IRIS Accounts Production v25.1.3.33 07586419 Board of Directors Board of Directors 1.4.24 31.3.25 31.3.25 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075864192024-03-31075864192025-03-31075864192024-04-012025-03-31075864192023-03-31075864192023-04-012024-03-31075864192024-03-3107586419ns15:EnglandWales2024-04-012025-03-3107586419ns14:PoundSterling2024-04-012025-03-3107586419ns10:Director12024-04-012025-03-3107586419ns10:Director22024-04-012025-03-3107586419ns10:PrivateLimitedCompanyLtd2024-04-012025-03-3107586419ns10:SmallEntities2024-04-012025-03-3107586419ns10:AuditExempt-NoAccountantsReport2024-04-012025-03-3107586419ns10:SmallCompaniesRegimeForDirectorsReport2024-04-012025-03-3107586419ns10:SmallCompaniesRegimeForAccounts2024-04-012025-03-3107586419ns10:FullAccounts2024-04-012025-03-310758641912024-04-012025-03-3107586419ns10:RegisteredOffice2024-04-012025-03-3107586419ns5:CurrentFinancialInstruments2025-03-3107586419ns5:CurrentFinancialInstruments2024-03-3107586419ns5:Non-currentFinancialInstruments2025-03-3107586419ns5:Non-currentFinancialInstruments2024-03-3107586419ns5:ShareCapital2025-03-3107586419ns5:ShareCapital2024-03-3107586419ns5:RetainedEarningsAccumulatedLosses2025-03-3107586419ns5:RetainedEarningsAccumulatedLosses2024-03-3107586419ns5:NetGoodwill2024-04-012025-03-3107586419ns5:IntangibleAssetsOtherThanGoodwill2024-04-012025-03-3107586419ns5:LongLeaseholdAssetsns5:LandBuildings2024-04-012025-03-3107586419ns5:FurnitureFittings2024-04-012025-03-3107586419ns5:ComputerEquipment2024-04-012025-03-3107586419ns5:NetGoodwill2024-03-3107586419ns5:NetGoodwill2025-03-3107586419ns5:NetGoodwill2024-03-3107586419ns5:LongLeaseholdAssetsns5:LandBuildings2024-03-3107586419ns5:FurnitureFittings2024-03-3107586419ns5:ComputerEquipment2024-03-3107586419ns5:LongLeaseholdAssetsns5:LandBuildings2025-03-3107586419ns5:FurnitureFittings2025-03-3107586419ns5:ComputerEquipment2025-03-3107586419ns5:LongLeaseholdAssetsns5:LandBuildings2024-03-3107586419ns5:FurnitureFittings2024-03-3107586419ns5:ComputerEquipment2024-03-3107586419ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-3107586419ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3107586419ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2025-03-3107586419ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-03-3107586419ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2025-03-3107586419ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-31075864191ns10:Director12024-03-31075864191ns10:Director12023-03-31075864191ns10:Director12024-04-012025-03-31075864191ns10:Director12023-04-012024-03-31075864191ns10:Director12025-03-31075864191ns10:Director12024-03-3107586419ns10:Director222024-03-3107586419ns10:Director222023-03-3107586419ns10:Director222024-04-012025-03-3107586419ns10:Director222023-04-012024-03-3107586419ns10:Director222025-03-3107586419ns10:Director222024-03-31
REGISTERED NUMBER: 07586419 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

FIRST STEPS CORNWALL LTD

FIRST STEPS CORNWALL LTD (REGISTERED NUMBER: 07586419)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIRST STEPS CORNWALL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: Mrs J A Elsworth
Mrs E Williams





REGISTERED OFFICE: First Steps
Porth Bean Road
Newquay
Cornwall
TR7 3JF





REGISTERED NUMBER: 07586419 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

FIRST STEPS CORNWALL LTD (REGISTERED NUMBER: 07586419)

BALANCE SHEET
31 MARCH 2025

31.3.25 31.3.24
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 41,039 39,112
41,039 39,112

