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REGISTERED NUMBER: 02481273 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Sterling, Bolt and Nut Company Limited

Sterling, Bolt and Nut Company Limited (Registered number: 02481273)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Statement of financial position 1 to 2

Notes to the financial statements 3 to 6


Sterling, Bolt and Nut Company Limited (Registered number: 02481273)

Statement of Financial Position
31 July 2024

2024 2023
Notes £    £    £   
Fixed assets
Intangible assets 5 - -
Tangible assets 6 40,477 36,364
40,477 36,364

Current assets
Stocks 7 235,880 211,322
Debtors 8 124,190 127,204
Cash at bank and in hand 129,725 154,090
489,795 492,616
Creditors
Amounts falling due within one year 9 147,105 165,293
Net current assets 342,690 327,323
Total assets less current liabilities 383,167 363,687

Creditors
Amounts falling due after more than one
year

10

(9,499

)

(19,623

)

Provisions for liabilities (2,718 ) (2,131 )
Net assets 370,950 341,933

Capital and reserves
Called up share capital 12 502 502
Capital redemption reserve 498 498
Retained earnings 369,950 340,933
Shareholders' funds 370,950 341,933

Sterling, Bolt and Nut Company Limited (Registered number: 02481273)

Statement of Financial Position - continued
31 July 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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:




P Beverley - Director



Mrs D Beverley - Director


Sterling, Bolt and Nut Company Limited (Registered number: 02481273)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. Statutory information

Sterling, Bolt and Nut Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02481273

Registered office: 25 Royce Road
Carr Road Industrial Estate
Peterborough
Cambs
PE1 5YB

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% reducing balance
Computer & office equipmt - 33% on reducing balance and 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Sterling, Bolt and Nut Company Limited (Registered number: 02481273)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


3. Accounting policies - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. Employees and directors

The average number of employees during the year was 7 (2023 - 8 ) .

5. Intangible fixed assets
Goodwill
£   
Cost
At 1 August 2023
and 31 July 2024 2,500
Amortisation
At 1 August 2023
and 31 July 2024 2,500
Net book value
At 31 July 2024 -
At 31 July 2023 -

Sterling, Bolt and Nut Company Limited (Registered number: 02481273)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


6. Tangible fixed assets
Fixtures Computer
Plant and and Motor & office
machinery fittings vehicles equipmt Totals
£    £    £    £    £   
Cost
At 1 August 2023 1,325 37,884 19,290 37,987 96,486
Additions - 816 17,925 2,854 21,595
Disposals - - (4,800 ) - (4,800 )
At 31 July 2024 1,325 38,700 32,415 40,841 113,281
Depreciation
At 1 August 2023 1,152 26,459 5,909 26,602 60,122
Charge for year 44 2,447 6,626 3,565 12,682
At 31 July 2024 1,196 28,906 12,535 30,167 72,804
Net book value
At 31 July 2024 129 9,794 19,880 10,674 40,477
At 31 July 2023 173 11,425 13,381 11,385 36,364

7. Stocks
2024 2023
£    £   
Stocks 235,880 211,322

8. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 114,276 119,250
Other debtors 9,914 7,954
124,190 127,204

9. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 11,627 11,646
Trade creditors 83,594 83,920
Taxation and social security 36,586 50,948
Other creditors 15,298 18,779
147,105 165,293

Sterling, Bolt and Nut Company Limited (Registered number: 02481273)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


10. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 9,499 19,623

11. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bounce Back Loan 19,861 29,861

Loan is guaranteed by the Government and interest at 2.5% is charged.

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
502 Ordinary shares £1 502 502

13. Capital commitments
2024 2023
£    £   
Contracted but not provided for in the
financial statements 194,667 228,032

The commitments are in respect of premises rental obligations.