Company Registration No. NI644823 (Northern Ireland)
Sterritt Business Advisory Ltd
Unaudited accounts
for the year ended 31 March 2023
Sterritt Business Advisory Ltd
Statement of financial position
as at 31 March 2023
Cash at bank and in hand
101,679
116,281
Creditors: amounts falling due within one year
(46,409)
(39,514)
Net current assets
75,833
92,566
Called up share capital
10
10
Profit and loss account
75,823
93,387
Shareholders' funds
75,833
93,397
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 October 2023 and were signed on its behalf by
Gregg Sterritt
Director
Company Registration No. NI644823
Sterritt Business Advisory Ltd
Notes to the Accounts
for the year ended 31 March 2023
Sterritt Business Advisory Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI644823. The registered office is 89 Hillsborough Road, Carryduff, County Down, BT8 8HT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The director of Sterritt Business Advisory believes that the company has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least twelve months from the date of signing. Accordingly, Sterritt Business Advisory continues to adopt the going concern basis in preparing the financial statements.
The accounts are presented in £ sterling.
Turnover comprises the invoice value of business consultation and insolvency services supplied by the company, exclusive of trade discounts and value added tax. Revenue from a contract to provide business consultation and insolvency services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line
Inventories are valued at the lower of cost and net realisable value. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
Sterritt Business Advisory Ltd
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
10,958
7,064
Loans from directors
23,765
24,000
Allotted, called up and fully paid:
7 Ordinary Shares of £1 each
7
7
2 Ordinary A Shares of £1 each
2
2
1 Ordinary B Shares of £1 each
1
1
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).