Registration number: 14167037

Karrev (Sunlight) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Karrev (Sunlight) Limited

Company Information

Directors

Julien Buronfosse Guillaume Xavier Marie De Kermabon

Registered office

21 Holborn Viaduct London EC1A 2DY

Accountants

SJ Accounts Solutions Limited Unit 11, Aylsham Business Park Richard Oakes Road Aylsham Norwich NR11 6FD

Karrev (Sunlight) Limited

(Registration number: 14167037)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	180,272	-
Investment property	5	47,000,000	29,850,000
		47,180,272	29,850,000
Current assets
Debtors	6	866,313	103,399
Cash at bank and in hand		11,124,244	2,079,104
		11,990,557	2,182,503
Creditors: Amounts falling due within one year	7	(3,936,955)	(1,140,924)
Net current assets		8,053,602	1,041,579
Total assets less current liabilities		55,233,874	30,891,579
Creditors: Amounts falling due after more than one year	7	(55,402,197)	(37,822,544)
Net liabilities		(168,323)	(6,930,965)
Capital and reserves
Called up share capital		3,010	2,000
Share premium reserve		17,099,810	11,362,000
Revaluation reserve		(11,302,453)	(16,631,427)
Retained earnings		(5,968,690)	(1,663,538)
Shareholders' deficit		(168,323)	(6,930,965)

For the financial year ending 31 December 2024 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Karrev (Sunlight) Limited

(Registration number: 14167037)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 13 June 2025 and signed on its behalf by:
 

......................................... Julien Buronfosse Director

......................................... Guillaume Xavier Marie De Kermabon Director

Karrev (Sunlight) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
21 Holborn Viaduct
London
EC1A 2DY

These financial statements were authorised for issue by the Board on 13 June 2025.

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.

Revenue recognition

Turnover comprises the fair value of the rental income received or receivable from tenants. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Karrev (Sunlight) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 debtors

Trade debtors are amounts due from tenants for rental income due.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Karrev (Sunlight) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
Additions	180,272	180,272
At 31 December 2024	180,272	180,272
Depreciation
Carrying amount
At 31 December 2024	180,272	180,272

Karrev (Sunlight) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Investment properties

	2024 £
Investment properties cost or fair value b/fwd	46,481,427
Additions	11,821,026
Fair value adjustments	(11,302,453)
At 31 December	47,000,000

Investment property is valued at fair value being the price for which the property could be exchanged between knowledgable and willing parties in an arm's length transaction. The last valuation was determined by CBRE Group on 31st December 2024.

6

Debtors

Current	2024 £	2023 £
Trade debtors	29,053	-
Prepayments	187,917	78,466
Other debtors	649,343	24,933
	866,313	103,399

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	3,631,260	124,804
Accruals and deferred income	32,001	73,804
Other creditors	273,694	942,316
	3,936,955	1,140,924

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	9	55,402,197	37,822,544

Karrev (Sunlight) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on property revaluation	5,328,974	5,328,974

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on property revaluation	(16,631,427)	(16,631,427)

9	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Other borrowings	55,402,197	37,822,544