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Registered Number: 10955783
England and Wales

 

 

 

STEP RECRUITMENT LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
Director Ms T R Millns
Registered Number 10955783
Registered Office Unit 2 Sherbrook Enterprise
100 Sherbrook Road
Daybrook
Nottingham
NG5 6AB
Accountants Equinox Accounting Limited
Unit 2 Sherbrook Road
Daybrook
Nottingham
Nottinghamshire
NG5 6AB
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 28,332    31,873 
Tangible fixed assets 4 241,695    50,404 
270,027    82,277 
Current assets      
Debtors 5 86,021    212,243 
Cash at bank and in hand 348,671    383,544 
434,692    595,787 
Creditors: amount falling due within one year 6 (112,412)   (190,284)
Net current assets 322,280    405,503 
 
Total assets less current liabilities 592,307    487,780 
Provisions for liabilities 7 (7,016)   (9,577)
Net assets 585,291    478,203 
 

Capital and reserves
     
Called up share capital 8 1,000    1,000 
Profit and loss account 584,291    477,203 
Shareholders' funds 585,291    478,203 
 


For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 09 December 2024 and were signed by:


-------------------------------
Ms T R Millns
Director
2
General Information
STEP Recruitment Limited is a private company, limited by shares, registered in England and Wales, registration number 10955783, registration address Unit 2 Sherbrook Enterprise, 100 Sherbrook Road, Daybrook, Nottingham, NG5 6AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 15 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 2% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 33.3% Straight Line
Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
2.

Average number of employees

Average number of employees during the year was 27 (2023 : 30).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 October 2023 53,119    53,119 
Additions  
Disposals  
At 30 September 2024 53,119    53,119 
Amortisation
At 01 October 2023 21,246    21,246 
Charge for year 3,541    3,541 
On disposals  
At 30 September 2024 24,787    24,787 
Net book values
At 30 September 2024 28,332    28,332 
At 30 September 2023 31,873    31,873 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 October 2023   55,264      35,849    91,113 
Additions 204,767      1,006    719    206,492 
Disposals        
At 30 September 2024 204,767    55,264    1,006    36,568    297,605 
Depreciation
At 01 October 2023   11,513      29,196    40,709 
Charge for year 1,023    10,938    63    3,177    15,201 
On disposals        
At 30 September 2024 1,023    22,451    63    32,373    55,910 
Net book values
Closing balance as at 30 September 2024 203,744    32,813    943    4,195    241,695 
Opening balance as at 01 October 2023   43,751      6,653    50,404 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 6,330    124,804 
Prepayments & Accrued Income 3,817    2,915 
Other Debtors 20,478    19,183 
Directors current account 42,128    65,341 
VAT 13,268   
86,021    212,243 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 2,478    3,634 
Corporation Tax 53,533    71,634 
PAYE & Social Security 7,277    10,531 
Pension Creditor 791    860 
Accrued Expenses 4,301    13,499 
Deferred Income 44,032    23,430 
VAT   66,696 
112,412    190,284 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 9,577   
Charged to Profit & Loss (2,561)   9,577 
7,016    9,577 

8.

Share Capital

Authorised
1,000 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
1,000 Ordinary shares of £1.00 each 1,000    1,000 
1,000    1,000 

9.

Director’s loan

Ms T R Millns

During the year a loan existed, made to Ms T R Millns, a director of the company. The loan is unsecured, has no fixed repayment date and carries interest at a rate as per HM Revenue and Customs.
The maximum outstanding during the year was £65,341.
The balance at the year end was £42,128 included in debtors (2023: £65,341 included in debtors)
3