Registration number: 13952232

Steps Prosthetics Ltd

(Registration number: 13952232)

Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	3	22,990	34,325
Current assets
Stocks		200,715	23,933
Debtors	4	170,577	60,042
Cash at bank and in hand		797,723	237,881
		1,169,015	321,856
Creditors: Amounts falling due within one year	5	(857,254)	(262,305)
Net current assets		311,761	59,551
Total assets less current liabilities		334,751	93,876
Provisions for liabilities		(4,007)	(6,242)
Net assets		330,744	87,634
Capital and reserves
Called up share capital		100	100
Retained earnings		330,644	87,534
Shareholders' funds		330,744	87,634

For the financial year ending 31 March 2025 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 accounts 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 accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

Steps Prosthetics Ltd

(Registration number: 13952232)

Balance Sheet as at 31 March 2025 (continued)

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 1 September 2025 and signed on its behalf by:
 

.........................................

C M Shaw

Director

Steps Prosthetics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	Accounting policies

Statutory information

Steps Prosthetics Ltd is a private company, limited by shares, domiciled in England and Wales, company number 13952232. The registered office is at 40 Little London Road, Sheffield, S8 0UH.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

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. Revenue is recognised at the point of service delivery.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

Steps Prosthetics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

1	Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	50% straight line basis
Leasehold improvements	20% straight line basis
Office equipment	50% straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2024 - 7).

Steps Prosthetics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

3	Tangible assets

	Leasehold improvements £	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 April 2024	24,809	14,698	17,033	56,540
Additions	2,524	274	5,587	8,385
Disposals	-	-	(2,182)	(2,182)
At 31 March 2025	27,333	14,972	20,438	62,743
Depreciation
At 1 April 2024	5,062	7,790	9,363	22,215
Charge for the year	5,046	5,949	7,861	18,856
Eliminated on disposal	-	-	(1,318)	(1,318)
At 31 March 2025	10,108	13,739	15,906	39,753
Carrying amount
At 31 March 2025	17,225	1,233	4,532	22,990
At 31 March 2024	19,747	6,908	7,670	34,325

4

Debtors

	2025 £	2024 £
Trade debtors	47,048	16,255
Prepayments	57,065	32,178
Other debtors	66,464	11,609
	170,577	60,042

Steps Prosthetics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

5

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	141,161	43,497
Other creditors	4,172	3,194
Taxation and social security	118,430	35,927
Accruals and deferred income	593,491	179,687
	857,254	262,305

6	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £176,223 (2024 - £191,214).