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Company No: 12330412 (England and Wales)

STEPS ADVISORY LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

STEPS ADVISORY LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

STEPS ADVISORY LIMITED

COMPANY INFORMATION

For the financial year ended 31 May 2024
STEPS ADVISORY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2024
DIRECTOR Mr A C Keates
SECRETARY Mrs J P Keates
REGISTERED OFFICE Steps Barn Woolmersdon
North Petherton
Bridgwater
TA5 2AB
United Kingdom
COMPANY NUMBER 12330412 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
STEPS ADVISORY LIMITED

BALANCE SHEET

As at 31 May 2024
STEPS ADVISORY LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 25,456 27,092
25,456 27,092
Current assets
Debtors 4 131 135
Cash at bank and in hand 100,395 122,487
100,526 122,622
Creditors: amounts falling due within one year 5 ( 25,446) ( 29,263)
Net current assets 75,080 93,359
Total assets less current liabilities 100,536 120,451
Provision for liabilities ( 255) ( 343)
Net assets 100,281 120,108
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 100,280 120,107
Total shareholders' funds 100,281 120,108

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

Director's responsibilities:

The financial statements of Steps Advisory Limited (registered number: 12330412) were approved and authorised for issue by the Director on 17 September 2024. They were signed on its behalf by:

Mr A C Keates
Director
STEPS ADVISORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
STEPS ADVISORY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Steps Advisory Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Steps Barn Woolmersdon, North Petherton, Bridgwater, TA5 2AB, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and is recognised when the work has been carried out.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Leasehold improvements 5 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 June 2023 28,620 2,194 2,644 33,458
At 31 May 2024 28,620 2,194 2,644 33,458
Accumulated depreciation
At 01 June 2023 2,899 833 2,634 6,366
Charge for the financial year 1,286 340 10 1,636
At 31 May 2024 4,185 1,173 2,644 8,002
Net book value
At 31 May 2024 24,435 1,021 0 25,456
At 31 May 2023 25,721 1,361 10 27,092

4. Debtors

2024 2023
£ £
Prepayments 131 135

5. Creditors: amounts falling due within one year

2024 2023
£ £
Corporation tax 9,454 12,721
Other taxation and social security 4,530 3,540
Other creditors 11,462 13,002
25,446 29,263

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10 Ordinary shares of £ 0.10 each 1 1