ACCOUNTS - Final Accounts preparation

STERLING BUILDING SERVICES LIMITED - Company Information

Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30No description of principal activity2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-10-012falsetruetruefalse 06706380 2022-10-01 2023-09-30 06706380 2021-10-01 2022-09-30 06706380 2023-09-30 06706380 2022-09-30 06706380 c:Director1 2022-10-01 2023-09-30 06706380 d:MotorVehicles 2022-10-01 2023-09-30 06706380 d:MotorVehicles 2023-09-30 06706380 d:MotorVehicles 2022-09-30 06706380 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 06706380 d:CurrentFinancialInstruments 2023-09-30 06706380 d:CurrentFinancialInstruments 2022-09-30 06706380 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 06706380 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 06706380 d:ShareCapital 2023-09-30 06706380 d:ShareCapital 2022-09-30 06706380 d:CapitalRedemptionReserve 2023-09-30 06706380 d:CapitalRedemptionReserve 2022-09-30 06706380 d:RetainedEarningsAccumulatedLosses 2023-09-30 06706380 d:RetainedEarningsAccumulatedLosses 2022-09-30 06706380 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-09-30 06706380 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-09-30 06706380 c:FRS102 2022-10-01 2023-09-30 06706380 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 06706380 c:FullAccounts 2022-10-01 2023-09-30 06706380 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 06706380 e:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number: 06706380

STERLING BUILDING SERVICES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

STERLING BUILDING SERVICES LIMITED

REGISTERED NUMBER: 06706380

BALANCE SHEET

AS AT 30 SEPTEMBER 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	4		-		1,200
			-		1,200
Current assets
Debtors: amounts falling due within one year	5	100,001		14,207
Cash at bank and in hand	6	19,364		122,022
		119,365		136,229
Creditors: amounts falling due within one year	7	(55,329)		(935)
Net current assets			64,036		135,294
Total assets less current liabilities			64,036		136,494

Net assets			64,036		136,494

Capital and reserves
Called up share capital	2	2
Capital redemption reserve	1	1
Profit and loss account	64,033	136,491
	64,036	136,494

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STERLING BUILDING SERVICES LIMITED

REGISTERED NUMBER: 06706380

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2023

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 by:

................................................

S Blennerhassett

Director

Date: 17 June 2024

The notes on pages 3 to 7 form part of these financial statements.

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STERLING BUILDING SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.	General information

Sterling Building Services Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06706380 and registered office address is Sterling House, Unit 22 Caddick Road, Knowsley Business Park, Liverpool, L34 9HP.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.3

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.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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STERLING BUILDING SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

2.4

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles

20%

straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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STERLING BUILDING SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

2.8

Financial instruments (continued)

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

2.9

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 the directors, during the year was as follows:

	2023	2022
	No.	No.

Directors	2	2

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STERLING BUILDING SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.	Tangible fixed assets

		Motor vehicles
		£
	Cost or valuation
	At 1 October 2022	32,962
	At 30 September 2023	32,962
	Depreciation
	At 1 October 2022	31,763
	Charge for the year on owned assets	1,199
	At 30 September 2023	32,962
	Net book value
	At 30 September 2023	-
	At 30 September 2022	1,200

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:

Debtors

					2023	2022
					£	£


Amounts owed by joint ventures and associated undertakings	100,000	-
Other debtors	1	14,207
	100,001	14,207

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STERLING BUILDING SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	19,364	122,022
	19,364	122,022

7.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Other creditors	53,794	-
Accruals and deferred income	1,535	935
	55,329	935

8.	Financial instruments
		2023	2022
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	19,364	-

Financial assets measured at fair value through profit or loss comprise bank.

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