Sunset IT Distribution Ltd

	Page
Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3—7

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Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 10897812

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		133,988		21,844

			133,988		21,844
CURRENT ASSETS
Stocks	6	65,248		268,898
Debtors	7	652,930		790,587
Cash at bank and in hand		236,577		402,590

		954,755		1,462,075
Creditors: Amounts Falling Due Within One Year	8	(1,073,437 )		(1,373,631 )

NET CURRENT ASSETS (LIABILITIES)			(118,682 )		88,444

TOTAL ASSETS LESS CURRENT LIABILITIES			15,306		110,288

NET ASSETS			15,306		110,288

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			15,206		110,188

SHAREHOLDERS' FUNDS			15,306		110,288

For the 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.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account.

On behalf of the board

Mr Nicolas Gross

Director

22/09/2025

The notes on pages 3 to 7 form part of these financial statements.

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Sunset IT Distribution Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Sunset IT Distribution Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10897812 . The registered office is Suite 3, 62 High Street, Stony Stratford, Milton Keynes, MK11 1AQ.

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. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

Turnover represents the fair value received and receivable in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account within administrative expenses over its estimated economic life of 3 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Assets are depreciated from the date at whish they are brought into use. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	3 years straight line
Motor Vehicles	3 years straight line
Fixtures & Fittings	3 to 10 years straight line
Computer Equipment	2 to 3 years straight line

2.6. Stocks and Work in Progress

Stocks are valued at the lower of cost or net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs.

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Sunset IT Distribution Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Financial Instruments

Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds basic financial instruments, which comprise cash at bank and in hand, trade and other debtors, borrowings and trade and other creditors. The company has chosen to apply the measurement and recognition provisions of Section 11 Basic Financial Instruments.

Financial assets – classified as basic financial instruments

Cash and Cash equivalents

Cash and cash equivalents include cash at bank and in hand and other short-term highly liquid investments with original maturities of three months or less which are classified as current asset investments.

Trade and other debtors

Trade and other debtors are initially recognised at the transaction price, including any transaction costs, and are subsequently measured at amortised cost using the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the amount expected to be receivable, net of any impairment.

Financial liabilities – classified as basic financial instruments

Trade and other creditors and borrowings

Short term trade and other creditors and borrowings are measured at the transaction price. Other financial liabilities which constitute financing transactions are initially and subsequently measured at the present value of the future payments, discounted at a market rate of interest.

2.8. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are recognised in the Income Statement.

2.9. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2024	2023
Office and administration	2	1
Sales, marketing and distribution	2	3
Management	3	3

	7	7

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Sunset IT Distribution Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	15,000

As at 31 December 2024	15,000

Amortisation
As at 1 January 2024	15,000

As at 31 December 2024	15,000

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

The goodwill relates to the purchase of the business and certain assets of Sunset (UK) Limited on 1st January 2018.

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2024	4,972	-	26,116	44,395	75,483
Additions	-	138,500	5,219	-	143,719

As at 31 December 2024	4,972	138,500	31,335	44,395	219,202

Depreciation
As at 1 January 2024	4,394	-	11,205	38,040	53,639
Provided during the period	517	19,920	6,459	4,679	31,575

As at 31 December 2024	4,911	19,920	17,664	42,719	85,214

Net Book Value
As at 31 December 2024	61	118,580	13,671	1,676	133,988

As at 1 January 2024	578	-	14,911	6,355	21,844

6. Stocks

	2024	2023
	£	£
Finished goods	65,248	268,898

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Sunset IT Distribution Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	95,684	218,313
Prepayments and accrued income	247,175	208,883
Other debtors	170,631	165,455
Corporation tax recoverable assets	-	21,604
VAT	19,701	64,717
Amounts owed by group undertakings	115,511	3,700
Amounts owed by subsidiaries	4,228	3,805
Amounts owed by associates	-	104,110

	652,930	790,587

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	26,955	79,462
Other taxes and social security	8,345	7,861
Net wages	-	299
Other creditors	1,021,205	1,273,026
Accruals and deferred income	16,932	12,983

	1,073,437	1,373,631

Other creditors include a loan of £nil (2023 - £8,957) from the director.

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

Issued share capital comprises 100 ordinary shares with a nominal value of £1 each.

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	36,241	52,917
Later than one year and not later than five years	-	34,590

	36,241	87,507

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Sunset IT Distribution Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

11. Related Party Transactions

Margaret Holding Ltd

The Company has entered into the following loan agreement with Margaret Holding Ltd, a company which has a controlling interest in the Company.

Loan to Margaret Holding - £3,700 (20223- £3,700).

Searchlab Limited

The Company has entered into the following loan agreement with Searchlab Limited, a related party which is an subsidiary of Margaret Holdings Ltd, the controlling shareholder of the Company:

Loan to Searchlab Limited £111,811 (2023 - £104,110)

The loan is non-interest bearing and is repayable on demand.

Sunset IT Distribution BV

The Company has entered into the following loan agreement with Sunset IT Distribution BV, a wholly owned subsidiary company based in the Netherlands:

Loan to Sunset IT Distribution BV £4,228 (2023 - £3,805).

The loan is non-interest bearing and is repayable on demand.

12. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Margaret Holding Ltd . Margaret Holding Ltd was incorporated in England and Wales. The ultimate controlling party is Nicolas Gross who controlled 85% of the shares of Sunset IT Distribution Ltd .

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Director	Mr Nicolas Gross

Company Number	10897812

Registered Office	Suite 3
	62 High Street, Stony Stratford
	Milton Keynes
	MK11 1AQ