Company registration number 10216238 (England and Wales)
SUNNY MOLEHILLS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
SUNNY MOLEHILLS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SUNNY MOLEHILLS LIMITED
BALANCE SHEET
AS AT
28 JUNE 2024
28 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
272,613
278,702
Current assets
Debtors
4
-
0
5,131
Cash at bank and in hand
3,166
6,818
3,166
11,949
Creditors: amounts falling due within one year
5
(132,595)
(166,305)
Net current liabilities
(129,429)
(154,356)
Total assets less current liabilities
143,184
124,346
Creditors: amounts falling due after more than one year
6
(211,000)
(211,000)
Net liabilities
(67,816)
(86,654)
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
(67,818)
(86,656)
Total equity
(67,816)
(86,654)

For the financial year ended 28 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 January 2025 and are signed on its behalf by:
Mrs A J Staniforth
Director
Company registration number 10216238 (England and Wales)
SUNNY MOLEHILLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JUNE 2024
- 2 -
1
Accounting policies
Company information

Sunny Molehills Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Goodwood Mansions, Stockwell Park Walk, London, SW9 0XY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has purchased investment properties for the purpose of receiving rental income. This was made possible by a cash investment into the business by the directors. There is no expectation for this cash to be repaid to the directors any time in the near future.

 

Therefore, at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents rental income. Rental property income is accounted for as it falls due in accordance with the lease.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Leasehold land and buildings
2% straight line
Fixtures and fittings
33% straight line
Computers
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

SUNNY MOLEHILLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 JUNE 2024
1
Accounting policies
(Continued)
- 3 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SUNNY MOLEHILLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 29 June 2023
310,535
25,945
1,249
337,729
Additions
-
0
1,699
-
0
1,699
At 28 June 2024
310,535
27,644
1,249
339,428
Depreciation
At 29 June 2023
33,984
24,627
416
59,027
Depreciation charged in the year
6,211
1,161
416
7,788
At 28 June 2024
40,195
25,788
832
66,815
Carrying amount
At 28 June 2024
270,340
1,856
417
272,613
At 28 June 2023
276,551
1,318
833
278,702
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
-
0
5,131
SUNNY MOLEHILLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 JUNE 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
7,120
875
Other creditors
125,475
165,430
132,595
166,305

Included in other creditors is an unsecured, interest free loan of £123,075 (2023: £160,659) from the director which is repayable on demand.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
211,000
211,000

The loans are secured against fixed and floating charges over the company's assets

 

7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
2
2
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