Company Registration No. 10780304 (England and Wales)
STERNE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
STERNE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
STERNE LIMITED
Company Registration No. 10780304
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
2,008
Investment properties
4
-
0
1,233,011
-
0
1,235,019
Current assets
Debtors
5
-
0
1,255
Cash at bank and in hand
217
156
217
1,411
Creditors: amounts falling due within one year
6
(2,627)
(1,425,592)
Net current liabilities
(2,410)
(1,424,181)
Net liabilities
(2,410)
(189,162)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(2,510)
(189,262)
Total equity
(2,410)
(189,162)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 25 March 2025
Y Zhang
Director
STERNE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

Sterne Limited is a private company limited by shares incorporated in England and Wales. The registered office is , The Old Rectory, Church Street, Weybridge, Surrey, KT13 8DE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The company ceased to trade on 30 September 2024 therefore the financial statements have been prepared

on the basis that the company is no longer a going concern.

1.3
Reporting period

The accounting reporting period has been extended to 30 September 2024.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for property rental provided in the normal course of business in relation to be that of buying and selling of own real estate and other letting and operating of own or leased real estate, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line
Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments
STERNE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

 

2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
4,015
Disposals
(4,015)
At 30 September 2024
-
0
Depreciation and impairment
At 1 April 2023
2,007
Depreciation charged in the Period
2,008
Eliminated in respect of disposals
(4,015)
At 30 September 2024
-
0
Carrying amount
At 30 September 2024
-
0
At 31 March 2023
2,008
STERNE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 4 -
4
Investment property
2024
£
Fair value
At 1 April 2023
1,233,011
Disposals
(1,233,011)
At 30 September 2024
-
0
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
-
0
1,255
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
30
Other creditors
2,627
1,425,562
2,627
1,425,592
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
8
Related party transactions

At the balance sheet date, the company owed £nil (2023: £74,120) to Ruyi Investments Limited, a connected company.

9
Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking Ruyi Investment Limited. Ruyi Investment Limited was incorporated in England and Wales. The ultimate controlling party is who controls 100% of the shares of Sterne Limited.

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