FIRST STEPS LETTING LIMITED

FIRST STEPS LETTING LIMITED

FIRST STEPS LETTING LIMITED - Company Information

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FIRST STEPS LETTING LIMITED

Company Registration Number:
09419725 (England and Wales)

Unaudited abridged accounts for the year ended 28 February 2019

Period of accounts

Start date: 01 March 2018

End date: 28 February 2019

FIRST STEPS LETTING LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2019

Balance sheet
Notes

FIRST STEPS LETTING LIMITED

Balance sheet

As at 28 February 2019


Notes
2019
2018


£
£
Fixed assets
Tangible assets: 3 647 863
Investments: 4 10,132
Total fixed assets: 10,779 863
Current assets
Debtors:   8,726
Cash at bank and in hand: 8,503 51,151
Total current assets: 17,229 51,151
Creditors: amounts falling due within one year:   (19,753) (45,893)
Net current assets (liabilities): (2,524) 5,258
Total assets less current liabilities: 8,255 6,121
Total net assets (liabilities): 8,255 6,121
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 8,155 6,021
Shareholders funds: 8,255 6,121

The notes form part of these financial statements

FIRST STEPS LETTING LIMITED

Balance sheet statements

For the year ending 28 February 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 November 2019
and signed on behalf of the board by:

Name: P Goodman
Status: Director

The notes form part of these financial statements

FIRST STEPS LETTING LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied. It is recognised to the extent that it is probable that the economic benefit will flow to the Company and the turnover can be reliably measured. The following criteria must also be met before turnover is recognised:Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent impairment losses.

Other accounting policies

Deferred taxDeferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing differenceCorporation TaxThe taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

FIRST STEPS LETTING LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2019

2. Employees

2019 2018
Average number of employees during the period 5 2

FIRST STEPS LETTING LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2019

3. Tangible Assets

Total
Cost £
At 01 March 2018 1,534
At 28 February 2019 1,534
Depreciation
At 01 March 2018 671
Charge for year 216
At 28 February 2019 887
Net book value
At 28 February 2019 647
At 28 February 2018 863

FIRST STEPS LETTING LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2019

4. Fixed investments

Investment property which is property held to earn rentals and/or for capital appreciation, 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 end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

FIRST STEPS LETTING LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2019

5. Related party transactions

There were no Related Party Transactions undertaken within the year, with all transactions being undertaken at arm’s length.