First Step The Housing Partners Ltd - Period Ending 2019-03-31

Registration number: 07140080

First Step The Housing Partners Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2019

Rothmere
institute of certified practising accountants
Abacus House
93 High Street
Huntingdon
Cambridgeshire
PE29 3DP

First Step The Housing Partners Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 6

First Step The Housing Partners Ltd

Company Information

Directors

Mr David N Taylor Mrs Julie Harwood

Registered office

Abacus House 93 High Street Huntingdon Cambridgeshire PE29 3DP

Accountants

Rothmere institute of certified practising accountants Abacus House 93 High Street Huntingdon Cambridgeshire PE29 3DP

Page 1

First Step The Housing Partners Ltd

(Registration number: 07140080)
Balance Sheet as at 31 March 2019

	Note	2019 £	2018 £
Fixed assets
Tangible assets	3	19,793	-
Current assets
Debtors	4	228,140	146,896
Cash at bank and in hand		13,226	-
		241,366	146,896
Creditors: Amounts falling due within one year	5	(146,486)	(28,722)
Net current assets		94,880	118,174
Total assets less current liabilities		114,673	118,174
Creditors: Amounts falling due after more than one year	5	(13,012)	-
Net assets		101,661	118,174
Capital and reserves
Called up share capital	6	100	100
Profit and loss account		101,561	118,074
Total equity		101,661	118,174

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 2

First Step The Housing Partners Ltd

(Registration number: 07140080)
Balance Sheet as at 31 March 2019

For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 11 December 2019 and signed on its behalf by:
 

......................................... Mr David N Taylor Director

......................................... Mrs Julie Harwood Director

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 3

First Step The Housing Partners Ltd

Notes to the Financial Statements for the Year Ended 31 March 2019

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Abacus House
93 High Street
Huntingdon
Cambridgeshire
PE29 3DP

These financial statements were authorised for issue by the Board on 11 December 2019.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Vehicles	25% Straight line
Office equipment	50 % Straight line
Furniture and fittings	50% Straight line

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Page 4

First Step The Housing Partners Ltd

Notes to the Financial Statements for the Year Ended 31 March 2019

3	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2018	18,370	-	18,370
Additions	6,602	21,990	28,592
At 31 March 2019	24,972	21,990	46,962
Depreciation
At 1 April 2018	18,370	-	18,370
Charge for the year	3,301	5,498	8,799
At 31 March 2019	21,671	5,498	27,169
Carrying amount
At 31 March 2019	3,301	16,492	19,793

4

Debtors

	2019 £	2018 £
Trade debtors	226,061	25,469
Other debtors	2,079	121,427
	228,140	146,896

Page 5

First Step The Housing Partners Ltd

Notes to the Financial Statements for the Year Ended 31 March 2019

5

Creditors

Creditors: amounts falling due within one year

	Note	2019 £	2018 £
Due within one year
Bank loans and overdrafts		5,130	1,106
Trade creditors		74,776	5,364
Taxation and social security		55,643	408
Other creditors		10,937	21,844
		146,486	28,722

Creditors: amounts falling due after more than one year

	Note	2019 £	2018 £
Due after one year
Loans and borrowings		13,012	-

6	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100

Page 6