Rightstep Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05886019 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2019

for

Rightstep Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A M Vadasz

Ms L Olbrichova

SECRETARY:

A M Vadasz

REGISTERED OFFICE:

Suite 1, 31 Sheephouse

Farnham

Surrey

GU9 8LR

REGISTERED NUMBER:

05886019 (England and Wales)

ACCOUNTANTS:

Inghams Tax & Accounting Limited

Suite 1

31 Sheephouse

Farnham

Surrey

GU9 8LR

FIXED ASSETS

Tangible assets

4

300

450

CURRENT ASSETS

Debtors

5

6,974

7,154

Cash at bank

251

3,627

7,225

10,781

CREDITORS

Amounts falling due within one year

6

9,633

4,578

NET CURRENT (LIABILITIES)/ASSETS

(2,408

)

6,203

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,108

)

6,653

PROVISIONS FOR LIABILITIES

7

-

86

NET (LIABILITIES)/ASSETS

(2,108

)

6,567

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(3,108

)

5,567

SHAREHOLDERS' FUNDS

(2,108

)

6,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 11 March 2020 and were signed on its behalf by:

A M Vadasz - Director

1.	STATUTORY INFORMATION

Rightstep Management Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

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 on a going concern basis as the company is continuing to trade

after a period where the Directors were exploring other goals. The Directors have signalled their

intention to continue trading and support the company for the foreseeable future.

Turnover

Turnover is measured at fair value and represents income derived from the ordinary activities of the

business during the year, net of vat.

Income arising from recruitment is recognised at the point the candidate physically starts employment;

contractor revenues are recognised on the basis of work undertaken.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet 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.

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 and other financial instruments

Basic financial instruments are recognised at amortised cost, with any changes in fair value being

recognised in the profit and loss.

Short term creditors are measured at the transaction price. Other financial liabilities, including bank

loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at

amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2018

and 31 October 2019

600

DEPRECIATION

At 1 November 2018

150

Charge for year

150

At 31 October 2019

300

NET BOOK VALUE

At 31 October 2019

300

At 31 October 2018

450

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Other debtors

6,974

7,154

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Taxation and social security

-

1,135

Other creditors

9,633

3,443

9,633

4,578

7.	PROVISIONS FOR LIABILITIES

Included within debtors on the company balance sheet is a deferred tax asset valued at £1,920 in

respect of carried forward losses available for corporation tax relief. The deferred tax asset has been

recognised in the accounts as there is a reasonable expectation of the losses being utilised in future

periods.

8.	RELATED PARTY DISCLOSURES

A short term loan of £5,000, repayable on demand, was made by the company to N Vadasz, brother of

director A Vadasz on 28 September 2015.

At 31 October 2019 a balance of £8,188 was owed to A Vadasz by the company.