Social Care Network Solutions Limited
Registered number: 03223082
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 292,589 295,262
Current assets
Debtors 4 334,135 413,838
Cash at bank and in hand 230,578 266,888
564,713 680,726
Creditors: amounts falling due within one year 5 (379,952) (482,189)
Net current assets 184,761 198,537
Net assets 477,350 493,799
Capital and reserves
Called up share capital 80 80
Profit and loss account 477,270 493,719
Shareholders' funds 477,350 493,799
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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
JD Moores
Director
Approved by the board on 6 July 2023
Social Care Network Solutions Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land and buildings, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 66 57
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 284,569 123,905 408,474
At 31 March 2023 284,569 123,905 408,474
Depreciation
At 1 April 2022 - 113,212 113,212
Charge for the year - 2,673 2,673
At 31 March 2023 - 115,885 115,885
Net book value
At 31 March 2023 284,569 8,020 292,589
At 31 March 2022 284,569 10,693 295,262
4 Debtors 2023 2022
£ £
Trade debtors 242,384 379,902
Other debtors 91,751 33,936
334,135 413,838
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 45,567 61,961
Corporation tax - 91,448
Other taxes and social security costs 213,865 208,260
Other creditors 120,520 120,520
379,952 482,189
6 Related party transactions
Other debtors include £89717 (2022:£31901) owing from a US entity which Mr J Moores owns . Mr Moores is also a director and majority shareholder of Social Care Network Solutions Ltd.
7 Controlling party
The controlling party is Mr JD Moores by virtue of his ownership of 60% of the issued share capital
8 Other information
Social Care Network Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
49 Bridge Street
Heywood
Rochdale
OL10 1JF
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