REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
STEP PROPERTY GROUP LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
STEP PROPERTY GROUP LIMITED |
STEP PROPERTY GROUP LIMITED (REGISTERED NUMBER: 05760652) |
Contents of the Financial Statements |
for the year ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
STEP PROPERTY GROUP LIMITED |
Company Information |
for the year ended 31 July 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
STEP PROPERTY GROUP LIMITED (REGISTERED NUMBER: 05760652) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current (liabilities)/assets | ( |
) |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 7 |
Retained earnings |
Shareholders' funds |
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 were approved by the Board of Directors and authorised for issue on |
STEP PROPERTY GROUP LIMITED (REGISTERED NUMBER: 05760652) |
Notes to the Financial Statements |
for the year ended 31 July 2024 |
1. | Statutory information |
Step Property Group Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets. |
There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of. |
There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Fixed asset investment |
Fixed asset investments are stated at cost. |
3. | Employees and directors |
The average number of employees during the year was NIL (2023 - NIL). |
STEP PROPERTY GROUP LIMITED (REGISTERED NUMBER: 05760652) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
4. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 August 2023 |
and 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
STEP PROPERTY GROUP LIMITED (REGISTERED NUMBER: 05760652) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number | Class | Nominal Value | 2022 | 2021 |
867,260 | AA Ordinary | £0.005 | £4,336.30 | £4,336.30 |
96,363 | BB Ordinary | £0.005 | £481.82 | £481.82 |
867,260 | CC Ordinary | £0.005 | £4,336.30 | £4,336.30 |
96,363 | DD Ordinary | £0.005 | £481.82 | £481.82 |
165,598 | EE Ordinary | £0.005 | £827.99 | £827.99 |
75,272 | FF Ordinary | £0.005 | £376.36 | £376.36 |
722,754 | GG Ordinary | £0.005 | £3,613.77 | £3,613.77 |
867,260 | AAA Ordinary | £0.005 | £4,336.30 | £4,336.30 |
96,363 | BBB Ordinary | £0.005 | £481.82 | £481.82 |
867,260 | CCC Ordinary | £0.005 | £4,336.30 | £4,336.30 |
96,363 | DDD Ordinary | £0.005 | £481.82 | £481.82 |
165,598 | EEE Ordinary | £0.005 | £827.99 | £827.99 |
75,272 | FFF Ordinary | £0.005 | £376.36 | £376.36 |
722,754 | GGG Ordinary | £0.005 | £3,613.77 | £3,613.77 |
£28,908.70 | £28,908.70 |
8. | Directors' advances, credits and guarantees |
The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
9. | Ultimate controlling party |
The company is controlled by the directors. |