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REGISTERED NUMBER: 02575867 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2024 TO 28 FEBRUARY 2025

FOR

STEPLEE LIMITED

STEPLEE LIMITED (REGISTERED NUMBER: 02575867)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2024 TO 28 FEBRUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STEPLEE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2024 TO 28 FEBRUARY 2025







DIRECTOR: S M Burrows



SECRETARY: S M Burrows



REGISTERED OFFICE: Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ



REGISTERED NUMBER: 02575867 (England and Wales)



ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ



SOLICITORS: Wannops LLP
South Pallant House
Chichester
West Sussex
PO19 1TH

STEPLEE LIMITED (REGISTERED NUMBER: 02575867)

BALANCE SHEET
28 FEBRUARY 2025

2025 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 - -
Investments 5 56,000 135,252
Investment property 6 - 1,000,000
56,000 1,135,252

CURRENT ASSETS
Debtors 7 180,000 -
Cash at bank 986,317 2,000
1,166,317 2,000
CREDITORS
Amounts falling due within one year 8 101,924 23,187
NET CURRENT ASSETS/(LIABILITIES) 1,064,393 (21,187 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,120,393

1,114,065

CREDITORS
Amounts falling due after more than one year 9 - (308,463 )

PROVISIONS FOR LIABILITIES 11 - (107,542 )
NET ASSETS 1,120,393 698,060

CAPITAL AND RESERVES
Called up share capital 15,000 15,000
Capital redemption reserve 30,000 30,000
Non distributable retained profit reserve - 652,654
Retained earnings 1,075,393 406
SHAREHOLDERS' FUNDS 1,120,393 698,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

STEPLEE LIMITED (REGISTERED NUMBER: 02575867)

BALANCE SHEET - continued
28 FEBRUARY 2025


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 director and authorised for issue on 13 March 2025 and were signed by:





S M Burrows - Director


STEPLEE LIMITED (REGISTERED NUMBER: 02575867)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2024 TO 28 FEBRUARY 2025


1. STATUTORY INFORMATION

Steplee 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.

The financial statements are presented in sterling (£), which is also the functional currency of the company.

Going concern
During the period the investment property held by the company was sold. The subsidiary company and Steplee Limited both ceased to trade as at 31/12/2024 and the subsidiary company will be dissolved. It is the intention that Steplee Limited will be placed into a members voluntary liquidation after the period end. Therefore the financial statements have been prepared on a basis other than going concern.

Preparation of consolidated financial statements
The financial statements contain information about Steplee Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Revenue
Revenue represents rental income on the freehold property of the company and management charges, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are held at cost less impairments.

Investment property
Investment property was held at fair value and disposed of during the period.

Financial instruments
Financial instruments are classified by the directors as basic following the conditions in FRS 102 Section 1A. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


STEPLEE LIMITED (REGISTERED NUMBER: 02575867)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2024 TO 28 FEBRUARY 2025


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£
COST
At 1 January 2024 1,640
Disposals (1,640 )
At 28 February 2025 -
DEPRECIATION
At 1 January 2024 1,640
Eliminated on disposal (1,640 )
At 28 February 2025 -
NET BOOK VALUE
At 28 February 2025 -
At 31 December 2023 -

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 January 2024 135,252
Impairments (79,252 )
At 28 February 2025 56,000
NET BOOK VALUE
At 28 February 2025 56,000
At 31 December 2023 135,252

STEPLEE LIMITED (REGISTERED NUMBER: 02575867)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2024 TO 28 FEBRUARY 2025


6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 January 2024 1,000,000
Disposals (1,000,000 )
At 28 February 2025 -
NET BOOK VALUE
At 28 February 2025 -
At 31 December 2023 1,000,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2023
£ £
Other debtors 180,000 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2023
£ £
Bank loans and overdrafts - 7,001
Corporation tax 101,924 12,301
Directors' current accounts - 1,575
Accruals and deferred income - 2,310
101,924 23,187

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2023
£ £
Bank loans - 1-2 years - 7,001
Bank loans - 2-5 years - 49,224
Amounts owed to group undertakings - 252,238
- 308,463

10. SECURED DEBTS

The following secured debts are included within creditors:

2025 2023
£ £
Bank loans - 63,226

11. PROVISIONS FOR LIABILITIES
2025 2023
£ £
Deferred tax - 107,542

STEPLEE LIMITED (REGISTERED NUMBER: 02575867)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2024 TO 28 FEBRUARY 2025


11. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 January 2024 107,542
Accelerated capital allowances (107,542 )
Balance at 28 February 2025 -