Registration number: 02740860

Sternway Properties Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Sternway Properties Limited

Company Information

Directors

Mr C N Harvey Mrs C Harvey

Registered office

53 High Street Maidstone Kent ME14 1SY

Bankers

National Westminster Bank Plc

Accountants

Thompson Jenner LLP Chartered Accountants 28 Alexandra Terrace Exmouth Devon EX8 1BD

Sternway Properties Limited

(Registration number: 02740860)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	273,335	249,562
Tangible assets	5	8,141	1,639
		281,476	251,201
Current assets
Debtors	6	98,395	75,025
Cash at bank and in hand		726,892	736,018
		825,287	811,043
Creditors: Amounts falling due within one year	7	(950,704)	(867,132)
Net current liabilities		(125,417)	(56,089)
Total assets less current liabilities		156,059	195,112
Creditors: Amounts falling due after more than one year	7	(19,017)	(24,582)
Provisions for liabilities		(2,035)	21,403
Net assets		135,007	191,933
Capital and reserves
Called up share capital		2	2
Retained earnings		135,005	191,931
Shareholders' funds		135,007	191,933

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Sternway Properties Limited

(Registration number: 02740860)
Balance Sheet as at 31 December 2025

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 September 2026 and signed on its behalf by:
 

......................................... Mrs C Harvey Director

Sternway Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
53 High Street
Maidstone
Kent
ME14 1SY

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Sternway Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture and fittings	25% reducing balance
Office equipment	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Sternway Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2024 - 9).

Sternway Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2025	443,428	443,428
Additions acquired separately	96,553	96,553
At 31 December 2025	539,981	539,981
Amortisation
At 1 January 2025	193,866	193,866
Amortisation charge	72,780	72,780
At 31 December 2025	266,646	266,646
Carrying amount
At 31 December 2025	273,335	273,335
At 31 December 2024	249,562	249,562

Sternway Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2025	12,358	12,358
Additions	9,216	9,216
At 31 December 2025	21,574	21,574
Depreciation
At 1 January 2025	10,719	10,719
Charge for the year	2,714	2,714
At 31 December 2025	13,433	13,433
Carrying amount
At 31 December 2025	8,141	8,141
At 31 December 2024	1,639	1,639

6

Debtors

	Note	2025 £	2024 £
Trade debtors		96,226	71,928
Amounts owed by parent undertakings		1,318	1,318
Prepayments and accrued income		851	1,779
Total current trade and other debtors		98,395	75,025

Sternway Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

7

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	5,566	44,047
Trade creditors		35,228	29,322
Amounts owed to group undertakings and undertakings in which the company has a participating interest		263,508	189,183
Taxation and social security		110,046	82,783
Other creditors		527,649	513,352
Accrued expenses		8,707	8,445
		950,704	867,132