REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
SHAPES SOCIAL ENTERPRISE LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
SHAPES SOCIAL ENTERPRISE LTD |
SHAPES SOCIAL ENTERPRISE LTD (REGISTERED NUMBER: 08894513) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SHAPES SOCIAL ENTERPRISE LTD |
COMPANY INFORMATION |
for the year ended 31 March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Preston Park House |
South Road |
Brighton |
East Sussex |
BN1 6SB |
SHAPES SOCIAL ENTERPRISE LTD (REGISTERED NUMBER: 08894513) |
BALANCE SHEET |
31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SHAPES SOCIAL ENTERPRISE LTD (REGISTERED NUMBER: 08894513) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Shapes Social Enterprise Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address and business address can be found on the Company information page. |
The presentational currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
Financial assets, liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Fixed asset investments |
Fixed asset investments are measured at fair value, with changes in the fair value recognised in the profit or loss account. The investments are managed by a broker who revalues the investments on a quarterly basis, including at the year-end. |
Impairment |
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
SHAPES SOCIAL ENTERPRISE LTD (REGISTERED NUMBER: 08894513) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2023 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Listed |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2022 | 145,151 |
Disposals | ( |
) | (145,149 | ) |
At 31 March 2023 | 2 |
NET BOOK VALUE |
At 31 March 2023 | 2 |
At 31 March 2022 | 145,151 |
Cost or valuation at 31 March 2023 is represented by: |
Shares in |
group |
undertakings |
£ |
Cost | 2 |
The historical cost of the shares in group undertakings is £2 (2022: £2). |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
SHAPES SOCIAL ENTERPRISE LTD (REGISTERED NUMBER: 08894513) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2023 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
50 | Ordinary A | £0.04 | - | 2 |
50 | Ordinary B | £0.04 | - | 2 |
100 | Ordinary | £0.04 | 4 | - |
2 | Preference | £0.04 | 0.08 | - |
On 23 March 2023, 50 Ordinary A and 50 Ordinary B shares of £0.04 each were reassigned to 100 Ordinary shares of £0.04 each. 2 Preference shares of £0.04 each were also issued on 23 March 2023. |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At 31 March 2023 key management personnel owed the company £nil (2022: £201,439). |
During the year interest was charged by the company at a rate of 2% totalling £7,517 (2022: £4,009). |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of the exemption under FRS 102 from disclosing transactions between the company and its subsidiary, Triangle Consulting Social Enterprise Limited. |
10. | ULTIMATE CONTROLLING PARTY |
Triangle Consulting Social Enterprise Corporate Trustee Limited holds 100% of the share capital in Shapes Social Enterprise Limited in its capacity as corporate trustee for the Triangle Consulting Social Enterprise Employee Ownership Trust. It does not produce consolidated accounts as there is no requirement to do so. |
The ultimate controlling parties are the trustees of the Triangle Consulting Social Enterprise Employee Ownership Trust. |