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Registered number: 09977747
Stepping Stones Childrens Homes Limited
Financial Statements
For the Period 30 January 2023 to 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09977747
29 February 2024 29 January 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 253,219 263,845
253,219 263,845
CURRENT ASSETS
Debtors 5 126,257 493,333
Cash at bank and in hand 20,224 24,016
146,481 517,349
Creditors: Amounts Falling Due Within One Year 6 (212,498 ) (648,004 )
NET CURRENT ASSETS (LIABILITIES) (66,017 ) (130,655 )
TOTAL ASSETS LESS CURRENT LIABILITIES 187,202 133,190
Creditors: Amounts Falling Due After More Than One Year 7 (92,404 ) (100,008 )
NET ASSETS 94,798 33,182
CAPITAL AND RESERVES
Called up share capital 8 100 200
Profit and Loss Account 94,698 32,982
SHAREHOLDERS' FUNDS 94,798 33,182
Page 1
Page 2
For the period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M Dad
Director
28 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Stepping Stones Childrens Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09977747 . The registered office is 34 Church Street, Hyde, SK14 1JJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
...CONTINUED
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2.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 64 (2023: 68)
64 68
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 30 January 2023 193,988 4,850 113,942 312,780
As at 29 February 2024 193,988 4,850 113,942 312,780
Depreciation
As at 30 January 2023 - 2,398 46,537 48,935
Provided during the period - 515 10,111 10,626
As at 29 February 2024 - 2,913 56,648 59,561
Net Book Value
As at 29 February 2024 193,988 1,937 57,294 253,219
As at 30 January 2023 193,988 2,452 67,405 263,845
5. Debtors
29 February 2024 29 January 2023
£ £
Due within one year
Other debtors 126,257 493,333
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6. Creditors: Amounts Falling Due Within One Year
29 February 2024 29 January 2023
£ £
Trade creditors 20,022 23,443
Bank loans and overdrafts 13,574 13,574
Other creditors 36,514 303,887
Taxation and social security 142,388 307,100
212,498 648,004
7. Creditors: Amounts Falling Due After More Than One Year
29 February 2024 29 January 2023
£ £
Bank loans 92,404 100,008
8. Share Capital
29 February 2024 29 January 2023
£ £
Allotted, Called up and fully paid 100 200
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