Steps Prosthetics Ltd 13952232 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the manufacture of prosthetic body parts. Digita Accounts Production Advanced 6.30.9574.0 true 13952232 2023-04-01 2024-03-31 13952232 2024-03-31 13952232 core:RetainedEarningsAccumulatedLosses 2024-03-31 13952232 core:ShareCapital 2024-03-31 13952232 core:CurrentFinancialInstruments 2024-03-31 13952232 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13952232 core:LandBuildings core:LongLeaseholdAssets 2024-03-31 13952232 core:OfficeEquipment 2024-03-31 13952232 core:PlantMachinery 2024-03-31 13952232 bus:SmallEntities 2023-04-01 2024-03-31 13952232 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13952232 bus:FullAccounts 2023-04-01 2024-03-31 13952232 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13952232 bus:Director1 2023-04-01 2024-03-31 13952232 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13952232 core:LandBuildings core:LongLeaseholdAssets 2023-04-01 2024-03-31 13952232 core:LeaseholdImprovements 2023-04-01 2024-03-31 13952232 core:OfficeEquipment 2023-04-01 2024-03-31 13952232 core:PlantMachinery 2023-04-01 2024-03-31 13952232 countries:AllCountries 2023-04-01 2024-03-31 13952232 2023-03-31 13952232 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 13952232 core:OfficeEquipment 2023-03-31 13952232 core:PlantMachinery 2023-03-31 13952232 2022-03-03 2023-03-31 13952232 2023-03-31 13952232 core:RetainedEarningsAccumulatedLosses 2023-03-31 13952232 core:ShareCapital 2023-03-31 13952232 core:CurrentFinancialInstruments 2023-03-31 13952232 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13952232 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 13952232 core:OfficeEquipment 2023-03-31 13952232 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 13952232

Steps Prosthetics Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Steps Prosthetics Ltd

(Registration number: 13952232)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

34,325

41,151

Current assets

 

Stocks

23,933

88,091

Debtors

4

60,042

64,066

Cash at bank and in hand

 

237,881

200,739

 

321,856

352,896

Creditors: Amounts falling due within one year

5

(262,305)

(466,938)

Net current assets/(liabilities)

 

59,551

(114,042)

Total assets less current liabilities

 

93,876

(72,891)

Provisions for liabilities

(6,242)

-

Net assets/(liabilities)

 

87,634

(72,891)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

87,534

(72,991)

Shareholders' funds/(deficit)

 

87,634

(72,891)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 25 July 2024 and signed on its behalf by:
 

 

Steps Prosthetics Ltd

(Registration number: 13952232)

Balance Sheet as at 31 March 2024 (continued)

.........................................

C M Shaw
Director

 

Steps Prosthetics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Statutory information

Steps Prosthetics Ltd is a private company, limited by shares, domiciled in England and Wales, company number 13952232. The registered office is at 40 Little London Road, Sheffield, S8 0UH.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value
added tax, returns, rebates and discounts. Revenue is recognised at the point of service delivery.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

 

Steps Prosthetics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

1

Accounting policies (continued)

Asset class

Depreciation method and rate

Plant and machinery

50% straight line basis

Leasehold improvements

20% straight line basis

Office equipment

50% straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 4).

 

Steps Prosthetics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

3

Tangible assets

Leasehold improvements
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

20,966

11,096

12,651

44,713

Additions

3,843

3,602

4,382

11,827

At 31 March 2024

24,809

14,698

17,033

56,540

Depreciation

At 1 April 2023

419

1,470

1,673

3,562

Charge for the year

4,643

6,320

7,690

18,653

At 31 March 2024

5,062

7,790

9,363

22,215

Carrying amount

At 31 March 2024

19,747

6,908

7,670

34,325

At 31 March 2023

20,547

9,626

10,978

41,151

4

Debtors

2024
£

2023
£

Trade debtors

16,255

9,376

Prepayments

32,178

26,023

Other debtors

11,609

28,667

60,042

64,066

 

Steps Prosthetics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

43,497

39,845

Other creditors

3,194

1,424

Taxation and social security

35,927

3,171

Accruals and deferred income

179,687

318,570

Directors' loan account

-

103,928

262,305

466,938

6

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £191,214 (2023 - £241,095).