Sternford Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08388668 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2023

for

Sternford Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A P Kumar

REGISTERED OFFICE:

c/o DRS Tax & Business Advisors

Office 17 Access House

Manor Road

West Ealing

W13 0AS

REGISTERED NUMBER:

08388668 (England and Wales)

FIXED ASSETS

Intangible assets

4

458,700

550,440

CURRENT ASSETS

Debtors

5

2,737

13,549

Cash at bank

6

15,746

2,856

18,483

16,405

CREDITORS

Amounts falling due within one year

7

658,394

653,769

NET CURRENT LIABILITIES

(639,911

)

(637,364

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(181,211

)

(86,924

)

CAPITAL AND RESERVES

Called up share capital

8

107,192

107,192

Retained earnings

(288,403

)

(194,116

)

SHAREHOLDERS' FUNDS

(181,211

)

(86,924

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2024 and were signed by:

A P Kumar - Director

1.	STATUTORY INFORMATION

Sternford Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life can not be made, the useful life shall not exceed ten years.

Intellectual Property - 10 years

All intangible assets are considered to have a finite useful life. Intangible assets relate to intellectual property rights in regards to the film. The film is expected to have a useful life of no more than 5 years.

The amoritsation of the intangible is allocated to reflect the pattern in which economic benefit is expected from that intangible, the majority being expected within the first year.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties' loans, to related parties and investments in ordinary shares.

Debtors

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, Ioans from banks and other third parties, loans to related parties and investments in ordinary shares.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 May 2022

and 30 April 2023

917,400

AMORTISATION

At 1 May 2022

366,960

Amortisation for year

91,740

At 30 April 2023

458,700

NET BOOK VALUE

At 30 April 2023

458,700

At 30 April 2022

550,440

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Other debtors

2,737

13,549

6.	CASH AT BANK

30.4.23

30.4.22

£

£

Cash and bank balances

15,746

2,856

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Bank loans and overdrafts

441,602

411,602

Trade creditors

10,403

10,403

Social security and other taxes

(214

)

(214

)

Other creditors

155,682

226,228

Directors' current accounts

45,171

-

Accrued expenses

5,750

5,750

658,394

653,769

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.23

30.4.22

value:

£

£

1,000

Ordinary A

£1

1,000

1,000

106,192

Ordinary B

£1

106,192

106,192

107,192

107,192

9.	RELATED PARTY DISCLOSURES

Included in creditors is a loan from a director A Kumar of £ 441,602 (2022 £ 411,602)

Included in the creditors balance at the year end is a credit balance to Alipur Films Limited, a incorporated in England & Wales of which A Kumar is the majority shareholder, for supplied services to the value of £1225 (2022 £72,771)