IRIS Accounts Production v25.1.3.33 02851575 Board of Directors 31.12.24 1.1.24 31.12.24 31.12.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. true true false true true false false false true false Fair value model Ordinary shares 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh028515752023-12-31028515752024-12-31028515752024-01-012024-12-31028515752022-12-31028515752023-01-012023-12-31028515752023-12-3102851575ns15:EnglandWales2024-01-012024-12-3102851575ns14:PoundSterling2024-01-012024-12-3102851575ns10:Director12024-01-012024-12-3102851575ns10:Director22024-01-012024-12-3102851575ns10:Consolidated2024-12-3102851575ns10:ConsolidatedGroupCompanyAccounts2024-01-012024-12-3102851575ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3102851575ns10:Consolidatedns10:MediumEntities2024-01-012024-12-3102851575ns10:Consolidatedns10:Audited2024-01-012024-12-3102851575ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-01-012024-12-3102851575ns10:Medium-sizedCompaniesRegimeForAccounts2024-01-012024-12-3102851575ns10:Consolidated2024-01-012024-12-3102851575ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-01-012024-12-3102851575ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2024-01-012024-12-3102851575ns10:FullAccounts2024-01-012024-12-310285157512024-01-012024-12-3102851575ns10:OrdinaryShareClass12024-01-012024-12-3102851575ns10:CompanySecretary12024-01-012024-12-3102851575ns10:RegisteredOffice2024-01-012024-12-3102851575ns10:Consolidated2023-01-012023-12-3102851575ns5:CurrentFinancialInstruments2024-12-3102851575ns5:CurrentFinancialInstruments2023-12-3102851575ns5:ShareCapital2024-12-3102851575ns5:ShareCapital2023-12-3102851575ns5:RevaluationReserve2024-12-3102851575ns5:RevaluationReserve2023-12-3102851575ns5:RetainedEarningsAccumulatedLosses2024-12-3102851575ns5:RetainedEarningsAccumulatedLosses2023-12-3102851575ns5:ShareCapital2022-12-3102851575ns5:RetainedEarningsAccumulatedLossesns5:PreviouslyStatedAmount2022-12-3102851575ns5:RevaluationReserve2022-12-3102851575ns5:PreviouslyStatedAmount2022-12-3102851575ns5:RetainedEarningsAccumulatedLossesns5:PriorPeriodIncreaseDecrease2023-01-012023-12-3102851575ns5:PriorPeriodIncreaseDecrease2023-01-012023-12-3102851575ns5:RetainedEarningsAccumulatedLosses2022-12-3102851575ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3102851575ns5:RevaluationReserve2023-01-012023-12-3102851575ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-3102851575ns5:RevaluationReserve2024-01-012024-12-3102851575ns5:NetGoodwill2024-01-012024-12-3102851575ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3102851575ns5:PlantMachinery2024-01-012024-12-3102851575ns5:FurnitureFittings2024-01-012024-12-3102851575ns5:MotorVehicles2024-01-012024-12-3102851575ns5:ComputerEquipment2024-01-012024-12-3102851575ns5:LandBuildings2023-12-3102851575ns5:PlantMachinery2023-12-3102851575ns5:FurnitureFittings2023-12-3102851575ns5:LandBuildings2024-01-012024-12-3102851575ns5:LandBuildings2024-12-3102851575ns5:PlantMachinery2024-12-3102851575ns5:FurnitureFittings2024-12-3102851575ns5:LandBuildings2023-12-3102851575ns5:PlantMachinery2023-12-3102851575ns5:FurnitureFittings2023-12-3102851575ns5:CostValuation2023-12-3102851575ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3102851575ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3102851575ns5:DeferredTaxation2023-12-3102851575ns5:DeferredTaxation2024-01-012024-12-3102851575ns5:DeferredTaxation2024-12-3102851575ns10:OrdinaryShareClass12024-12-3102851575ns5:RetainedEarningsAccumulatedLosses2023-12-3102851575ns5:RevaluationReserve2023-12-31
REGISTERED NUMBER: 02851575 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 December 2024

for

STAIRWAYS (HOLDINGS) LIMITED

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)






