12 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07108264 2023-04-01 2024-03-31 07108264 2024-03-31 07108264 2023-03-31 07108264 2022-04-01 2023-03-31 07108264 2023-03-31 07108264 2022-03-31 07108264 core:FurnitureFittings 2023-04-01 2024-03-31 07108264 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 07108264 bus:Director1 2023-04-01 2024-03-31 07108264 core:FurnitureFittings 2023-03-31 07108264 core:FurnitureFittings 2024-03-31 07108264 core:WithinOneYear 2024-03-31 07108264 core:WithinOneYear 2023-03-31 07108264 core:ShareCapital 2024-03-31 07108264 core:ShareCapital 2023-03-31 07108264 core:RetainedEarningsAccumulatedLosses 2024-03-31 07108264 core:RetainedEarningsAccumulatedLosses 2023-03-31 07108264 core:FurnitureFittings 2023-03-31 07108264 bus:SmallEntities 2023-04-01 2024-03-31 07108264 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07108264 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07108264 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07108264 bus:FullAccounts 2023-04-01 2024-03-31 07108264 bus:OrdinaryShareClass1 2024-03-31 07108264 bus:OrdinaryShareClass1 2023-03-31 07108264 core:OfficeEquipment 2023-04-01 2024-03-31 07108264 core:OfficeEquipment 2024-03-31 07108264 core:OfficeEquipment 2023-03-31
COMPANY REGISTRATION NUMBER: 07108264
STEPPING STONES LETTING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2024
STEPPING STONES LETTING LIMITED
BALANCE SHEET
31 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
4,818
6,429
CURRENT ASSETS
Debtors
6
10,008
13,457
Cash at bank and in hand
249,172
234,210
--------
--------
259,180
247,667
CREDITORS: amounts falling due within one year
7
( 182,780)
( 135,561)
--------
--------
NET CURRENT ASSETS
76,400
112,106
-------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
81,218
118,535
PROVISIONS
Taxation including deferred tax
( 1,222)
( 1,222)
-------
--------
NET ASSETS
79,996
117,313
-------
--------
CAPITAL AND RESERVES
Called up share capital
8
2
2
Profit and loss account
79,994
117,311
-------
--------
SHAREHOLDERS FUNDS
79,996
117,313
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 September 2024 , and are signed on behalf of the board by:
B D R Jones
Director
Company registration number: 07108264
STEPPING STONES LETTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Crossways Business Centre, Bicester Road, Kingswood, Aylesbury, Bucks, HP18 0RA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents the total invoice value, excluding value added tax, of services rendered during the year.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on a discounted/an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Furniture and fixtures
-
15% reducing balance
Office equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2023: 12 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
20,278
12,850
33,128
-------
-------
-------
Depreciation
At 1 April 2023
16,399
10,300
26,699
Charge for the year
582
1,029
1,611
-------
-------
-------
At 31 March 2024
16,981
11,329
28,310
-------
-------
-------
Carrying amount
At 31 March 2024
3,297
1,521
4,818
-------
-------
-------
At 31 March 2023
3,879
2,550
6,429
-------
-------
-------
6. Debtors
2024
2023
£
£
Other debtors
10,008
13,457
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,533
5,874
Corporation tax
114,791
74,191
Social security and other taxes
55,238
49,727
Other creditors
8,218
5,769
--------
--------
182,780
135,561
--------
--------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
9. Other financial commitments
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £130,950 (2023 £168,850). ).