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Registered number: 11611178
Sterling Bicycles Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
AJF Property and Capital Ltd
6 Hawthornden Close
Kings Hill
West Malling
Kent
ME19 4GD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11611178
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,019 2,019
Tangible Assets 5 457 -
2,476 2,019
CURRENT ASSETS
Debtors 6 76 61
Cash at bank and in hand 2,410 1,026
2,486 1,087
NET CURRENT ASSETS (LIABILITIES) 2,486 1,087
TOTAL ASSETS LESS CURRENT LIABILITIES 4,962 3,106
Creditors: Amounts Falling Due After More Than One Year 7 (31,487 ) (29,262 )
NET LIABILITIES (26,525 ) (26,156 )
CAPITAL AND RESERVES
Called up share capital 8 101 101
Profit and Loss Account (26,626 ) (26,257 )
SHAREHOLDERS' FUNDS (26,525) (26,156)
Page 1
Page 2
For the year ending 31 March 2024 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 Andrew Fenn
Director
1st October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sterling Bicycles Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11611178 . The registered office is 6 Hawthornden Close, Kings Hill, West Malling, Kent, ME19 4GD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are stated at cost.  They are neither amortised nor depreciated. t
2.4. 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:
Freehold NA
Leasehold NA
Plant & Machinery over 3 years
Motor Vehicles NA
Fixtures & Fittings over 5 years
Computer Equipment over 3 years
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:  2 (2023: 2)
2 2
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 April 2023 2,019
As at 31 March 2024 2,019
Net Book Value
As at 31 March 2024 2,019
As at 1 April 2023 2,019
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Page 4
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 -
Additions 685
As at 31 March 2024 685
Depreciation
As at 1 April 2023 -
Provided during the period 228
As at 31 March 2024 228
Net Book Value
As at 31 March 2024 457
As at 1 April 2023 -
6. Debtors
2024 2023
£ £
Due within one year
VAT 76 61
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Steve Hatch (Long term liabilities - creditors > 1 year) 6,463 6,097
Directors loan account 25,024 23,165
31,487 29,262
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 101 101
Page 4