ACCOUNTS - Final Accounts preparation

Cash and cash equivalents

STERLING CAPITAL REAL ESTATE LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-02-282022-02-28false42021-03-014falsetrueNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12451671 2021-03-01 2022-02-28 12451671 2020-02-10 2021-02-28 12451671 2022-02-28 12451671 2021-02-28 12451671 c:Director1 2021-03-01 2022-02-28 12451671 d:CurrentFinancialInstruments 2022-02-28 12451671 d:CurrentFinancialInstruments 2021-02-28 12451671 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 12451671 d:CurrentFinancialInstruments d:WithinOneYear 2021-02-28 12451671 d:ShareCapital 2022-02-28 12451671 d:ShareCapital 2021-02-28 12451671 d:RetainedEarningsAccumulatedLosses 2022-02-28 12451671 d:RetainedEarningsAccumulatedLosses 2021-02-28 12451671 c:FRS102 2021-03-01 2022-02-28 12451671 c:AuditExempt-NoAccountantsReport 2021-03-01 2022-02-28 12451671 c:FullAccounts 2021-03-01 2022-02-28 12451671 c:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure

Registered number: 12451671

STERLING CAPITAL REAL ESTATE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2022

STERLING CAPITAL REAL ESTATE LIMITED

REGISTERED NUMBER: 12451671

BALANCE SHEET

AS AT 28 FEBRUARY 2022

		2022		2021
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	16,581		23,302
Cash at bank and in hand		150		150
		16,731		23,452
Creditors: amounts falling due within one year	6	(1,499)		(6,212)
Net current assets			15,232		17,240
Total assets less current liabilities			15,232		17,240

Net assets			15,232		17,240

Capital and reserves
Called up share capital	150	150
Profit and loss account	15,082	17,090
	15,232	17,240

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STERLING CAPITAL REAL ESTATE LIMITED

REGISTERED NUMBER: 12451671

BALANCE SHEET (CONTINUED)

AS AT 28 FEBRUARY 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 November 2022.

Santiago Klein

Director

The notes on pages 3 to 5 form part of these financial statements.

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STERLING CAPITAL REAL ESTATE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

1.	General information

Sterling Capital Real Estate Limited is a private company limited by shares and incorporated in England & Wales (registered number12451671). The registered office is 64 New Cavendish Street, London, W1G 8TB.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.
Potential sources of uncertainty noted by the directors include the COVID-19 pandemic. However, at the date of this report it is not possible to reliably determine the effects that this will have on the company.

Accordingly the directors have continued to prepare the financial statements on the going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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STERLING CAPITAL REAL ESTATE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

2.Accounting policies (continued)

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 4).

Debtors

					2022	2021
					£	£


Amounts owed by group undertakings	16,066	23,302
Tax recoverable	515	-
	16,581	23,302

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STERLING CAPITAL REAL ESTATE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

Cash at bank and in hand	150	150
	150	150

Corporation tax	-	4,712
Accruals and deferred income	1,499	1,500
	1,499	6,212

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