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REGISTERED NUMBER: 09450561 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

STERLING ROSE DEVELOPMENTS LIMITED

STERLING ROSE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09450561)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


STERLING ROSE DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr M Mehta





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 09450561 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

STERLING ROSE DEVELOPMENTS LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
STERLING ROSE DEVELOPMENTS LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


24 October 2024

STERLING ROSE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09450561)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,398 -
Investments 5 151,457 564,716
152,855 564,716

CURRENT ASSETS
Inventories 6 2,621,293 1,294,734
Debtors 7 7,378,352 8,258,764
Cash at bank 612 2,896
10,000,257 9,556,394
CREDITORS
Amounts falling due within one year 8 8,329,360 8,320,948
NET CURRENT ASSETS 1,670,897 1,235,446
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,823,752

1,800,162

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,823,750 1,800,160
SHAREHOLDERS' FUNDS 1,823,752 1,800,162

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 ROSE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09450561)

BALANCE SHEET - continued
31 MARCH 2023


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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2024 and were signed by:





Mr M Mehta - Director


STERLING ROSE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09450561)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Sterling Rose Developments 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.

Turnover
Turnover represents revenue recognised by the company in respect of property sales, exclusive of VAT.

Turnover is recognised when the company has a right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 15% on reducing balance

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

Inventories
Property work in progress is valued at the lower of cost and net realisable less cost to sell.

Cost for this purpose comprises the purchase of land and buildings, development expenditure and overheads.

In considering the net realisable value of land and properties it is assumed that the development will be
completed and sold in the ordinary course of the company's business.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.


STERLING ROSE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09450561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
Additions 1,645
At 31 March 2023 1,645
DEPRECIATION
Charge for year 247
At 31 March 2023 247
NET BOOK VALUE
At 31 March 2023 1,398

STERLING ROSE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09450561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 April 2022 149,716 415,000 564,716
Disposals - (413,259 ) (413,259 )
At 31 March 2023 149,716 1,741 151,457
NET BOOK VALUE
At 31 March 2023 149,716 1,741 151,457
At 31 March 2022 149,716 415,000 564,716

6. INVENTORIES
2023 2022
£    £   
Development properties 2,621,293 1,294,734

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 70,500 68,625
Amounts owed by connected companies 7,166,613 8,051,891
Other debtors 9,200 29,202
Prepayments 132,039 109,046
7,378,352 8,258,764

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 97,272 97,272
Amounts owed to connected companies 3,811,358 4,955,431
Tax 57,602 225,386
Social security and other taxes 5,975 9,783
Other creditors 2,128,831 1,712,154
Directors' current accounts 2,015,514 1,108,232
Accrued expenses 212,808 212,690
8,329,360 8,320,948

STERLING ROSE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09450561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the year end the company owed £2,015,514 (2022: £1,108,232) to the director. The amount owed is repayable on demand and interest free.


At the year end, the company was owed by the following connected companies in which the director has a beneficial interest. The amount owed is interest free and repayable on demand.

31/03/2023 31/03/22
£    £   
Emperor Property (Group) Limited 6,761
Leslie Park Road Limited 704,208 818,768
MM3 Investments Limited 17,464
Westmead Road Limited 63,895
MM2 Investments Limited 74,587 80,417
MM4 Investments Limited 1,319,335
MM5 Investments Limited 1,351,996 49,853
MM9 Investments Limited 65,322
2,220,339 2,332,268

At the year end, the company owed to the following connected companies in which the director has a beneficial interest. The amount owed is interest free and repayable on demand.

31/03/23 31/03/22
£    £   
Emperor Residential Limited 417,236 47,237
Emperor Residential II Limited 42,375 36,500
Emperor Residential 111 Limited 621,550 600,500
Sterling Rose Investments Limited - 100,659
Emperor Property (Group) Limited - 271,005
MM3 Investments Limited 76,788
Westmead Road Limited 578,314
MM9 Investments Limited 3900
1,659,475 1,136,589

10. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Emperor Development (Group) Limited, a company registered in England and Wales.