Contents of the Consolidated Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 18


STAIRWAYS (HOLDINGS) LIMITED

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr N C Stevens
K J Wood



SECRETARY: K J Wood



REGISTERED OFFICE: Southam Drive
Southam
Warwickshire
CV470FA



REGISTERED NUMBER: 02851575 (England and Wales)



SENIOR STATUTORY AUDITOR: Adele Lawton



AUDITORS: Lawton Bradford Accountants Ltd
Chartered Certified Accountants and
Statutory Auditors
7 Marconi Gate
Stafford
Staffordshire
ST18 0FZ

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Group Strategic Report
for the Year Ended 31 December 2024

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS
The Directors are realistic with the 2024 performance of the group and are optimistic for 2025, with turnover reduced by 21.55% compared to 2023 it has been a challenging thought-provoking year. Raw material cost were steady throughout the year, however increased labour and utility costs have, together with reduced turnover, contributed to reduced profitability. Pipeline has seen an improvement going into 2025 however with the interest rate remaining high and new build house sales remaining low the construction industry has endured a drought. The government incentives introduced will see an improvement in demand across the industry and we are confident our strategies will increase our market share.

As important as ever, the group remains a strong advocator of KPI's which are deployed to monitor and manage the daily operations, as well as provide the business with clear direction and benchmarks when assessing annual performance, growth, profitability and returns on investments. Non-financial performance indicators are percentage measures for customer growth, movements in customer accounts and debtor days.

The Directors are realistic about 2025 performance and are looking to mitigate risk by increasing due diligence with new and existing customers, re launching Rapidor - Door Kit, investment in employees and maintaining our reputable high-quality service and product delivery.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks identified by the directors are credit risk. The company manages these risks by trading with creditworthy customers and financing its operations through retained profits.

Reputation, competition and market conditions risks are managed by continuous improvement and innovation, ensuring we deliver on quality and service securing new and recurring contracts. The current economic climate creates uncertainty that could potentially impact on the level of demand whilst this presents a risk to the business the directors will continue to closely monitor the position as the implications become more known to ensure that the group will continue to trade successfully.

Recruitment and employee retention risks are managed by employee engagement, continuous training and ensuring a safe working environment. Employee initiatives are explored on a regular basis as well as benchmarking salaries to ensure we remain competitive.

ON BEHALF OF THE BOARD:





K J Wood - Director


22 May 2025

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Report of the Directors
for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of the manufacture of timber and joinery products for the construction industry

The principal activities of the company continued to be that of a holding company and property management company.

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2024 will be £36,000.

RESEARCH AND DEVELOPMENT
The group carries out research and development with the aim of modernising and stream lining the sales systems and processes for the bespoke products manufactured.

FUTURE DEVELOPMENTS
The group continues to develop its strategy of researching the availability and feasibility of new building materials and the development of the manufacturing processes with the aim to improve quality and subsequently profitability.

The directors remain confident that the strategy implemented to increase sales and improve profitability will have a positive effect and are committed to invest into its continued success.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Mr N C Stevens
K J Wood

FINANCIAL INSTRUMENTS
The business' principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to finance the business' operations.

Credit risk arises from customers failing to meet their obligation under contracts of sale to pay. In order to minimise this risk, deferred terms are only granted to those customers who demonstrate an appropriate payment history and satisfy credit worthiness procedures. The company also maintains strong relationships with its key customers through its sales team.

Creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.


STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Report of the Directors
for the Year Ended 31 December 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Lawton Bradford Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





K J Wood - Director


22 May 2025

Report of the Independent Auditors to the Members of
Stairways (Holdings) Limited

Opinion
We have audited the financial statements of Stairways (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Stairways (Holdings) Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Stairways (Holdings) Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We obtain an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with that framework;
- We obtain an understanding of the entity’s policies and procedures on compliance with laws and regulations, including documentation of any instances of non-compliance.
- Identify which laws and regulations are of significance in the context of the entity;
- We obtain an understanding of the entity’s risk assessment process, including the risk of fraud;
- We assess the susceptibility of the entity’s financial statements to material misstatement, including how fraud might occur;
- Identify and test unusual or unexpected journal entries;
- Use Data Analytics to review the client data for unusual trends/anomalies;
- Evaluate the assumptions and judgements used by management within significant accounting estimates and assess if these indicate evidence of management bias;
- Test significant transactions, in particular evaluate the business rationale for any which appear unusual or outside the company’s normal course of business;
- Review the financial statements and test the disclosures against supporting documentation;
- Communicate relevant matters (including those above) to all members of the audit team to ensure they understood the risks specific to the entity and the audit procedures planned to mitigate these.

In order to ascertain the above and relative to the specific risks identified, the procedures followed included:
Enquiry of management, those charged with governance and the entity’s solicitors around actual and potential litigation and claims;
Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;
Review of financial statement disclosures and test to supporting documentation to assess compliance with applicable laws and regulations.
Perform audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Stairways (Holdings) Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Adele Lawton (Senior Statutory Auditor)
for and on behalf of Lawton Bradford Accountants Ltd
Chartered Certified Accountants and
Statutory Auditors
7 Marconi Gate
Stafford
Staffordshire
ST18 0FZ

22 May 2025

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Consolidated
Income Statement
for the Year Ended 31 December 2024

31.12.24 31.12.23
as restated
Notes £    £   

TURNOVER 3 9,248,588 11,775,516

Cost of sales 5,894,960 7,670,993
GROSS PROFIT 3,353,628 4,104,523

Administrative expenses 3,326,298 3,365,981
27,330 738,542

Other operating income 4 253,834 221,315
OPERATING PROFIT 6 281,164 959,857

Interest receivable and similar income 205,946 176,109
487,110 1,135,966
Gain/loss on revaluation of assets 530,305 465,267
1,017,415 1,601,233

Interest payable and similar expenses 7 7,323 686
PROFIT BEFORE TAXATION 1,010,092 1,600,547

Tax on profit 8 139,989 267,661
PROFIT FOR THE FINANCIAL YEAR 870,103 1,332,886
Profit attributable to:
Owners of the parent 857,058 1,268,988
Non-controlling interests 13,045 63,898
870,103 1,332,886

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Consolidated
Other Comprehensive Income
for the Year Ended 31 December 2024

31.12.24 31.12.23
as restated
Notes £    £   

PROFIT FOR THE YEAR 870,103 1,332,886


OTHER COMPREHENSIVE INCOME
Revaluation of property (261,022 ) 2,403,014
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

(261,022

)

2,403,014
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

609,081
Prior year adjustment (1,195,613 )
TOTAL COMPREHENSIVE INCOME
SINCE LAST ANNUAL REPORT

2,540,287

Total comprehensive income attributable to:
Owners of the parent 596,037 2,476,389
Non-controlling interests 13,044 63,898
609,081 2,540,287

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Consolidated Balance Sheet
31 December 2024

31.12.24 31.12.23
as restated
Notes £    £    £   
FIXED ASSETS
Intangible assets 12 346,652 519,978
Tangible assets 13 5,499,333 5,762,074
Investments 14 2 2
Investment property 15 4,264,192 3,819,210
10,110,179 10,101,264

CURRENT ASSETS
Stocks 16 776,400 708,164
Debtors 17 1,499,170 1,646,299
Investments 18 1,131,696 1,046,374
Cash at bank and in hand 4,192,503 4,386,149
7,599,769 7,786,986
CREDITORS
Amounts falling due within one year 19 942,340 1,529,842
NET CURRENT ASSETS 6,657,429 6,257,144
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,767,608

