Company registration number 06542082 (England and Wales)
Stepform Limited
Unaudited Financial Statements
for the Year Ended 31 March 2024
Pages for filing with Registrar
Stepform Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Stepform Limited
Balance Sheet
as at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
27,445
42,082
Tangible assets
4
165,645
172,449
193,090
214,531
Current assets
Stocks
34,618
22,268
Debtors
5
238,017
312,831
Cash at bank and in hand
556,277
458,420
828,912
793,519
Creditors: amounts falling due within one year
6
(248,375)
(236,067)
Net current assets
580,537
557,452
Total assets less current liabilities
773,627
771,983
Creditors: amounts falling due after more than one year
7
(12,500)
(22,500)
Provisions for liabilities
(3,316)
(3,813)
Net assets
757,811
745,670
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
757,711
745,570
Total equity
757,811
745,670

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Stepform Limited
Balance Sheet (continued)
as at 31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 October 2024 and are signed on its behalf by:
Mr B J McCabe
Mr C J Hedley
Director
Director
Company registration number 06542082 (England and Wales)
Stepform Limited
Notes to the Financial Statements
for the Year Ended 31 March 2024
- 3 -
1
Accounting policies
Company information

Stepform Limited is a private company limited by shares incorporated in England and Wales. The registered office is 76 Imeary Street, South Shields, Tyne and Wear, NE33 4EG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities. Sales are recognised when ownership of the goods has been transferred to the customer.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
not depreciated
Fixtures, fittings & equipment
5 year straight line
Computer equipment
3 year straight line
Motor vehicles
5 year straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stepform Limited
Notes to the Financial Statements (continued)
for the Year Ended 31 March 2024
1
Accounting policies
(continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the work in progress to its present location and condition.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

1.10
Retirement benefits

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

Stepform Limited
Notes to the Financial Statements (continued)
for the Year Ended 31 March 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
7
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
146,371
Amortisation and impairment
At 1 April 2023
104,289
Amortisation charged for the year
14,637
At 31 March 2024
118,926
Carrying amount
At 31 March 2024
27,445
At 31 March 2023
42,082
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
152,383
37,803
190,186
Additions
-
0
461
461
At 31 March 2024
152,383
38,264
190,647
Depreciation and impairment
At 1 April 2023
-
0
17,737
17,737
Depreciation charged in the year
-
0
7,265
7,265
At 31 March 2024
-
0
25,002
25,002
Carrying amount
At 31 March 2024
152,383
13,262
165,645
At 31 March 2023
152,383
20,066
172,449
Stepform Limited
Notes to the Financial Statements (continued)
for the Year Ended 31 March 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
234,986
291,939
Other debtors
3,031
20,892
238,017
312,831
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
29,974
55,491
Taxation and social security
85,352
60,455
Other creditors
123,049
110,121
248,375
236,067
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,500
22,500
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary Shares of £1 each
100
100
2024-03-312023-04-01false09 October 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr B J McCabeMr C J Hedleyfalsefalse065420822023-04-012024-03-31065420822024-03-31065420822023-03-3106542082core:NetGoodwill2024-03-3106542082core:NetGoodwill2023-03-3106542082core:LandBuildings2024-03-3106542082core:OtherPropertyPlantEquipment2024-03-3106542082core:LandBuildings2023-03-3106542082core:OtherPropertyPlantEquipment2023-03-3106542082core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3106542082core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3106542082core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3106542082core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3106542082core:CurrentFinancialInstruments2024-03-3106542082core:CurrentFinancialInstruments2023-03-3106542082core:ShareCapital2024-03-3106542082core:ShareCapital2023-03-3106542082core:RetainedEarningsAccumulatedLosses2024-03-3106542082core:RetainedEarningsAccumulatedLosses2023-03-3106542082bus:Director12023-04-012024-03-3106542082bus:Director22023-04-012024-03-3106542082core:Goodwill2023-04-012024-03-3106542082core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-012024-03-3106542082core:FurnitureFittings2023-04-012024-03-3106542082core:ComputerEquipment2023-04-012024-03-3106542082core:MotorVehicles2023-04-012024-03-31065420822022-04-012023-03-3106542082core:NetGoodwill2023-03-3106542082core:NetGoodwill2023-04-012024-03-3106542082core:LandBuildings2023-03-3106542082core:OtherPropertyPlantEquipment2023-03-31065420822023-03-3106542082core:LandBuildings2023-04-012024-03-3106542082core:OtherPropertyPlantEquipment2023-04-012024-03-3106542082core:Non-currentFinancialInstruments2024-03-3106542082core:Non-currentFinancialInstruments2023-03-3106542082bus:PrivateLimitedCompanyLtd2023-04-012024-03-3106542082bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106542082bus:FRS1022023-04-012024-03-3106542082bus:AuditExemptWithAccountantsReport2023-04-012024-03-3106542082bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP