STERLING FINANCIAL MANAGEMENT LTD


Director	BROWNLEE, Fiona Elizabeth


Company Secretary	BROWNLEE, Fiona Elizabeth


Registered Address	Broxmore
	Cliftonville
	Dorking
	RH4 2JF


Registered Number	09780783 (England and Wales)

Balance Sheet as at
30 September 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	3		50		50
Tangible assets	4		383		1,061
			433		1,111
Current assets
Debtors		16,938		15,645
Cash at bank and on hand		7,411		20,461
		24,349		36,106
Creditors amounts falling due within one year	5	(18,277)		(23,299)
Net current assets (liabilities)			6,072		12,807
Total assets less current liabilities			6,505		13,918
Creditors amounts falling due after one year	6		(5,021)		(12,345)
Net assets			1,484		1,573
Capital and reserves
Called up share capital			100		100
Profit and loss account			1,384		1,473
Shareholders' funds			1,484		1,573

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 5 May 2025, and are signed on its behalf by:

BROWNLEE, Fiona Elizabeth
Director
Registered Company No. 09780783

STERLING FINANCIAL MANAGEMENT LTD

Notes to the Financial Statements
for the year ended 30 September 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The accounts have been prepared on a going concern basis.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	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.

Deferred tax

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.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	3
	Office Equipment	3

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 October 23	50	50
At 30 September 24	50	50
Net book value
At 30 September 24	50	50
At 30 September 23	50	50

4.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 October 23	5,039	5,039
At 30 September 24	5,039	5,039
Depreciation and impairment
At 01 October 23	3,978	3,978
Charge for year	678	678
At 30 September 24	4,656	4,656
Net book value
At 30 September 24	383	383
At 30 September 23	1,061	1,061

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	956	1,134
Bank borrowings and overdrafts	10,516	12,936
Taxation and social security	5,818	7,521
Other creditors	987	1,708
Total	18,277	23,299


	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.

6.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	5,021	12,345
Total	5,021	12,345