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Registered Number: 13246054
England and Wales

 

 

 

STERLING UK ASSET MANAGEMENT LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of STERLING UK ASSET MANAGEMENT LIMITED for the year ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of STERLING UK ASSET MANAGEMENT LIMITED for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance. 


This report is made solely to the Board of Directors of STERLING UK ASSET MANAGEMENT LIMITED , as a body, in accordance with the terms of our engagement letter dated 19 October 2023. Our work has been undertaken solely to prepare for your approval the accounts of STERLING UK ASSET MANAGEMENT LIMITED and state those matters that we have agreed to state to the Board of Directors of STERLING UK ASSET MANAGEMENT LIMITED , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than STERLING UK ASSET MANAGEMENT LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that STERLING UK ASSET MANAGEMENT LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of STERLING UK ASSET MANAGEMENT LIMITED .You consider that STERLING UK ASSET MANAGEMENT LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of STERLING UK ASSET MANAGEMENT LIMITED . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 March 2023.



....................................................
MSSK Corporate Consultancy (UK) Limited
12 Hop Gardenway
Ash
Surrey
Gu12 6FN
19 October 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 179,036    179,139 
179,036    179,139 
Current assets      
Cash at bank and in hand 2,837    4,960 
Creditors: amount falling due within one year (177,935)   (183,679)
Net current liabilities (175,098)   (178,719)
 
Total assets less current liabilities 3,938    420 
Net assets 3,938    420 
 

Capital and reserves
     
Called up share capital 200    200 
Profit and loss account 3,738    220 
Shareholder's funds 3,938    420 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 19 October 2023 and were signed on its behalf by:


-------------------------------
Chi Yu FONG
Director
-------------------------------
Rico Sze Man MA
Director
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General Information
STERLING UK ASSET MANAGEMENT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13246054, registration address FLAT 65 BREE COURT, CAPITOL WAY LONDON, NW9 0AU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings 0%
Plant and machinery etc 20%
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 April 2022 178,727    515    179,242 
Additions    
Disposals    
At 31 March 2023 178,727    515    179,242 
Depreciation
At 01 April 2022   103    103 
Charge for year   103    103 
On disposals    
At 31 March 2023   206    206 
Net book values
Closing balance as at 31 March 2023 178,727    309    179,036 
Opening balance as at 01 April 2022 178,727    412    179,139 


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