Company Registration No. 13171288 (England and Wales)
Socolo Ltd
Unaudited accounts
for the year ended 31 March 2024
Socolo Ltd
Unaudited accounts
Contents
Socolo Ltd
Company Information
for the year ended 31 March 2024
Company Number
13171288 (England and Wales)
Registered Office
Studio AR12 Arbor House
Moulding Lane
London
SE14 6BS
United Kingdom
Socolo Ltd
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
5,664
3,699
Creditors: amounts falling due within one year
(78,826)
(58,030)
Net current liabilities
(59,593)
(38,324)
Net liabilities
(59,457)
(36,154)
Called up share capital
10
10
Profit and loss account
(59,467)
(36,164)
Shareholders' funds
(59,457)
(36,154)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 November 2024 and were signed on its behalf by
Chantal Gagnon
Director
Company Registration No. 13171288
Socolo Ltd
Notes to the Accounts
for the year ended 31 March 2024
Socolo Ltd is a private company, limited by shares, registered in England and Wales, registration number 13171288. The registered office is Studio AR12 Arbor House, Moulding Lane, London, SE14 6BS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Revenue, described as turnover, is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.
Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.
Tangible fixed assets and depreciation
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual
value, of each asset evenly over its expected useful life, as follows:
Plant & machinery
Three years straight line
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes any expenditure incurred in bringing the stock to its present location and condition.
The accounts are presented in £ sterling.
Socolo Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Accrued income and prepayments
159
449
6
Creditors: amounts falling due within one year
2024
2023
Loans from directors
77,936
57,900
7
Transactions with related parties
There were no material transactions with directors and shareholders that were not conducted under normal market conditions. The amounts owed to the directors are included within creditors. These balances are payable on demand.
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).