The Steppes Care Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04196577 (England and Wales)

Financial Statements

for the Year Ended 31 July 2020

for

The Steppes Care Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

J T Ashbee

SECRETARIES:

Mrs D Hudd

S P Ashbee

REGISTERED OFFICE:

The Steppes

Cossack Square

Nailsworth

Stroud

Gloucestershire

GL6 0DB

REGISTERED NUMBER:

04196577 (England and Wales)

ACCOUNTANTS:

GCSD Accountants Limited

701 Stonehouse Park

Sperry Way

Stonehouse

Gloucestershire

GL10 3UT

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Steppes Care Limited for the year ended 31 July 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of The Steppes Care Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Steppes Care Limited and state those matters that we have agreed to state to the director of The Steppes Care Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Steppes Care Limited and its director for our work or for this report.

It is your duty to ensure that The Steppes Care Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Steppes Care Limited. You consider that The Steppes Care Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Steppes Care Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GCSD Accountants Limited

28 April 2021

FIXED ASSETS

Tangible assets

4

881,712

876,948

CURRENT ASSETS

Stocks

3,666

2,466

Debtors

5

26,481

23,496

Cash at bank and in hand

135,359

139,726

165,506

165,688

CREDITORS

Amounts falling due within one year

6

176,603

151,749

NET CURRENT (LIABILITIES)/ASSETS

(11,097

)

13,939

TOTAL ASSETS LESS CURRENT LIABILITIES

870,615

890,887

CREDITORS

Amounts falling due after more than one year

7

(350,687

)

(389,673

)

PROVISIONS FOR LIABILITIES

(12,820

)

(11,694

)

NET ASSETS

507,108

489,520

CAPITAL AND RESERVES

Called up share capital

200

200

Capital redemption reserve

40

40

Retained earnings

506,868

489,280

SHAREHOLDERS' FUNDS

507,108

489,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 April 2021 and were signed by:

J T Ashbee - Director

1.	STATUTORY INFORMATION

The Steppes Care 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Coronavirus job retention scheme grants

Coronavirus Job Retention Scheme Grants have been recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2019 - 35 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 August 2019

200,000

596,032

86,118

Additions

-

-

7,116

At 31 July 2020

200,000

596,032

93,234

DEPRECIATION

At 1 August 2019

-

-

64,861

Charge for year

-

-

7,094

At 31 July 2020

-

-

71,955

NET BOOK VALUE

At 31 July 2020

200,000

596,032

21,279

At 31 July 2019

200,000

596,032

21,257

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 August 2019

66,325

49,918

16,146

1,014,539

Additions

11,472

8,500

2,440

29,528

At 31 July 2020

77,797

58,418

18,586

1,044,067

DEPRECIATION

At 1 August 2019

44,268

16,176

12,286

137,591

Charge for year

5,030

10,561

2,079

24,764

At 31 July 2020

49,298

26,737

14,365

162,355

NET BOOK VALUE

At 31 July 2020

28,499

31,681

4,221

881,712

At 31 July 2019

22,057

33,742

3,860

876,948

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 August 2019

and 31 July 2020

28,723

DEPRECIATION

At 1 August 2019

7,181

Charge for year

5,386

At 31 July 2020

12,567

NET BOOK VALUE

At 31 July 2020

16,156

At 31 July 2019

21,542

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

20,358

19,159

Other debtors

6,123

4,337

26,481

23,496

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

34,148

34,580

Hire purchase contracts

3,101

2,485

Trade creditors

15,842

15,533

Taxation and social security

75,788

59,799

Other creditors

47,724

39,352

176,603

151,749

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

333,690

369,575

Hire purchase contracts

16,997

20,098

350,687

389,673

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

367,838

404,155

The bank loan is secured by way of a fixed charge of all assets of the company dated 10 September 2001 to include freehold land, plant and equipment etc, and all book debts.