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REGISTERED NUMBER: 08775064 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th November 2023

for

Socialbear Limited

Socialbear Limited (Registered number: 08775064)






Contents of the Financial Statements
for the Year Ended 30th November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Socialbear Limited

Company Information
for the Year Ended 30th November 2023







DIRECTOR: S Akhtar





REGISTERED OFFICE: 30 Churchill Place
London
E14 5RE





REGISTERED NUMBER: 08775064 (England and Wales)





ACCOUNTANTS: Sampson Fielding Ltd
34 - 35 Clarges Street
Mayfair
London
W1J 7EJ

Socialbear Limited (Registered number: 08775064)

Balance Sheet
30th November 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,797 14,242

CURRENT ASSETS
Debtors 5 204,232 165,189
Prepayments and accrued income - 235
Cash at bank 2,071,108 1,425,809
2,275,340 1,591,233
CREDITORS
Amounts falling due within one year 6 373,250 512,972
NET CURRENT ASSETS 1,902,090 1,078,261
TOTAL ASSETS LESS CURRENT LIABILITIES 1,910,887 1,092,503

PROVISIONS FOR LIABILITIES 2,199 2,706
NET ASSETS 1,908,688 1,089,797

CAPITAL AND RESERVES
Called up share capital 80 80
Retained earnings 1,908,608 1,089,717
1,908,688 1,089,797

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28th August 2024 and were signed by:





S Akhtar - Director


Socialbear Limited (Registered number: 08775064)

Notes to the Financial Statements
for the Year Ended 30th November 2023

1. STATUTORY INFORMATION

Socialbear Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Estimates of useful economic lives of fixed assets have been made in order to include depreciation and amortisation rates comparable with the rate at which the value of the assets should be recognised in the Statement of Comprehensive Income. No other estimates of a material nature have been included in the accounts.

Turnover
Turnover represents net invoiced sales of services excluding value added tax.

Services provided but which had not been billed at the balance sheet date have been recognised as revenue. Revenue recognition in this manner is based on an assessment of the fair value of the services provided at the balance sheet date where there exists an agreed right to receive consideration for work undertaken. Accrued income is included in the financial statements as a current asset.

Services which have been billed at the balance sheet date but not yet earned have been recognised as deferred income. Revenue recognition in the manner is based on an assessment of the fair value of the services not provided at the balance sheet date. Deferred income is included in the financial statements as a liability.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life.

Computer equipment -33% on cost

Fixtures and fittings -14% on cost

Socialbear Limited (Registered number: 08775064)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other amounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivable, are measured, initially and subsequentially, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not market rate or in case of an outright short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt
instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evident of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Trade and other debtors
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at their fair value less transaction costs and subsequently at amortised cost, net of impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand and short term deposits with an original maturity rate of three months or less.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Socialbear Limited (Registered number: 08775064)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The director continues to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st December 2022
and 30th November 2023 20,512
DEPRECIATION
At 1st December 2022 6,270
Charge for year 5,445
At 30th November 2023 11,715
NET BOOK VALUE
At 30th November 2023 8,797
At 30th November 2022 14,242

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Trade debtors 200,710 161,979
Other debtors 3,522 3,210
204,232 165,189

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Trade creditors 10,842 5,827
Taxation and social security 360,945 506,433
Other creditors 1,463 712
373,250 512,972

7. ULTIMATE CONTROLLING PARTY

The controlling party is S Akhtar.