IRIS Accounts Production v24.1.4.33 09434003 director 1.3.23 28.2.24 28.2.24 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure094340032023-02-28094340032024-02-28094340032023-03-012024-02-28094340032022-02-28094340032022-03-012023-02-28094340032023-02-2809434003ns16:EnglandWales2023-03-012024-02-2809434003ns15:PoundSterling2023-03-012024-02-2809434003ns11:Director12023-03-012024-02-2809434003ns11:PrivateLimitedCompanyLtd2023-03-012024-02-2809434003ns11:SmallEntities2023-03-012024-02-2809434003ns11:AuditExempt-NoAccountantsReport2023-03-012024-02-2809434003ns11:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2809434003ns11:SmallCompaniesRegimeForAccounts2023-03-012024-02-2809434003ns11:FullAccounts2023-03-012024-02-2809434003ns11:RegisteredOffice2023-03-012024-02-2809434003ns6:CurrentFinancialInstruments2024-02-2809434003ns6:CurrentFinancialInstruments2023-02-2809434003ns6:Non-currentFinancialInstruments2024-02-2809434003ns6:Non-currentFinancialInstruments2023-02-2809434003ns6:ShareCapital2024-02-2809434003ns6:ShareCapital2023-02-2809434003ns6:RetainedEarningsAccumulatedLosses2024-02-2809434003ns6:RetainedEarningsAccumulatedLosses2023-02-2809434003ns6:PlantMachinery2023-03-012024-02-2809434003ns6:MotorVehicles2023-03-012024-02-2809434003ns6:ComputerEquipment2023-03-012024-02-2809434003ns6:PlantMachinery2023-02-2809434003ns6:MotorVehicles2023-02-2809434003ns6:ComputerEquipment2023-02-2809434003ns6:PlantMachinery2024-02-2809434003ns6:MotorVehicles2024-02-2809434003ns6:ComputerEquipment2024-02-2809434003ns6:PlantMachinery2023-02-2809434003ns6:MotorVehicles2023-02-2809434003ns6:ComputerEquipment2023-02-28
REGISTERED NUMBER: 09434003 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024

FOR

ISOCIAL LTD

ISOCIAL LTD (REGISTERED NUMBER: 09434003)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ISOCIAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTOR: C K Kyriacou





REGISTERED OFFICE: 11 Mahlon Avenue
Ruislip
HA4 6SY





REGISTERED NUMBER: 09434003 (England and Wales)






ISOCIAL LTD (REGISTERED NUMBER: 09434003)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,313 26,331

CURRENT ASSETS
Cash at bank 23,959 52

CREDITORS
Amounts falling due within one year 5 40,711 12,163
NET CURRENT LIABILITIES (16,752 ) (12,111 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,561

14,220

CREDITORS
Amounts falling due after more than one
year

6

19,471

17,642
NET LIABILITIES (13,910 ) (3,422 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (13,911 ) (3,423 )
SHAREHOLDERS' FUNDS (13,910 ) (3,422 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 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 28 November 2024 and were signed by:





C K Kyriacou - Director


ISOCIAL LTD (REGISTERED NUMBER: 09434003)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

1. STATUTORY INFORMATION

iSocial Ltd 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.

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 have been prepared on a going concern basis since the director is satisfied that the
company will have adequate resources to meet its expected liabilities to third parties as they fall due for the
foreseeable future.

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

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 - 33% on cost
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on reducing balance

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

ISOCIAL LTD (REGISTERED NUMBER: 09434003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023
and 28 February 2024 2,066 38,164 849 41,079
DEPRECIATION
At 1 March 2023 2,066 12,212 470 14,748
Charge for year - 3,893 125 4,018
At 28 February 2024 2,066 16,105 595 18,766
NET BOOK VALUE
At 28 February 2024 - 22,059 254 22,313
At 28 February 2023 - 25,952 379 26,331

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 3,098 7,877
Other creditors 37,613 4,286
40,711 12,163

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 19,471 17,642

7. RELATED PARTY DISCLOSURES

Included within creditors, amounts falling due in one year, is an interest free loan of £12,621 (2023: £4,285) due to the director of the company.