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Registration number: 12430602 (England and Wales)

Steps Together Group Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Steps Together Group Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Steps Together Group Ltd

Company Information

Directors

Mr Darren Kelly Rolfe

Mrs Gabrielle Louise Rolfe

Registered office

Hygeia Building
Rear Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

Accountants

Aventus Partners Limited
Chartered AccountantsHygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

 

Steps Together Group Ltd

(Registration number: 12430602) (England and Wales)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

195,600

195,600

Current assets

 

Debtors

5

25,000

-

Cash at bank and in hand

 

903

181

 

25,903

181

Creditors: Amounts falling due within one year

6

(195,873)

(195,562)

Net current liabilities

 

(169,970)

(195,381)

Net assets

 

25,630

219

Capital and reserves

 

Called up share capital

7

1,005

1,005

Retained earnings

24,625

(786)

Shareholders' funds

 

25,630

219

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

The financial statements were approved and authorised for issue by the Board on 9 July 2025 and signed on its behalf by:
 

.........................................
Mr Darren Kelly Rolfe
Director

   
     
 

Steps Together Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hygeia Building
Rear Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE
United Kingdom

These financial statements were authorised for issue by the Board on 9 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Steps Together Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Steps Together Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans from related parties.

 Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.


 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss if recognised in the Profit and loss account.

For financial assets measured as amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discounted rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

The average monthly number of persons employed by the company (including directors) during the year, was 2 (2023: 2).

4

Investments

2024
£

2023
£

Investments in subsidiaries

195,600

195,600

 

Steps Together Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4

Investments (continued)

Subsidiaries

£

Cost or valuation

At 1 December 2023

195,600

Provision

Carrying amount

At 30 November 2024

195,600

At 30 November 2023

195,600

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Steps Together Rehab Limited

Rear Ground Floor,
Hygeia Building,
66-68 College Road,
Harrow, Middlesex, HA1 1BE
United Kingdom.

England and Wales

Ordinary shares

100%

100%

Steps Together Rehab (Leicester) Limited

Rear Ground Floor,
Hygeia Building,
66-68 College Road,
Harrow, Middlesex, HA1 1BE,
United Kingdom.

England and Wales

Ordinary shares

100%

100%

Steps Together Rehab (St Helen's) Ltd

Rear Ground Floor,
Hygeia Building,
66-68 College Road,
Harrow, Middlesex, HA1 1BE,
United Kingdom

England and Wales

Ordinary shares

95%

95%

 

Steps Together Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

5

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings

9

25,000

-

 

25,000

-

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings

9

171,862

194,362

Accrued expenses

 

24,011

1,200

 

195,873

195,562

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.10 each

10,050

1,005

10,050

1,005

       

8

Dividends

2024

2023

£

£

Interim dividend of £39.80 (2023 - £15.32) per ordinary share

400,000

154,000

 

 
 

Steps Together Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

9

Related party transactions

The company has taken advantage of the exemptions available in FRS 102 1A from disclosing related party transactions with other companies that are wholly owned within the group.

Steps Together Rehab Limited
The company received funding from Steps Together Rehab Limited, a company incorporated in England and Wales and a wholly owned subsidiary. At the balance sheet date, the amount owed by the company to Steps Together Rehab Limited was £169,117 (2023: £194,117).

Steps Together Rehab (St Helen's) Ltd
The company received funding from Steps Together Rehab (St Helen's) Ltd, a company incorporated in England and Wales. At the balance sheet date, the amount owed by the company to Steps Together Rehab (St Helen's) Ltd was £2,745 (2023: £245).

Steps Together Rehab (Leicester) Limited
The company provided funding to Steps Together Rehab (Leicester) Limited, a company incorporated in England and Wales. At the balance sheet date, the amount owed to the company by Steps Together Rehab (Leicester) Limited was £25,000 (2023: £Nil).