Sterling ITC Limited - Accounts to registrar (filleted) - small 17.3

Sterling ITC Limited - Accounts to registrar (filleted) - small 17.3

STERLING ITC LIMITED - Company Information

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REGISTERED NUMBER: 08854877 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 January 2017

for

Sterling ITC Limited
Sterling ITC Limited (Registered number: 08854877)






Contents of the Financial Statements
for the Year Ended 31 January 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sterling ITC Limited

Company Information
for the Year Ended 31 January 2017







DIRECTORS: Mr J Morrison
Miss K Beach





REGISTERED OFFICE: The Old Boardroom
Collett Road
Ware
Hertfordshire
SG12 7LR





REGISTERED NUMBER: 08854877 (England and Wales)





ACCOUNTANTS: DSCO
The Old Boardroom
Collett Road
Ware
Hertfordshire
SG12 7LR
Page 1
Sterling ITC Limited (Registered number: 08854877)

Balance Sheet
31 January 2017

31.1.17 31.1.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,398 5,752

CURRENT ASSETS
Debtors 5 23,065 23,582
Cash at bank 102,824 65,851
125,889 89,433
CREDITORS
Amounts falling due within one year 6 56,378 47,757
NET CURRENT ASSETS 69,511 41,676
TOTAL ASSETS LESS CURRENT
LIABILITIES
71,909
47,428

PROVISIONS FOR LIABILITIES 7 480 1,150
NET ASSETS 71,429 46,278

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 71,329 46,178
SHAREHOLDERS' FUNDS 71,429 46,278

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 12 September 2017 and were signed on its behalf
by:



Mr J Morrison - Director


The notes form part of these financial statements

Page 2
Sterling ITC Limited (Registered number: 08854877)

Notes to the Financial Statements
for the Year Ended 31 January 2017

1. STATUTORY INFORMATION

Sterling ITC 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 15% on cost

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

Page 3 continued...
Sterling ITC Limited (Registered number: 08854877)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 February 2016 3,957 4,150 8,107
Additions 1,278 - 1,278
Disposals - (4,150 ) (4,150 )
At 31 January 2017 5,235 - 5,235
DEPRECIATION
At 1 February 2016 1,110 1,245 2,355
Charge for year 1,727 - 1,727
Eliminated on disposal - (1,245 ) (1,245 )
At 31 January 2017 2,837 - 2,837
NET BOOK VALUE
At 31 January 2017 2,398 - 2,398
At 31 January 2016 2,847 2,905 5,752

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.17 31.1.16
£    £   
Trade debtors 23,065 23,582

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.17 31.1.16
£    £   
Tax 34,173 32,736
Social security and other taxes 139 -
VAT 17,947 11,980
Wages control - 850
Directors' current accounts 1,731 191
Accrued expenses 2,388 2,000
56,378 47,757

7. PROVISIONS FOR LIABILITIES
31.1.17 31.1.16
£    £   
Deferred tax 480 1,150

Deferred
tax
£   
Balance at 1 February 2016 1,150
Accelerated Capital Allowances (670 )
Balance at 31 January 2017 480

Page 4 continued...
Sterling ITC Limited (Registered number: 08854877)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2017

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.1.17 31.1.16
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 February 2016 46,178
Profit for the year 132,651
Dividends (107,500 )
At 31 January 2017 71,329

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £107,500 (2016 - £105,000) were paid to the directors .

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J Morrison.

Page 5