Step Teachers Limited - Abbreviated accounts

STEP TEACHERS LIMITED - Company Information

Registered number

04131194

Step Teachers Limited

Abbreviated Accounts

31 July 2016

Step Teachers Limited

Report to the directors on the preparation of the unaudited abbreviated accounts of Step Teachers Limited for the year ended 31 July 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Step Teachers Limited for the year ended 31 July 2016 which comprise of the 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.

C & V Associates
Chartered Certified Accountants
57 Park View
London
N21 1QS

29 March 2017

Step Teachers Limited
Registered number:		04131194
Abbreviated Balance Sheet
as at 31 July 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		2,015,798			1,713,279

Current assets
Debtors		732,598			562,605
Cash at bank and in hand		1,180,192			1,206,873
		1,912,790			1,769,478

Creditors: amounts falling due within one year		(860,011)			(699,510)

Net current assets			1,052,779			1,069,968

Total assets less current liabilities			3,068,577			2,783,247

Creditors: amounts falling due after more than one year			(1,322,513)			(1,164,330)



Net assets			1,746,064			1,618,917

Capital and reserves
Called up share capital	4		1,862			1,862
Share premium			2,548			2,548
Capital redemption reserve			450			450
Profit and loss account			1,741,204			1,614,057

Shareholders' funds			1,746,064			1,618,917

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mr M Georgiou
Director
Approved by the board on 29 March 2017

Step Teachers Limited
Notes to the Abbreviated Accounts
for the year ended 31 July 2016

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Fixtures and Fittings			25% reducing balance

	Investment properties
	Investment properties are revalued annually at their open market value in accordance with FRSSE (effective January 2015). The surplus or deficit on revaluation is tranfered to a revaluation reserve except where the deficit reduces the property below its historical cost, in which case it is taken to profit and loss account. No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more singificance than any measure of consumption and to depreciate them would not give a true and fair view. The provision of the FRSSE (effective January 2015) in respect of investment properties have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separately identified or quantified.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.





2	Tangible fixed assets					£

	Cost
	At 1 August 2015					1,789,250
	Additions					314,709
	At 31 July 2016					2,103,959

	Depreciation
	At 1 August 2015					75,973
	Charge for the year					12,188
	At 31 July 2016					88,161

	Net book value
	At 31 July 2016					2,015,798
	At 31 July 2015					1,713,277


3	Loans					2016		2015
£							£
	Creditors include:
	Amounts falling due for payment after more than five years					1,322,513		1,614,057


4	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		1,862		1,862		1,862