Company No: 11338774 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Investments	3	4,321,505		4,321,505
		4,321,505		4,321,505
Creditors: amounts falling due within one year	4	( 663,682)		( 626,175)
Net current liabilities		(663,682)		(626,175)
Total assets less current liabilities		3,657,823		3,695,330
Net assets		3,657,823		3,695,330
Capital and reserves
Called-up share capital	5	77		100
Capital redemption reserve		23		0
Profit and loss account		3,657,723		3,695,230
Total shareholders' funds		3,657,823		3,695,330

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Sterling Capital Holdings Ltd (registered number: 11338774) were approved and authorised for issue by the Board of Directors on 27 March 2025. They were signed on its behalf by:

F A Cannon Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sterling Capital Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hanover House The Square, Lower Bristol Road, Bath, BA2 3BH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 October 2023	4,321,505
At 30 September 2024	4,321,505
Carrying value at 30 September 2024	4,321,505
Carrying value at 30 September 2023	4,321,505

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 30.09.2024	Ownership 30.09.2023
Sterling Capital Asset Finance Limited	Hanover House The Square, Lower Bristol Road, Bath, BA2 3BH	Commercial asset funding and financial brokerage	Ordinary	100.00%	100.00%

4. Creditors: amounts falling due within one year

	2024		2023
	£		£
Amounts owed to Group undertakings	4,911		26
Amounts owed to directors	625,000		625,000
Accruals	33,771		1,149
	663,682		626,175

5. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
49 A Ordinary shares of £ 1.00 each	49		49
28 B Ordinary shares of £ 1.00 each (2023: 51 shares of £ 1.00 each)	28		51
	77		100

On 13 December 2023 the company passed a special resolution to reduce the capital of the company. The share capital was reduced by £23 comprising 23 B Ordinary shares.

6. Related party transactions

At the year end, the directors were owed £625,000 (2023: £625,000) by the company. Interest has been charged. There is no fixed date for repayment.

At the year end, an amount of £4,911 (2023: £26) is owed to a subsidiary company. The loan is interest free and has no fixed date for repayment.