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REGISTERED NUMBER: 09316090 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2025

for

First Step Designs Limited

First Step Designs Limited (Registered number: 09316090)






Contents of the Financial Statements
for the Year Ended 31st March 2025




Page

Balance Sheet 1

Notes to the Financial Statements 3


First Step Designs Limited (Registered number: 09316090)

Balance Sheet
31st March 2025

31.3.25 31.3.24
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 131,079 144,067
Investments 5 104,717 -
235,796 144,067

CURRENT ASSETS
Stocks 36,866 45,126
Debtors 6 91,790 106,876
Cash at bank 521,636 568,826
650,292 720,828
CREDITORS
Amounts falling due within one year 7 463,220 348,253
NET CURRENT ASSETS 187,072 372,575
TOTAL ASSETS LESS CURRENT
LIABILITIES

422,868

516,642

CREDITORS
Amounts falling due after more than
one year

8

(5,582

)

(18,255

)

PROVISIONS FOR LIABILITIES (32,770 ) (36,017 )
NET ASSETS 384,516 462,370

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 384,426 462,280
384,516 462,370

First Step Designs Limited (Registered number: 09316090)

Balance Sheet - continued
31st March 2025


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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22nd May 2025 and were signed by:





A Taylor - Director


First Step Designs Limited (Registered number: 09316090)

Notes to the Financial Statements
for the Year Ended 31st March 2025

1. STATUTORY INFORMATION

First Step Designs Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09316090

Registered office: Unit 12 Oldfields Business Park
Galveston Grove
Stoke-on-Trent
Staffordshire
ST4 3PE

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts.

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
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


First Step Designs Limited (Registered number: 09316090)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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 8 (2024 - 7 ) .

First Step Designs Limited (Registered number: 09316090)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2024 75,914 170,924 6,110 252,948
Additions 30,658 - 3,471 34,129
Disposals (8,775 ) - - (8,775 )
At 31st March 2025 97,797 170,924 9,581 278,302
DEPRECIATION
At 1st April 2024 30,779 75,621 2,481 108,881
Charge for year 18,046 23,826 1,775 43,647
Eliminated on disposal (5,305 ) - - (5,305 )
At 31st March 2025 43,520 99,447 4,256 147,223
NET BOOK VALUE
At 31st March 2025 54,277 71,477 5,325 131,079
At 31st March 2024 45,135 95,303 3,629 144,067

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st April 2024 - 45,917 45,917
Additions 23,450 - 23,450
At 31st March 2025 23,450 45,917 69,367
DEPRECIATION
Charge for year 5,863 11,479 17,342
At 31st March 2025 5,863 11,479 17,342
NET BOOK VALUE
At 31st March 2025 17,587 34,438 52,025
At 31st March 2024 - 45,917 45,917

First Step Designs Limited (Registered number: 09316090)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
Additions 104,717
At 31st March 2025 104,717
NET BOOK VALUE
At 31st March 2025 104,717

Cost or valuation at 31st March 2025 is represented by:

Other
investments
£   
Valuation in 2025 4,717
Cost 100,000
104,717

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 21,732 87,211
Other debtors 70,058 19,665
91,790 106,876

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Hire purchase contracts and finance leases (see note 9)
22,721

17,947
Trade creditors 64,691 71,709
Amounts owed to group undertakings 22,495 9,995
Taxation and social security 33,570 42,329
Other creditors 319,743 206,273
463,220 348,253

First Step Designs Limited (Registered number: 09316090)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.25 31.3.24
£    £   
Hire purchase contracts and finance leases (see note 9)
5,582

18,255

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts Finance leases
31.3.25 31.3.24 31.3.25 31.3.24
£    £    £    £   
Gross obligations repayable:
Within one year 4,466 - 18,255 20,185
Between one and five years 5,582 - - 19,068
10,048 - 18,255 39,253

Finance charges repayable:
Within one year - - - 2,238
Between one and five years - - - 813
- - - 3,051

Net obligations repayable:
Within one year 4,466 - 18,255 17,947
Between one and five years 5,582 - - 18,255
10,048 - 18,255 36,202

Non-cancellable operating leases
31.3.25 31.3.24
£    £   
Within one year 24,000 24,000
Between one and five years 6,000 30,000
30,000 54,000

First Step Designs Limited (Registered number: 09316090)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.3.25 31.3.24
£    £   
A Taylor
Balance outstanding at start of year - -
Amounts advanced 697 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 697 -

The directors loan has been provided interest free and has also been repaid within nine months of the year end.