1 November 2022 false Taxfiler 2023.14 3495208business:PrivateLimitedCompanyLtd2022-11-012023-10-31 34952082022-10-31 34952082022-11-012023-10-31 3495208business:AuditExempt-NoAccountantsReport2022-11-012023-10-31 3495208business:FilletedAccounts2022-11-012023-10-31 34952082023-10-31 3495208business:Director12022-11-012023-10-31 3495208business:Director22022-11-012023-10-31 3495208business:Director32022-11-012023-10-31 3495208business:Director42022-11-012023-10-31 3495208business:Director52022-11-012023-10-31 3495208business:Director62022-11-012023-10-31 3495208business:CompanySecretary12022-11-012023-10-31 3495208business:RegisteredOffice2022-11-012023-10-31 34952082022-10-31 3495208core:WithinOneYear2023-10-31 3495208core:WithinOneYear2022-10-31 3495208core:ShareCapitalcore:PreviouslyStatedAmount2023-10-31 3495208core:ShareCapitalcore:PreviouslyStatedAmount2022-10-31 3495208core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 3495208core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-10-31 3495208core:PreviouslyStatedAmount2023-10-31 3495208core:PreviouslyStatedAmount2022-10-31 3495208business:SmallEntities2022-11-012023-10-31 3495208countries:EnglandWales2022-11-012023-10-31 3495208core:LandBuildings2022-10-31 3495208core:PlantMachinery2022-10-31 3495208core:MotorVehicles2022-10-31 3495208core:LandBuildings2022-11-012023-10-31 3495208core:PlantMachinery2022-11-012023-10-31 3495208core:MotorVehicles2022-11-012023-10-31 3495208core:LandBuildings2023-10-31 3495208core:PlantMachinery2023-10-31 3495208core:MotorVehicles2023-10-31 3495208business:OrdinaryShareClass12022-11-012023-10-31 3495208business:OrdinaryShareClass12021-11-012022-10-31 3495208business:OrdinaryShareClass22022-11-012023-10-31 3495208business:OrdinaryShareClass22021-11-012022-10-31 3495208business:OrdinaryShareClass32022-11-012023-10-31 3495208business:OrdinaryShareClass32021-11-012022-10-31 3495208business:AllOrdinaryShares2022-11-012023-10-31 3495208business:AllOrdinaryShares2021-11-012022-10-31 34952082021-11-012022-10-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 3495208 (England and Wales)
Sterling Safetywear Limited Unaudited accounts for the year ended 31 October 2023
Sterling Safetywear Limited Unaudited accounts Contents
Page
- 2 -
Sterling Safetywear Limited Company Information for the year ended 31 October 2023
Directors
RJ Denton Mrs AJ Denton RJ Campion Mrs PM Campion DL O'Dell Mrs T Neal
Secretary
Miss C Minney
Company Number
3495208 (England and Wales)
Registered Office
CROWN HOUSE 310 WELLINGBOROUGH ROAD RUSHDEN NORTHAMPTONSHIRE NN10 6PP
- 3 -
Sterling Safetywear Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
663,940 
521,000 
Current assets
Inventories
7,327,231 
7,017,397 
Debtors
15,979,707 
12,556,389 
Cash at bank and in hand
13,681,280 
14,196,384 
36,988,218 
33,770,170 
Creditors: amounts falling due within one year
(8,277,754)
(8,604,448)
Net current assets
28,710,464 
25,165,722 
Net assets
29,374,404 
25,686,722 
Capital and reserves
Called up share capital
20,000 
20,000 
Profit and loss account
29,354,404 
25,666,722 
Shareholders' funds
29,374,404 
25,686,722 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by
RJ Campion Director Company Registration No. 3495208
- 4 -
Sterling Safetywear Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Sterling Safetywear Limited is a private company, limited by shares, registered in England and Wales, registration number 3495208. The registered office is CROWN HOUSE, 310 WELLINGBOROUGH ROAD, RUSHDEN, NORTHAMPTONSHIRE, NN10 6PP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is the total amount receivable by the company for goods supplied and services provided, excluding VAT and trade discounts. Return to vendor turnover is recognised on sale to end user.
Fixed assets and depreciation policy
Depreciation is calculated at 25% to write down the cost of plant and machinery and motor vehicles by the reducing balance method over their estimated useful economic lives. Freehold buildings are depreciated over 25 years by the straight line method.
Stock
Stock is stated at the lower of cost and net realisable value. Cost means purchase price plus bank charges, duty and carriage in bringing goods to our warehouse.
Taxation
The charge for taxation is based on the profit for the year and takes into account a full provision for taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes.
- 5 -
Sterling Safetywear Limited Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 November 2022
937,839 
98,411 
116,888 
1,153,138 
Additions
- 
- 
268,920 
268,920 
Disposals
- 
- 
(104,888)
(104,888)
At 31 October 2023
937,839 
98,411 
280,920 
1,317,170 
Depreciation
At 1 November 2022
477,839 
97,411 
56,888 
632,138 
Charge for the year
- 
1,000 
67,980 
68,980 
On disposals
- 
- 
(47,888)
(47,888)
At 31 October 2023
477,839 
98,411 
76,980 
653,230 
Net book value
At 31 October 2023
460,000 
- 
203,940 
663,940 
At 31 October 2022
460,000 
1,000 
60,000 
521,000 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
15,961,230 
12,556,389 
Accrued income and prepayments
18,477 
- 
15,979,707 
12,556,389 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
4,491,015 
3,266,611 
Taxes and social security
730,309 
621,736 
Loans from directors
2,539,149 
4,716,101 
Accruals
517,281 
- 
8,277,754 
8,604,448 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
8,500 Mr RJ Denton of £1 each
8,500 
8,500 
1,500 Mrs AJ Denton of £1 each
1,500 
1,500 
10,000 Baron Safety Ltd of £1 each
10,000 
10,000 
20,000 
20,000 
8
Transactions with related parties
The company earned £1,727,368 (2022: £1,578,783) from selling as agent the entire designed safetywear output of DCD Design Ltd.
- 6 -
Sterling Safetywear Limited Notes to the Accounts for the year ended 31 October 2023
9
Controlling party
The equal shareholders, Mr & Mrs R J Denton and Baron Safety Ltd, acting together in agreement, are this company's controlling related parties.
10
Average number of employees
During the year the average number of employees was 39 (2022: 39).
- 7 -