CURRENT ASSETS
Debtors 6 200,359 193,500
Cash at bank 155,813 135,990
356,172 329,490
CREDITORS
Amounts falling due within one
year

7

96,475

79,407
NET CURRENT ASSETS 259,697 250,083
TOTAL ASSETS LESS CURRENT
LIABILITIES

300,736

289,195

CREDITORS
Amounts falling due after more
than one year

8

(2,651

)

(13,074

)

PROVISIONS FOR LIABILITIES (9,229 ) (8,040 )
NET ASSETS 288,856 268,081

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 288,656 267,881
288,856 268,081

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

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.

FIRST STEPS CORNWALL LTD (REGISTERED NUMBER: 07586419)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 21 May 2025 and were signed on its behalf by:




Mrs E Williams - Director



Mrs J A Elsworth - Director


FIRST STEPS CORNWALL LTD (REGISTERED NUMBER: 07586419)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

First Steps Cornwall Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

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

FIRST STEPS CORNWALL LTD (REGISTERED NUMBER: 07586419)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 60 (2024 - 61 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 170,000
AMORTISATION
At 1 April 2024
and 31 March 2025 170,000
NET BOOK VALUE
At 31 March 2025 -
At 31 March 2024 -

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2024 19,686 137,027 25,081 181,794
Additions - 16,471 3,968 20,439
Disposals - (1,454 ) (2,398 ) (3,852 )
At 31 March 2025 19,686 152,044 26,651 198,381
DEPRECIATION
At 1 April 2024 13,595 115,233 13,854 142,682
Charge for year 1,968 9,208 5,806 16,982
Eliminated on disposal - (1,123 ) (1,199 ) (2,322 )
At 31 March 2025 15,563 123,318 18,461 157,342
NET BOOK VALUE
At 31 March 2025 4,123 28,726 8,190 41,039
At 31 March 2024 6,091 21,794 11,227 39,112

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 1,753 6,422
Directors' loan accounts 189,081 178,407
Prepayments 9,525 8,671
200,359 193,500

FIRST STEPS CORNWALL LTD (REGISTERED NUMBER: 07586419)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans and overdrafts (see note 9)
10,440

10,200
Tax 66,288 42,098
Social security and other
taxes

13,812

21,945
Other creditors 1,350 783
Accrued expenses 4,585 4,381
96,475 79,407

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.25 31.3.24
£    £   
Bank loans (see note 9) 2,651 13,074

9. LOANS

An analysis of the maturity of loans is given below:

31.3.25 31.3.24
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,440 10,200

Amounts falling due between one and two years:
Bank loans - 1-2 years 2,651 10,440

Amounts falling due between two and five years:
Bank loans - 2-5 years - 2,634

The company received a bounce back loan in May 2020 due to the Covid 19 pandemic. The loan was for £50,000 and is guaranteed 100% by the government. Repayments commenced in June 2021 and interest has been shown in the profit and loss account.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25 31.3.24
£    £   
Mrs E Williams
Balance outstanding at start of year 89,203 97,192
Amounts advanced 106,899 101,523
Amounts repaid (101,562 ) (109,512 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 94,540 89,203

FIRST STEPS CORNWALL LTD (REGISTERED NUMBER: 07586419)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs J A Elsworth
Balance outstanding at start of year 89,203 97,192
Amounts advanced 106,899 101,523
Amounts repaid (101,562 ) (109,512 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 94,540 89,203

The total amounts owed by the directors of £189,081 (2024: £178,406) are repayable on demand and are included in Debtors: Amounts falling due within one year.

Interest has been charged on the overdrawn loan accounts at the rate of 2.25% (2024: 2.25%) per annum.

11. RELATED PARTY DISCLOSURES

During the year the company incurred rental expenses of £24,000 (2024: £24,000) from a partnership under the common control of the directors J A Elsworth and E Williams.

The company was controlled throughout the year by the directors, by virtue of the fact, they own 100% of the company's share capital.