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REGISTERED NUMBER: SC415583 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Social Enterprise Direct

Social Enterprise Direct (Registered number: SC415583)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Social Enterprise Direct

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A Bartlett
D Alexander
Ms S Hester
A Little





REGISTERED OFFICE: Mercantile Chambers
39-69 Bothwell Street
Glasgow
G2 6TS





REGISTERED NUMBER: SC415583 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Social Enterprise Direct (Registered number: SC415583)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,993 9,440
18,993 9,440

CURRENT ASSETS
Debtors 6 31,958 45,234
Cash at bank and in hand 54,141 157,562
86,099 202,796
CREDITORS
Amounts falling due within one year 7 21,744 53,444
NET CURRENT ASSETS 64,355 149,352
TOTAL ASSETS LESS CURRENT
LIABILITIES

83,348

158,792

PROVISIONS FOR LIABILITIES - 1,794
NET ASSETS 83,348 156,998

RESERVES
Income and expenditure account 83,348 156,998
83,348 156,998

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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 surplus or deficit 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.

Social Enterprise Direct (Registered number: SC415583)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:





Ms S Hester - Director


Social Enterprise Direct (Registered number: SC415583)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Social Enterprise Direct is a private company, limited by guarantee , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from group companies that are classified as debt are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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.

Social Enterprise Direct (Registered number: SC415583)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

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
During the year, the company made a loss of £80,073 (2023: profit of £31,840). The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

If the company was unable to continue in operational existence for the foreseeable future, adjustments would have to be made to amend the balance sheet values of the assets to their recoverable amounts, to provide for further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

The Directors consider that with their continued support that it is appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 146,718
AMORTISATION
At 1 April 2023
and 31 March 2024 146,718
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Social Enterprise Direct (Registered number: SC415583)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 48,609
Additions 21,455
At 31 March 2024 70,064
DEPRECIATION
At 1 April 2023 39,169
Charge for year 11,902
At 31 March 2024 51,071
NET BOOK VALUE
At 31 March 2024 18,993
At 31 March 2023 9,440

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 26,625 44,809
Amounts owed by group undertakings 704 425
Other debtors 4,629 -
31,958 45,234

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 11,133 205
Taxation and social security 8,110 49,738
Other creditors 2,501 3,501
21,744 53,444

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Advice Direct Scotland Limited (SC225689). Advice Direct Scotland Limited's registered office is Mercantile Chambers, 39-69 Bothwell Street, Glasgow, G2 6TS.

9. LIMITED BY GUARANTEE

The company is limited by guarantee, not having a share capital and consequently the liability of the members is limited, subject to an undertaking by each member to contribute to the net assets of liabilities of the company on winding up such amounts as may be required not exceeding £1.