Sternberg Press Ltd 13184978 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is that of literary publishing. Digita Accounts Production Advanced 6.30.9574.0 true true 13184978 2022-03-01 2023-02-28 13184978 2023-02-28 13184978 core:CurrentFinancialInstruments 2023-02-28 13184978 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13184978 core:FurnitureFittingsToolsEquipment 2023-02-28 13184978 bus:SmallEntities 2022-03-01 2023-02-28 13184978 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 13184978 bus:FullAccounts 2022-03-01 2023-02-28 13184978 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 13184978 bus:RegisteredOffice 2022-03-01 2023-02-28 13184978 bus:Director1 2022-03-01 2023-02-28 13184978 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13184978 core:ComputerEquipment 2022-03-01 2023-02-28 13184978 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 13184978 countries:EnglandWales 2022-03-01 2023-02-28 13184978 2022-02-28 13184978 core:FurnitureFittingsToolsEquipment 2022-02-28 13184978 2021-02-08 2022-02-28 13184978 2022-02-28 13184978 core:CurrentFinancialInstruments 2022-02-28 13184978 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 13184978 core:FurnitureFittingsToolsEquipment 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 13184978

Sternberg Press Ltd

Unaudited Financial Statements

for the Year Ended 28 February 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Sternberg Press Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

Sternberg Press Ltd

Company Information

Director

C Schneider

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Sternberg Press Ltd

Statement of Financial Position as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,005

1,215

Current assets

 

Stocks

5

92,888

80,277

Debtors

6

51,818

29,090

Cash at bank and in hand

 

28,999

54,732

 

173,705

164,099

Creditors: Amounts falling due within one year

7

(332,045)

(191,446)

Net current liabilities

 

(158,340)

(27,347)

Net liabilities

 

(157,335)

(26,132)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(157,336)

(26,133)

Shareholders' deficit

 

(157,335)

(26,132)

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 28 January 2024
 

.........................................

C Schneider

Director

Company registration number: 13184978

 

Sternberg Press Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of literary publishing.

2

Accounting policies

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a loss for the year ended 28 February 2023 and the statement of financial position at that date showed a deficiency of assets of £157,335.

At this date an amount of £277,542 was due to the director who has confirmed that she will not call for repayment until such time as the company has sufficient working capital and has also agreed to provide further working capital as the company requires to meet its obligations for the forthcoming year and for a period of at least 12 months from the approval of these financial statements.

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, she continues to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of books and provision of propriety publishing in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue from the sale of books and publications upon the dispatch to customers once the amount of revenue can be reliably measured.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Sternberg Press Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

Straight line over 4 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises largely printed books and other publications and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 0).

 

Sternberg Press Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

1,620

1,620

Additions

260

260

At 28 February 2023

1,880

1,880

Depreciation

At 1 March 2022

405

405

Charge for the year

470

470

At 28 February 2023

875

875

Carrying amount

At 28 February 2023

1,005

1,005

At 28 February 2022

1,215

1,215

5

Stocks

2023
£

2022
£

Stock

92,888

80,277

6

Debtors

2023
£

2022
£

Trade debtors

26,513

13,412

Other debtors

25,305

15,678

51,818

29,090

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

33,512

36,583

Accruals and deferred income

20,991

18,506

Other creditors

277,542

136,357

332,045

191,446

 

Sternberg Press Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £17,541 (2022 - £21,745).