REGISTERED NUMBER: 13296711 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

NEXT STEPS PROPERTY LTD

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Property, plant and equipment

4

7,500

10,000

Investment property

5

1,814,871

1,814,871

1,822,371

1,824,871

CURRENT ASSETS

Cash at bank and in hand

575

100

CREDITORS

Amounts falling due within one year

6

819,172

910,426

NET CURRENT LIABILITIES

(818,597

)

(910,326

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,003,774

914,545

CREDITORS

Amounts falling due after more than one year

7

(998,286

)

(1,048,129

)

PROVISIONS FOR LIABILITIES

9

(1,875

)

(1,900

)

NET ASSETS/(LIABILITIES)

3,613

(135,484

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,513

(135,584

)

3,613

(135,484

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 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 31 March 2026 and were signed on its behalf by:

Dr M Warda - Director

1.	STATUTORY INFORMATION

Next Steps Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

13296711

Registered office:

1 Kings Avenue

Winchmore Hill

London

N21 3NA

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.

The accounts have been prepared for a period of 12 months whereas the comparatives are for a period of 15 months.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates involved in the preparation of the financial statements.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer.

Investment property

Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalent

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1 July 2024

and 30 June 2025

10,000

DEPRECIATION

Charge for year

2,500

At 30 June 2025

2,500

NET BOOK VALUE

At 30 June 2025

7,500

At 30 June 2024

10,000

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2024

and 30 June 2025

1,814,871

NET BOOK VALUE

At 30 June 2025

1,814,871

At 30 June 2024

1,814,871

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

1,814,871

1,814,871

The investment property was valued on an open market basis on 30 June 2025 by directors.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

18,289

19,445

Trade creditors

2,896

7,584

Taxation and social security

2,693

-

Other creditors

795,294

883,397

819,172

910,426

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

998,286

1,048,129

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

998,286

1,048,129

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

540,680

542,150

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

1,875

1,900

Deferred

tax

£

Balance at 1 July 2024

1,900

Credit to Income Statement during year

(25

)

Balance at 30 June 2025

1,875

10.	RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £583,954 (2024: £745,590) due to the connected company with common directorship and shareholding.The amount is interest free and repayable on demand.

Included in other creditors less than one year is an amount of £204,560 (2024: £135,407) due to a shareholder of the company. The amount is interest free and repayable on demand.