRECIATION
At 1 April 2023 8,720 221,266 209,568 728,994 1,168,548
Charge for year 1,700 2,319 17,052 155,470 176,541
At 31 March 2024 10,420 223,585 226,620 884,464 1,345,089
NET BOOK VALUE
At 31 March 2024 17,248 229,076 51,159 466,410 763,893
At 31 March 2023 18,948 231,395 43,006 375,348 668,697

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 127,864
DEPRECIATION
At 1 April 2023 55,941
Charge for year 41,580
At 31 March 2024 97,521
NET BOOK VALUE
At 31 March 2024 30,343
At 31 March 2023 71,923

Sunshine Kebabs UK Ltd (Registered number: 07004685)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 50,000
At 31 March 2024 50,000
NET BOOK VALUE
At 31 March 2024 50,000

The directors have assessed the value of the property at 31 March 2024 and considers this to be the appropriate value of the investment property.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,129 35,681
Rent deposit 14,688 14,688
Island Fitness Ltd 1,055,021 1,055,021
Amounts owed by group undertakings 378,535 378,535
Ezra's Kitchen Ltd 17,593 -
Prepayments 48,028 43,281
1,532,994 1,527,206

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 63,275
Trade creditors 138,610 71,347
Ezra's Kitchen Ltd - 9,179
Tax 87,487 44,031
Social security and other taxes 6,631 6,849
Pension control account 1,230 840
VAT 103,048 156,611
Directors' current accounts 790 1,086
Accrued expenses 29,459 30,017
367,255 383,235

Sunshine Kebabs UK Ltd (Registered number: 07004685)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 3,290

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 160,000 160,000
Between one and five years 640,000 640,000
In more than five years 520,000 680,000
1,320,000 1,480,000

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 66,565

Kervan Sofrasi Limited, the parent company has provided NatWest bank the following guarantees in relation to the loans.
A fixed first legal charge on the following freehold properties belonging to the parent company.
171 Hertford Road, London and its associated assets.
107 Chase Side, London and its associated assets.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 100,305 103,552

Deferred
tax
£   
Balance at 1 April 2023 103,552
Credit to Income Statement during year (3,247 )
Balance at 31 March 2024 100,305

Sunshine Kebabs UK Ltd (Registered number: 07004685)

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

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
180,000 Ordinary £1 180,000 180,000

14. RESERVES
Retained
earnings
£   

At 1 April 2023 2,216,611
Profit for the year 598,228
At 31 March 2024 2,814,839

15. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Altan Kemal FCA FCCA (Senior Statutory Auditor)
for and on behalf of Alton & Co

16. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

2024 2023
£    £   
Transfers to related parties 26,772 1,128,092
Transfers from related parties - 9,179
Amount due from related parties 1,451,149 1,433,556
Amount due to related parties - 9,179

Ezra's Kitchen Ltd
Companies under common control

The premises used by Ezra's Kitchen Ltd is leased by Sunshine Kebabs UK Ltd.