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STERLING WEALTH & MORTGAGES LTD
 
 
Company Registration Number
13641079
 
 
Report of the Directors and
Unaudited Financial Statements
 
 
Period of accounts
 
Start date 01/06/2023
 
End date 31/05/2024
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 1
STERLING WEALTH & MORTGAGES LTD
 
Contents of the Financial Statements
for the Period Ended 31 May 2024
 
 
Page
Company Information 3
 
Report of the Directors 4
 
Profit and Loss Account 5
 
Balance Sheet 6 - 7
 
Notes to the Financial Statements 8 - 11
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 2
STERLING WEALTH & MORTGAGES LTD
Company Information
for the Period Ended 31 May 2024
 
Directors Robert Joseph NEWARK
Craig Gavin WYLLIE
 
 
Registered office 352-356 Battersea Park Road
London
SW11 3BY
 
Company Registration Number 13641079
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 3
STERLING WEALTH & MORTGAGES LTD
Directors Report
for the Period Ended 31 May 2024
The directors present their report with the financial statements of the company for the
period ended 31 May 2024
Principal activities
The principal activity of the company in the period under review was
Provison of mortgage and protection services to clients
Directors
The director(s) shown below have held office during the whole of the period
Robert Joseph NEWARK
Craig Gavin WYLLIE
Company policy on the employment of disabled persons
It is the companys policy to give employment to disabled persons wherever practicable.
Small Company Provisions
These accounts have been prepared in accordance with the provisions applicable to
companies subject to the small companies regime.
 
This report was approved by the board of directors on 2025-02-17
and signed on behalf of the board by
Name Craig Gavin WYLLIE
Status Director
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 4
STERLING WEALTH & MORTGAGES LTD
 
Profit and Loss Account
for the Period Ended 31 May 2024
2024 2,023
Notes £ £
 
Turnover 2 130,435 89,007
Cost of sales 162,932 82,380
______ ______
Gross Profit/(Loss) (32,497) 6,627
 
Administrative expenses 9,328 6,570
______ ______
Operating costs 9,328 6,570
 
______ ______
Operating Profit/(Loss) 3 (41,825) 57
______ ______
Profit/(Loss) on ordinary activities before taxation (41,825) 57
 
Tax on profit on ordinary activities 6 0 14
______ __
Profit/(Loss) for the financial period after taxation (41,825) 43
There were no recognised gains or losses other than the profit/(loss) shown attributable to the
shareholders for the period ended 31 May 2024
 
The notes form part of these financial statements
 
 
 
 
 
 
 
 
 
 
 
Page 5
STERLING WEALTH & MORTGAGES LTD
Balance Sheet
for the Period Ended 31 May 2024
Company registration number 13641079
2024 2,023
Notes £ £
Current assets
Stocks 8 57
Debtors 9 9,984 10,904
Cash at bank and in hand 9,931 49,654
_______ _______
Total current assets/(liabilities) 19,972 60,558
Creditors
Creditors - amounts falling
due within one year 10 4,753 5,514
_______ _______
Net current assets 15,219 55,044
_______ _______
Total assets less current liabilities 15,219 55,044
_______ _______
Creditors - amounts falling
due after more than one year 11 52,000 50,000
_______ _______
Long term creditors 52,000 50,000
______ ____
Net assets/(liabilities) (36,781) 5,044
Capital and reserves
Called up share capital 13 5,000 5,000
Profit and loss account 14 (41,781) 44
______ ____
Total shareholders funds (36,781) 5,044
 
 
 
 
 
 
 
 
 
 
 
Page 6
STERLING WEALTH & MORTGAGES LTD
 
Balance Sheet
for the Period Ended 31 May 2024
 
 
 
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
 
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.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
 
The financial statements were approved by the Board of Directors on 2025-02-17
 
SIGNED ON BEHALF OF THE BOARD BY
 
 
 
 
 
 
 
Name Craig Gavin WYLLIE
 
The notes form part of these financial statements
Average number of employees during period 0
 
 
 
 
 
 
 
 
 
Page 7
STERLING WEALTH & MORTGAGES LTD
Notes to the Financial Statements
for the Period Ended 31 May 2024
1. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime.
Going Concern
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
The turnover shown in the profit and loss account represents revenue earned during the period, inclusive of VAT.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 8
STERLING WEALTH & MORTGAGES LTD
Notes to the Financial Statements
for the Period Ended 31 May 2024
2. Turnover 2024 2,023
£ £
United Kingdom 130,435 89,007
______ _____
Total 130,435 89,007
3. Operating profit/(loss) 2024 2,023
Profit before tax as stated after charging the following £ £
4. Directors' remuneration 2024 2,023
£ £
Directors remuneration
Value of directors pension contributions
_ _
Total
The number of Directors accruing pension benefits was
5. Employees 2024 2,023
£ £
_ _
Total staff costs
6. Taxation
The tax charge on the profit on ordinary activities 2024 2,023
for the period was as follows £ £
UK Corporation Tax net of reliefs 14
_ __
Tax on profit on ordinary activities 0 14
7. Dividends 2024 2,023
£ £
Dividend on ordinary shares paid in period
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 9
STERLING WEALTH & MORTGAGES LTD
Notes to the Financial Statements
for the Period Ended 31 May 2024
8. Stocks 2024 2,023
Raw materials 57
Total 57 0
9. Debtors 2024 2,023
Other debtors 283
Prepayments and accrued income 9,984 10,621
____ _____
Total 9,984 10,904
10. Creditors amounts falling due within one year 2024 2,023
Trade creditors 1,845
Other taxation and social security 45
Accruals and deferred income 1,921 3,744
Other creditors 942 1,770
____ ____
Total 4,753 5,514
11. Creditors amounts falling due after more than one year 2024 2,023
Amounts owed to group undertakings 32,000 30,000
Other creditors 20,000 20,000
_____ _____
Total 52,000 50,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 10
STERLING WEALTH & MORTGAGES LTD
Notes to the Financial Statements
for the Period Ended 31 May 2024
12. Borrowings 2024 2,023
The following loans are included within creditors £ £
_ _
Total
13. Share capital 2024 2,023
Authorised type Par value £ £
Ordnary 1 5,000 5,000
____ ____
Total 5,000 5,000
Allotted, called up and paid £ £
Ordinary 5,000 5,000
____ ____
Total 5,000 5,000
14. Reserves/Retained profit
Retained profit reconciliation £
Reserves at 1 June 2023 44
Profit/(Loss) for year (41,825)
Dividends paid
______
Retained Profit/(Loss) at 31 May 2024 (41,781)
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 11