Abbreviated Company Accounts - STERLING GROUP HOLDINGS LIMITED

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company made a loss of £Nil during the year ended 31 December 2014 and at that date its liabilities exceeded its assets by £5,024. The company is therefore dependent on the continued financial support of the holding company.
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continued financial support of the holding company and creditors. The holding company and creditors are not legally committed to continue to provide financial support. However the directors believe that continued support will be provided and certain creditors have confirmed they will not seek repayment until funds are available. The financial statements do not include any adjustments that might result if financial support is not provided by the holding company.
On this basis the directors believe it is appropriate for the financial statements to be prepared on a going concern basis.

Other accounting policies
Consolidation
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Cash flow statement
The company has not prepared a cash flow statement since it is a wholly owned subsidiary undertaking of another U.K. company preparing group accounts in which there is a consolidated cash flow statement.

Deferred taxation
Provision is made for deferred taxation using the liability method to take account of timing differences between the incidence of the income and expenditure for taxation and accounting purposes except to the extent that the directors consider that a liability to taxation is unlikely to crystallise.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

ULTIMATE PARENT COMPANY
The immediate undertaking is Robert Fraser Group Limited, a company registered in England and Wales. The ultimate overseas parent company is Egerton Holdings Limited, a company registered in The Bahamas. The financial statements of Robert Fraser Group Limited will be available from 17th Floor Millbank Tower, 21-24 Millbank, London SW1P 4QP and Companies House.
The ultimate controlling interest is Eaton Trust Limited.

2Fixed assets Investments
COST
At 1 January 2014 and 31 December 2014: 98,757
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NET BOOK VALUE
At 31 December 2014: 98,757
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At 31 December 2013: 98,757
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As at 31 December 2014, Sterling Group Holdings Limited holds 100% of the share capital in Sterling Industrial Finance Limited. The principal activity of Sterling Industrial Finance Limited, was that of a general finance and servicing company.

Aggregate capital and Reserves

Sterling Industrial Finance Limited
2014: 57,345
2013: 57,345

Profit/(loss) for the year

Sterling Industrial Finance Limited
2014: Nil
2013: 146

As at 31 December 2014, Sterling Group Holdings Limited also held 12.2% of the share capital of Robert Fraser Asset Management Limited.