Sunrise Millers Limited (Previously Superbazaar Limited)

Sunrise Millers Limited (Previously Superbazaar Limited)
Registered number:		05139505
Balance Sheet
as at 31 May 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		2,471			3,295
			2,471			3,295

Current assets
Stocks		3,500			2,500
Debtors	3	37,635			16,241
Cash at bank and in hand		187			-
		41,322			18,741

Creditors: amounts falling due within one year	4	(36,867)			(19,228)

Net current assets/(liabilities)			4,455			(487)

Total assets less current liabilities			6,926			2,808

Creditors: amounts falling due after more than one year	5		-			(1,644)

Provisions for liabilities			-			-

Net assets			6,926			1,164

Capital and reserves
Called up share capital			100			100
Profit and loss account			6,826			1,064

Shareholders' funds			6,926			1,164

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.

Mr Vikkas Puri
Director
Approved by the board on 20.02.2017

Sunrise Millers Limited (Previously Superbazaar Limited)
Notes to the Accounts
for the year ended 31 May 2016


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings, tools and equipment			over 5 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.




	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

2	Tangible fixed assets
		Fixtures, Fittings & Equipment		Total
£			£
	Cost
	At 1 June 2015	22,865		22,865
	Additions	-		-
	Surplus on revaluation	-		-
	Disposals	-		-
	At 31 May 2016	22,865		22,865

	Depreciation
	At 1 June 2015	19,570		19,570
	Charge for the year	824		824
	Surplus on revaluation	-		-
	On disposals	-		-
	At 31 May 2016	20,394		20,394

	Net book value
	At 31 May 2016	2,471		2,471
	At 31 May 2015	3,295		3,295


3	Debtors				2016		2015
£						£

	Trade debtors				1,033		11,386
	Directors Loan Account				2,852		4,855
	Razoredge Limited				30,350		-
	Sunrise Impex				1,500		-
	Africa International				1,900		-
	Deferred tax asset				-		-
	Other debtors				-		-
					37,635		16,241

	Amounts due after more than one year included above				-		-

4	Creditors: amounts falling due within one year				2016		2015
£						£

	Non-equity preference shares				-		-
	Bank loans and overdrafts				1,644		8,724
	Sundry Creditors and Accruals				3,300		2,300
	Loans				-		4,412
	ACL Education Ltd				760		-
	Sarobjit Singh				2,752		-
	Sunrise Developers				22,230		-
	Corporation tax				2,389		-
	Other taxes and social security costs				3,792		3,792
	Other creditors				-		-
					36,867		19,228

5	Creditors: amounts falling due after one year				2016		2015
£						£

	Bank loans				-		1,644
	Other creditors				-		-
					-		1,644

6	Related party transactions
	At balance sheet date the company was owed £30,350.00 by Razoredge Limited and £1,500.00 by Sunrise Impex Ltd. Both companies are controlled by the directors. At balance sheet date the company owed ACL Education Limited £760.00 and Sunrise Developers Limited £22,230.00. Both companied are controlled by the directors.

7	Other information

	Sunrise Millers Limited (Previously Superbazaar Limited) is a private company limited by shares and incorporated in England. Its registered office is:
	5 Sarum Complex
	Salisbury Road
	Uxbridge
	Middlesex
	UB8 2RZ