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REGISTERED NUMBER: 08064131 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Sterling Diamond Chester Limited

Sterling Diamond Chester Limited (Registered number: 08064131)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sterling Diamond Chester Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: N Erhen
T A Bellis





REGISTERED OFFICE: Unit 25
Burlington Arcade
Mayfair
London
W1J 0PT





REGISTERED NUMBER: 08064131 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Sterling Diamond Chester Limited (Registered number: 08064131)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,773 10,363

CURRENT ASSETS
Stocks 374,000 355,010
Debtors 5 21,795 18,309
Cash at bank 41,045 74,376
436,840 447,695
CREDITORS
Amounts falling due within one year 6 252,354 203,018
NET CURRENT ASSETS 184,486 244,677
TOTAL ASSETS LESS CURRENT
LIABILITIES

192,259

255,040

CREDITORS
Amounts falling due after more than one
year

7

53,409

96,135
NET ASSETS 138,850 158,905

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 138,750 158,805
SHAREHOLDERS' FUNDS 138,850 158,905

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Sterling Diamond Chester Limited (Registered number: 08064131)

Balance Sheet - continued
31 May 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:





N Erhen - Director


Sterling Diamond Chester Limited (Registered number: 08064131)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Sterling Diamond Chester 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 financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 20% on cost
Plant and machinery etc - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 6 ) .

Sterling Diamond Chester Limited (Registered number: 08064131)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 28,261 59,292 87,553
DEPRECIATION
At 1 June 2023 17,898 59,292 77,190
Charge for year 2,590 - 2,590
At 31 May 2024 20,488 59,292 79,780
NET BOOK VALUE
At 31 May 2024 7,773 - 7,773
At 31 May 2023 10,363 - 10,363

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 21,795 18,309

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 42,727 42,727
Trade creditors 2,775 -
Taxation and social security 29,008 21,022
Other creditors 177,844 139,269
252,354 203,018

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 53,409 96,135

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100