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Registered number: 04510010
Stirling Business Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Phillips Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04510010
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 311 411
311 411
CURRENT ASSETS
Debtors 5 11,014 47,036
11,014 47,036
Creditors: Amounts Falling Due Within One Year 6 (15,882 ) (19,981 )
NET CURRENT ASSETS (LIABILITIES) (4,868 ) 27,055
TOTAL ASSETS LESS CURRENT LIABILITIES (4,557 ) 27,466
Creditors: Amounts Falling Due After More Than One Year 7 (75,938 ) (84,438 )
NET LIABILITIES (80,495 ) (56,972 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Share premium account 6,479 6,479
Profit and Loss Account (86,976 ) (63,453 )
SHAREHOLDERS' FUNDS (80,495) (56,972)
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Roger Smith
Director
13/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Stirling Business Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04510010 . The registered office is One Victoria Square, Birmingham, West Midlands, B1 1BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on reducing balance
Fixtures & Fittings 20% on reducing balance
Computer Equipment 33% on cost
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: NIL)
1 -
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 10,435 1,161 15,962 27,558
As at 31 December 2023 10,435 1,161 15,962 27,558
Depreciation
As at 1 January 2023 10,435 750 15,962 27,147
Provided during the period - 100 - 100
As at 31 December 2023 10,435 850 15,962 27,247
Net Book Value
As at 31 December 2023 - 311 - 311
As at 1 January 2023 - 411 - 411
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 5,760
Other debtors 5,834 5,803
Director's loan account 5,180 35,473
11,014 47,036
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 6,062 5,319
Bank loans and overdrafts 8,118 12,427
Other taxes and social security 762 1,295
Accruals and deferred income 940 940
15,882 19,981
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 8,500
Other loans 75,938 75,938
75,938 84,438
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8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
Page 5