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Unaudited Financial Statements |
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for the Year Ended 30 April 2021 |
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for |
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Sterling Partners Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 April 2021 |
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for |
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Sterling Partners Limited |
Sterling Partners Limited (Registered number: 06974542) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Sterling Partners Limited |
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Company Information |
for the Year Ended 30 April 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Chartered Tax Advisors |
2nd Floor, Grove House |
774-780 Wilmslow Road |
Didsbury |
Manchester |
Greater Manchester |
M20 2DR |
Sterling Partners Limited (Registered number: 06974542) |
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Balance Sheet |
30 April 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Work in progress | 6 |
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Debtors | 7 |
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Investments | 8 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 9 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
10 |
( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
Sterling Partners Limited (Registered number: 06974542) |
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Balance Sheet - continued |
30 April 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Sterling Partners Limited (Registered number: 06974542) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2021 |
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1. | STATUTORY INFORMATION |
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Sterling Partners Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Work in progress |
Work in progress is valued at the lower of cost and net realisable value on work performed during the period. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
Sterling Partners Limited (Registered number: 06974542) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 May 2020 |
and 30 April 2021 |
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AMORTISATION |
At 1 May 2020 |
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Charge for year |
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At 30 April 2021 |
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NET BOOK VALUE |
At 30 April 2021 |
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At 30 April 2020 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 May 2020 |
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Additions |
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At 30 April 2021 |
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DEPRECIATION |
At 1 May 2020 |
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Charge for year |
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At 30 April 2021 |
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NET BOOK VALUE |
At 30 April 2021 |
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At 30 April 2020 |
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6. | WORK IN PROGRESS |
2021 | 2020 |
£ | £ |
Work-in-progress |
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Sterling Partners Limited (Registered number: 06974542) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Client Account | - | 158 |
Other debtors |
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Inter-company | 322,878 | 312,118 |
Prepayments |
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8. | CURRENT ASSET INVESTMENTS |
2021 | 2020 |
£ | £ |
Shares in group undertakings |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 106,261 | 54,513 |
Bad debt provision |
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Client Account | - | 158 |
Accrued expenses |
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10. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Clients payments on Account | 120,833 | 143,525 |
Directors' loan accounts | 5,729 | 19,049 |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 173,110 | 176,669 |
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11. | OTHER FINANCIAL COMMITMENTS |
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The company had outstanding commitments in respect of operating leases as at 30th April 2021 of £134,175 (2020 £179,300). |
Sterling Partners Limited (Registered number: 06974542) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2021 |
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12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 April 2021 and 30 April 2020: |
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2021 | 2020 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced | ( |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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13. | RELATED PARTY DISCLOSURES |
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Within Inter-Company balance of £322,879 (2020 £312,118) there are balances due from/to companies with common directorship or ownership. Sterling Wealth Limited £80,500 (2020 £100,500). Sterling Partners International Limited £2,000 (2020 £13,268). DR & Co Properties Limited £281,900 |
(2020 £216,280).Plusbooks Limited -£41,521 (2020 -£17,930). |
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14. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Mr M S Seyed Mokhtassi B.Sc. F.C.A. CTA. |