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Company registration number: 12089041

Socialike Media Ltd

Filleted Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Socialike Media Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Socialike Media Ltd

Company Information

Director

Mr H Al-Hadithi

Registered office

20/24 Mathew Street
Liverpool
L2 6RE

Accountants

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Socialike Media Ltd
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Socialike Media Ltd for the year ended 31 January 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Socialike Media Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Socialike Media Ltd and state those matters that we have agreed to state to the Board of Directors of Socialike Media Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Socialike Media Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Socialike Media Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Socialike Media Ltd. You consider that Socialike Media Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Socialike Media Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

16 January 2025

 

Socialike Media Ltd

(Registration number: 12089041)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

13,451

11,748

Current assets

 

Debtors

5

90,158

177,899

Investments

6

15,500

-

Cash at bank and in hand

 

242,730

161,919

 

348,388

339,818

Creditors: Amounts falling due within one year

7

(174,239)

(110,919)

Net current assets

 

174,149

228,899

Total assets less current liabilities

 

187,600

240,647

Provisions for liabilities

(3,363)

(2,232)

Net assets

 

184,237

238,415

Capital and reserves

 

Called up share capital

600

1,200

Capital redemption reserve

600

-

Retained earnings

183,037

237,215

Shareholders' funds

 

184,237

238,415

For the financial year ending 31 January 2024 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Socialike Media Ltd

(Registration number: 12089041)
Balance Sheet as at 31 January 2024

Approved and authorised by the director on 16 January 2025
 

.........................................
Mr H Al-Hadithi
Director

   
     
 

Socialike Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
20/24 Mathew Street
Liverpool
L2 6RE
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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. The financial statements are prepared in sterling, which is the functional currency of the entity.

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 value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Deferred tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Socialike Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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.

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

Fixtures, fittings and equipment

15% Reducing balance

Office equipment

33% Straight line

Investments

Current asset investments are stated at the lower of cost and net realisable value.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 3).

4

Tangible assets

Fixtures, fittings and equipment
£

Office equipment
£

Total
£

Cost or valuation

At 1 February 2023

6,941

8,772

15,713

Additions

2,518

5,581

8,099

Disposals

-

(1,041)

(1,041)

At 31 January 2024

9,459

13,312

22,771

Depreciation

At 1 February 2023

1,041

2,924

3,965

Charge for the year

1,265

4,437

5,702

Eliminated on disposal

-

(347)

(347)

At 31 January 2024

2,306

7,014

9,320

Carrying amount

At 31 January 2024

7,153

6,298

13,451

At 31 January 2023

5,900

5,848

11,748

 

Socialike Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Debtors

2024
£

2023
£

Trade debtors

33,294

63,303

Other debtors

56,864

114,596

90,158

177,899

6

Current asset investments

2024
£

2023
£

Other investments

15,500

-

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

11,810

5,944

Corporation tax

15,961

53,879

Other creditors

146,468

51,096

174,239

110,919

8

Related party transactions

Transactions with the director

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

Mr H Al-Hadithi

Directors loan

9,447

117,213

(70,000)

56,660

         
       

Ms A Crockett

Directors loan

30,804

5,500

(36,304)

-

         
       

 

 

Socialike Media Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

2023

At 1 February 2022
£

Advances to director
£

Repayments by director
£

At 31 January 2023
£

Mr H Al-Hadithi

Directors loan

-

47,724

(38,277)

9,447

         
       

Ms A Crockett

Directors loan

-

36,204

(5,400)

30,804

         
       

 

The above loans are unsecured, interest free and repayable on demand. All the figures are disclosed on an aggregate basis. The loans were repaid shortly after the year end.