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REGISTERED NUMBER: 09835395 (England and Wales)
















Financial Statements

for the Year Ended 31 October 2023

for

Sterling Storage Solutions Limited

Sterling Storage Solutions Limited (Registered number: 09835395)

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Sterling Storage Solutions Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: M A Riddle
A L Hinch





REGISTERED OFFICE: Wicliffe Industrial Estate
Chestnut Lane
Stroud
Gloucestershire
GL5 3EN





REGISTERED NUMBER: 09835395 (England and Wales)





ACCOUNTANTS: GCSD Accountants Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT

Sterling Storage Solutions Limited

Report of the Accountants to the Directors of
Sterling Storage Solutions Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company 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 financial statements of the Company. 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 financial statements.






GCSD Accountants Limited


2 February 2024

Sterling Storage Solutions Limited (Registered number: 09835395)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 534,751 544,482

CURRENT ASSETS
Debtors 5 39,285 38,015
Cash at bank and in hand 79,699 55,033
118,984 93,048
CREDITORS
Amounts falling due within one year 6 169,779 271,943
NET CURRENT LIABILITIES (50,795 ) (178,895 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

483,956

365,587

CREDITORS
Amounts falling due after more than
one year

7

(15,834

)

(25,833

)

PROVISIONS FOR LIABILITIES (104,498 ) (88,938 )
NET ASSETS 363,624 250,816

Sterling Storage Solutions Limited (Registered number: 09835395)

Balance Sheet - continued
31 October 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings 363,594 250,786
SHAREHOLDERS' FUNDS 363,624 250,816

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 February 2024 and were signed on its behalf by:




A L Hinch - Director



M A Riddle - Director


Sterling Storage Solutions Limited (Registered number: 09835395)

Notes to the Financial Statements
for the Year Ended 31 October 2023


1. STATUTORY INFORMATION

Sterling Storage Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on reducing balance
Shipping containers - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Sterling Storage Solutions Limited (Registered number: 09835395)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Short Shipping Plant and
leasehold containers machinery
£    £    £   
COST
At 1 November 2022 286,618 554,191 71,035
Additions - 71,378 -
Disposals - - -
At 31 October 2023 286,618 625,569 71,035
DEPRECIATION
At 1 November 2022 154,714 252,528 36,206
Charge for year 17,607 55,603 5,224
Eliminated on disposal - - -
At 31 October 2023 172,321 308,131 41,430
NET BOOK VALUE
At 31 October 2023 114,297 317,438 29,605
At 31 October 2022 131,904 301,663 34,829

Sterling Storage Solutions Limited (Registered number: 09835395)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 152,688 - 15,674 1,080,206
Additions 6,200 13,750 1,292 92,620
Disposals (345 ) - - (345 )
At 31 October 2023 158,543 13,750 16,966 1,172,481
DEPRECIATION
At 1 November 2022 85,217 - 7,059 535,724
Charge for year 17,709 3,438 2,477 102,058
Eliminated on disposal (52 ) - - (52 )
At 31 October 2023 102,874 3,438 9,536 637,730
NET BOOK VALUE
At 31 October 2023 55,669 10,312 7,430 534,751
At 31 October 2022 67,471 - 8,615 544,482

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 20,238 22,473
Other debtors 19,047 15,542
39,285 38,015

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 15,179 9,367
Taxation and social security 64,973 39,373
Other creditors 79,627 213,203
169,779 271,943

Sterling Storage Solutions Limited (Registered number: 09835395)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 10,000 10,000
Other creditors 5,834 15,833
15,834 25,833

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 5,834 15,833

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 14,238 -