Acorah Software Products - Accounts Production 16.2.850 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 06259731 Mr Kiran Chohan Mrs Tina Chohan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06259731 2023-05-31 06259731 2024-05-31 06259731 2023-06-01 2024-05-31 06259731 frs-core:CurrentFinancialInstruments 2024-05-31 06259731 frs-core:Non-currentFinancialInstruments 2024-05-31 06259731 frs-core:PlantMachinery 2024-05-31 06259731 frs-core:PlantMachinery 2023-06-01 2024-05-31 06259731 frs-core:PlantMachinery 2023-05-31 06259731 frs-core:ShareCapital 2024-05-31 06259731 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 06259731 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06259731 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 06259731 frs-bus:SmallEntities 2023-06-01 2024-05-31 06259731 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 06259731 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 06259731 frs-bus:Director1 2023-06-01 2024-05-31 06259731 frs-bus:Director2 2023-06-01 2024-05-31 06259731 frs-countries:EnglandWales 2023-06-01 2024-05-31 06259731 2022-05-31 06259731 2023-05-31 06259731 2022-06-01 2023-05-31 06259731 frs-core:CurrentFinancialInstruments 2023-05-31 06259731 frs-core:Non-currentFinancialInstruments 2023-05-31 06259731 frs-core:ShareCapital 2023-05-31 06259731 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 06259731
STERLING-K LTD
Financial Statements
For The Year Ended 31 May 2024
MSA Accountancy & Business Advisors
Business Box- Unit 49
3 Oswin Road
Leicester
Leicestershire
LE3 1HR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06259731
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,381 16,508
12,381 16,508
CURRENT ASSETS
Stocks 5 21,363 31,887
Debtors 6 338,768 240,207
Cash at bank and in hand 643,693 378,827
1,003,824 650,921
Creditors: Amounts Falling Due Within One Year 7 (335,154 ) (273,945 )
NET CURRENT ASSETS (LIABILITIES) 668,670 376,976
TOTAL ASSETS LESS CURRENT LIABILITIES 681,051 393,484
Creditors: Amounts Falling Due After More Than One Year 8 (23,333 ) (33,333 )
NET ASSETS 657,718 360,151
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 657,618 360,051
SHAREHOLDERS' FUNDS 657,718 360,151
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kiran Chohan
Director
30/04/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
STERLING-K LTD is a private company, limited by shares, incorporated in England & Wales, registered number 06259731 . The registered office is Sterling-K House, 12 Well Street, Birmingham, West Midlands, B19 3BH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.8. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 6)
10 6
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 June 2023 189,264
As at 31 May 2024 189,264
Depreciation
As at 1 June 2023 172,756
Provided during the period 4,127
As at 31 May 2024 176,883
Net Book Value
As at 31 May 2024 12,381
As at 1 June 2023 16,508
5. Stocks
2024 2023
£ £
Stock 21,363 31,887
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 229,206 144,533
Other debtors 109,562 95,674
338,768 240,207
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 12,471 16,052
Corporation tax 197,667 100,460
Other taxes and social security 41,436 52,679
Accruals and deferred income 83,580 104,754
335,154 273,945
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 23,333 33,333
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5