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REGISTERED NUMBER: 10834965 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Step Associates Limited

Step Associates Limited (Registered number: 10834965)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Step Associates Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: M Dykes





REGISTERED OFFICE: Warner House
Salisbury
Hampshire
SP1 3TB





REGISTERED NUMBER: 10834965 (England and Wales)





ACCOUNTANTS: PD Accountancy Services Ltd
1 Post Office House
184 Bridge Road
Sarisbury Green
Southampton
Hampshire
SO31 7ED

Step Associates Limited (Registered number: 10834965)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,254 29,790

CURRENT ASSETS
Debtors 5 219,637 201,974
Cash at bank 18,556 49,925
238,193 251,899
CREDITORS
Amounts falling due within one year 6 252,256 248,877
NET CURRENT (LIABILITIES)/ASSETS (14,063 ) 3,022
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,191

32,812

CREDITORS
Amounts falling due after more than one
year

7

16,032

29,676
NET ASSETS 159 3,136

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 59 3,036
SHAREHOLDERS' FUNDS 159 3,136

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

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

Step Associates Limited (Registered number: 10834965)

Balance Sheet - continued
31 July 2024


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 28 March 2025 and were signed by:





M Dykes - Director


Step Associates Limited (Registered number: 10834965)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Step Associates 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.

Turnover
Turnover 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year 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.

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 year 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Step Associates Limited (Registered number: 10834965)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2023 32,528 28,099 60,627
Additions 10,669 - 10,669
Disposals (1,694 ) - (1,694 )
At 31 July 2024 41,503 28,099 69,602
DEPRECIATION
At 1 August 2023 14,703 16,134 30,837
Charge for year 6,521 2,991 9,512
Eliminated on disposal (1,001 ) - (1,001 )
At 31 July 2024 20,223 19,125 39,348
NET BOOK VALUE
At 31 July 2024 21,280 8,974 30,254
At 31 July 2023 17,825 11,965 29,790

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 4,491 28,099 32,590
DEPRECIATION
At 1 August 2023 2,912 16,134 19,046
Charge for year 394 2,991 3,385
At 31 July 2024 3,306 19,125 22,431
NET BOOK VALUE
At 31 July 2024 1,185 8,974 10,159
At 31 July 2023 1,579 11,965 13,544

Step Associates Limited (Registered number: 10834965)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. DEBTORS
31.7.24 31.7.23
£    £   
Amounts falling due within one year:
Trade debtors 35,679 32,878
Other debtors - 2,042
Directors' current accounts 12,214 -
Deferred tax asset 1,353 1,353
Prepayments 3,000 7,045
52,246 43,318

Amounts falling due after more than one year:
Amounts owed by associates 167,391 158,656

Aggregate amounts 219,637 201,974

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 10,648 10,648
Hire purchase contracts 3,914 2,189
Trade creditors 84,219 67,621
Tax 9,926 49,636
Social security and other taxes 13,800 28,010
VAT 124,740 84,002
Other creditors 3,659 3,328
Directors' current accounts - 2,093
Accrued expenses 1,350 1,350
252,256 248,877

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans - 2-5 years 9,183 19,199
Hire purchase contracts 6,849 10,477
16,032 29,676

8. RELATED PARTY DISCLOSURES

During the year in question the directors received dividends to the value of £21,690 (2023 £51,443 each).

During the year a loan of £2,700 was made to Step investment properties Ltd (£167,391 owed at year end). This loan was made at arms length and interest is charged on the loan over and above the HMRC recommended rate of interest. This is shown in the accounts as loans to associated company's.

9. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the directors by virtue of the equal shareholding in the issued share capital of the company.