1 1 Sterling Estates Group Ltd 13997691 false 2023-04-01 2024-03-30 2024-03-30 The principal activity of the company is Other letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true 13997691 2023-04-01 2024-03-30 13997691 2024-03-30 13997691 core:CurrentFinancialInstruments 2024-03-30 13997691 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-30 13997691 core:Non-currentFinancialInstruments 2024-03-30 13997691 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-30 13997691 core:LandBuildings 2024-03-30 13997691 bus:SmallEntities 2023-04-01 2024-03-30 13997691 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-30 13997691 bus:FilletedAccounts 2023-04-01 2024-03-30 13997691 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-30 13997691 bus:RegisteredOffice 2023-04-01 2024-03-30 13997691 bus:Director1 2023-04-01 2024-03-30 13997691 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-30 13997691 bus:Agent1 2023-04-01 2024-03-30 13997691 core:LandBuildings 2023-04-01 2024-03-30 13997691 core:PlantMachinery 2023-04-01 2024-03-30 13997691 countries:UnitedKingdom 2023-04-01 2024-03-30 13997691 2023-03-31 13997691 core:LandBuildings 2023-03-31 13997691 2022-04-01 2023-03-31 13997691 2023-03-31 13997691 core:CurrentFinancialInstruments 2023-03-31 13997691 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13997691 core:Non-currentFinancialInstruments 2023-03-31 13997691 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 13997691 core:LandBuildings 2023-03-31 xbrli:pure iso4217:GBP

Registration number: 13997691

Sterling Estates Group Ltd

Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 30 March 2024

 

Sterling Estates Group Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Sterling Estates Group Ltd

Company Information

Director




 

A A Sbuttoni

Registered office








 

158 Stafford Road
Wallington
Surrey
SM6 9BS

Accountants

A S Partnership Ltd
Chartered Certified Accountants158 Stafford Road
Wallington
Surrey
SM6 9BS

 

Sterling Estates Group Ltd

(Registration number: 13997691)
Balance Sheet as at 30 March 2024

Note

2024
£

2023
£

           

Fixed Assets

   

 

Tangible Assets

4

 

2,203,914

 

1,104,301

Current assets

   

 

Cash at bank and in hand

 

16,466

 

19,501

 

Creditors: Amounts falling due within one year

5

(472,218)

 

(205,312)

 

Net current liabilities

   

(455,752)

 

(185,811)

Total assets less current liabilities

   

1,748,162

 

918,490

Creditors: Amounts falling due after more than one year

5

 

(1,783,451)

 

(904,298)

Net (liabilities)/assets

   

(35,289)

 

14,192

Capital and reserves

   

 

Called up share capital

6

100

 

100

 

Retained earnings

(35,389)

 

14,092

 

Shareholders' (deficit)/funds

   

(35,289)

 

14,192

For the financial period ending 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

As permitted by s444A and s444(5A) of the Companies Act 2006, the directors have not delivered to the Registrar a copy of the directors report, profit and loss account and associated notes.

Director's responsibilities:

 

Sterling Estates Group Ltd

(Registration number: 13997691)
Balance Sheet as at 30 March 2024

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the director on 3 April 2025
 

.........................................
A A Sbuttoni
Director

 

Sterling Estates Group Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
158 Stafford Road
Wallington
Surrey
SM6 9BS

These financial statements were authorised for issue by the director on 3 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Sterling Estates Group Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Sterling Estates Group Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

 

Sterling Estates Group Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

4

Tangible Assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2023

1,104,301

1,104,301

Additions

1,099,613

1,099,613

At 30 March 2024

2,203,914

2,203,914

Depreciation

Carrying amount

At 30 March 2024

2,203,914

2,203,914

At 31 March 2023

1,104,301

1,104,301

Included within the net book value of land and buildings above is £2,203,914 (2023 - £1,104,301) in respect of freehold land and buildings.
 

 

Sterling Estates Group Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

20,506

20,506

Directors' loan accounts

430,431

180,475

Other payables

 

15,120

-

Accruals

 

2,855

1,025

Corporation tax control

3,306

3,306

 

472,218

205,312

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

1,783,451

904,298

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Sterling Estates Group Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 30 March 2024

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,783,451

904,298

Current loans and borrowings

2024
£

2023
£

Other borrowings

20,506

20,506

8

Dividends

Interim dividends paid

 

2024
£

2023
£

Interim dividend

-

-