16,358,408

PROVISIONS FOR LIABILITIES 22 998,639 1,162,519
NET ASSETS 15,768,969 15,195,889

CAPITAL AND RESERVES
Called up share capital 23 1,000 1,000
Revaluation reserve 24 3,223,631 3,039,671
Retained earnings 24 11,351,819 10,975,743
SHAREHOLDERS' FUNDS 14,576,450 14,016,414

NON-CONTROLLING INTERESTS 25 1,192,519 1,179,475
TOTAL EQUITY 15,768,969 15,195,889

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:




Mr N C Stevens - Director


STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Company Balance Sheet
31 December 2024

31.12.24 31.12.23
as restated
Notes £    £    £   
FIXED ASSETS
Intangible assets 12 - -
Tangible assets 13 5,445,215 5,756,795
Investments 14 82 82
Investment property 15 4,264,192 3,819,210
9,709,489 9,576,087

CURRENT ASSETS
Debtors 17 884,190 629,645
Cash at bank 71,233 34,719
955,423 664,364
CREDITORS
Amounts falling due within one year 19 343,354 417,153
NET CURRENT ASSETS 612,069 247,211
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,321,558

9,823,298

PROVISIONS FOR LIABILITIES 22 985,110 1,161,200
NET ASSETS 9,336,448 8,662,098

CAPITAL AND RESERVES
Called up share capital 23 1,000 1,000
Revaluation reserve 24 3,223,631 3,039,671
Retained earnings 24 6,111,817 5,621,427
SHAREHOLDERS' FUNDS 9,336,448 8,662,098

Company's profit for the financial year 971,372 1,201,986

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:





Mr N C Stevens - Director


STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Consolidated Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Revaluation
capital earnings reserve
£    £    £   
Balance at 1 January 2023 1,000 11,731,635 171,390
Prior year adjustment - (1,195,613 ) -
As restated 1,000 10,536,022 171,390

Changes in equity
Dividends - (364,000 ) -
Total comprehensive income - 803,721 2,868,281
Balance at 31 December 2023 1,000 10,975,743 3,039,671

Changes in equity
Dividends - (36,000 ) -
Total comprehensive income - 412,076 183,960
Balance at 31 December 2024 1,000 11,351,819 3,223,631
Non-controlling Total
Total interests equity
£    £    £   
Balance at 1 January 2023 11,904,025 1,115,577 13,019,602
Prior year adjustment (1,195,613 ) - (1,195,613 )
As restated 10,708,412 1,115,577 11,823,989

Changes in equity
Dividends (364,000 ) - (364,000 )
Total comprehensive income 3,672,002 63,898 3,735,900
Balance at 31 December 2023 14,016,414 1,179,475 15,195,889

Changes in equity
Dividends (36,000 ) - (36,000 )
Total comprehensive income 596,036 13,044 609,080
Balance at 31 December 2024 14,576,450 1,192,519 15,768,969

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Company Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2023 1,000 8,163,708 171,390 8,336,098
Prior year adjustment - (2,915,000 ) - (2,915,000 )
As restated 1,000 5,248,708 171,390 5,421,098

Changes in equity
Dividends - (364,000 ) - (364,000 )
Total comprehensive income - 736,719 2,868,281 3,605,000
Balance at 31 December 2023 1,000 5,621,427 3,039,671 8,662,098

Changes in equity
Dividends - (36,000 ) - (36,000 )
Total comprehensive income - 526,390 183,960 710,350
Balance at 31 December 2024 1,000 6,111,817 3,223,631 9,336,448

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Consolidated Cash Flow Statement
for the Year Ended 31 December 2024

31.12.24 31.12.23
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 394,573 1,398,084
Interest paid (7,323 ) (686 )
Tax paid (269,550 ) (230,610 )
Net cash from operating activities 117,700 1,166,788

Cash flows from investing activities
Purchase of tangible fixed assets (371,192 ) (146,025 )
Sale of tangible fixed assets - 29,000
Sale of fixed asset investments (100 ) -
Interest received 205,946 140,998
Net cash from investing activities (165,346 ) 23,973

