IRIS Accounts Production v24.2.0.383 08107543 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh081075432022-12-31081075432023-12-31081075432023-01-012023-12-31081075432021-12-31081075432022-01-012022-12-31081075432022-12-3108107543ns15:EnglandWales2023-01-012023-12-3108107543ns14:PoundSterling2023-01-012023-12-3108107543ns10:Director12023-01-012023-12-3108107543ns10:Director22023-01-012023-12-3108107543ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3108107543ns10:SmallEntities2023-01-012023-12-3108107543ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3108107543ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3108107543ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3108107543ns10:FullAccounts2023-01-012023-12-3108107543ns10:RegisteredOffice2023-01-012023-12-3108107543ns5:CurrentFinancialInstruments2023-12-3108107543ns5:CurrentFinancialInstruments2022-12-3108107543ns5:ShareCapital2023-12-3108107543ns5:ShareCapital2022-12-3108107543ns5:RetainedEarningsAccumulatedLosses2023-12-3108107543ns5:RetainedEarningsAccumulatedLosses2022-12-3108107543ns5:ComputerEquipment2023-01-012023-12-3108107543ns5:FurnitureFittings2022-12-3108107543ns5:ComputerEquipment2022-12-3108107543ns5:FurnitureFittings2023-12-3108107543ns5:ComputerEquipment2023-12-3108107543ns5:FurnitureFittings2022-12-3108107543ns5:ComputerEquipment2022-12-3108107543ns5:CostValuation2022-12-3108107543ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3108107543ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-31
REGISTERED NUMBER: 08107543 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st December 2023

for

Sterling Medical Limited

Sterling Medical Limited (Registered number: 08107543)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sterling Medical Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Dr A Y M J Al-Memar
Dr O J F Foster





REGISTERED OFFICE: Unit 1 College Fields
16 Prince George Road
London
SW19 2PT





REGISTERED NUMBER: 08107543 (England and Wales)





ACCOUNTANTS: Sampson Fielding Ltd
34 - 35 Clarges Street
Mayfair
London
W1J 7EJ

Sterling Medical Limited (Registered number: 08107543)

Balance Sheet
31st December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 2,100 2,100
2,100 2,100

CURRENT ASSETS
Debtors 6 53,108 50,248
Cash at bank 10,596 796
63,704 51,044
CREDITORS
Amounts falling due within one year 7 333,247 256,578
NET CURRENT LIABILITIES (269,543 ) (205,534 )
TOTAL ASSETS LESS CURRENT LIABILITIES (267,443 ) (203,434 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (267,445 ) (203,436 )
(267,443 ) (203,434 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 19th September 2024 and were signed on its behalf by:




Dr O J F Foster - Director



Dr A Y M J Al-Memar - Director


Sterling Medical Limited (Registered number: 08107543)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Sterling Medical 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.

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

The financial statements are prepared in Pound Sterling which is the functional currency of the company and rounded to nearest pound.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts.

Fees are chargeable based on the costs incurred by the company and are recognised according to the period to which the management fees relate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through the profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Going concern
The financial statements have been prepared on the going concern basis. The company is reliant on the support of group companies

If ongoing support was to be withdrawn the company would be unable to continue in operational existence. Adjustments would then have to be made to reduce the balance sheet values of assets to their recoverable amounts and to provide for any further liabilities that may arise. The company is unable to quantify the effect of such adjustments on the financial statements.

The directors believe that it is appropriate for the financial statements to be prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Sterling Medical Limited (Registered number: 08107543)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 1,170 11,932 13,102
DEPRECIATION
At 1st January 2023
and 31st December 2023 1,170 11,932 13,102
NET BOOK VALUE
At 31st December 2023 - - -
At 31st December 2022 - - -

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023
and 31st December 2023 2,100
NET BOOK VALUE
At 31st December 2023 2,100
At 31st December 2022 2,100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 8,578 5,718
Amounts owed by participating interests 44,530 44,530
53,108 50,248

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 2,401 4,968
Amounts owed to group undertakings 242,525 160,081
Taxation and social security 1,112 4,320
Other creditors 87,209 87,209
333,247 256,578