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REGISTERED COMPANY NUMBER: 08198627 (England and Wales)
REGISTERED CHARITY NUMBER: 1159170





REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

STEPS NETWORK LIMITED

STEPS NETWORK LIMITED






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Report of the Trustees 1 to 2

Statement of Financial Activities 3

Balance Sheet 4

Notes to the Financial Statements 5 to 7

STEPS NETWORK LIMITED (REGISTERED NUMBER: 08198627)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's objects ('Objects') are specifically restricted to the following:

1. To act as a resource for young people up to the age of 25, who have been looked after by the Local Authority, by providing advice and assistance and organising programs of physical, educational and other activities as a means of:

(a) Advancing in life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals;

(b) Advancing education;

(c) Relieving unemployment;

(d) Providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons.

2. The relief of financial hardship for the public benefit of persons who have been homeless or are in danger of becoming homeless by the provision of advice or assistance including sign-posting to agencies or organisations for further support.

Public benefit
The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit and are confident that the objectives and activities undertaken by The Steps Network provide a significant benefit to the public and are in accordance with its charitable objects.

The trustees have given due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The charity has in previous years obtained £5,550 in donations. This will be used to commence the charity reserves, and the trustees are currently planning the commencement of activities.

FINANCIAL REVIEW
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific purpose should be maintained as a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised.

This level of reserves has been maintained throughout the year.

The charity has maintained a positive balance sheet in the period, all of which has been maintained as an unrestricted fund.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
The method of recruiting and appointing trustees is by majority decision of the trustees currently in office.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
08198627 (England and Wales)

Registered Charity number
1159170

Registered office
869 High Road
London
N12 8QA


STEPS NETWORK LIMITED (REGISTERED NUMBER: 08198627)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Trustees
Mr P Savva

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 1 May 2025 and signed on its behalf by:





Mr P Savva - Trustee

STEPS NETWORK LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   

EXPENDITURE ON


Other 612 734

NET INCOME/(EXPENDITURE) (612 ) (734 )


RECONCILIATION OF FUNDS
Total funds brought forward 206 940

TOTAL FUNDS CARRIED FORWARD (406 ) 206

STEPS NETWORK LIMITED (REGISTERED NUMBER: 08198627)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Unrestricted Total
fund funds
Notes £    £   
CURRENT ASSETS
Cash at bank 194 1,588

CREDITORS
Amounts falling due within one year 5 (600 ) (1,382 )

NET CURRENT ASSETS/(LIABILITIES) (406 ) 206

TOTAL ASSETS LESS CURRENT LIABILITIES (406 ) 206

NET ASSETS (406 ) 206
FUNDS 6
Unrestricted funds (406 ) 206
TOTAL FUNDS (406 ) 206

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that 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 charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 1 May 2025 and were signed on its behalf by:





Mr P Savva - Trustee

STEPS NETWORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

TAXATION
The charity is exempt from corporation tax on its charitable activities.

FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.


TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023.


3. STAFF COSTS

The charity had no employees for the year ended 30 September 2024 nor for the year ended 30 September 2023.

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   

EXPENDITURE ON


Other 734

NET INCOME/(EXPENDITURE) (734 )


RECONCILIATION OF FUNDS
Total funds brought forward 940

TOTAL FUNDS CARRIED FORWARD 206


STEPS NETWORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Accrued expenses 600 1,382

6. MOVEMENT IN FUNDS
Net
At movement At
1.10.23 in funds 30.9.24
£    £    £   
Unrestricted funds
General fund 206 (612 ) (406 )

TOTAL FUNDS 206 (612 ) (406 )

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund - (612 ) (612 )

TOTAL FUNDS - (612 ) (612 )


Comparatives for movement in funds

Net
At movement At
1.10.22 in funds 30.9.23
£    £    £   
Unrestricted funds
General fund 940 (734 ) 206

TOTAL FUNDS 940 (734 ) 206

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund - (734 ) (734 )

TOTAL FUNDS - (734 ) (734 )

A current year 12 months and prior year 12 months combined position is as follows:

Net
At movement At
1.10.22 in funds 30.9.24
£    £    £   
Unrestricted funds
General fund 940 (1,346 ) (406 )

TOTAL FUNDS 940 (1,346 ) (406 )

STEPS NETWORK LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund - (1,346 ) (1,346 )

TOTAL FUNDS - (1,346 ) (1,346 )

7. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 September 2024.