2022-03-012023-02-282023-02-28false06829717STERE REAL ESTATE 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STERE REAL ESTATE LIMITED

Registered Number
06829717
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

STERE REAL ESTATE LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

D Allen
E Mazzi

Registered Address

179 Park Lane
Poynton
Stockport
SK12 1RH

Registered Number

06829717 (England and Wales)
STERE REAL ESTATE LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets7-15
-15
Current assets
Debtors8192565
Cash at bank and on hand3,20420,462
3,39621,027
Creditors amounts falling due within one year9(1,697)(2,353)
Net current assets (liabilities)1,69918,674
Total assets less current liabilities1,69918,689
Net assets1,69918,689
Capital and reserves
Called up share capital22
Profit and loss account1,69718,687
Shareholders' funds1,69918,689
The financial statements were approved and authorised for issue by the Board of Directors on 8 September 2023, and are signed on its behalf by:
D Allen
Director
Registered Company No. 06829717
STERE REAL ESTATE LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
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).
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings10
Office Equipment3
Revenue recognition policy
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.
Taxation policy
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
5.Critical estimates and judgements
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
6.Employee information

20232022
Average number of employees during the year22
7.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 March 224,1004,100
At 28 February 234,1004,100
Depreciation and impairment
At 01 March 224,0854,085
Charge for year1515
At 28 February 234,1004,100
Net book value
At 28 February 23--
At 28 February 221515
8.Debtors

2023

2022

££
Other debtors68565
Prepayments and accrued income124-
Total192565
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Other creditors1,5171,393
Accrued liabilities and deferred income180960
Total1,6972,353
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.