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REGISTERED NUMBER: 06974542 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Sterling Partners Limited

Sterling Partners Limited (Registered number: 06974542)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Sterling Partners Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mr M S Seyed Mokhtassi B.Sc. F.C.A. CTA





REGISTERED OFFICE: 2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR





REGISTERED NUMBER: 06974542 (England and Wales)





ACCOUNTANTS: Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR

Sterling Partners Limited (Registered number: 06974542)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 10,000 6,240
Tangible assets 5 409,993 416,535
Investments 6 296,375 296,375
716,368 719,150

CURRENT ASSETS
Work in progress 7 86,010 38,749
Debtors 8 246,526 265,528
Cash at bank and in hand 16,584 79,868
349,120 384,145
CREDITORS
Amounts falling due within one year 9 (325,161 ) (372,432 )
NET CURRENT ASSETS 23,959 11,713
TOTAL ASSETS LESS CURRENT
LIABILITIES

740,327

730,863

CREDITORS
Amounts falling due after more than one year 10 (347,771 ) (388,925 )

PROVISIONS FOR LIABILITIES (5,479 ) (4,011 )
NET ASSETS 387,077 337,927

CAPITAL AND RESERVES
Called up share capital 1,140 1,140
Retained earnings 385,937 336,787
SHAREHOLDERS' FUNDS 387,077 337,927

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Partners Limited (Registered number: 06974542)

Balance Sheet - continued
30 April 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 director and authorised for issue on 31 January 2025 and were signed by:





Mr M S Seyed Mokhtassi B.Sc. F.C.A. CTA - Director


Sterling Partners Limited (Registered number: 06974542)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Sterling Partners 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 invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% on reducing balance

Work in progress
Work in progress is valued at the lower of cost and net realisable value on work performed during the period.

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 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.

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

Sterling Partners Limited (Registered number: 06974542)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023 331,000
Additions 10,000
At 30 April 2024 341,000
AMORTISATION
At 1 May 2023 324,760
Charge for year 6,240
At 30 April 2024 331,000
NET BOOK VALUE
At 30 April 2024 10,000
At 30 April 2023 6,240

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 422,927 20,373 55,470 63,930 562,700
Additions - - 420 798 1,218
At 30 April 2024 422,927 20,373 55,890 64,728 563,918
DEPRECIATION
At 1 May 2023 50,754 15,740 33,406 46,265 146,165
Charge for year - 695 3,372 3,693 7,760
At 30 April 2024 50,754 16,435 36,778 49,958 153,925
NET BOOK VALUE
At 30 April 2024 372,173 3,938 19,112 14,770 409,993
At 30 April 2023 372,173 4,633 22,064 17,665 416,535

Sterling Partners Limited (Registered number: 06974542)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 296,375
NET BOOK VALUE
At 30 April 2024 296,375
At 30 April 2023 296,375

7. WORK IN PROGRESS
2024 2023
£    £   
Work-in-progress 86,010 38,749

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 242,806 255,161
Investment for Car - 5,000
Inter-company (45,209 ) (42,551 )
Loan to Yahya Mokhtassi 2,600 2,600
Prepayments 46,329 45,318
246,526 265,528

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 70,187 186,867
Tax 156,386 68,331
Social security and other taxes 10,596 6,744
VAT 47,091 62,110
Bad debt provision 33,000 20,649
Accrued expenses 7,901 27,731
325,161 372,432

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 42,089 29,585
Bank loans - 2-5 years 61,265 83,769
Bank loans more 5 yr by instal 128,281 138,685
Net wages due 160 175
Clients payments on Account 113,016 131,160
Directors' loan accounts 2,960 5,551
347,771 388,925

Sterling Partners Limited (Registered number: 06974542)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 128,281 138,685

11. OTHER FINANCIAL COMMITMENTS

The company had outstanding commitments in respect of operating leases as at 30th April 2024 of 78,171 (April 23 £96,839).

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr M S Seyed Mokhtassi B.Sc. F.C.A. CTA
Balance outstanding at start of year 5,551 3,952
Amounts advanced (47,591 ) (58,401 )
Amounts repaid 45,000 60,000
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,960 5,551

13. RELATED PARTY DISCLOSURES

Within Inter-Company balance of -£45,209 (2023 -£24,551 ) there are balances due from/to companies with common directorship or ownership , Plusbooks Limited -£46,209 ( (2023 -£24,551). Sterling IT Pros Ltd £1,000 (Nil 2023).

14. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M S Seyed Mokhtassi B.Sc. F.C.A. CTA.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Sterling Partners 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.

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 Partners Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet 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 director of Sterling Partners Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sterling Partners Limited and state those matters that we have agreed to state to the director of Sterling Partners Limited 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 Partners Limited and its director for our work or for this report.

It is your duty to ensure that Sterling Partners 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 Partners Limited. You consider that Sterling Partners 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 Partners 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.






Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR


Date: .............................................