Cash flows from financing activities
Amount withdrawn by directors (110,000 ) -
Equity dividends paid (36,000 ) (254,000 )
Net cash from financing activities (146,000 ) (254,000 )

(Decrease)/increase in cash and cash equivalents (193,646 ) 936,761
Cash and cash equivalents at beginning of
year

2

4,386,149

3,449,388

Cash and cash equivalents at end of year 2 4,192,503 4,386,149

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 December 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.24 31.12.23
as restated
£    £   
Profit before taxation 1,010,092 1,600,547
Depreciation charges 459,231 428,398
Loss on disposal of fixed assets 100 5,022
Gain on revaluation of fixed assets (530,305 ) (465,267 )
Finance costs 7,323 686
Finance income (205,946 ) (176,109 )
740,495 1,393,277
(Increase)/decrease in stocks (68,236 ) 357,990
Decrease in trade and other debtors 147,127 388,032
Decrease in trade and other creditors (424,813 ) (741,215 )
Cash generated from operations 394,573 1,398,084

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024
31.12.24 1.1.24
£    £   
Cash and cash equivalents 4,192,503 4,386,149
Year ended 31 December 2023
31.12.23 1.1.23
as restated
£    £   
Cash and cash equivalents 4,386,149 3,449,388


STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 December 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24 Cash flow At 31.12.24
£    £    £   
Net cash
Cash at bank and in hand 4,386,149 (193,646 ) 4,192,503
4,386,149 (193,646 ) 4,192,503

Liquid resources
Current asset investments 1,046,374 85,322 1,131,696
1,046,374 85,322 1,131,696
Total 5,432,523 (108,324 ) 5,324,199

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Stairways (Holdings) Limited 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 General Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 December 2024.

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in profit or loss from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.

The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirers interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.

Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted b the group. Non-controlling interest in the net assets of consolidated subsidiaries are identified separately from the group's equity therein.

The companies subsidiaries MDF Profiles Limited, Brankbrook Limited and Pastrad Limited are not included in these group financial statements as the exemption relating to the exclusion of dormant companies has been claimed under S477 and S479A of the Companies Act 2006.
Pastrad Limited was dissolved at Companies House on 30 April 2024.

Significant judgements and estimates
The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. Management considers that certain accounting assumptions relating to investments and provisions are its critical accounting policies.

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

Other income comprises rents received from investment property and environmental income under the Renewable Heat Incentive.
Rental income is recognised in accordance with the terms of the tenancy agreement. Environmental income is recognised when the amount can be reliably measured and it is probable that economic benefit will flow to the entity.

Goodwill
Goodwill on business acquisitions is recorded as the excess of consideration over the assets acquired. Acquired goodwill is reviewed annually by the directors for any impairment in value. Goodwill is amortised over the estimated useful life of 4 years on a straight line basis.

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.
Plant and machinery - 20% on cost and 15% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated
depreciation and impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and
installation.

Properties are valued at fair value with the properties shown at the most recent valuation, with any gains taken to the Revaluation Reserve.

Investments in subsidiaries
Investment in subsidiary undertakings are initially recognised at cost and subsequently reviewed for impairment.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The current economic climate creates uncertainty that could potentially impact on the level of demand whilst this presents a risk to the business the directors continue to closely monitor the position as the implications become more known to ensure that the group will continue to trade successfully.
The Directors are realistic about 2025 performance and are looking to mitigate risk by increasing due diligence with new and existing customers, re launching Rapidor - Door Kit, investment in employees and maintaining our reputable high-quality service and product delivery.

The company has continued to prepare the accounts on a going concern basis and deem this appropriate. The directors do not consider that a material uncertainty about the going concern status currently exists. In making this assessment the directors have considered the likely trading conditions for a period of twelve months from the date of the approval of these accounts.

