Acorah Software Products - Accounts Production 16.7.461 false true true 31 December 2023 1 January 2023 false 23 December 2025 1 January 2024 31 December 2024 31 December 2024 10449216 Mr Han Bao Mr Po Meng Ms Nianci Su Mr Runsen Liu Singapore true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10449216 2023-12-31 10449216 2024-12-31 10449216 2024-01-01 2024-12-31 10449216 frs-core:CurrentFinancialInstruments 2024-12-31 10449216 frs-core:Non-currentFinancialInstruments 2024-12-31 10449216 frs-core:ShareCapital 2024-12-31 10449216 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 10449216 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10449216 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 10449216 frs-bus:SmallEntities 2024-01-01 2024-12-31 10449216 frs-bus:Audited 2024-01-01 2024-12-31 10449216 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10449216 1 2024-01-01 2024-12-31 10449216 frs-bus:Director1 2024-01-01 2024-12-31 10449216 frs-bus:Director2 2024-01-01 2024-12-31 10449216 frs-bus:Director3 2024-01-01 2024-12-31 10449216 frs-bus:Director4 2024-01-01 2024-12-31 10449216 frs-core:CurrentFinancialInstruments 1 2024-12-31 10449216 frs-countries:EnglandWales 2024-01-01 2024-12-31 10449216 2022-12-31 10449216 2023-12-31 10449216 2023-01-01 2023-12-31 10449216 frs-core:CurrentFinancialInstruments 2023-12-31 10449216 frs-core:Non-currentFinancialInstruments 2023-12-31 10449216 frs-core:ShareCapital 2023-12-31 10449216 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 10449216 frs-core:CurrentFinancialInstruments 1 2023-12-31
Registered number: 10449216
Sunrate Partners UK Limited
Financial Statements
For The Year Ended 31 December 2024
Sloane & Co. LLP
Chartered Certified Accountants & Business Advisors
Office 015
30 Great Guildford Street
Borough, London
SE1 0HS
Sunrate Partners UK Limited
Contents
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Sunrate Partners UK Limited
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 10449216
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 4,197 2,999
Cash at bank and in hand 12,503,693 17,242,346
12,507,890 17,245,345
Creditors: Amounts Falling Due Within One Year 5 (15,822 ) (10,091 )
NET CURRENT ASSETS (LIABILITIES) 12,492,068 17,235,254
TOTAL ASSETS LESS CURRENT LIABILITIES 12,492,068 17,235,254
Creditors: Amounts Falling Due After More Than One Year 6 (11,869,780 ) (16,628,889 )
NET ASSETS 622,288 606,365
CAPITAL AND RESERVES
Called up share capital 7 600,000 600,000
Profit and Loss Account 22,288 6,365
SHAREHOLDERS' FUNDS 622,288 606,365
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 Po Meng
Director
23 December 2025
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Sunrate Partners UK Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Sunrate Partners UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10449216 . The registered office is 25 Wilton Road Victoria, London, SW1W 1LW.
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.
These financial statements are presented in pounds Sterling. which is the Company's functional currency. All information is given to the nearest thousand pounds.
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.  The Directors have prepared forecasts for the Company, covering a period of more than 12 months from the date of signing of these financial statements. On the basis of their assessment, the Directors have a reasonable expectation that the Company will be able to continue in operational existence for a minimum period of 12 months from the date of signing and therefore the financial statements have been prepared on the going concern basis.
2.3. Significant judgements and estimations
Critical accounting estimates and judgements 
 The reported results of the Company for the financial period ended 31 December 2024 are sensitive to the accounting policies, assumptions and estimates that underlie the preparation of its financial statements. The judgements and assumptions involved in the Company's accounting policies that are considered by the Directors to be the most important to the portrayal of its financial condition are discussed below. The use of estimates, assumptions or models that differ from those adopted by the Company would affect its reported results. 
Impairment of intra Group debt 
Given the nature of the Company, it relies heavily on the satisfactory performance of other companies within the Group such that sufficient cash flows are returned both from its investments and from the settlement of amounts loaned. Accordingly, the Company assesses its investments in subsidiary undertakings and balances due from other Group companies for indicators of impairment at least annually.
If such indicators exist, the recoverable amount of the investment is estimated and the carrying value of the asset reduced to that level. Any impairment loss resulting from these reviews is recognised in separately disclosed items in the profit and loss account. The Company does not consider there to be any other critical estimates.
Accounting developments
New accounting standards and interpretations not yet adopted There are no standards that are not yet effective and that would be expected to have a material impact on the Company in the current or future reporting periods and on foreseeable future transactions.
Page 2
Page 3
Sunrate Partners UK Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.4. 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. This is usually at the point that the customer has signed for the delivery of the goods.
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.
2.5. 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.
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 debtors 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. Financial assets classified as receivable within one year are not amortised.
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
Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Page 3
Page 4
Sunrate Partners UK Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.6. 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 taken into account in arriving at the operating profit.
2.7. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2.8. Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include deposits held at call with banks. Client funds are held in segregated accounts with authorised credit institutions as part of the Company's safeguarding policy.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 2,158 1,034
Other debtors 241 241
Other debtors - Rent deposit 1,798 1,724
4,197 2,999
Page 4
Page 5
Sunrate Partners UK Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,078 68
Corporation tax 6,344 1,623
Accruals and deferred income 8,400 8,400
15,822 10,091
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 11,869,780 16,628,889
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 600,000 600,000
The issued share capital of the company is 600,000 ordinary shares of £1 each. 
8. Related Party Transactions
During the year, the company had a number of transactions with a company in the same group, Sunrate Solutions Limited, a company incorporated in Hong Kong. No interest has been charged on these amounts.
At 31st December 2024, included in 'Amounts owed to group undertakings' in note 6  was an amount owed to Sunrate Solutions Limited of £11,869,780.30 (2023: £16,628,889.43).
Sunrate Partners UK Limited has a service agreement with Sunrate Solutions Limited.
9. Ultimate Parent Undertaking and Controlling Party
The company's immediate parent undertaking is Sunrate Global Pte. Ltd , and it was incorporated in Singapore.
The ultimate parent undertaking is Sunrate Holdings Limited, a company incorporated in Cayman Islands.
10. Audit Information
The auditor's report on the accounts of Sunrate Partners UK Limited for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by William Tang (Senior Statutory Auditor) for and on behalf of Accounting Tang Limited , Statutory Auditor.
Accounting Tang Limited
8 Farm Avenue
London
SW16 2UT
Page 5