SES Sterling Limited - Accounts to registrar (filleted) - small 23.2.5

SES Sterling Limited - Accounts to registrar (filleted) - small 23.2.5

S.E.S. STERLING LIMITED - Company Information

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REGISTERED NUMBER: 00943499 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

SES Sterling Limited
SES Sterling Limited (Registered number: 00943499)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SES Sterling Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: G P Driver


REGISTERED OFFICE: Harcourt Business Park
Halesfield 17
Telford
Shropshire
TF7 4PW


REGISTERED NUMBER: 00943499 (England and Wales)


SENIOR STATUTORY AUDITOR: Thomas Landers BA FCA


AUDITORS: Morgan Griffiths LLP
Chartered Accountants
Statutory Auditor
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY


SOLICITORS: Lanyon Bowdler
Brodie House
Telford
Shropshire
TF3 4DR
Page 1
SES Sterling Limited (Registered number: 00943499)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 874,607 896,242

CURRENT ASSETS
Stocks 315,015 199,459
Debtors 6 780,919 622,232
Cash at bank and in hand 316,454 569,735
1,412,388 1,391,426
CREDITORS
Amounts falling due within one year 7 587,015 633,377
NET CURRENT ASSETS 825,373 758,049
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,699,980
1,654,291

CAPITAL AND RESERVES
Called up share capital 2,329,240 2,329,240
Retained earnings (629,260 ) (674,949 )
SHAREHOLDERS' FUNDS 1,699,980 1,654,291

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 June 2024 and were signed by:





G P Driver - Director


The notes form part of these financial statements

Page 2
SES Sterling Limited (Registered number: 00943499)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

SES Sterling 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Income recognition
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have been transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost or valuation
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and Straight line over 4 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stock has been valued using average price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 3 continued...
SES Sterling Limited (Registered number: 00943499)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 1,262,030 59,828 1,321,858
DEPRECIATION
At 1 January 2023 366,183 59,433 425,616
Charge for year 21,540 95 21,635
At 31 December 2023 387,723 59,528 447,251
NET BOOK VALUE
At 31 December 2023 874,307 300 874,607
At 31 December 2022 895,847 395 896,242

Included in cost of land and buildings is freehold land of £ 185,000 (2022 - £ 185,000 ) which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 760,388 585,331
Other debtors 20,531 36,901
780,919 622,232

Page 4 continued...
SES Sterling Limited (Registered number: 00943499)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 428,988 532,207
Taxation and social security 126,064 81,848
Other creditors 31,963 19,322
587,015 633,377

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Thomas Landers BA FCA (Senior Statutory Auditor)
for and on behalf of Morgan Griffiths LLP

9. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. At the balance sheet date no amounts remained unpaid (2022 nil).

10. OTHER FINANCIAL COMMITMENTS

At 31 December 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £25,604 (2022 £14,484).

11. ULTIMATE CONTROLLING PARTY

The immediate parent company is SES-Sterling Industrie-Holding AG, Mariastein, Switzerland. This company owns the whole of the issued share capital of SES Sterling Limited.

The majority shareholders of SES-Sterling Industrie-Holding AG and the ultimate controlling party who own 51% of the shares are:

Mme S Esposito
Mme C Hess
Mme S Hess
Mme S Loew

Page 5