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

31.12.24 31.12.23
as restated
£    £   
Sale of goods 8,626,119 11,096,794
Office accommodation fees 622,469 678,722
9,248,588 11,775,516

An analysis of turnover by geographical market is given below:

31.12.24 31.12.23
as restated
£    £   
United Kingdom 9,248,588 11,775,516
9,248,588 11,775,516

4. OTHER OPERATING INCOME
31.12.24 31.12.23
as restated
£    £   
Rents received 108,883 101,453
Sundry receipts 144,951 119,862
253,834 221,315

5. EMPLOYEES AND DIRECTORS
31.12.24 31.12.23
as restated
£    £   
Wages and salaries 2,886,550 3,002,363
Social security costs 280,527 247,674
Other pension costs 51,499 53,817
3,218,576 3,303,854

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

5. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
31.12.24 31.12.23
as restated

Production 68 77
Sales and administration 37 31
105 108

31.12.24 31.12.23
as restated
£    £   
Directors' remuneration 318,635 17,036

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Information regarding the highest paid director for the year ended 31 December 2024 is as follows:
31.12.24

£   
Emoluments etc 173,192

6. OPERATING PROFIT

The operating profit is stated after charging:

31.12.24 31.12.23
as restated
£    £   
Hire of plant and machinery 14,850 7,480
Depreciation - owned assets 285,904 255,072
Loss on disposal of fixed assets 100 5,022
Goodwill amortisation 173,326 173,326
Auditors' remuneration 10,000 8,000

7. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.24 31.12.23
as restated
£    £   
Bank interest - 170
Other interest payable 6,409 516
Interest payable 914 -
7,323 686

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.24 31.12.23
as restated
£    £   
Current tax:
UK corporation tax 216,861 332,759

Deferred tax (76,872 ) (65,098 )
Tax on profit 139,989 267,661

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.24 31.12.23
as restated
£    £   
Profit before tax 1,010,092 1,600,547
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 23.520 %)

252,523

376,449

Effects of:
Expenses not deductible for tax purposes 46,547 1,115
Income not taxable for tax purposes (132,577 ) (109,431 )
Capital allowances in excess of depreciation (3,310 ) -
Depreciation in excess of capital allowances - 61,866
Adjustments to tax charge in respect of previous periods 49,719 -
Tax loss carried back 3,959 -

Deferred tax movement (76,872 ) (62,338 )
Total tax charge 139,989 267,661

Tax effects relating to effects of other comprehensive income

31.12.24
Gross Tax Net
£    £    £   
Revaluation of property (261,022 ) - (261,022 )

31.12.23
Gross Tax Net
£    £    £   
Revaluation of property 2,403,014 - 2,403,014

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


10. DIVIDENDS
31.12.24 31.12.23
as restated
£    £   
Ordinary shares shares of £1 each
Interim 36,000 364,000

11. PRIOR YEAR ADJUSTMENT

In the accounts to December 2023 the following prior year adjustments were made.

Group
Stairways (Holdings) Limited holds 80% of the shares in Stairways (Midlands) Limited. As a result, a minority interest should have been disclosed in the prior year accounts.
A Prior year adjustment has therefore been carried out in 2022, to account for the minority interest which has resulted in a loss attributable to the group for the year to 31 December 2022 of £98,794 and profit attributable to the minority interest of £1,115,577.

Company
Investments in subsidiary companies initially included the cost of an investment property of £2,915,000. During the year ended 31 December 2021 this investment property was transferred from the subsidiary company to Stairways (Holdings) Limited. As a result, the investment in the subsidiary should have been subject to an impairment review. A prior year adjustment of £2,915,000 has therefore been included to account for this impairment.

12. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 961,809
AMORTISATION
At 1 January 2024 441,831
Amortisation for year 173,326
At 31 December 2024 615,157
NET BOOK VALUE
At 31 December 2024 346,652
At 31 December 2023 519,978

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

13. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 January 2024 5,078,747 2,483,760 613,021
Additions 12,091 297,077 17,554
Revaluations (348,029 ) - -
At 31 December 2024 4,742,809 2,780,837 630,575
DEPRECIATION
At 1 January 2024 - 1,975,574 439,309
Charge for year - 206,472 76,809
At 31 December 2024 - 2,182,046 516,118
NET BOOK VALUE
At 31 December 2024 4,742,809 598,791 114,457
At 31 December 2023 5,078,747 508,186 173,712

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 - 1,961 8,177,489
Additions 43,900 570 371,192
Revaluations - - (348,029 )
At 31 December 2024 43,900 2,531 8,200,652
DEPRECIATION
At 1 January 2024 - 532 2,415,415
Charge for year 2,054 569 285,904
At 31 December 2024 2,054 1,101 2,701,319
NET BOOK VALUE
At 31 December 2024 41,846 1,430 5,499,333
At 31 December 2023 - 1,429 5,762,074

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

13. TANGIBLE FIXED ASSETS - continued

Group

Cost or valuation at 31 December 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2023 2,632,892 - -
Valuation in 2024 (348,030 ) - -
Cost 2,457,947 2,780,837 630,575
4,742,809 2,780,837 630,575

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2023 - - 2,632,892
Valuation in 2024 - - (348,030 )
Cost 43,900 2,531 5,915,790
43,900 2,531 8,200,652

Directors revalued the freehold properties in January 2025 utilising valuations carried out by Holt Commercial RICS. The directors believe that these valuations are representative of the property values at 31 December 2024.

Company
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2024 5,078,746 2,458,960 606,153 8,143,859
Additions 12,091 297,077 6,550 315,718
Revaluations (348,029 ) - - (348,029 )
At 31 December 2024 4,742,808 2,756,037 612,703 8,111,548
DEPRECIATION
At 1 January 2024 - 1,950,773 436,291 2,387,064
Charge for year - 206,472 72,797 279,269
At 31 December 2024 - 2,157,245 509,088 2,666,333
NET BOOK VALUE
At 31 December 2024 4,742,808 598,792 103,615 5,445,215
At 31 December 2023 5,078,746 508,187 169,862 5,756,795

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

13. TANGIBLE FIXED ASSETS - continued

Company

Cost or valuation at 31 December 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
Valuation in 2023 2,632,892 - - 2,632,892
Valuation in 2024 (348,030 ) - - (348,030 )
Cost 2,457,946 2,756,037 612,703 5,826,686
4,742,808 2,756,037 612,703 8,111,548

Directors revalued the freehold properties in January 2025 utilising valuations carried out by Holt Commercial RICS. The directors believe that these valuations are representative of the property values at 31 December 2024.

14. FIXED ASSET INVESTMENTS

Group
Shares in
group
undertaking
£   
COST
At 1 January 2024
and 31 December 2024 2
NET BOOK VALUE
At 31 December 2024 2
At 31 December 2023 2
Company
Shares in
group
undertaking
£   
COST
At 1 January 2024
and 31 December 2024 82
NET BOOK VALUE
At 31 December 2024 82
At 31 December 2023 82

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

14. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Stairways (Midlands) Limited
Registered office: England and Wales
Nature of business: Manufacture of timber and joinery products
%
Class of shares: holding
Ordinary 80.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves 5,962,697 5,897,473
Profit for the year 65,224 319,488

Brankbrook Limited
Registered office: England and Wales
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves 1 1

MDF Profiles Limited
Registered office: England and Wales
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves 1 1

Pastrad Ltd
Registered office: England and Wales
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves - 100

During the year Pastrad Ltd was dissolved at companies house.

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

14. FIXED ASSET INVESTMENTS - continued

TPP (Coventry) Ltd
Registered office: England and Wales
Nature of business: Property Management Company
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves 123,252 116,318
Profit for the year 6,934 38,114


15. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 January 2024 3,819,210
Revaluations 444,982
At 31 December 2024 4,264,192
NET BOOK VALUE
At 31 December 2024 4,264,192
At 31 December 2023 3,819,210

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2017 189,025
Valuation in 2023 465,267
Valuation in 2024 444,982
Cost 3,164,918
4,264,192

Directors revalued the freehold properties in January 2025 utilising valuations carried out by Holt Commercial RICS. The directors believe that these valuations are representative of the property values at 31 December 2024.

