STERLING TRUCKS LIMITED

STERLING TRUCKS LIMITED

STERLING TRUCKS LIMITED - Company Information

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STERLING TRUCKS LIMITED

Company Registration Number:
SC197651 (Scotland)

Unaudited abridged accounts for the year ended 30 June 2019

Period of accounts

Start date: 01 July 2018

End date: 30 June 2019

STERLING TRUCKS LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2019

Balance sheet
Notes

STERLING TRUCKS LIMITED

Balance sheet

As at 30 June 2019


Notes
2019
2018


£
£
Fixed assets
Tangible assets: 2 1,416,645 772,220
Total fixed assets: 1,416,645 772,220
Current assets
Debtors:   110,731 62,994
Cash at bank and in hand: 4,340 42,667
Total current assets: 115,071 105,661
Creditors: amounts falling due within one year: 3 (470,968) (255,514)
Net current assets (liabilities): (355,897) (149,853)
Total assets less current liabilities: 1,060,748 622,367
Creditors: amounts falling due after more than one year: 4 (927,244) (512,569)
Total net assets (liabilities): 133,504 109,798
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 133,502 109,796
Shareholders funds: 133,504 109,798

The notes form part of these financial statements

STERLING TRUCKS LIMITED

Balance sheet statements

For the year ending 30 June 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 09 March 2020
and signed on behalf of the board by:

Name: ANDREW DUFF
Status: Director

The notes form part of these financial statements

STERLING TRUCKS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents the value of all contract hire/rental services during the year at selling price exclusive of VAT

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost,depreciation is calculated to write off the cost of an asset,net ofanticipated residual value over the useful economic life of the asset as followsLorries/Vans 1-5 years straight line

Other accounting policies

Assets held under hire purchase contracts are capitalised in the Balance Sheet as Tangible Fixed Assets and Depreciated in line with Accounting Policy Tangible Fixed Assets and the corresponding Hire Purchase liability included in Creditors,Monthly repayments are allocated to capital as repayment of Creditor and interest charged to Profit And Loss Account

STERLING TRUCKS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

2. Tangible Assets

Total
Cost £
At 01 July 2018 1,272,658
Additions 1,065,023
Disposals (176,760)
At 30 June 2019 2,160,921
Depreciation
At 01 July 2018 500,438
Charge for year 337,064
On disposals (93,226)
At 30 June 2019 744,276
Net book value
At 30 June 2019 1,416,645
At 30 June 2018 772,220

STERLING TRUCKS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

3. Creditors: amounts falling due within one year note

The company has given security on assets specific toall outstanding hire purchase creditors

STERLING TRUCKS LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

4. Creditors: amounts falling due after more than one year note

The company has given security to assets specific to all outstanding hire purchase contracts