Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-312022-09-01falseNo description of principal activity00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09716641 2022-09-01 2023-08-31 09716641 2021-09-01 2022-08-31 09716641 2023-08-31 09716641 2022-08-31 09716641 2021-09-01 09716641 c:Director1 2022-09-01 2023-08-31 09716641 d:PlantMachinery 2022-09-01 2023-08-31 09716641 d:PlantMachinery 2023-08-31 09716641 d:PlantMachinery 2022-08-31 09716641 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09716641 d:MotorVehicles 2022-09-01 2023-08-31 09716641 d:FurnitureFittings 2022-09-01 2023-08-31 09716641 d:FurnitureFittings 2023-08-31 09716641 d:FurnitureFittings 2022-08-31 09716641 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09716641 d:OfficeEquipment 2022-09-01 2023-08-31 09716641 d:OfficeEquipment 2023-08-31 09716641 d:OfficeEquipment 2022-08-31 09716641 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09716641 d:ComputerEquipment 2022-09-01 2023-08-31 09716641 d:ComputerEquipment 2023-08-31 09716641 d:ComputerEquipment 2022-08-31 09716641 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09716641 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09716641 d:CurrentFinancialInstruments 2023-08-31 09716641 d:CurrentFinancialInstruments 2022-08-31 09716641 d:Non-currentFinancialInstruments 2023-08-31 09716641 d:Non-currentFinancialInstruments 2022-08-31 09716641 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 09716641 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 09716641 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 09716641 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 09716641 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 09716641 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-08-31 09716641 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 09716641 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-08-31 09716641 d:ShareCapital 2022-09-01 2023-08-31 09716641 d:ShareCapital 2023-08-31 09716641 d:ShareCapital 2021-09-01 2022-08-31 09716641 d:ShareCapital 2022-08-31 09716641 d:ShareCapital 2021-09-01 09716641 d:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 09716641 d:RetainedEarningsAccumulatedLosses 2023-08-31 09716641 d:RetainedEarningsAccumulatedLosses 2021-09-01 2022-08-31 09716641 d:RetainedEarningsAccumulatedLosses 2022-08-31 09716641 d:RetainedEarningsAccumulatedLosses 2021-09-01 09716641 c:FRS102 2022-09-01 2023-08-31 09716641 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 09716641 c:FullAccounts 2022-09-01 2023-08-31 09716641 c:CompanyLimitedByGuarantee 2022-09-01 2023-08-31 09716641 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure
Registered number: 09716641





SUNRISE EVENT MANAGEMENT LIMITED
(A company limited by guarantee)
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




















img1aa6.png

 
SUNRISE EVENT MANAGEMENT LIMITED
  
(A company limited by guarantee)
REGISTERED NUMBER:09716641

BALANCE SHEET
AS AT 31 AUGUST 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
259,996
141,010

  
259,996
141,010

Current assets
  

Debtors: amounts falling due within one year
 5 
118,017
115,622

Cash at bank and in hand
  
1,838
6,395

  
119,855
122,017

Creditors: amounts falling due within one year
 6 
(1,162,328)
(695,189)

Net current liabilities
  
 
 
(1,042,473)
 
 
(573,172)

Total assets less current liabilities
  
(782,477)
(432,162)

Creditors: amounts falling due after more than one year
 7 
(5,821)
(9,422)

  

Net liabilities
  
(788,298)
(441,584)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(788,398)
(441,684)

  
(788,298)
(441,584)

Page 1

 
SUNRISE EVENT MANAGEMENT LIMITED
  
(A company limited by guarantee)
REGISTERED NUMBER:09716641
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 profit and loss account 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 on 31 October 2024.




T Kneen
Director

The notes on pages 5 to 11 form part of these financial statements.
Page 2

 
SUNRISE EVENT MANAGEMENT LIMITED
 
(A company limited by guarantee)
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 September 2022
100
(441,684)
(441,584)


Comprehensive income for the year

Loss for the year

-
(346,714)
(346,714)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(346,714)
(346,714)


Total transactions with owners
-
-
-


At 31 August 2023
100
(788,398)
(788,298)


The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
SUNRISE EVENT MANAGEMENT LIMITED
 
(A company limited by guarantee)
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 September 2021
100
(278,137)
(278,037)


Comprehensive income for the year

Loss for the year

-
(163,547)
(163,547)


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
(163,547)
(163,547)


Total transactions with owners
-
-
-


At 31 August 2022
100
(441,684)
(441,584)


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
SUNRISE EVENT MANAGEMENT LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Sunrise Event Management Limited is a private company limited by shares, domiciled in England and Wales. The registered office address is Unit 9, Dunchideock Barton, Dunchideock, Exeter, Devon, England, EX2 9UA.

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 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

The accounts have been prepared on the going concern basis, despite the company being in a net
liability position of £788,298. The director continues to support the company and has considered
the current financial position of the company, as well as the availability of working capital and has
concluded that it is a going concern.

 
2.3

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 resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

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

Page 5

 
SUNRISE EVENT MANAGEMENT LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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.

Page 6

 
SUNRISE EVENT MANAGEMENT LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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:

Boat fixtures and fittings
-
50% straight line for Sails, 10% straight line for other fittings
Boats
-
5% straight line
Computer equipment
-
33% straight line

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.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

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.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
 

Page 7

 
SUNRISE EVENT MANAGEMENT LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

Page 8

 
SUNRISE EVENT MANAGEMENT LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Boats
Boat fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 September 2022
176,605
127,102
-
4,919
308,626


Additions
-
186,874
-
514
187,388


Disposals
-
(81,280)
-
(3,474)
(84,754)



At 31 August 2023

176,605
232,696
-
1,959
411,260



Depreciation


At 1 September 2022
76,702
89,735
-
1,179
167,616


Charge for the year on owned assets
11,774
34,731
-
653
47,158


Disposals
-
(62,629)
(881)
-
(63,510)



At 31 August 2023

88,476
61,837
(881)
1,832
151,264



Net book value



At 31 August 2023
88,129
170,859
881
127
259,996



At 31 August 2022
99,903
37,367
-
3,740
141,010


5.


Debtors

As restated
2023
2022
£
£


Trade debtors
-
6,433

Other debtors
24,327
20,568

Prepayments and accrued income
93,690
88,621

118,017
115,622


Page 9

 
SUNRISE EVENT MANAGEMENT LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Bank loans
3,175
3,175

Trade creditors
24,881
6,807

Other creditors
1,132,872
685,207

Accruals and deferred income
1,400
-

1,162,328
695,189



7.


Creditors: Amounts falling due after more than one year

As restated
2023
2022
£
£

Bank loans
5,821
9,422

5,821
9,422


Page 10

 
SUNRISE EVENT MANAGEMENT LIMITED
 
(A company limited by guarantee)
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Loans


Analysis of the maturity of loans is given below:


As restated
2023
2022
£
£

Amounts falling due within one year

Bank loans
3,175
3,175


3,175
3,175

Amounts falling due 1-2 years

Bank loans
3,173
3,175


3,173
3,175

Amounts falling due 2-5 years

Bank loans
2,648
6,247


2,648
6,247


8,996
12,597



9.


Prior year adjustment

A number of reclassifications have been made to the prior year balance sheet, to correctly recognise balances within debtors and creditors. There is no overall impact on the profit and loss for the year.
 
Page 11