Silverfin false false 28/02/2025 01/01/2024 28/02/2025 Georgina Rees 24/10/2016 Jason John Rees 24/10/2016 09 July 2025 The principal activity of the Company during the financial year was that of consultancy services. 10442435 2025-02-28 10442435 bus:Director1 2025-02-28 10442435 bus:Director2 2025-02-28 10442435 2023-12-31 10442435 core:CurrentFinancialInstruments 2025-02-28 10442435 core:CurrentFinancialInstruments 2023-12-31 10442435 core:ShareCapital 2025-02-28 10442435 core:ShareCapital 2023-12-31 10442435 core:RetainedEarningsAccumulatedLosses 2025-02-28 10442435 core:RetainedEarningsAccumulatedLosses 2023-12-31 10442435 core:Vehicles 2023-12-31 10442435 core:ComputerEquipment 2023-12-31 10442435 core:Vehicles 2025-02-28 10442435 core:ComputerEquipment 2025-02-28 10442435 bus:OrdinaryShareClass1 2025-02-28 10442435 2024-01-01 2025-02-28 10442435 bus:FilletedAccounts 2024-01-01 2025-02-28 10442435 bus:SmallEntities 2024-01-01 2025-02-28 10442435 bus:AuditExemptWithAccountantsReport 2024-01-01 2025-02-28 10442435 bus:PrivateLimitedCompanyLtd 2024-01-01 2025-02-28 10442435 bus:Director1 2024-01-01 2025-02-28 10442435 bus:Director2 2024-01-01 2025-02-28 10442435 core:Vehicles core:TopRangeValue 2024-01-01 2025-02-28 10442435 core:ComputerEquipment core:TopRangeValue 2024-01-01 2025-02-28 10442435 2023-01-01 2023-12-31 10442435 core:Vehicles 2024-01-01 2025-02-28 10442435 core:ComputerEquipment 2024-01-01 2025-02-28 10442435 bus:OrdinaryShareClass1 2024-01-01 2025-02-28 10442435 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10442435 (England and Wales)

STEP CHANGE VENTURES LIMITED

Unaudited Financial Statements
For the financial period from 01 January 2024 to 28 February 2025
Pages for filing with the registrar

STEP CHANGE VENTURES LIMITED

Unaudited Financial Statements

For the financial period from 01 January 2024 to 28 February 2025

Contents

STEP CHANGE VENTURES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 28 February 2025
STEP CHANGE VENTURES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 28 February 2025
Note 28.02.2025 31.12.2023
£ £
Fixed assets
Tangible assets 3 22,405 35,486
22,405 35,486
Current assets
Cash at bank and in hand 1,183 352
1,183 352
Creditors: amounts falling due within one year 4 ( 43,997) ( 58,547)
Net current liabilities (42,814) (58,195)
Total assets less current liabilities (20,409) (22,709)
Net liabilities ( 20,409) ( 22,709)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 20,509 ) ( 22,809 )
Total shareholders' deficit ( 20,409) ( 22,709)

For the financial period ending 28 February 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Step Change Ventures Limited (registered number: 10442435) were approved and authorised for issue by the Board of Directors on 09 July 2025. They were signed on its behalf by:

Jason John Rees
Director
STEP CHANGE VENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 January 2024 to 28 February 2025
STEP CHANGE VENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 January 2024 to 28 February 2025
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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.

Reporting period length

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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Vehicles 5 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
01.01.2024 to
28.02.2025
Year ended
31.12.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 2 2

3. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 January 2024 55,990 45 56,035
At 28 February 2025 55,990 45 56,035
Accumulated depreciation
At 01 January 2024 20,530 19 20,549
Charge for the financial period 13,064 17 13,081
At 28 February 2025 33,594 36 33,630
Net book value
At 28 February 2025 22,396 9 22,405
At 31 December 2023 35,460 26 35,486

4. Creditors: amounts falling due within one year

28.02.2025 31.12.2023
£ £
Amounts owed to directors 40,669 57,108
Accruals 1,979 1,439
Other taxation and social security 1,349 0
43,997 58,547

5. Called-up share capital

28.02.2025 31.12.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Related party transactions

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.