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REGISTERED NUMBER: OC300369 (England and Wales)























Unaudited Financial Statements for the Year Ended 31st December 2022

for

Sterling Finance LLP

Sterling Finance LLP (Registered number: OC300369)






Contents of the Financial Statements
for the Year Ended 31st December 2022




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sterling Finance LLP

General Information
for the Year Ended 31st December 2022







Designated members: Mr P W Edmondson
Mrs G Edmondson
Mr M A Edmondson
The Leasing And Finance Corporation Limited



Registered office: Unit 3 Ashway
Thorp Arch Trading Estate
Wetherby
North Yorkshire
LS23 7FA



Registered number: OC300369 (England and Wales)



Accountants: Holmes & Co Accountants Ltd
16 Westgate
Baildon
Shipley
West Yorkshire
BD17 5EJ



Bankers: HSBC Bank Plc

Sterling Finance LLP (Registered number: OC300369)

Balance Sheet
31st December 2022

2022 2021
Notes £    £    £    £   
Fixed assets
Tangible assets 4 359,311 237,765

Current assets
Stocks 1,078,840 1,278,410
Debtors 5 199,205 323,710
Cash in hand 60,969 227,719
1,339,014 1,829,839
Creditors
Amounts falling due within one year 6 1,256,472 1,650,606
Net current assets 82,542 179,233
Total assets less current liabilities 441,853 416,998

Creditors
Amounts falling due after more than one year 7 247,587 245,987
Net assets attributable to members 194,266 171,011

Loans and other debts due to members 8 194,266 171,011

Total members' interests
Loans and other debts due to members 8 194,266 171,011

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31st December 2022.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 30th September 2023 and were signed by:




Mr P W Edmondson - Designated member

Sterling Finance LLP (Registered number: OC300369)

Notes to the Financial Statements
for the Year Ended 31st December 2022

1. Statutory information

Sterling Finance LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 33% on reducing balance and 5% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. Employee information

The average number of employees during the year was 14 (2021 - 14 ) .

4. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1st January 2022 9,579 14,121 258,020 23,161 304,881
Additions 5,150 8,483 314,313 5,709 333,655
Disposals - - (174,795 ) - (174,795 )
At 31st December 2022 14,729 22,604 397,538 28,870 463,741
Depreciation
At 1st January 2022 9,579 11,717 23,973 21,847 67,116
Charge for year 755 1,775 43,841 1,006 47,377
Eliminated on disposal - - (10,063 ) - (10,063 )
At 31st December 2022 10,334 13,492 57,751 22,853 104,430
Net book value
At 31st December 2022 4,395 9,112 339,787 6,017 359,311
At 31st December 2021 - 2,404 234,047 1,314 237,765

Sterling Finance LLP (Registered number: OC300369)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2022

5. Debtors: amounts falling due within one year
2022 2021
£    £   
Trade debtors 166,793 310,187
Other debtors 32,412 13,523
199,205 323,710

6. Creditors: amounts falling due within one year
2022 2021
£    £   
Bank loans and overdrafts 42,796 40,967
Finance leases 66,645 29,971
Trade creditors 132,110 437,750
Taxation and social security 60,022 84,760
Other creditors 954,899 1,057,158
1,256,472 1,650,606

7. Creditors: amounts falling due after more than one year
2022 2021
£    £   
Bank loans 57,935 100,750
Finance leases 189,652 145,237
247,587 245,987

8. Loans and other debts due to members

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.
There is no provision for specific legally enforceable protection afforded to creditors in such an event.
There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'.