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Registration number: 09723821

Social Edge Limited

trading as Social Edge

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Social Edge Limited

trading as Social Edge

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Social Edge Limited

trading as Social Edge

(Registration number: 09723821)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

6,816

3,148

Current assets

 

Debtors

104,923

1,772

Cash at bank and in hand

 

6,007

48,724

 

110,930

50,496

Creditors: Amounts falling due within one year

6

(113,340)

(28,197)

Net current (liabilities)/assets

 

(2,410)

22,299

Net assets

 

4,406

25,447

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

4,405

25,446

Shareholders' funds

 

4,406

25,447

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 30 August 2024
 

Mr J B Sorkin
Director

   
     
 

Social Edge Limited

trading as Social Edge

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Parkhill Studio
Walton Road
Wetherby
West Yorkshire
LS22 5DZ
England

These financial statements were authorised for issue by the director on 30 August 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Social Edge Limited

trading as Social Edge

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Social Edge Limited

trading as Social Edge

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% straight line

Instagram accounts

25% straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

1,333

1,250

 

Social Edge Limited

trading as Social Edge

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Instagram accounts
 £

Total
£

Cost or valuation

At 1 September 2022

1,865

2,533

4,398

Additions

-

5,000

5,000

At 31 August 2023

1,865

7,533

9,398

Depreciation

At 1 September 2022

616

634

1,250

Charge for the year

616

716

1,332

At 31 August 2023

1,232

1,350

2,582

Carrying amount

At 31 August 2023

633

6,183

6,816

At 31 August 2022

1,249

1,899

3,148

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

112,500

26,817

Accruals and deferred income

 

840

600

Other creditors

 

-

780

 

113,340

28,197

 

Social Edge Limited

trading as Social Edge

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £0.01 each

100

1

100

1

       

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank overdrafts

1,486

-

Other borrowings

111,014

26,817

112,500

26,817