STEPPING STONES CARE SERVICES LTD - Accounts to registrar (filleted)

REGISTERED NUMBER: 07392871 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

STEPPING STONES CARE SERVICES (SOUTH

WALES) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G McKay

D Willis

SECRETARY:

K L Gale

REGISTERED OFFICE:

Suite A

Womanby House

Womanby Street

Cardiff

CF10 1BR

REGISTERED NUMBER:

07392871 (England and Wales)

ACCOUNTANTS:

Kingscott Dix (Cheltenham) Limited

7 Rockfield Business Park

Old Station Drive

Leckhampton

Cheltenham

GL53 0AN

FIXED ASSETS

Intangible assets

4

43,015

49,160

Tangible assets

5

824,442

925,423

867,457

974,583

CURRENT ASSETS

Debtors

6

640,469

917,862

Cash at bank and in hand

1,275,742

884,335

1,916,211

1,802,197

CREDITORS

Amounts falling due within one year

7

(472,949

)

(703,483

)

NET CURRENT ASSETS

1,443,262

1,098,714

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,310,719

2,073,297

CREDITORS

Amounts falling due after more than one
year

8

(162,500

)

(187,500

)

PROVISIONS FOR LIABILITIES

10

(31,400

)

(47,600

)

NET ASSETS

2,116,819

1,838,197

CAPITAL AND RESERVES

Called up share capital

11

250

Retained earnings

2,116,569

1,837,947

SHAREHOLDERS' FUNDS

2,116,819

1,838,197

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 April 2025 and were signed on its behalf by:

G McKay - Director

1.	STATUTORY INFORMATION

Stepping Stones Care Services (South Wales) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The directors are of the opinion that there are no significant judgements or estimations used in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold Improvements

-

Straight line over 20 years

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 102 (2023 - 95 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

122,900

AMORTISATION

At 1 January 2024

73,740

Charge for year

6,145

At 31 December 2024

79,885

NET BOOK VALUE

At 31 December 2024

43,015

At 31 December 2023

49,160

5.	TANGIBLE FIXED ASSETS

Plant and

Leasehold

machinery

Improvements

etc

Totals

£

COST

At 1 January 2024

785,802

1,060,495

1,846,297

Additions

-

42,215

At 31 December 2024

785,802

1,102,710

1,888,512

DEPRECIATION

At 1 January 2024

178,740

742,134

920,874

Charge for year

53,051

90,145

143,196

At 31 December 2024

231,791

832,279

1,064,070

NET BOOK VALUE

At 31 December 2024

554,011

270,431

824,442

At 31 December 2023

607,062

318,361

925,423

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

624,469

908,862

Other debtors

16,000

9,000

640,469

917,862

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

25,000

Trade creditors

92,414

117,762

Taxation and social security

211,017

350,524

Other creditors

144,518

210,197

472,949

703,483

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans

162,500

187,500

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

62,500

87,500

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

187,500

212,500

Bank loans are secured by a fixed and floating charge over the assets of the company.

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

31,400

47,600

Deferred

tax

£

Balance at 1 January 2024

47,600

Credit to Profit and loss account during year

(16,200

)

Balance at 31 December 2024

31,400

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

250

Ordinary

£1

250

12.	RELATED PARTY DISCLOSURES

During the year the company paid rent of £469,584 (2023 - £446,260) to a company in which Mr G McKay is a shareholder. At the year end the company was owed £118,000 (2023 - £111,000)