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REGISTERED NUMBER: 05976882 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

FIRST STEPS PROPERTY LIMITED

FIRST STEPS PROPERTY LIMITED (REGISTERED NUMBER: 05976882)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FIRST STEPS PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr A Bain
Mrs J Bain
Ms S Fahey





REGISTERED OFFICE: 29 Glover Road
Pinner
Middlesex
HA5 1LQ





REGISTERED NUMBER: 05976882 (England and Wales)





ACCOUNTANTS: EV Accountants Limited
Chartered Accountants
Unit 201, Second Floor
Metroline House
118-122 College Road
Harrow
Middlesex
HA1 1BQ

FIRST STEPS PROPERTY LIMITED (REGISTERED NUMBER: 05976882)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,000,488 1,000,488
Investments 5 100 100
1,000,588 1,000,588

CURRENT ASSETS
Cash at bank 1,131 7,486

CREDITORS
Amounts falling due within one year 6 46,622 33,021
NET CURRENT LIABILITIES (45,491 ) (25,535 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

955,097

975,053

CREDITORS
Amounts falling due after more than one
year

7

656,630

676,545
NET ASSETS 298,467 298,508

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 298,367 298,408
SHAREHOLDERS' FUNDS 298,467 298,508

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.

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 3 January 2025 and were signed on its behalf by:





Mr A Bain - Director


FIRST STEPS PROPERTY LIMITED (REGISTERED NUMBER: 05976882)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

First Steps Property 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.

Going concern
The financial statements have been prepared on the going concern basis and the directors confirm their belief in the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements.

Turnover
Revenue 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issue' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year not amortised.

Clarification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at an amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

FIRST STEPS PROPERTY LIMITED (REGISTERED NUMBER: 05976882)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. PROPERTY, PLANT AND EQUIPMENT
Land and
buildings
£   
COST
At 1 September 2023
and 31 August 2024 1,000,488
NET BOOK VALUE
At 31 August 2024 1,000,488
At 31 August 2023 1,000,488

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 100
NET BOOK VALUE
At 31 August 2024 100
At 31 August 2023 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to associates 23,678 15,078
Other creditors 22,944 17,943
46,622 33,021

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 656,630 676,545

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 656,630 676,545

The bank loans are secured by way of fixed and floating charges over all the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary Shares £1 100 100