Sterling 3 Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 12261880 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

STERLING 3 LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

K S Hundle

Mrs S K Hundle

REGISTERED OFFICE:

106 Grace Road

Leicester

Leicestershire

LE2 8AZ

REGISTERED NUMBER:

12261880 (England and Wales)

ACCOUNTANTS:

Shenward (Leeds) Limited

Josephs Well, Suite 2C

Hanover Walk

Leeds

West Yorkshire

LS3 1AB

FIXED ASSETS

Investments

5

1

CURRENT ASSETS

Debtors

6

826,800

566,800

Cash at bank

332,417

5,585

1,159,217

572,385

CREDITORS

Amounts falling due within one year

7

571,753

18,581

NET CURRENT ASSETS

587,464

553,804

TOTAL ASSETS LESS CURRENT
LIABILITIES

587,465

553,805

CREDITORS

Amounts falling due after more than one
year

8

2,500

12,500

NET ASSETS

584,965

541,305

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

584,865

541,205

SHAREHOLDERS' FUNDS

584,965

541,305

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 12 December 2025 and were signed on its behalf by:

K S Hundle - Director

1.	STATUTORY INFORMATION

Sterling 3 Limited 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.	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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Details of these judgements can be found in the accounting policies.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially recorded 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party,

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recorded at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities in payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.

Provisions for liabilities

Provisions are made when an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Income Statement in the year that the company becomes aware of the obligation and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

5.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 April 2024

and 31 March 2025

1

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Joint venture

Warwick Healthcare Limited

Registered office: United Kingdom

Nature of business: The supply of pharmaceutical products

%

Class of shares:

holding

Ordinary

50.00

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Amounts owed by joint ventures

50,000

-

Other debtors

776,800

566,800

826,800

566,800

The amounts owed by joint ventures consists solely of amounts owed by Warwick Healthcare Limited. The details of this company can be found above in note 6.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts (see note 9)

10,000

Directors' current accounts

561,752

8,581

Accruals and deferred income

1

-

571,753

18,581

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans (see note 9)

2,500

12,500

9.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

Amounts falling due within one year or on demand:

Bank loans

10,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

2,500

10,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

2,500

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

50

Ordinary A

£1

50

Ordinary B

£1

50

100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

K S and Mrs S K Hundle

Balance b/f (£8,581)

Amounts advanced (£750,878)

Amounts repaid £197,706

Balance outstanding at end of year (£561,752)

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors by virtue of their directorship and shareholding.