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REGISTERED NUMBER: 05217200 (England and Wales)















STERLING HEATING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






STERLING HEATING LIMITED (REGISTERED NUMBER: 05217200)

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










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


STERLING HEATING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr M.L. Beale
Mr A.L. Grimmett





SECRETARY: Mr M.L. Beale





REGISTERED OFFICE: 46 Ridge Road
Kingswinford
West Midlands
DY6 9RD





REGISTERED NUMBER: 05217200 (England and Wales)





ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
STERLING HEATING LIMITED (REGISTERED NUMBER: 05217200)


The following reproduces the text of the report prepared for the directors 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sterling Heating Limited for the year ended 31 August 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sterling Heating Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sterling Heating Limited and state those matters that we have agreed to state to the Board of Directors of Sterling Heating Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sterling Heating Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sterling Heating Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sterling Heating Limited. You consider that Sterling Heating Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sterling Heating Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


8 January 2025

STERLING HEATING LIMITED (REGISTERED NUMBER: 05217200)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 94,551 123,540

CURRENT ASSETS
Stock and work in progress 10,800 10,800
Debtors 5 84,669 72,832
Cash at bank 40,028 91,764
135,497 175,396
CREDITORS
Amounts falling due within one year 6 129,679 184,179
NET CURRENT ASSETS/(LIABILITIES) 5,818 (8,783 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

100,369

114,757

CREDITORS
Amounts falling due after more than one year 7 (7,909 ) (18,219 )

PROVISIONS FOR LIABILITIES (17,965 ) (23,473 )
NET ASSETS 74,495 73,065

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 74,493 73,063
SHAREHOLDERS' FUNDS 74,495 73,065

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 HEATING LIMITED (REGISTERED NUMBER: 05217200)

STATEMENT OF FINANCIAL POSITION - continued
31 AUGUST 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by:





Mr A.L. Grimmett - Director


STERLING HEATING LIMITED (REGISTERED NUMBER: 05217200)

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


1. STATUTORY INFORMATION

Sterling Heating 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 net sales of goods/services, excluding value added tax

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stock and work in progress 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.

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.

STERLING HEATING LIMITED (REGISTERED NUMBER: 05217200)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 5 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 64,943 191,342 256,285
DEPRECIATION
At 1 September 2023 26,993 105,752 132,745
Charge for year 7,590 21,399 28,989
At 31 August 2024 34,583 127,151 161,734
NET BOOK VALUE
At 31 August 2024 30,360 64,191 94,551
At 31 August 2023 37,950 85,590 123,540

STERLING HEATING LIMITED (REGISTERED NUMBER: 05217200)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023 16,258
Transfer to ownership (16,258 )
At 31 August 2024 -
DEPRECIATION
At 1 September 2023 12,400
Transfer to ownership (12,400 )
At 31 August 2024 -
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 3,858

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 21,774 62,432
Other debtors 62,895 10,400
84,669 72,832

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,310 10,055
Hire purchase contracts - 820
Trade creditors 22,862 55,560
Taxation and social security 9,284 5,219
Other creditors 87,223 112,525
129,679 184,179

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,909 18,219

STERLING HEATING LIMITED (REGISTERED NUMBER: 05217200)

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


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
Mr M.L. Beale
Balance outstanding at start of year - 23,243
Amounts advanced 54,221 -
Amounts repaid (27,065 ) (23,243 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,156 -

Mr A.L. Grimmett
Balance outstanding at start of year - 23,243
Amounts advanced 64,547 -
Amounts repaid (37,390 ) (23,243 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,157 -