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REGISTERED NUMBER: 10870693 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

40 STEPS PROPERTY SERVICES LIMITED

40 STEPS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 10870693)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


40 STEPS PROPERTY SERVICES LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTORS: Ms M J A Dovey
G Fuller





REGISTERED OFFICE: 3 Kenilworth Road
Leamington Spa
Warwickshire
CV32 5TJ





REGISTERED NUMBER: 10870693 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

40 STEPS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 10870693)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,335
Investment property 5 383,000 383,000
383,000 384,335

CURRENT ASSETS
Debtors 6 2 11,411
Cash at bank 5,126 5,939
5,128 17,350
CREDITORS
Amounts falling due within one year 7 139,721 152,302
NET CURRENT LIABILITIES (134,593 ) (134,952 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

248,407

249,383

CREDITORS
Amounts falling due after more than one
year

8

(244,800

)

(244,800

)

PROVISIONS FOR LIABILITIES (5,798 ) (5,798 )
NET LIABILITIES (2,191 ) (1,215 )

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 9 24,716 24,716
Retained earnings (26,909 ) (25,933 )
(2,191 ) (1,215 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

40 STEPS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 10870693)

BALANCE SHEET - continued
31 July 2023


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 Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:





G Fuller - Director


40 STEPS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 10870693)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023


1. STATUTORY INFORMATION

40 Steps Property Services 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 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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 etc - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

40 STEPS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 10870693)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 5,343
DEPRECIATION
At 1 August 2022 4,008
Charge for year 1,335
At 31 July 2023 5,343
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 1,335

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 383,000
NET BOOK VALUE
At 31 July 2023 383,000
At 31 July 2022 383,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2023 383,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2 11,411

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 139,721 152,302

40 STEPS PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 10870693)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 244,800 244,800

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 244,800 244,800

9. RESERVES
Revaluation
reserve
£   
At 1 August 2022
and 31 July 2023 24,716

10. RELATED PARTY DISCLOSURES

At 31 July 2023 other creditors included loans made to the company by the directors of £325 (2022: £nil). The loans are interest free and have no fixed date for repayment.

Last year, the directors current account became overdrawn by £11,409. This year, the maximum amount was £11,409 and the year end balance was £nil.

Other creditors includes a loan from MJD Treasury Solutions Ltd of £138,591 (2022 £150,000). This company is also controlled by the directors.

11. CONTROLLING PARTY

The ultimate controlling party is G Fuller and Ms M J A Dovey.