UK Companies House feature
STEP ONE FINANCE LIMITED
Cash
£8M
+2,195.7% vs 2023
Net assets
£3M
-97.4% vs 2023
Employees
48
+14.3% vs 2023
Profit before tax
—
Period ending 2024-12-31
Profile
- Company number
- 07448379
- Status
- Active
- Incorporation
- 2010-11-23
- Last accounts made up
- 2024-12-31
- Account category
- GROUP
- Primary SIC
- 64921
- Hubs
- UK Fintech
Cash
3-year trend · vs UK Fintech median
Accounts
3-year trend · latest 2024-12-31
| Metric | Trend | 2023-01-01 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|
| Turnover | — | — | — | |
| Operating profit | — | — | — | |
| Profit before tax | — | — | — | |
| Net profit | — | -£1,053,440 | -£322,104 | |
| Cash | — | £354,799 | £8,144,967 | |
| Total assets less current liabilities | — | £125,815,064 | £3,279,355 | |
| Net assets | — | — | — | |
| Equity | £13,565,600 | £12,512,160 | £2,292,351 | |
| Average employees | — | 42 | 48 | |
| Wages | — | — | — |
Values shown as filed in iXBRL accounts. — indicates the figure was not present in the extracted filing (either not filed under that concept or absent from the period). About these numbers
Audit & accounting basis
From AI-extracted PDF accounts
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated (group)
- Auditor
- Ecovis Wingrave Yeats LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Subsidiaries
- SOFL Funding III Limited · 100% held · England and Wales · provision of loan financing
- SOFL Funding IV Limited · 100% held · England and Wales · provision of loan financing
- SOFL Funding V Limited · 100% held · England and Wales · provision of loan financing
- SOFL Funding VI Limited · 100% held · England and Wales · provision of loan financing
Significant events
- “The Group consolidated its loan portfolios amounting to £123.5m and sold them to a related party. This resulted in the deemed loan assets and liabilities previously recognised being de recognised. In addition, the Company converted its loan notes into preference shares.”
- “The Company undertook a capital reduction exercise, converting the share premium, preference shares and capital redemption reserve into a distributable reserve. This enabled the directors to declare a dividend to the parent company Step One Group Limited.”
- “During the year the Group made significant sales of mortgage portfolios. Management have reviewed the transactions in detail and concluded that the sale of the mortgage portfolios passed the derecognition criteria due to substantially all of the rewards of ownership being transferred.”
- “In September 2024, investors in the Group elected to convert £10,102,295 of their convertible loans into P1 preference shares. Judgement has been applied in assessing whether the preference shares should be classified as debt or equity.”
Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers
People
4 active · 1 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| JESANI, Jameel Abdulaziz, Mr. | Secretary | 2010-11-23 | — | — |
| AGARWAL, Rajiv | Director | 2025-05-01 | Dec 1955 | British |
| CHILDRESS, Michael George | Director | 2010-11-23 | Oct 1972 | British |
| JESANI, Jameel Abdulaziz | Director | 2010-11-23 | Feb 1976 | British |
Show 1 resigned officer
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CLAUSE, Eric Gamble | Director | 2016-08-15 | 2019-02-13 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Michael George Childress | Individual | Voting 25–50% | 2016-04-06 | Active |
Filing timeline
Last 20 of 91 total filings
| Date | Type | Category | Description |
|---|---|---|---|
| 2025-11-24 | CS01 | confirmation-statement | confirmation statement with updates |
| 2025-09-23 | AA | accounts | accounts with accounts type group |
| 2025-05-02 | AP01 | officers | appoint person director company with name date |
| 2025-03-25 | MR04 | mortgage | mortgage satisfy charge full |
| 2025-03-25 | MR04 | mortgage | mortgage satisfy charge full |
| 2025-03-25 | MR04 | mortgage | mortgage satisfy charge full |
| 2025-03-25 | MR04 | mortgage | mortgage satisfy charge full |
| 2024-12-08 | CS01 | confirmation-statement | confirmation statement with updates |
| 2024-12-06 | PSC04 | persons-with-significant-control | change to a person with significant control |
| 2024-11-25 | CH01 | officers | change person director company with change date |
| 2024-10-19 | RESOLUTIONS | resolution | resolution |
| 2024-10-19 | RESOLUTIONS | resolution | resolution |
| 2024-10-19 | MA | incorporation | memorandum articles |
| 2024-10-04 | SH10 | capital | capital variation of rights attached to shares |
| 2024-10-04 | SH10 | capital | capital variation of rights attached to shares |
| 2024-10-04 | SH08 | capital | capital name of class of shares |
| 2024-09-30 | SH19 | capital | capital statement capital company with date currency figure |
| 2024-09-30 | SH20 | capital | legacy |
| 2024-09-30 | CAP-SS | insolvency | legacy |
| 2024-09-30 | RESOLUTIONS | resolution | resolution |
Credit score
Altman Z″ — composite of working capital, retained earnings, EBIT, and leverage
Activity Score
Filings velocity, capital events, officer churn, accounts trajectory