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REGISTERED NUMBER: 12058678 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

STERLING FMS LIMITED

STERLING FMS LIMITED (REGISTERED NUMBER: 12058678)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STERLING FMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Miss C A Moss
P A Moss
Mrs W Moss





SECRETARY: Miss C A Moss





REGISTERED OFFICE: Armstrong House
First Avenue
Finningley
Doncaster
South Yorkshire
DN9 3GA





REGISTERED NUMBER: 12058678 (England and Wales)





ACCOUNTANTS: A Wigglesworth And Company Ltd
Armstrong House
First Avenue
Finningley
Doncaster
South Yorkshire
DN9 3GA

STERLING FMS LIMITED (REGISTERED NUMBER: 12058678)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 57,588 -

CURRENT ASSETS
Stocks 15,927 87,972
Debtors 5 334,962 271,658
Cash at bank and in hand 243,810 48,565
594,699 408,195
CREDITORS
Amounts falling due within one year 6 364,336 286,847
NET CURRENT ASSETS 230,363 121,348
TOTAL ASSETS LESS CURRENT
LIABILITIES

287,951

121,348

CREDITORS
Amounts falling due after more than one
year

7

46,267

33,333
NET ASSETS 241,684 88,015

CAPITAL AND RESERVES
Called up share capital 110 110
Retained earnings 241,574 87,905
241,684 88,015

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

STERLING FMS LIMITED (REGISTERED NUMBER: 12058678)

BALANCE SHEET - continued
30 JUNE 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2024 and were signed on its behalf by:





P A Moss - Director


STERLING FMS LIMITED (REGISTERED NUMBER: 12058678)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Sterling FMS 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 FMS LIMITED (REGISTERED NUMBER: 12058678)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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 15 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 61,230
At 30 June 2023 61,230
DEPRECIATION
Charge for year 3,642
At 30 June 2023 3,642
NET BOOK VALUE
At 30 June 2023 57,588

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 269,289 178,588
Directors' current accounts 41,746 69,143
Tax 23,927 23,927
334,962 271,658

STERLING FMS LIMITED (REGISTERED NUMBER: 12058678)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans - 4,848
Hire purchase contracts 8,094 -
Trade creditors 178,657 129,254
Tax 82,270 64,713
Social security and other taxes 13,101 9,344
VAT 48,426 53,050
Other creditors 15,785 10,638
Accrued expenses 8,003 5,000
364,336 286,847

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 13,333 23,333
Hire purchase contracts 22,934 -
46,267 33,333

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
P A Moss
Balance outstanding at start of year 69,143 73,621
Amounts advanced 41,746 69,143
Amounts repaid (69,143 ) (73,621 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 41,746 69,143

Beneficial loan interest of £537 (2022 - £685) has been charged on the overdrawn director's loan account.