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REGISTERED NUMBER: 05305003 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

STERLING CERAMICS (DENTAL LABORATORY)
LIMITED

STERLING CERAMICS (DENTAL LABORATORY)
LIMITED (REGISTERED NUMBER: 05305003)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


STERLING CERAMICS (DENTAL LABORATORY)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: G S Halligan





SECRETARY: G S Halligan





REGISTERED OFFICE: 127 Coombs Road
Halesowen
West Midlands
B62 8AF





REGISTERED NUMBER: 05305003 (England and Wales)





ACCOUNTANTS: Crombies Accountants Limited
Chartered Accountants
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

STERLING CERAMICS (DENTAL LABORATORY)
LIMITED (REGISTERED NUMBER: 05305003)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,988 19,434
Tangible assets 5 172,678 179,622
Investments 6 3,604 3,604
187,270 202,660

CURRENT ASSETS
Stocks 7 1,500 1,700
Debtors 8 32,122 41,360
Prepayments and accrued income 2,659 900
Cash at bank and in hand 30,343 110,507
66,624 154,467
CREDITORS
Amounts falling due within one year 9 42,930 154,953
NET CURRENT ASSETS/(LIABILITIES) 23,694 (486 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

210,964

202,174

CREDITORS
Amounts falling due after more than one
year

10

(7,058

)

(12,083

)

PROVISIONS FOR LIABILITIES - (5,600 )
NET ASSETS 203,906 184,491

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 203,903 184,488
SHAREHOLDERS' FUNDS 203,906 184,491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 CERAMICS (DENTAL LABORATORY)
LIMITED (REGISTERED NUMBER: 05305003)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2024 and were signed by:





G S Halligan - Director


STERLING CERAMICS (DENTAL LABORATORY)
LIMITED (REGISTERED NUMBER: 05305003)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Sterling Ceramics (Dental Laboratory) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparation of 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 principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

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

Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its economic life of twenty years.

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


Fixtures, fittings and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Plant and equipment - 15% on reducing balance
Buildings - 2% per annum of 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 and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


STERLING CERAMICS (DENTAL LABORATORY)
LIMITED (REGISTERED NUMBER: 05305003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

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

Hire purchase and leasing contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Pension costs
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.

Investments
Investments in shares are included at cost which is the fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill Know how Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 168,901 1 168,902
AMORTISATION
At 1 March 2023 149,468 - 149,468
Amortisation for year 8,446 - 8,446
At 29 February 2024 157,914 - 157,914
NET BOOK VALUE
At 29 February 2024 10,987 1 10,988
At 28 February 2023 19,433 1 19,434

STERLING CERAMICS (DENTAL LABORATORY)
LIMITED (REGISTERED NUMBER: 05305003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and
Plant and office
Buildings equipment equipment Totals
£    £    £    £   
COST
At 1 March 2023
and 29 February 2024 178,560 85,100 29,331 292,991
DEPRECIATION
At 1 March 2023 21,427 67,724 24,218 113,369
Charge for year 3,571 2,606 767 6,944
At 29 February 2024 24,998 70,330 24,985 120,313
NET BOOK VALUE
At 29 February 2024 153,562 14,770 4,346 172,678
At 28 February 2023 157,133 17,376 5,113 179,622

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 March 2023
and 29 February 2024 3,604
NET BOOK VALUE
At 29 February 2024 3,604
At 28 February 2023 3,604

7. STOCKS
2024 2023
£    £   
Stocks 1,500 1,700

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 32,122 38,860
Other debtors - 2,500
32,122 41,360

STERLING CERAMICS (DENTAL LABORATORY)
LIMITED (REGISTERED NUMBER: 05305003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,000
Trade creditors 4,111 21,796
Taxation and social security 3,922 451
Other creditors 29,897 127,706
42,930 154,953

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,058 12,083