REGISTERED NUMBER: 07586419 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

FIRST STEPS CORNWALL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J A Elsworth

Mrs E Williams

REGISTERED OFFICE:

First Steps

Porth Bean Road

Newquay

Cornwall

TR7 3JF

REGISTERED NUMBER:

07586419 (England and Wales)

ACCOUNTANTS:

Whitakers

Chartered Accountants

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

70,509

41,039

70,509

41,039

CURRENT ASSETS

Debtors

6

195,485

200,359

Cash at bank

327,798

155,813

523,283

356,172

CREDITORS

Amounts falling due within one year

7

240,494

96,475

NET CURRENT ASSETS

282,789

259,697

TOTAL ASSETS LESS CURRENT LIABILITIES

353,298

300,736

CREDITORS

Amounts falling due after more than one year

8

-

(2,651

)

PROVISIONS FOR LIABILITIES

(10,607

)

(9,229

)

NET ASSETS

342,691

288,856

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

342,491

288,656

342,691

288,856

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2026 and were signed on its behalf by:

Mrs E Williams - Director

Mrs J A Elsworth - Director

1.	STATUTORY INFORMATION

First Steps Cornwall Ltd 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.

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 2013, is being amortised evenly over its estimated useful life of ten 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.

Long leasehold

-

10% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2025 - 60 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

170,000

AMORTISATION

At 1 April 2025

and 31 March 2026

170,000

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2025

19,686

152,044

26,651

198,381

Additions

28,806

15,835

7,820

52,461

Disposals

-

(634

)

(2,432

)

(3,066

)

At 31 March 2026

48,492

167,245

32,039

247,776

DEPRECIATION

At 1 April 2025

15,563

123,318

18,461

157,342

Charge for year

4,849

11,329

6,341

22,519

Eliminated on disposal

-

(530

)

(2,064

)

(2,594

)

At 31 March 2026

20,412

134,117

22,738

177,267

NET BOOK VALUE

At 31 March 2026

28,080

33,128

9,301

70,509

At 31 March 2025

4,123

28,726

8,190

41,039

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

1,602

1,753

Directors' loan accounts

184,072

189,081

Prepayments

9,811

9,525

195,485

200,359

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts (see note 9)

2,651

10,440

Tax

81,344

66,288

Social security and other taxes

31,031

13,812

Other creditors

120,655

1,350

Accrued expenses

4,813

4,585

240,494

96,475

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans (see note 9)

-

2,651

9.

LOANS

An analysis of the maturity of loans is given below:

31.3.26

31.3.25

£

£

Amounts falling due within one year or on demand:

Bank loans

2,651

10,440

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

2,651

The company received a bounce back loan in May 2020 due to the Covid 19 pandemic. The loan was for £50,000 and is guaranteed 100% by the government. Repayments commenced in June 2021 and interest has been shown in the profit and loss account.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2026 and 31 March 2025:

31.3.26

31.3.25

£

£

Mrs E Williams

Balance outstanding at start of year

94,540

89,203

Amounts advanced

104,358

106,899

Amounts repaid

(106,862

)

(101,562

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

92,036

94,540

Mrs J A Elsworth

Balance outstanding at start of year

94,540

89,203

Amounts advanced

104,358

106,899

Amounts repaid

(106,862

)

(101,562

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

92,036

94,540

The total amounts owed by the directors of £184,072 (2025: £189,081) are repayable on demand and are included in Debtors: Amounts falling due within one year.

Interest has been charged on the overdrawn loan accounts at the rate of 3.75% (2025: 2.25%) per annum.

11.	RELATED PARTY DISCLOSURES

During the year the company incurred rental expenses of £24,000 (2025: £24,000) from a partnership under the common control of the directors J A Elsworth and E Williams.

The company was controlled throughout the year by the directors, by virtue of the fact, they own 100% of the company's share capital.