Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-300false2023-07-01falseProperty investment and Development of building projects.0falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11108488 2023-07-01 2024-06-30 11108488 2022-07-01 2023-06-30 11108488 2024-06-30 11108488 2023-06-30 11108488 2022-07-01 11108488 c:Director1 2023-07-01 2024-06-30 11108488 d:Buildings 2023-07-01 2024-06-30 11108488 d:Buildings 2024-06-30 11108488 d:Buildings 2023-06-30 11108488 d:LandBuildings 2024-06-30 11108488 d:LandBuildings 2023-06-30 11108488 d:CurrentFinancialInstruments 2024-06-30 11108488 d:CurrentFinancialInstruments 2023-06-30 11108488 d:Non-currentFinancialInstruments 2024-06-30 11108488 d:Non-currentFinancialInstruments 2023-06-30 11108488 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 11108488 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 11108488 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 11108488 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 11108488 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 11108488 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 11108488 d:ShareCapital 2024-06-30 11108488 d:ShareCapital 2023-06-30 11108488 d:ShareCapital 2022-07-01 11108488 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 11108488 d:RetainedEarningsAccumulatedLosses 2024-06-30 11108488 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 11108488 d:RetainedEarningsAccumulatedLosses 2023-06-30 11108488 d:RetainedEarningsAccumulatedLosses 2022-07-01 11108488 c:FRS102 2023-07-01 2024-06-30 11108488 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 11108488 c:FullAccounts 2023-07-01 2024-06-30 11108488 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11108488 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 11108488









STERLINGBRIDGE PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
STERLINGBRIDGE PROPERTIES LIMITED
 
 
  
ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STERLINGBRIDGE PROPERTIES LIMITED
FOR THE YEAR ENDED 30 JUNE 2024

You consider that the Company is exempt from an audit for the year ended 30 June 2024. You have acknowledged, on the Balance sheet, your responsibilities for ensuring that the Company keeps adequate accounting records which comply with section 386 of the Companies Act 2006, and for preparing the financial statements which give a true and fair view of the state of affairs of the Company and of its profit or loss for the financial year.

In accordance with your instructions, I have prepared the financial statements on pages 9 from the accounting records of the Company and on the basis of information and explanations you have given to me.

I have not carried out an audit or any other review, and consequently I do not express any opinion on these financial statements.

  



Eclipse Consultancy Limited
 
The Courtyard
14A Sydenham Road
Croydon
CR0 2EE
12 March 2025
Page 1

 
STERLINGBRIDGE PROPERTIES LIMITED
REGISTERED NUMBER: 11108488

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
32,100,624
31,372,597

  
32,100,624
31,372,597

Current assets
  

Debtors: amounts falling due within one year
 6 
1,071,125
1,023,640

Cash at bank and in hand
 7 
43,768
277,828

  
1,114,893
1,301,468

Creditors: amounts falling due within one year
 8 
(6,871,713)
(2,283,342)

Net current liabilities
  
 
 
(5,756,820)
 
 
(981,874)

Total assets less current liabilities
  
26,343,804
30,390,723

Creditors: amounts falling due after more than one year
 9 
(16,756,834)
(20,232,362)

  

Net assets
  
9,586,970
10,158,361


Capital and reserves
  

Called up share capital 
  
9,703,788
9,703,788

Profit and loss account
  
(116,818)
454,573

  
9,586,970
10,158,361


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 March 2025.

Page 2

 
STERLINGBRIDGE PROPERTIES LIMITED
REGISTERED NUMBER: 11108488
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024




................................................
Chetan Vinodrai Shukla
Director

The notes on pages 5 to 9 form part of these financial statements.

Page 3

 

 
STERLINGBRIDGE PROPERTIES LIMITED


 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024



Called up share capital
Profit and loss account
Total equity


£
£
£



At 1 July 2022
9,703,788
685,543
10,389,331





Loss for the year
-
(230,970)
(230,970)





At 1 July 2023
9,703,788
454,573
10,158,361





Loss for the year
-
(571,391)
(571,391)



At 30 June 2024
9,703,788
(116,818)
9,586,970



The notes on pages 5 to 9 form part of these financial statements.

Page 4

 
STERLINGBRIDGE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Sterlingbridge Properties Limited is a private company limited by shares and incorporated in England. Its registered office is: 
106 Lower Addiscombe Road 
Croydon
Surrey 
CR0 6AD

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 5

 
STERLINGBRIDGE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

  
2.5


The additions represents the capital expenditure incurred on various sites. The principal development completed after the year end and so their fair value will be considered after that date.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

Page 6

 
STERLINGBRIDGE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 July 2023
31,372,597


Additions
728,027



At 30 June 2024

32,100,624






Net book value



At 30 June 2024
32,100,624



At 30 June 2023
31,372,597




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
32,100,623
31,372,597

32,100,623
31,372,597



5.



The additions represents the development costs of 5 sites that were completed after the year-end. The fair value will be considered after that date.


6.


Debtors

2024
2023
£
£


Trade debtors
56,896
107,924

Amounts owed by group undertakings
620,556
501,280

Other debtors
262,000
203,100

Prepayments and accrued income
131,673
211,336

1,071,125
1,023,640


Page 7

 
STERLINGBRIDGE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
43,768
277,828

43,768
277,828



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,938
31,106

Amounts owed to group undertakings
6,632,399
2,077,552

Other creditors
99,319
93,846

Accruals and deferred income
122,057
80,838

6,871,713
2,283,342



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
8,505,503
8,566,764

Amounts owed to group undertakings
8,251,331
11,665,598

16,756,834
20,232,362



10.


Loans


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
8,505,503
8,566,764

8,505,503
8,566,764

There is a fixed charge and a negative pledge on some of the assets of this company.
8,505,503
8,566,764


Page 8

 
STERLINGBRIDGE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Controlling party

The immediate parent undertaking is Sterling Property Group Limited who owns 100% shareholding of Sterlingbridge Properties Limited. The registered office is 106 Lower Addiscombe Road, Croydon, Surrey, CR0 6AD.

 
Page 9