Company registration number 07652551 (England and Wales)
Sterlingsafe Trustee Company Limited
Unaudited financial statements
For the year ended 30 November 2023
STERLINGSAFE TRUSTEE COMPANY LIMITED
Sterlingsafe Trustee Company Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Sterlingsafe Trustee Company Limited
Balance sheet
As at 30 November 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
350,277
59,139
Cash at bank and in hand
64,301
253,561
414,578
312,700
Creditors: amounts falling due within one year
5
(61,577)
(23,008)
Net current assets
353,001
289,692
Capital and reserves
Called up share capital
6
1,210
1,210
Profit and loss reserves
351,791
288,482
Total equity
353,001
289,692
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 30 August 2024
Mrs S J Annet
Director
Company registration number 07652551 (England and Wales)
STERLINGSAFE TRUSTEE COMPANY LIMITED
Sterlingsafe Trustee Company Limited
Notes to the financial statements
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information
Sterlingsafe Trustee Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Alvaston Business Park, Middlewich Road, Cheshire, CW5 6PF, Nantwich.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
1.3
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
STERLINGSAFE TRUSTEE COMPANY LIMITED
Sterlingsafe Trustee Company Limited
Notes to the financial statements (continued)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 December 2022 and 30 November 2023
1,170
Depreciation and impairment
At 1 December 2022 and 30 November 2023
1,170
Carrying amount
At 30 November 2023
At 30 November 2022
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,890
Unpaid share capital
1,210
1,210
Corporation tax recoverable
4,847
4,847
Other debtors
309,051
47,216
Prepayments and accrued income
33,279
5,866
350,277
59,139
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
19,031
14,855
Corporation tax
16,717
Other taxation and social security
7,045
Accruals and deferred income
18,784
8,153
61,577
23,008
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
1,200
1,200
1,200
1,200
Ordinary A shares of £1 each
10
10
10
10
1,210
1,210
1,210
1,210
STERLINGSAFE TRUSTEE COMPANY LIMITED
Sterlingsafe Trustee Company Limited
Notes to the financial statements (continued)
FOR THE YEAR ENDED 30 NOVEMBER 2023
6
Called up share capital
(Continued)
- 4 -
The full amount of share capital remained unpaid at the balance sheet date.
7
Related party transactions
Transactions with related parties
At the end of the previous year there were outstanding loans to daughters of Stephen John Isherwood, shareholder, totalling £12,870. These loans were repaid on 30 August 2023.
During the year further loans were made totalling £2,230.
Interest has been charged on these loans at a rate of 2% to 5 April 2023 and 2.25% from 6 April 2023 to 30 November 2023.
The balance outstanding at the year end including accrued interest and included in other debtors amounts to £2,488.
During the year loans totalling £230,000 were made to Sterlingsafe Trustees Limited a company which is wholly owned by Mrs S J Annet, director and shareholder. This amount was outstanding at the year end and is included in other debtors.
2023
2022
Amounts due from related parties
£
£
Entities under common control
230,865
865
Other related parties
2,488
12,870