Company No:
Contents
| Note | 28.02.2025 | 31.12.2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| 22,405 | 35,486 | |||
| Current assets | ||||
| Cash at bank and in hand |
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| 1,183 | 352 | |||
| Creditors: amounts falling due within one year | 4 | (
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| Net current liabilities | (42,814) | (58,195) | ||
| Total assets less current liabilities | (20,409) | (22,709) | ||
| Net liabilities | (
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| Capital and reserves | ||||
| Called-up share capital | 5 |
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| Profit and loss account | (
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| Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of Step Change Ventures Limited (registered number:
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Jason John Rees
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.
Step Change Ventures Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Keepers House, Church St, Cowbridge, CF71 7NQ, Wales, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £20,409. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The company has changed its accounting reporting date from 31 December to 28 February. As a result, the current accounting period covers 14 months from 1 January 2024 to 28 February 2025. The comparative figures are for the 12-month period ended 31 December 2023.
Accordingly, the current period’s amounts presented in the profit and loss account, balance sheet and related notes are not entirely comparable with those of the prior period.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
| Vehicles |
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| Computer equipment |
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Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
| Period from 01.01.2024 to 28.02.2025 |
Year ended 31.12.2023 |
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| Number | Number | ||
| Monthly average number of persons employed by the Company during the period, including directors |
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| Vehicles | Computer equipment | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 January 2024 |
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| At 28 February 2025 |
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| Accumulated depreciation | |||||
| At 01 January 2024 |
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| Charge for the financial period |
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| At 28 February 2025 |
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| Net book value | |||||
| At 28 February 2025 |
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| At 31 December 2023 |
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| 28.02.2025 | 31.12.2023 | ||
| £ | £ | ||
| Amounts owed to directors |
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| Accruals |
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| Other taxation and social security |
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| 28.02.2025 | 31.12.2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with owners holding a participating interest in the entity
| 28.02.2025 | 31.12.2023 | ||
| £ | £ | ||
| Amounts owed by the company to the Directors | 40,669 | 57,108 |
There is no interest charged on the balances and no set date for repayment.