Registered number
07289181
Sterling Window Repairs Limited
Filleted Accounts
30 June 2023
Sterling Window Repairs Limited
Registered number: 07289181
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,609 7,941
Current assets
Debtors 4 386 8,416
Cash at bank and in hand 14,836 16,643
15,222 25,059
Creditors: amounts falling due within one year 5 (17,228) (31,952)
Net current liabilities (2,006) (6,893)
Net assets 1,603 1,048
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,503 948
Shareholders' funds 1,603 1,048
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Benbow
Director
Approved by the board on 28 September 2023
Sterling Window Repairs Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Turnover
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. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33.3% straight line
Computer Equipment 25% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
At 1 July 2022 16,645 249 16,894
At 30 June 2023 16,645 249 16,894
Depreciation
At 1 July 2022 8,704 249 8,953
Charge for the year 4,332 - 4,332
At 30 June 2023 13,036 249 13,285
Net book value
At 30 June 2023 3,609 - 3,609
At 30 June 2022 7,941 - 7,941
4 Debtors 2023 2022
£ £
Trade debtors - 8,085
Other debtors 386 331
386 8,416
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 10,531 11,214
Other creditors 6,697 20,738
17,228 31,952
6 Other information
Sterling Window Repairs Limited is a private company limited by shares and incorporated in England. Its registered office is:
102 Tettenhall Road
Wolverhampton
WV6 0BW
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