Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08149771 Mrs Karina Nastenko iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08149771 2022-12-31 08149771 2023-12-31 08149771 2023-01-01 2023-12-31 08149771 frs-core:CurrentFinancialInstruments 2023-12-31 08149771 frs-core:ShareCapital 2023-12-31 08149771 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08149771 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08149771 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08149771 frs-bus:SmallEntities 2023-01-01 2023-12-31 08149771 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08149771 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08149771 frs-core:CostValuation 2022-12-31 08149771 frs-core:CostValuation 2023-12-31 08149771 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 08149771 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 08149771 frs-bus:Director1 2023-01-01 2023-12-31 08149771 frs-countries:EnglandWales 2023-01-01 2023-12-31 08149771 2021-12-31 08149771 2022-12-31 08149771 2022-01-01 2022-12-31 08149771 frs-core:CurrentFinancialInstruments 2022-12-31 08149771 frs-core:ShareCapital 2022-12-31 08149771 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 08149771
Sunolta Group Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Adbell Advisory Limited
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 08149771
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 3,918,395 3,918,395
3,918,395 3,918,395
CURRENT ASSETS
Debtors 5 13,596 13,596
13,596 13,596
Creditors: Amounts Falling Due Within One Year 6 (1,325,008 ) (1,312,417 )
NET CURRENT ASSETS (LIABILITIES) (1,311,412 ) (1,298,821 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,606,983 2,619,574
NET ASSETS 2,606,983 2,619,574
CAPITAL AND RESERVES
Called up share capital 7 2,752,857 2,752,857
Income Statement (145,874 ) (133,283 )
SHAREHOLDERS' FUNDS 2,606,983 2,619,574
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mrs Karina Nastenko
Director
31/12/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sunolta Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08149771 . The registered office is 1st Floor 14, Bowling Green Lane, London, EC1R 0BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 statement of financial position 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.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group
companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Cash and cash equivalents
Cash and cash equivalents 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.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to income 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 lease asset are consumed.
The financial statements have been prepared in accordance with Financial Reporting Standard 102 "The 
Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Companies Act 2006. 
The principal accounting policies adopted in the preparation of the financial statements are set out below. The accounting policies have been consistently applied within the financial statements. 
The company's functional currency is € Euro and the presentation currency is £ sterling. Sterling has been used as the presentation currency as the company is domiciled in England and Wales. 
Significant judgements and estimates 
...CONTINUED
Page 3
Page 4
2.2. Financial Instruments - continued
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include: 
Revaluing the investment property to fair value based on the valuation provided by Agence Immobilière Moderne. 
Not discounting the loan referred to in Note 7 on the basis that the loan is unsecured, interest free and repayable on demand. 
Preparation of consolidated financial statements
The financial statements contain information about Elverson Investment 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.
The company and its subsidiary undertakings comprise a small-sized group
2.3. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: )
1 -
4. Investments
Subsidiaries
£
Cost
As at 1 January 2023 3,918,395
As at 31 December 2023 3,918,395
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 3,918,395
As at 1 January 2023 3,918,395
No other information available.
5. Debtors
2023 2022
£ £
Due within one year
Amounts owed by group undertakings 12,596 12,596
Other debtors 1,000 1,000
13,596 13,596
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Amounts owed to group undertakings 35,978 35,978
Other creditors 1,289,030 1,276,439
1,325,008 1,312,417
Page 4
Page 5
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2,752,857 2,752,857
Page 5