STEP Training and Learning Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: NI050625 (Northern Ireland)

STEP TRAINING AND LEARNING LIMITED

Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Bernadette McAliskey

Fintan McAliskey

John McNeill

Pamela Victoria McGinn

REGISTERED OFFICE:

The Junction

12 Beechvalley Way

Dungannon

Co. Tyrone

BT70 1BS

REGISTERED NUMBER:

NI050625 (Northern Ireland)

INDEPENDENT AUDITORS:

Cooper Parry Audit (Ireland) Limited

Statutory Auditor

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

SOLICITORS:

Logan and Corry

Church House

24 Dublin Road

Omagh

Co. Tyrone

BT78 1HE

NON-CURRENT ASSETS

Property, plant and equipment

5

208,262

213,026

Investment property

6

483,139

691,401

696,165

CURRENT ASSETS

Receivables: amounts falling due within
one year

7

24,438

30,510

Cash at bank

266,268

228,571

290,706

259,081

PAYABLES

Amounts falling due within one year

8

(844,835

)

(813,340

)

NET CURRENT LIABILITIES

(554,129

)

(554,259

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

137,272

141,906

PROVISIONS FOR LIABILITIES

(22,323

)

(22,323

)

NET ASSETS

114,949

119,583

CAPITAL AND RESERVES

Called up share capital

9

1

Other reserves

97,056

Retained earnings

17,892

22,526

SHAREHOLDERS' FUNDS

114,949

119,583

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 Board of Directors and authorised for issue on 16 December 2025 and were signed on its behalf by:

Bernadette McAliskey - Director

1.	STATUTORY INFORMATION

STEP Training and Learning Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements are prepared on a going concern basis under the historical cost convention.

Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Revenue

Sale of services:

Revenue from the sale of services is recognised when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the group will receive consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably, and;

- the costs incurred and the costs to complete the contract can be measured reliably.

Property, plant and equipment

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Land and buildings

2% Straight line

Plant and machinery

25% Reducing balance

Fixtures and fittings

25% Straight line

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Investment property

Investment property is carried at fair value, derived from the current market prices. The valuations use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the Income Statement.

Financial instruments

The company have chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.

Taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.

Employee benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 3 ).

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

COST

At 1 April 2024

and 31 March 2025

212,360

11,169

18,540

242,069

DEPRECIATION

At 1 April 2024

1,400

9,103

18,540

29,043

Charge for year

4,247

517

-

4,764

At 31 March 2025

5,647

9,620

18,540

33,807

NET BOOK VALUE

At 31 March 2025

206,713

1,549

-

208,262

At 31 March 2024

210,960

2,066

-

213,026

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

483,139

NET BOOK VALUE

At 31 March 2025

483,139

At 31 March 2024

483,139

The directors consider that such valuations are reflective of the open market value of the properties at 31 March 2024.

7.

RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade receivables

24,438

30,510

8.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade payables

575

2,660

Amounts owed to group undertakings

819,361

781,195

Social security and other taxes

3,020

2,542

VAT

17,195

17,541

Other payables

-

4,057

Accruals and deferred income

4,684

5,345

844,835

813,340

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

1

Ordinary

1

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Mr. Ryan Falls FCA (Senior Statutory Auditor)

for and on behalf of Cooper Parry Audit (Ireland) Limited

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.