STERLING WEALTH & MORTGAGES LTD |
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Directors Report |
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for the Period Ended 31 May 2024 |
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The directors present their report with the financial statements of the company for the |
period ended 31 May 2024 |
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Principal activities |
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The principal activity of the company in the period under review was |
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Provison of mortgage and protection services to clients |
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Directors |
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The director(s) shown below have held office during the whole of the period |
Robert Joseph NEWARK |
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Craig Gavin WYLLIE |
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Company policy on the employment of disabled persons |
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It is the companys policy to give employment to disabled persons wherever practicable. |
Small Company Provisions |
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These accounts have been prepared in accordance with the provisions applicable to |
companies subject to the small companies regime. |
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This report was approved by the board of directors on |
2025-02-17 |
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and signed on behalf of the board by |
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Name |
Craig Gavin WYLLIE |
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Status |
Director |
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Page 4 |
STERLING WEALTH & MORTGAGES LTD |
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Balance Sheet |
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for the Period Ended 31 May 2024 |
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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The financial statements were approved by the Board of Directors on |
2025-02-17 |
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SIGNED ON BEHALF OF THE BOARD BY |
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Name |
Craig Gavin WYLLIE |
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The notes form part of these financial statements |
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Average number of employees during period |
0 |
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Page 7 |
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STERLING WEALTH & MORTGAGES LTD |
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Notes to the Financial Statements |
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for the Period Ended 31 May 2024 |
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1. Accounting policies |
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Basis of preparation |
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The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime. |
Going Concern |
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The company has a deficit on shareholders' funds and relies upon the support of its shareholders and creditors,which has been confirmed for a period of at least twelve months from the approval of the financial statements.Accordingly the directors have prepared the financial statements on the going concern basis. |
Turnover |
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The turnover shown in the profit and loss account represents revenue earned during the period, inclusive of VAT. |
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Page 8 |
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STERLING WEALTH & MORTGAGES LTD |
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Notes to the Financial Statements |
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for the Period Ended 31 May 2024 |
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2. Turnover |
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2024 |
2,023 |
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United Kingdom |
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130,435 |
89,007 |
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Total |
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130,435 |
89,007 |
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3. Operating profit/(loss) |
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2024 |
2,023 |
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Profit before tax as stated after charging the following |
£ |
£ |
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4. Directors' remuneration |
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2024 |
2,023 |
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£ |
£ |
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Directors remuneration |
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Value of directors pension contributions |
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_ |
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Total |
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The number of Directors accruing pension benefits was |
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5. Employees |
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2024 |
2,023 |
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£ |
£ |
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Total staff costs |
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6. Taxation |
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The tax charge on the profit on ordinary activities |
2024 |
2,023 |
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for the period was as follows |
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£ |
£ |
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UK Corporation Tax net of reliefs |
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14 |
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Tax on profit on ordinary activities |
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0 |
14 |
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7. Dividends |
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2024 |
2,023 |
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£ |
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Dividend on ordinary shares paid in period |
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Page 9 |
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STERLING WEALTH & MORTGAGES LTD |
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Notes to the Financial Statements |
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for the Period Ended 31 May 2024 |
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8. Stocks |
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2024 |
2,023 |
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Raw materials |
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57 |
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Total |
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57 |
0 |
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9. Debtors |
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2024 |
2,023 |
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Other debtors |
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283 |
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Prepayments and accrued income |
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9,984 |
10,621 |
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Total |
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9,984 |
10,904 |
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10. Creditors amounts falling due within one year |
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2024 |
2,023 |
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Trade creditors |
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1,845 |
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Other taxation and social security |
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45 |
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Accruals and deferred income |
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1,921 |
3,744 |
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Other creditors |
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942 |
1,770 |
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Total |
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4,753 |
5,514 |
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11. Creditors amounts falling due after more than one year |
2024 |
2,023 |
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Amounts owed to group undertakings |
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32,000 |
30,000 |
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Other creditors |
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20,000 |
20,000 |
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Total |
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52,000 |
50,000 |
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Page 10 |
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