Step Properties Ltd - Filleted accounts

Registered number

09591379

Step Properties Ltd

Filleted Accounts

31 May 2026

Step Properties Ltd
Registered number:		09591379
Balance Sheet
as at 31 May 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		865,580			429,599

Current assets
Cash at bank and in hand		29,436			10,111

Creditors: amounts falling due within one year	4	(6,627)			(3,475)

Net current assets			22,809			6,636

Total assets less current liabilities			888,389			436,235

Creditors: amounts falling due after more than one year	5		(909,327)			(442,535)



Net liabilities			(20,938)			(6,300)

Capital and reserves
Called up share capital			100			100
Profit and loss account			(21,038)			(6,400)

Shareholders' funds			(20,938)			(6,300)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr M Georgiou
Director
Approved by the board on 3 August 2026

Step Properties Ltd
Notes to the Accounts
for the year ended 31 May 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land and properties.
	Investments
	Investment properties for which a fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in the profit and loss.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees	2026		2025
Number			Number

	Average number of persons employed by the company	0		0


3	Tangible fixed assets
				Land and buildings
£
	Cost
	At 1 June 2025			429,599
	Additions			435,981
	At 31 May 2026			865,580

	Depreciation
	At 31 May 2026			-

	Net book value
	At 31 May 2026			865,580


	Freehold land and buildings:	2026		2025
£			£
	Historical cost	865,580		429,599
	Cumulative depreciation based on historical cost	-		-
		865,580		429,599
	The above valuation has been reviewed by the directors and considered that there is no major difference from the previous years.


4	Creditors: amounts falling due within one year	2026		2025
£			£

	Other creditors	6,627		3,475


5	Creditors: amounts falling due after one year	2026		2025
£			£

	Bank loans	393,567		192,535
	Other loans	515,760		250,000
		909,327		442,535


6	Loans	2026		2025
£			£
	Creditors include:

	Secured bank loans	393,567		192,535

	Bank loan loan is secured over the company's assets and the directors personally.


7	Related party transactions

	At the balance sheet date an amount of £2,675 was due from the company to the directors. The company borrowed £500,000(note 5) from Step Teachers Ltd . The interest charged was £3% p a. amounting to £15,760 Both companies are controlled by the same directors.


8	Controlling party

	The company is controlled by Mr M and Mr G Georgiou, the directors of the company.


9	Other information

	Step Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 2 Mountview Court
	310 Friern Barnet
	London
	N20 OLD