Company registration number 02963346 (England and Wales)
STERLING PROPERTY TRUST LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
Affinia
19th Floor
1 Westfield Avenue
London
E20 1HZ
STERLING PROPERTY TRUST LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
STERLING PROPERTY TRUST LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
978
1,537
Investment property
5
5,999,050
5,999,050
Investments
6
187,483
187,483
6,187,511
6,188,070
Current assets
Debtors
7
4,243,462
6,953,511
Cash at bank and in hand
94,843
311,790
4,338,305
7,265,301
Creditors: amounts falling due within one year
8
(10,518,188)
(3,909,341)
Net current (liabilities)/assets
(6,179,883)
3,355,960
Net assets
7,628
9,544,030
Capital and reserves
Called up share capital
9
7,500
7,500
Profit and loss reserves
128
9,536,530
Total equity
7,628
9,544,030

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 6 April 2026 and are signed on its behalf by:
A P Farrell
Director
Company registration number 02963346 (England and Wales)
STERLING PROPERTY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Company information

Sterling Property Trust Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 60 Gracechurch Street, London, EC3V 0HR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

STERLING PROPERTY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

STERLING PROPERTY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
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 recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.13

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertakings comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act not to prepare group accounts.

STERLING PROPERTY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
2
Judgements and key sources of estimation uncertainty

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.

In preparing these financial statements, the directors have made the following judgements:

- Determining whether there are indicators of impairment of the company's tangible and intangible assets is a key judgement. Factors taken in consideration in reaching such decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

• Bad debt provisions are made where the assessment of full recoverability of a debt is deemed to be uncertain. This is based on an assessment of each debtor, including the age of the debt, the length of the trading relationship and the trading status of the debtor.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
3
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2025 and 31 December 2025
19,673
Depreciation and impairment
At 1 January 2025
18,136
Depreciation charged in the year
559
At 31 December 2025
18,695
Carrying amount
At 31 December 2025
978
At 31 December 2024
1,537
STERLING PROPERTY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
5
Investment property
2025
£
Fair value
At 1 January 2025 and 31 December 2025
5,999,050

The directors have reviewed the valuation of the company's investment properties and consider that the carrying value of the investment properties accurately reflects market value at the balance sheet date.

6
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
187,483
187,483
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
56,324
66,900
Amounts owed by group undertakings
4,187,138
6,886,611
4,243,462
6,953,511
8
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
2,700
4,220
Amounts owed to group undertakings
6,769,325
172,898
Taxation and social security
17,102
11,664
Other creditors
3,729,061
3,720,559
10,518,188
3,909,341
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of 1p each
750,000
750,000
7,500
7,500
STERLING PROPERTY TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
10
Related party transactions

As at the balance sheet date, the following amounts were owed by fellow group undertakings:

Openport SA - £11,315 (2024: £11,315)

Samerise Limited - £87,756 (2024: £84,503)

Estatedeal Limited - £193,065 (2024: £192,919)

Robert Fraser (Littlehampton) Limited - £70,205 (2024: £70,152)

Sterling Property Developments Limited - £3,824,797 (2024: £3,399,961)

Sterling Property Holdings Limited - £Nil (2024: £3,124,573)

As at the balance sheet date, the following amounts were owed to fellow group undertakings:

Samerise Limited - £43,225 (2024: £43,225)

Estatedeal Limited - £95,094 (2024: £95,094)

Robert Fraser (Littlehampton) Limited - £34,579 (2024: £34,579)

Sterling Property Holdings Limited - £6,596,427 (2024: £Nil)

The company is controlled by Mr A Farrell and Ms E Farrell.

As at 31 December 2025, the company owed the directors and other family members the sum of £3,612,549. This is included in other creditors.

11
Parent company

The company's immediate parent undertaking is Sterling Property Holdings Limited, a company registered in England and Wales.

The company's ultimate parent undertakings are SPTH Capital Limited, SPTA Capital Limited and Velu Investments Limited , all companies are registered in England and Wales.

Copies of the accounts are obtainable from Companies House and 19th Floor, 1 Westfield Avenue, London E20 1HZ.

2025-12-31 2025-01-01 false false false 06 April 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mrs M D R Cardenoso Saenz de Miera A P Farrell 02963346 2025-01-01 2025-12-31 02963346 2025-12-31 02963346 2024-12-31 02963346 core:OtherPropertyPlantEquipment 2025-12-31 02963346 core:OtherPropertyPlantEquipment 2024-12-31 02963346 core:CurrentFinancialInstruments core:WithinOneYear 2025-12-31 02963346 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 02963346 core:CurrentFinancialInstruments 2025-12-31 02963346 core:CurrentFinancialInstruments 2024-12-31 02963346 core:ShareCapital 2025-12-31 02963346 core:ShareCapital 2024-12-31 02963346 core:RetainedEarningsAccumulatedLosses 2025-12-31 02963346 core:RetainedEarningsAccumulatedLosses 2024-12-31 02963346 core:ShareCapitalOrdinaryShareClass1 2025-12-31 02963346 core:ShareCapitalOrdinaryShareClass1 2024-12-31 02963346 bus:Director2 2025-01-01 2025-12-31 02963346 core:FurnitureFittings 2025-01-01 2025-12-31 02963346 2024-01-01 2024-12-31 02963346 core:OtherPropertyPlantEquipment 2024-12-31 02963346 core:OtherPropertyPlantEquipment 2025-01-01 2025-12-31 02963346 2024-12-31 02963346 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 02963346 bus:OrdinaryShareClass1 2025-12-31 02963346 bus:OrdinaryShareClass1 2024-12-31 02963346 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 02963346 bus:FRS102 2025-01-01 2025-12-31 02963346 bus:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 02963346 bus:Director1 2025-01-01 2025-12-31 02963346 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 02963346 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP