STEP ONE FINANCE LIMITED
Operating as a non-deposit taking finance house, the company provides specialist consumer credit and mortgage lending services.
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Cash
£4.7m
-44.1% vs 2024
Net assets
£2.3m
+35.3% vs 2024
Employees
61
+27.1% highest in 3 filed years
Profit before tax
£368k
-84.3% first positive since 2023
Net assets
3-year trend · vs Financials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £16,351,751 | £23,309,154 | £11,193,270 | -52% | |
| Operating profit | -£324,999 | £3,011,947 | £185,367 | -93.8% | |
| Profit before tax | -£1,083,835 | £2,340,772 | £367,938 | -84.3% | |
| Net profit | -£849,105 | £1,405,370 | £611,640 | -56.5% | |
| Cash | £416,642 | £8,348,417 | £4,664,432 | -44.1% | |
| Total assets less current liabilities | £120,268,394 | £2,721,273 | £2,685,733 | -1.3% | |
| Net assets | £10,425,805 | £1,734,269 | £2,345,909 | +35.3% | |
| Equity | £10,425,805 | £1,734,269 | £2,345,909 | +35.3% | |
| Average employees | 42 | 48 | 61 | +27.1% | |
| Wages | £1,886,930 | £3,437,318 | £3,447,586 | +0.3% | |
| Directors' remuneration | £66,000 | £64,167 | £196,212 | +205.8% | |
| Directors' pension contributions | £3,300 | £3,208 | £3,542 | +10.4% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | -2.0% | 12.9% | 1.7% | |
| Net margin | -5.2% | 6.0% | 5.5% | |
| Return on capital employed | -0.3% | 110.7% | 6.9% | |
| Gearing (liabilities / total assets) | 91.4% | 85.1% | 75.7% | |
| Current ratio | — | 1.28x | 1.51x | |
| Interest cover | -0.43x | 3.22x | — |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Ecovis Wingrave Yeats LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements are prepared on a going concern basis. The Consolidated Statement of Comprehensive Income shows that the Group made a profit in the year of £611,640 (2024 restated - £1,405,370) and has a net asset position of £2,345,909 (2024 - restated £1,734,269).”
Group structure
- STEP ONE FINANCE LIMITED · parent
- SOFL Funding III Limited 100%
- SOFL Funding IV Limited 100%
- SOFL Funding V Limited 100%
- SOFL Funding VI Limited 100%
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. 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 92 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-10-19 RESOLUTIONS Resolution
- 2024-10-19 RESOLUTIONS Resolution
- 2024-10-19 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-25 | AA | accounts | Accounts with accounts type group | |
| 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 |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 3
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.