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REGISTERED NUMBER: 08477118 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 April 2024

for

H STERLING DEVELOPMENTS LTD

H STERLING DEVELOPMENTS LTD (REGISTERED NUMBER: 08477118)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


H STERLING DEVELOPMENTS LTD

Company Information
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Z Hanif
M Hanif





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 08477118 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

H STERLING DEVELOPMENTS LTD (REGISTERED NUMBER: 08477118)

Balance Sheet
30 APRIL 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investments 4 85,025 85,025
Investment property 5 800,000 400,000
885,025 485,025

CURRENT ASSETS
Debtors 6 1,534,478 1,716,757
Cash at bank 8,133 -
1,542,611 1,716,757
CREDITORS
Amounts falling due within one year 7 1,303,427 1,400,900
NET CURRENT ASSETS 239,184 315,857
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,124,209

800,882

CREDITORS
Amounts falling due after more than one year 8 (24,249 ) -

PROVISIONS FOR LIABILITIES 9 (86,798 ) (21,316 )
NET ASSETS 1,013,162 779,566

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 260,392 90,874
Retained earnings 752,670 688,592
SHAREHOLDERS' FUNDS 1,013,162 779,566

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

H STERLING DEVELOPMENTS LTD (REGISTERED NUMBER: 08477118)

Balance Sheet - continued
30 APRIL 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:





Z Hanif - Director


H STERLING DEVELOPMENTS LTD (REGISTERED NUMBER: 08477118)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

H Sterling Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable from the sales of property.

Revenue comprises rental income derived from the leasing of properties under operating leases. Revenue is recognized in the profit and loss account on an accrual basis, in accordance with the terms of the rental agreements. Revenue is measured net of Value Added Tax and other sales-related taxes. Rental income received in advance is recognised as deferred income, and rental income due but unpaid is recognised as a receivable, net of any provision for doubtful debts. Contingent rents are recognised when the relevant event or condition occurs.

Investment property
Investment property, which is property held to earn rentals or for capital appreciation or both, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure such as legal fees, property transfer taxes, and other transaction costs.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in revaluation reserve in balance sheet..

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


H STERLING DEVELOPMENTS LTD (REGISTERED NUMBER: 08477118)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023
and 30 April 2024 85,025
NET BOOK VALUE
At 30 April 2024 85,025
At 30 April 2023 85,025

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 400,000
Additions 165,000
Revaluations 235,000
At 30 April 2024 800,000
NET BOOK VALUE
At 30 April 2024 800,000
At 30 April 2023 400,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2023 112,190
Valuation in 2024 235,000
Cost 452,810
800,000

H STERLING DEVELOPMENTS LTD (REGISTERED NUMBER: 08477118)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 452,810 287,810

Investment property was valued on an open market basis on 30 April 2024 by directors. .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by connected companies 1,224,631 1,253,181
Other debtors 291,852 436,500
Directors' current accounts 17,995 27,076
1,534,478 1,716,757

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 56,863
Amounts owed to connected companies 876,878 912,701
Tax 21,678 27,843
Social security and other taxes - 4,842
Other creditors 391,686 391,686
Accrued expenses 3,185 6,965
1,303,427 1,400,900

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 -
Bank loans - 2-5 years 14,249 -
24,249 -

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 86,798 21,316

Deferred
tax
£   
Balance at 1 May 2023 21,316
Provided during year 65,482
Balance at 30 April 2024 86,798

H STERLING DEVELOPMENTS LTD (REGISTERED NUMBER: 08477118)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

10. RESERVES
Revaluation
reserve
£   
At 1 May 2023 90,874
Revaluation 169,518

At 30 April 2024 260,392

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Z Hanif
Balance outstanding at start of year 27,076 (81 )
Amounts advanced 215,919 85,050
Amounts repaid (225,000 ) (57,893 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,995 27,076

Interest of £ 590 was charged at the official interest rate of 2.25% on the overdrawn loan amount.

12. RELATED PARTY DISCLOSURES

Included in creditors, amount falling due within one year, is an amount of £876,878 (2023: £912,701) owed to a connected companies.

Included in debtors, amount falling due within one year, is an amount of £1,224,631 (2023: £1,253,181 ) owed from connected companies.

These loans are interest free and repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking of the company is Sterling Holdings Group Limited. The ultimate controlling party are the shareholders of Sterling Holdings Group Limited by virtue of their holdings in the parent undertaking.