Registered Number 03805606
STERLING CREDIT GUARANTEE COMPANY LIMITED
Abbreviated Accounts
31 December 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Investments | 2 |
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Current assets | |||
Debtors |
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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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Creditors: amounts falling due after more than one year |
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Total net assets (liabilities) |
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( |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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Shareholders' funds |
( |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The company made a loss of £4 (2014: Loss of £943) during the year ended 31 December 2015 but at that date its liabilities exceeded its assets by £92,128 (2014: £92,124). 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, to which the holding company is not legally committed but which the directors believe will be 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
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.
2
Fixed assets Investments
Disposals: (4)
At 31 December 2015: 11
At 31 December 2014: 15
As at 31 December 2015, the company held 375 Ordinary shares of £0.01 each in the following companies, all registered in England and Wales. This represents 3,75% of the issued share capital of each company.
Enigma II Marine Limited
Enigma Recoveries Limited
Shantaram Consolidation Limited