Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 13158319 J Sterling W Sterling B Sterling T Sterling true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13158319 2023-05-31 13158319 2024-05-31 13158319 2023-06-01 2024-05-31 13158319 frs-core:CurrentFinancialInstruments 2024-05-31 13158319 frs-core:Non-currentFinancialInstruments 2024-05-31 13158319 frs-core:ShareCapital 2024-05-31 13158319 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 13158319 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 13158319 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 13158319 frs-bus:SmallEntities 2023-06-01 2024-05-31 13158319 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 13158319 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 13158319 frs-bus:OrdinaryShareClass1 2023-06-01 2024-05-31 13158319 frs-bus:OrdinaryShareClass1 2024-05-31 13158319 1 2023-06-01 2024-05-31 13158319 frs-bus:Director1 2023-06-01 2024-05-31 13158319 frs-bus:Director2 2023-06-01 2024-05-31 13158319 frs-bus:Director3 2023-06-01 2024-05-31 13158319 frs-bus:Director4 2023-06-01 2024-05-31 13158319 frs-countries:EnglandWales 2023-06-01 2024-05-31 13158319 2022-05-31 13158319 2023-05-31 13158319 2022-06-01 2023-05-31 13158319 frs-core:CurrentFinancialInstruments 2023-05-31 13158319 frs-core:Non-currentFinancialInstruments 2023-05-31 13158319 frs-core:ShareCapital 2023-05-31 13158319 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 13158319 frs-bus:OrdinaryShareClass1 2022-06-01 2023-05-31
Registered number: 13158319
Sterling Capital Investment Properties Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors J Sterling
W Sterling
B Sterling
T Sterling
Company Number 13158319
Registered Office SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
Accountants Sterling Accounting Solutions Ltd
Chartered Accountants
SAS House
Chipperfield Road
Kings Langley
Hertfordshire
WD4 9JB
Page 1
Page 2
Statement of Financial Position
Registered number: 13158319
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 1,285,000 1,255,000
1,285,000 1,255,000
CURRENT ASSETS
Debtors 5 250 250
Cash at bank and in hand 5,231 2,400
5,481 2,650
Creditors: Amounts Falling Due Within One Year 6 (375,710 ) (380,900 )
NET CURRENT ASSETS (LIABILITIES) (370,229 ) (378,250 )
TOTAL ASSETS LESS CURRENT LIABILITIES 914,771 876,750
Creditors: Amounts Falling Due After More Than One Year 7 (780,652 ) (780,652 )
NET ASSETS 134,119 96,098
CAPITAL AND RESERVES
Called up share capital 9 1 1
Income Statement 134,118 96,097
SHAREHOLDERS' FUNDS 134,119 96,098
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For the year ending 31 May 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
W Sterling
Director
26/02/2025
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Sterling Capital Investment Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13158319 . The registered office is SAS House, Chipperfield Road, Kings Langley, Hertfordshire, WD4 9JB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rents or the sale of properties in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.4. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Investment Property
2024
£
Fair Value
As at 1 June 2023 1,255,000
Revaluations 30,000
As at 31 May 2024 1,285,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 1,113,760 1,113,760
5. Debtors
2024 2023
£ £
Due within one year
Directors' loan accounts 250 250
The amount owed by the director is tax free and repayable on demand.
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 900 1,000
Other creditors 374,810 379,900
375,710 380,900
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 780,652 780,652
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8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 779,052 780,652
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 0.01 each 1 1
10. Related Party Transactions
Included in creditors was an amount of £374,810 (2023: £379,900) owed to a company under common control.
11. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Sterling Capital Investors Limited. There is no ultimate controlling party.
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