SUNESTATE LIMITED 9891408 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is that of an investment holding company Digita Accounts Production Advanced 6.30.9574.0 true false true false true false 9891408 2022-12-01 2023-11-30 9891408 2023-11-30 9891408 bus:OrdinaryShareClass1 2023-11-30 9891408 core:RetainedEarningsAccumulatedLosses 2023-11-30 9891408 core:ShareCapital 2023-11-30 9891408 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 9891408 core:OtherRelatedParties 2023-11-30 9891408 bus:SmallEntities 2022-12-01 2023-11-30 9891408 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 9891408 bus:FullAccounts 2022-12-01 2023-11-30 9891408 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 9891408 bus:RegisteredOffice 2022-12-01 2023-11-30 9891408 bus:CompanySecretary1 2022-12-01 2023-11-30 9891408 bus:Director2 2022-12-01 2023-11-30 9891408 bus:Director3 2022-12-01 2023-11-30 9891408 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 9891408 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 9891408 core:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 9891408 core:ShareCapital 2022-12-01 2023-11-30 9891408 core:OtherRelatedParties 2022-12-01 2023-11-30 9891408 core:Subsidiary1 2022-12-01 2023-11-30 9891408 core:Subsidiary1 1 2022-12-01 2023-11-30 9891408 core:Subsidiary1 countries:Italy 2022-12-01 2023-11-30 9891408 core:Subsidiary2 2022-12-01 2023-11-30 9891408 core:Subsidiary2 1 2022-12-01 2023-11-30 9891408 core:Subsidiary2 countries:Italy 2022-12-01 2023-11-30 9891408 core:Subsidiary3 2022-12-01 2023-11-30 9891408 core:Subsidiary3 1 2022-12-01 2023-11-30 9891408 core:Subsidiary3 countries:Italy 2022-12-01 2023-11-30 9891408 countries:England 2022-12-01 2023-11-30 9891408 2022-11-30 9891408 core:RetainedEarningsAccumulatedLosses 2022-11-30 9891408 core:ShareCapital 2022-11-30 9891408 core:CostValuation 2022-11-30 9891408 core:OtherRelatedParties 2022-11-30 9891408 2021-12-01 2022-11-30 9891408 2022-11-30 9891408 bus:OrdinaryShareClass1 2022-11-30 9891408 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 9891408 core:OtherRelatedParties 2022-11-30 9891408 core:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 9891408 core:ShareCapital 2021-12-01 2022-11-30 9891408 core:Subsidiary1 1 2021-12-01 2022-11-30 9891408 core:Subsidiary2 1 2021-12-01 2022-11-30 9891408 core:Subsidiary3 1 2021-12-01 2022-11-30 9891408 2021-11-30 9891408 core:RetainedEarningsAccumulatedLosses 2021-11-30 9891408 core:ShareCapital 2021-11-30 9891408 core:OtherRelatedParties 2021-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 9891408

SUNESTATE LIMITED

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

SUNESTATE LIMITED

Contents

Company Information

1

Directors' Report

2

Profit and Loss Account

3

Statement of Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 10

 

SUNESTATE LIMITED

Company Information

Directors

Woodford Directors Limited

Ms Andreea Ecaterina Mocanu

Company secretary

Woodford Services Limited

Registered office

3 The Shrubberies
George Lane
London
E18 1BD

Accountants

ACCOUNTING 2 TREND LTD
3 The Shrubberies
George Lane
London
E18 1BD

 

SUNESTATE LIMITED

Directors' Report for the Year Ended 30 November 2023

The directors present their report and the financial statements for the year ended 30 November 2023.

Directors of the company

The directors who held office during the year were as follows:

Woodford Directors Limited

Ms Andreea Ecaterina Mocanu

Principal activity

The principal activity of the company is that of an investment holding company.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 12 November 2024 and signed on its behalf by:
 

.........................................
Ms Andreea Ecaterina Mocanu
Director

 

SUNESTATE LIMITED

Profit and Loss Account for the Year Ended 30 November 2023

Note

2023
£

2022
£

Turnover

 

-

-

Gross profit/(loss)

 

-

-

Administrative expenses

 

(2,752)

(6,872)

Operating loss

 

(2,752)

(6,872)

Loss before tax

(2,752)

(6,872)

Loss for the financial year

 

(2,752)

(6,872)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

SUNESTATE LIMITED

Statement of Comprehensive Income for the Year Ended 30 November 2023

2023
£

2022
£

Loss for the year

(2,752)

(6,872)

Total comprehensive income for the year

(2,752)

(6,872)

 

SUNESTATE LIMITED

(Registration number: 9891408)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

2,013,691

2,013,691

Current assets

 

Cash at bank and in hand

 

417

380

Creditors: Amounts falling due within one year

5

(15,340)

(12,551)

Net current liabilities

 

(14,923)

(12,171)

Net assets

 

1,998,768

2,001,520

Capital and reserves

 

Called up share capital

6

2,014,082

2,014,082

Retained earnings

(15,314)

(12,562)

Shareholders' funds

 

1,998,768

2,001,520

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 12 November 2024 and signed on its behalf by:
 

.........................................
Ms Andreea Ecaterina Mocanu
Director

 

SUNESTATE LIMITED

Statement of Changes in Equity for the Year Ended 30 November 2023

Share capital
£

Profit and loss account
£

Total
£

At 1 December 2022

2,014,082

(12,562)

2,001,520

Loss for the year

-

(2,752)

(2,752)

Total comprehensive income

-

(2,752)

(2,752)

At 30 November 2023

2,014,082

(15,314)

1,998,768

Share capital
£

Retained earnings
£

Total
£

At 1 December 2021

2,014,082

(5,690)

2,008,392

Loss for the year

-

(6,872)

(6,872)

At 30 November 2022

2,014,082

(12,562)

2,001,520

 

SUNESTATE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3 The Shrubberies
George Lane
London
E18 1BD
United Kingdom

These financial statements were authorised for issue by the Board on 12 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The financial statements contain information about Sunestate Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399 (2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

SUNESTATE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

4

Investments

2023
£

2022
£

Investments in subsidiaries

2,013,691

2,013,691

 

SUNESTATE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Subsidiaries

£

Cost or valuation

At 1 December 2022

2,013,691

Provision

Carrying amount

At 30 November 2023

2,013,691

At 30 November 2022

2,013,691

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Orora Lab S.r.l.

Via Savona 110
36040 Torri Di Quartesolo

Italy

Ordinary shares

100%

100%

Parimosa S.r.l.

Via Savona n.110
36040 Torri Di Quartesolo (VI)

Italy

Ordinary shares

100%

100%

Orora Srl

Via Savona 110
36040 Torri Di Quartesolo

Italy

Ordinary shares

100%

100%

 

SUNESTATE LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,000

1,000

Other creditors

14,340

11,551

15,340

12,551

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

2,014,082

2,014,082

2,014,082

2,014,082

       

7

Related party transactions

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

(390)

(390)

Advanced

3,350

3,350

At end of period

2,960

2,960

2022

Other related parties
£

Total
£

At start of period

(390)

(390)

At end of period

(390)

(390)

Terms of loans from related parties

Shareholder's loan, interest free, no specified repayment date