SUNSAVE GROUP LTD

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

SUNSAVE GROUP LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13741813 . The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.

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.

Transition to FRS 102 Section 1A

Prior to this year, the company prepared its financial statements under FRS 105. These are the first financial statements prepared under FRS 102 1A and comparatives for the prior year have been restated accordingly.

Impact of Transition

The adoption of FRS 102 1A has not resulted in any material adjustments to the measurement of assets, liabilities, or equity from those reported under the previous financial reporting framework. Any differences arising on transition have been adjusted in the opening balances of retained earnings at the date of transition 01 January 2024.

Date of transition

The date of transition to FRS 102 Section 1A was 01 January 2024.

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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. For contracts involving both the supply of goods and the provision of installation services, these are treated as a single transaction. Revenue is recognised in full upon completion of the installation, which is the point at which the company has fulfilled its performance obligations under the contract and the system is operational.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of

a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only

recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to the Profit and Loss account on a straight line basis over their expected useful economic lives of 3 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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	20% Straight Line
Fixtures & Fittings	33.33% Straight Line

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SUNSAVE GROUP LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.8. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

On 31 March 2024, the company transferred its payroll function to Sunsave UK Limited under the Transfer of Undertakings (Protection of Employment) Regulations (TUPE). No provisions for employment-related liabilities were required as at the reporting date. There are no contingent liabilities or uncertainties relating to the transfer of employment obligations. Average number of employees, including directors, during the year was:

7 (2023: 28)

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 January 2024	663	53,384	54,047
Disposals	(564 )	(32,265 )	(32,829 )

As at 31 December 2024	99	21,119	21,218

Depreciation
As at 1 January 2024	66	16,613	16,679
Provided during the period	33	4,506	4,539

As at 31 December 2024	99	21,119	21,218

...CONTINUED

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SUNSAVE GROUP LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024	-	-	-

As at 1 January 2024	597	36,771	37,368

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	-	100,141
Amounts owed by group undertakings	1,797,871	21,800
Other debtors	454,225	328,868

	2,252,096	450,809

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	2,519	48,518
Other loans	-	20,508
Other creditors	109,152	325,965
Taxation and social security	-	55,226

	111,671	450,217

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Amounts owed to group undertakings	-	707,915

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2	2

9. Post Balance Sheet Events

On 1st January 2025, which was after the financial year end, O. Boom resigned as a director of the company. On the same date, N. Nagda was appointed as a director.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		-		37,368

			-		37,368
CURRENT ASSETS
Debtors	5	2,252,096		450,809
Cash at bank and in hand		3,155,164		4,979,932

		5,407,260		5,430,741
Creditors: Amounts Falling Due Within One Year	6	(111,671 )		(450,217 )

NET CURRENT ASSETS (LIABILITIES)			5,295,589		4,980,524

TOTAL ASSETS LESS CURRENT LIABILITIES			5,295,589		5,017,892

Creditors: Amounts Falling Due After More Than One Year	7		-		(707,915 )

NET ASSETS			5,295,589		4,309,977

CAPITAL AND RESERVES
Called up share capital	8		2		2
Share premium account			9,096,273		9,094,817
Other reserves			31,871		-
Profit and Loss Account			(3,832,557 )		(4,784,842 )

SHAREHOLDERS' FUNDS			5,295,589		4,309,977