Steptwice Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02850857 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Steptwice Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Heah

SECRETARY:

S Lewis

REGISTERED OFFICE:

8 Weymouth Mews

London

W1G 7EA

REGISTERED NUMBER:

02850857 (England and Wales)

ACCOUNTANTS:

Maurice Bruno Ltd

Chartered Accountants

Wyndham House

Sunning Avenue

Sunningdale

SL5 9PW

FIXED ASSETS

Tangible assets

4

2,850,168

2,886,699

Investments

5

125,150

2,975,318

3,011,849

CURRENT ASSETS

Debtors

6

1,091,062

1,349,905

Investments

7

5

Cash at bank

112,165

40,307

1,203,232

1,390,217

CREDITORS

Amounts falling due within one year

8

2,225,636

2,271,096

NET CURRENT LIABILITIES

(1,022,404

)

(880,879

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,952,914

2,130,970

PROVISIONS FOR LIABILITIES

9

251,711

255,443

NET ASSETS

1,701,203

1,875,527

CAPITAL AND RESERVES

Called up share capital

10

4

Revaluation reserve

11

1,006,843

1,021,771

Retained earnings

11

694,356

853,752

SHAREHOLDERS' FUNDS

1,701,203

1,875,527

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 director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2025 and were signed by:

G Heah - Director

1.	STATUTORY INFORMATION

Steptwice Company 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents income from property consultancy, and rental income from investment properties.

Tangible fixed assets

Investment properties are not depreciated. The Director considers that this accounting policy, which represents a departure from the Companies Act 2006, results in the unaudited accounts giving a true and fair view

Investment properties are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, they are measured at fair value at the reporting date. Changes in fair value are recognised in the profit and loss account.

At the year end, for discloure purposes, changes in fair value for the year are transferred to the revaluation reserve. The revaluation reserve is a non distributable reserve.

Plant & machinery, and fixtures and fittings are depreciated over a period of between 3 to 5 years, on a straight line basis.

Taxation

Taxation for the year year comprises current and deferred tax.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Basis of preparation of accounts

The company's share of the results of its associated companies, have not been included in these accounts. The accounts therefore present information about the company as an individual undertaking, including the results of the companies in which Steptwice Company Ltd has an interest as a nominee shareholding.

Classification of financial liabilities

Basic financial liabilities, including trade and other payables, and bank loans, are recognised at transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST OR VALUATION

At 1 January 2024

2,883,990

91,218

2,975,208

Additions

988

-

988

Revaluations

(18,660

)

-

(18,660

)

Exchange differences

(17,772

)

-

(17,772

)

At 31 December 2024

2,848,546

91,218

2,939,764

DEPRECIATION

At 1 January 2024

-

88,509

Charge for year

-

1,087

At 31 December 2024

-

89,596

NET BOOK VALUE

At 31 December 2024

2,848,546

1,622

2,850,168

At 31 December 2023

2,883,990

2,709

2,886,699

Analysis of land & buildings is as follows:

Leasehold Investment properties

Cost £237,713 at valuation of £259,000; Accumulated depreciation £NIL

Freehold investment properties:

Cost £694,022 at valuation £2,402,592 ; Accumulated depreciation £NIL

Cost/valuation £186,954; Accumulated depreciation £NIL

The Director has valued the properties at fair / open market value at 31 December 2024.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

125,150

NET BOOK VALUE

At 31 December 2024

125,150

At 31 December 2023

125,150

The company owns:

1. 50% of Campden Investments Ltd, ( a property consultancy, investment and management company), holding 50£1 Ordinary shares and 100 £1 C shares.

2. 25% of Campden Estates Ltd ( a property letting agency), holding 300 £1 Ordinary shares.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Other debtors

1,091,062

1,349,905

7.	CURRENT ASSET INVESTMENTS

31.12.24

31.12.23

£

Unlisted investments

5

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

62,500

Payments on account

-

2,300

Trade creditors

23,167

15,552

Taxation and social security

501

351

Other creditors

2,139,468

2,190,393

2,225,636

2,271,096

9.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

Deferred tax

251,711

255,443

Deferred

tax

£

Balance at 1 January 2024

255,443

Provided during year

(3,732

)

Balance at 31 December 2024

251,711

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

2

Ordinary A

£1

2

Ordinary B

£1

2

4

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

At 1 January 2024

853,752

1,021,771

1,875,523

Deficit for the year

(178,056

)

(178,056

)

To revaluation reserve

18,660

-

18,660

Transfer from profit and loss

-

(18,660

)

(18,660

)

Deferred Tax

-

3,732

At 31 December 2024

694,356

1,006,843

1,701,199

12.	RELATED PARTY DISCLOSURES

Campden Investments Limited

Year end creditor of £1,132,668

Highbridge Estates Ltd

Purchases of £6,000

G Heah (Director) year end creditor of £725,759

Campden Estates Ltd

Dividends received of £72,500