Abbreviated Company Accounts - STERLING GROUP HOLDINGS LIMITED
Abbreviated Company Accounts - STERLING GROUP HOLDINGS LIMITED
Registered Number 02884370
STERLING GROUP HOLDINGS LIMITED
Abbreviated Accounts
31 December 2015
STERLING GROUP HOLDINGS LIMITED Registered Number 02884370
Abbreviated Balance Sheet as at 31 December 2015
| Notes | 2015 | 2014 | |
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| £ | £ | ||
| Fixed assets | |||
| Investments | 2 |
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| Cash at bank and in hand |
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| Creditors: amounts falling due within one year |
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| Net current assets (liabilities) |
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| Total assets less current liabilities |
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| Total net assets (liabilities) |
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| Capital and reserves | |||
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| Profit and loss account |
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| Shareholders' funds |
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For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
And signed on their behalf by:
STERLING GROUP HOLDINGS LIMITED Registered Number 02884370
Notes to the Abbreviated Accounts for the period ended 31 December 2015
1Accounting Policies
Basis of measurement and preparation of accounts
The company made a loss of £1 during the year ended 31 December 2015 and at that date its liabilities exceeded its assets by £5,025. 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.
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
Intangible assets amortisation policy
Fixed asset investments are stated at cost less provision for diminution in value.
Other accounting policies
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
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.
2Fixed assets Investments
At 31 December 2014: 98,757
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company: Sterling Industrial Finance Limited
Country of registration or incorporation: England and Wales
Shares held: Ordinary 100%
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Company: Sterling Industrial Finance Limited
Principal activity: Finance company
Capital and reserves: £57,345
Profit/(loss) for the year: 0
As at 31 December 2015, Sterling Group Holdings Limited also held 12.2% of the share capital of Robert Fraser Asset Management Limited.