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REGISTERED NUMBER: 02579018 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

STERLING REDUX LTD

STERLING REDUX LTD (REGISTERED NUMBER: 02579018)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


STERLING REDUX LTD (REGISTERED NUMBER: 02579018)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 400,000 400,000
400,000 400,000

CURRENT ASSETS
Debtors 6 681,871 676,693
Cash at bank 4,956 40,483
686,827 717,176
CREDITORS
Amounts falling due within one year 7 34,861 50,022
NET CURRENT ASSETS 651,966 667,154
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,051,966

1,067,154

CREDITORS
Amounts falling due after more than one
year

8

320,073

323,010
NET ASSETS 731,893 744,144

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Capital redemption reserve 340,000 340,000
Retained earnings 341,893 354,144
731,893 744,144

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 REDUX LTD (REGISTERED NUMBER: 02579018)

BALANCE SHEET - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 November 2024 and were signed by:





T M Gladstone - Director


STERLING REDUX LTD (REGISTERED NUMBER: 02579018)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Sterling Redux Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02579018

Registered office: 5 Brooklands Place
Brooklands Road
Sale
Cheshire
M33 3SD

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

STERLING REDUX LTD (REGISTERED NUMBER: 02579018)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 April 2023
and 31 March 2024 698,876
DEPRECIATION
At 1 April 2023
and 31 March 2024 698,876
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

The freehold property was reclassified as an investment property and the previous revaluation was reversed. The investment property is stated in the accounts at fair value.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 400,000
NET BOOK VALUE
At 31 March 2024 400,000
At 31 March 2023 400,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 681,871 676,693

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,877 4,817
Trade creditors 3,253 -
Taxation and social security 7,095 41,405
Other creditors 20,636 3,800
34,861 50,022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 320,073 323,010

STERLING REDUX LTD (REGISTERED NUMBER: 02579018)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other creditors 323,950 327,827

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
T M Gladstone
Balance outstanding at start of year 30,515 -
Amounts advanced - 30,515
Amounts repaid (30,515 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 30,515

Interest is paid on overdrawn directors loans at a market rate.