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STERLING ENTERPRISES UK LIMITED

Registered Number
06817646
(England and Wales)

Unaudited Financial Statements for the Year ended
27 February 2024

STERLING ENTERPRISES UK LIMITED
Company Information
for the year from 28 February 2023 to 27 February 2024

Directors

Fouzia Mirwais
Farhad Mullahzada

Registered Address

49 Greenwich Church Street
London
SE10 9BL

Registered Number

06817646 (England and Wales)
STERLING ENTERPRISES UK LIMITED
Balance Sheet as at
27 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets341,65350,367
41,65350,367
Current assets
Debtors4162,028324,535
Cash at bank and on hand30,29342,007
192,321366,542
Creditors amounts falling due within one year5(144,283)(409,335)
Net current assets (liabilities)48,038(42,793)
Total assets less current liabilities89,6917,574
Creditors amounts falling due after one year6(24,116)(34,093)
Net assets65,575(26,519)
Capital and reserves
Called up share capital22
Profit and loss account65,573(26,521)
Shareholders' funds65,575(26,519)
The financial statements were approved and authorised for issue by the Board of Directors on 8 November 2024, and are signed on its behalf by:
Farhad Mullahzada
Director
Registered Company No. 06817646
STERLING ENTERPRISES UK LIMITED
Notes to the Financial Statements
for the year ended 27 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Leasehold land and buildings: Over the lease term

Reducing balance (%)Straight line (years)
Land and buildings-10
Plant and machinery25-
Office Equipment25-
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 28 February 23145,352
At 27 February 24145,352
Depreciation and impairment
At 28 February 2394,986
Charge for year8,713
At 27 February 24103,699
Net book value
At 27 February 2441,653
At 27 February 2350,367
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables765166,850
Other debtors111,887120,688
Prepayments and accrued income49,37636,997
Total162,028324,535
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables119,584370,790
Amounts owed to related parties1,3531,353
Taxation and social security21,14634,992
Accrued liabilities and deferred income2,2002,200
Total144,283409,335
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts24,11634,093
Total24,11634,093