Registration number:
Steps Together Rehab (Leicester) Limited
for the Year Ended 30 November 2024
Steps Together Rehab (Leicester) Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Steps Together Rehab (Leicester) Limited
Company Information
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Directors |
Mrs Gabrielle Louise Rolfe Mr Darren Kelly Rolfe |
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Registered office |
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Accountants |
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Steps Together Rehab (Leicester) Limited
(Registration number: 10249566) (England and Wales)
Balance Sheet as at 30 November 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
1,239,181 |
1,245,870 |
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Shareholders' funds |
1,239,281 |
1,245,970 |
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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. |
The financial statements were approved and authorised for issue by the
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Steps Together Rehab (Leicester) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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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.
Going concern
The company is dependent on continuing finance being made available by its group undertaking to enable it to continue operating and to meet its debts as they fall due. The group companies have agreed to provide sufficient funds for these purposes for at least 12 months from the date that these accounts are approved by the directors. The directors believe it is therefore appropriate to prepare the financial statements on a going concern.
Steps Together Rehab (Leicester) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)
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Accounting policies (continued) |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the 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.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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:
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Asset class |
Depreciation method and rate |
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Short leasehold premises |
Over 5 years |
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Furniture and fittings |
20% on straight line |
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Office equipment |
20% on straight line |
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.
Steps Together Rehab (Leicester) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)
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Accounting policies (continued) |
Trade debtors
Trade debtors are amounts due from customers for 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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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 Rehab (Leicester) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)
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Accounting policies (continued) |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Recognition and measurement
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
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.
Steps Together Rehab (Leicester) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)
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Staff numbers |
The average monthly number of persons employed by the company (including directors) during the year, was
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost |
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At 1 December 2023 |
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Additions |
- |
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At 30 November 2024 |
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Depreciation |
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At 1 December 2023 |
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Charge for the year |
- |
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At 30 November 2024 |
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Carrying amount |
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At 30 November 2024 |
- |
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At 30 November 2023 |
- |
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Steps Together Rehab (Leicester) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)
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Debtors |
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Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Corporation tax payable |
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Accrued expenses |
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Deferred income |
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Due after one year |
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Loans and borrowings |
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Steps Together Rehab (Leicester) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)
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Loans and borrowings |
Current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Non-current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Bank borrowings consists of a government-backed Bounce Back Loan as below:
£19,166 (2023: £29,166) with a repayment term of 6 years from November 2021. The interest rate applicable to the loan is 2.5% with the first 12 months interest being covered by the government.
£152,560 (2023: £202,920) with a repayment term of 6 years from December 2022. The interest rate applicable to the loan is 4% with the first 12 months interest being covered by the government.
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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Dividends |
Interim dividends paid
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2024 |
2023 |
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Interim dividend of £ |
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Steps Together Rehab (Leicester) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)
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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.
Loans to related parties
Marren Healthcare Limited - £Nil (2023 : £49,915)
EGR Property Limited - £48,000 (2023: £48,000)
Summary of transactions with other related parties
Steps Together Rehab (St Helen's) Ltd
The company has provided funding to Steps Together Rehab (St Helen's) Ltd, a company incorporated in the England and Wales and is a fellow subsidiary. At the balance sheet date, the amount owed to the company was £571,459 (2023 : £565,756). The loan is interest free and receivable on demand.
Steps Together Rehab Limited
The company has received funding from Steps Together Rehab Limited, a company incorporated in the England and Wales and is a fellow subsidiary. At the balance sheet date, the amount owed by the company to Steps Together Rehab Limited was £280,483 (2023 : £227,875). The loan is interest free and repayable on demand.
Steps Together Group Limited
The company has received funding from Steps Together Group Limited, a company incorporated in the England and Wales and is a parent undertaking. At the balance sheet date, the amount owed by the company to Steps Together Group Limited was £25,000 (2023 : £Nil). The loan is interest free and repayable on demand.
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Parent and ultimate controlling party |
The company's immediate parent is
The ultimate controlling party is