Sterling Temple Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Sterling Temple Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06988481 . The registered office is Unit 131, 128 Aldersgate Street, London, EC1A 4AE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 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 rendering of services and 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.

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% to 50% per annum of the net book value

2.4. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.5. Financial Instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

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Sterling Temple Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.5. Financial Instruments - continued

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

2.6. Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 September 2024	60,382
Additions	160
Disposals	(160 )

As at 31 August 2025	60,382

Depreciation
As at 1 September 2024	44,223
Provided during the period	5,332

As at 31 August 2025	49,555

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Sterling Temple Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

Net Book Value
As at 31 August 2025	10,827

As at 1 September 2024	16,159

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	38,302	45,570
Prepayments and accrued income	35,384	68,019
Other debtors	4,739	4,649
Corporation tax recoverable assets	-	20,775
Director's loan account	166,015	186,072

	244,440	325,085

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	7,255
Bank loans and overdrafts	17,035	15,200
Corporation tax	105,667	153,421
Other taxes and social security	42,081	27,277
Other creditors	18,295	15,527
Accruals and deferred income	22,427	11,486

	205,505	230,166

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	13,310	16,859

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	-	7,525
Less: Finance charges allocated to future periods	-	270

	-	7,255

9. Deferred Taxation

The provision for deferred taxation is made up of accelerated capital allowances

	2025	2024
	£	£
Other timing differences	2,667	4,040

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Sterling Temple Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	4,990	4,990

	4,990	4,990

12. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 September 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 August 2025
	£	£	£	£	£
Mr Anthony Temple	186,072	167,043	(187,100 )	-	166,015

The above loan is unsecured and repayable on demand. Interest was charged at a rate of 2.25% to 3.75% for the year under review.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		10,827		16,159

			10,827		16,159
CURRENT ASSETS
Debtors	5	244,440		325,085
Cash at bank and in hand		15,089		13,663

		259,529		338,748
Creditors: Amounts Falling Due Within One Year	6	(205,505 )		(230,166 )

NET CURRENT ASSETS (LIABILITIES)			54,024		108,582

TOTAL ASSETS LESS CURRENT LIABILITIES			64,851		124,741

Creditors: Amounts Falling Due After More Than One Year	7		(13,310 )		(16,859 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		(2,667 )		(4,040 )

NET ASSETS			48,874		103,842

CAPITAL AND RESERVES
Called up share capital	10		2		2
Profit and Loss Account			48,872		103,840

SHAREHOLDERS' FUNDS			48,874		103,842