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Registration number: 10237846

Sterling International Real Estate Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2022

 

Sterling International Real Estate Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 3

 

Sterling International Real Estate Ltd

(Registration number: 10237846)
Balance Sheet as at 30 June 2022

Note

2022
£

2021
£

Current assets

 

Debtors

4

61,829

35,145

Cash at bank and in hand

 

84,567

68,989

 

146,396

104,134

Creditors: Amounts falling due within one year

5

(87,253)

(59,256)

Net assets

 

59,143

44,878

Capital and reserves

 

Called up share capital

1

1

Retained earnings

59,142

44,877

Shareholders' funds

 

59,143

44,878

For the financial year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 7 September 2022
 

.........................................
Mr K Zand
Director

 

Sterling International Real Estate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

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:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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 consideration received or receivable for the provision of residential sales and lettings services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Debtors

Trade debtors are amounts due from customers for residential sales and letting services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Sterling International Real Estate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

4

Debtors

Current

2022
£

2021
£

Trade debtors

60,837

33,931

Prepayments

992

1,214

 

61,829

35,145

5

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

4,117

2,437

Taxation and social security

20,175

15,759

Other creditors

62,961

41,060

87,253

59,256

6

Related party transactions

Summary of transactions with other related parties

During the year, K Zand (director) had a loan with the company. At the balance sheet date the amount due to J Zand was £385 (2021: £473).