The Steppes Care Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04196577 (England and Wales)

Financial Statements

for the Year Ended 31 July 2023

for

The Steppes Care Limited

Page

Company Information

1

Report of the Accountants

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 and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company 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. You consider that the Company 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 Company. 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

26 April 2024

FIXED ASSETS

Tangible assets

4

950,088

933,436

Investment property

5

156,228

-

1,106,316

933,436

CURRENT ASSETS

Stocks

3,411

3,061

Debtors

6

29,184

34,384

Cash at bank and in hand

47,585

156,725

80,180

194,170

CREDITORS

Amounts falling due within one year

7

302,312

192,897

NET CURRENT (LIABILITIES)/ASSETS

(222,132

)

1,273

TOTAL ASSETS LESS CURRENT LIABILITIES

884,184

934,709

CREDITORS

Amounts falling due after more than one year

8

(215,926

)

(249,189

)

PROVISIONS FOR LIABILITIES

(13,922

)

(13,489

)

NET ASSETS

654,336

672,031

CAPITAL AND RESERVES

Called up share capital

200

200

Capital redemption reserve

40

40

Retained earnings

654,096

671,791

SHAREHOLDERS' FUNDS

654,336

672,031

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 April 2024 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

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

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 33 (2022 - 32 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 August 2022

200,000

663,397

107,014

Additions

-

15,882

14,377

At 31 July 2023

200,000

679,279

121,391

DEPRECIATION

At 1 August 2022

-

-

86,406

Charge for year

-

-

8,746

At 31 July 2023

-

-

95,152

NET BOOK VALUE

At 31 July 2023

200,000

679,279

26,239

At 31 July 2022

200,000

663,397

20,608

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 August 2022

87,681

58,418

21,476

1,137,986

Additions

3,494

-

2,896

36,649

At 31 July 2023

91,175

58,418

24,372

1,174,635

DEPRECIATION

At 1 August 2022

59,263

40,597

18,284

204,550

Charge for year

4,786

4,456

2,009

19,997

At 31 July 2023

64,049

45,053

20,293

224,547

NET BOOK VALUE

At 31 July 2023

27,126

13,365

4,079

950,088

At 31 July 2022

28,418

17,821

3,192

933,436

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

Motor

vehicles

£

COST

At 1 August 2022

28,723

Transfer to ownership

(28,723

)

At 31 July 2023

-

DEPRECIATION

At 1 August 2022

19,635

Transfer to ownership

(19,635

)

At 31 July 2023

-

NET BOOK VALUE

At 31 July 2023

-

At 31 July 2022

9,088

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

156,228

At 31 July 2023

156,228

NET BOOK VALUE

At 31 July 2023

156,228

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

19,837

25,870

Other debtors

9,347

8,514

29,184

34,384

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

95,368

39,817

Trade creditors

24,593

17,764

Taxation and social security

111,190

89,142

Other creditors

71,161

46,174

302,312

192,897

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

215,926

249,189

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

310,966

289,006

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.