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Registered number: 05474055
First Step Property Services Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2025
Smith Hannah Limited
Chartered Certified Accountants
50 Woodgate
Leicester
LE3 5GF
First Step Property Services Ltd
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—5

Page 1
First Step Property Services Ltd
Balance Sheet
As At 30 November 2025
Balance Sheet
Registered number: 05474055

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 14,449 |  | 27,038
|  |  | 14,449 |  | 27,038
CURRENT ASSETS
Debtors | 5 | 170,628 |  | 202,938 |
Cash at bank and in hand |  | 486,387 |  | 486,870 |
|  | 657,015 |  | 689,808 |
Creditors: Amounts Falling Due Within One Year | 6 | (388,278 ) |  | (391,882 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 268,737 |  | 297,926
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 283,186 |  | 324,964
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (3,612 ) |  | (6,760 )
NET ASSETS |  |  | 279,574 |  | 318,204
CAPITAL AND RESERVES
Called up share capital |  |  | 2 |  | 2
Profit and Loss Account |  |  | 279,572 |  | 318,202
SHAREHOLDERS' FUNDS |  |  | 279,574 |  | 318,204

Page 1
Page 2
First Step Property Services Ltd
Balance Sheet (continued)
As At 30 November 2025
For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr Ilyas Musa Director
19 March 2026

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
First Step Property Services Ltd
Notes to the Financial Statements
For The Year Ended 30 November 2025
Notes to the Financial Statements
1. General Information
First Step Property Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05474055 . The registered office is 1-3 Coventry Road, Ilford, Essex, IG1 4QR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery | 25% Reducing Balance
Motor Vehicles | 25% Reducing Balance

2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
First Step Property Services Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025
2.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2024: 10)
10 10
4. Tangible Assets

| Plant & Machinery | Motor Vehicles | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 December 2024 | 28,448 | 99,549 | 127,997
Additions | 975 | - | 975
As at 30 November 2025 | 29,423 | 99,549 | 128,972
Depreciation
As at 1 December 2024 | 23,724 | 77,235 | 100,959
Provided during the period | 1,242 | 12,322 | 13,564
As at 30 November 2025 | 24,966 | 89,557 | 114,523

...CONTINUED
Page 4
Page 5
First Step Property Services Ltd
Notes to the Financial Statements (continued)
For The Year Ended 30 November 2025

Net Book Value
As at 30 November 2025 | 4,457 | 9,992 | 14,449
As at 1 December 2024 | 4,724 | 22,314 | 27,038

5. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 110,066 |  | 137,981
Other debtors | 60,562 |  | 64,957
| 170,628 |  | 202,938

6. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 120,642 |  | 101,687
Corporation tax | 65,591 |  | 48,640
Other taxes and social security | 22,725 |  | 19,790
Other creditors | 96,415 |  | 100,165
Amounts owed to group undertakings | 82,905 |  | 121,600
| 388,278 |  | 391,882

7. Ultimate Controlling Party
The company's ultimate parent undertaking is I Z Holdings Limited, incorporated in England & Wales.
Page 5