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

15. INVESTMENT PROPERTY - continued

Company
Total
£   
FAIR VALUE
At 1 January 2024 3,819,210
Revaluations 444,982
At 31 December 2024 4,264,192
NET BOOK VALUE
At 31 December 2024 4,264,192
At 31 December 2023 3,819,210

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2017 189,025
Valuation in 2023 465,267
Valuation in 2024 444,982
Cost 3,164,918
4,264,192

Directors revalued the investment properties in January 2025 utilising valuations carried out by Holt Commercial RICS. The directors believe that these valuations are representative of the property values at 31 December 2024.

16. STOCKS

Group
31.12.24 31.12.23
as restated
£    £   
Stocks 776,400 708,164

17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
as restated as restated
£    £    £    £   
Trade debtors 959,070 1,382,507 24,465 40,554
Amounts owed by group undertakings - - 655,731 415,522
Other debtors 381,408 187,158 170,000 170,000
Prepayments and accrued income 158,692 76,634 33,994 3,569
1,499,170 1,646,299 884,190 629,645

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

18. CURRENT ASSET INVESTMENTS

Group
31.12.24 31.12.23
as restated
£    £   
Other 1,131,696 1,046,374

19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
as restated as restated
£    £    £    £   
Trade creditors 115,402 201,138 14,315 23,727
Amounts owed to group undertakings - - 50,262 -
Tax 180,586 233,275 145,853 171,066
Social security and other taxes 69,708 56,897 - -
VAT 264,481 367,089 50,787 40,452
Other creditors 31,791 39,455 31,067 29,552
Directors' loan accounts - 110,000 - 110,000
Accruals and deferred income 280,372 521,988 51,070 42,356
942,340 1,529,842 343,354 417,153

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
31.12.24 31.12.23
as restated
£    £   
Within one year - 3,029

21. FINANCIAL INSTRUMENTS

Categorisation of financial instruments:

Financial assets that are debt instruments measured at amortised cost £7,441,076 (2023 - £7,710,352)
Financial liabilities measured at amortised cost £427,562 (2023 £872,581)

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

22. PROVISIONS FOR LIABILITIES

Group Company
31.12.24 31.12.23 31.12.24 31.12.23
as restated as restated
£    £    £    £   
Deferred tax 998,639 1,162,519 985,110 1,161,200

Group
Deferred
tax
£   
Balance at 1 January 2024 1,162,519
Credit to Income Statement during year (163,880 )
Balance at 31 December 2024 998,639

Company
Deferred
tax
£   
Balance at 1 January 2024 1,161,200
Provided during year (176,090 )
Balance at 31 December 2024 985,110

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: as restated
£    £   
1,000 Ordinary shares £1 1,000 1,000

24. RESERVES

Group
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2024 10,975,743 3,039,671 14,015,414
Profit for the year 857,058 857,058
Dividends (36,000 ) (36,000 )
Freehold Property revaluation - (261,022 ) (261,022 )
Transfer (444,982 ) 444,982 -
At 31 December 2024 11,351,819 3,223,631 14,575,450

STAIRWAYS (HOLDINGS) LIMITED (REGISTERED NUMBER: 02851575)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2024

24. RESERVES - continued

Company
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2024 5,621,427 3,039,671 8,661,098
Profit for the year 971,372 971,372
Dividends (36,000 ) (36,000 )
Freehold Property revaluation - (261,022 ) (261,022 )
Transfer (444,982 ) 444,982 -
At 31 December 2024 6,111,817 3,223,631 9,335,448


25. NON-CONTROLLING INTERESTS

Minority interests are the 20% shareholding in Stairways (Midlands) Limited.

26. PENSION COMMITMENTS

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £50,376 (2023 - £53,817).

At the year end there were amounts owing to the scheme of £172 (2023 - £9,903)

27. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

28. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors