IRIS Accounts Production v24.3.0.553 07432859 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh074328592023-04-30074328592024-04-30074328592023-05-012024-04-30074328592022-04-30074328592022-05-012023-04-30074328592023-04-3007432859ns15:EnglandWales2023-05-012024-04-3007432859ns14:PoundSterling2023-05-012024-04-3007432859ns10:Director12023-05-012024-04-3007432859ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3007432859ns10:SmallEntities2023-05-012024-04-3007432859ns10:AuditExemptWithAccountantsReport2023-05-012024-04-3007432859ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3007432859ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3007432859ns10:FullAccounts2023-05-012024-04-300743285912023-05-012024-04-3007432859ns10:Director112023-05-012024-04-3007432859ns10:Director122023-05-012024-04-3007432859ns10:RegisteredOffice2023-05-012024-04-3007432859ns5:CurrentFinancialInstruments2024-04-3007432859ns5:CurrentFinancialInstruments2023-04-3007432859ns5:Non-currentFinancialInstruments2024-04-3007432859ns5:Non-currentFinancialInstruments2023-04-3007432859ns5:ShareCapital2024-04-3007432859ns5:ShareCapital2023-04-3007432859ns5:SharePremium2024-04-3007432859ns5:SharePremium2023-04-3007432859ns5:FurtherSpecificReserve1ComponentTotalEquity2024-04-3007432859ns5:FurtherSpecificReserve1ComponentTotalEquity2023-04-3007432859ns5:RetainedEarningsAccumulatedLosses2024-04-3007432859ns5:RetainedEarningsAccumulatedLosses2023-04-3007432859ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3007432859ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-05-012024-04-3007432859ns5:ComputerEquipment2023-05-012024-04-3007432859ns5:IntangibleAssetsOtherThanGoodwill2023-04-3007432859ns5:IntangibleAssetsOtherThanGoodwill2024-04-3007432859ns5:IntangibleAssetsOtherThanGoodwill2023-04-3007432859ns5:ComputerEquipment2023-04-3007432859ns5:ComputerEquipment2024-04-3007432859ns5:ComputerEquipment2023-04-3007432859ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3007432859ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3007432859ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-04-3007432859ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-04-300743285912023-05-012024-04-30
REGISTERED NUMBER: 07432859 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

The Social Innovation Partnership
Limited

The Social Innovation Partnership
Limited (Registered number: 07432859)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 4

Notes to the Financial Statements 6


The Social Innovation Partnership
Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Ms B Chiu
Mr S K Bediako
Mr S R Haines





REGISTERED OFFICE: 124 City Road
London
EC1V 2NX





REGISTERED NUMBER: 07432859 (England and Wales)





ACCOUNTANTS: Three Kings Accounting Ltd
Suite 3
Dukes House
4-6 High Street
Windsor
Berkshire
SL4 1LD

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The Social Innovation Partnership
Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Social Innovation Partnership Limited for the year ended 30 April 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Social Innovation Partnership Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Social Innovation Partnership Limited and state those matters that we have agreed to state to the Board of Directors of The Social Innovation Partnership Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Social Innovation Partnership Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Social Innovation Partnership Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Social Innovation Partnership Limited. You consider that The Social Innovation Partnership Limited 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 financial statements of The Social Innovation Partnership Limited. 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 financial statements.






Three Kings Accounting Ltd
Suite 3
Dukes House
4-6 High Street
Windsor
Berkshire
SL4 1LD

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The Social Innovation Partnership
Limited



30 January 2025

The Social Innovation Partnership
Limited (Registered number: 07432859)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,042 -
Tangible assets 5 8,061 9,283
9,103 9,283

CURRENT ASSETS
Debtors 6 164,477 93,613
Cash at bank 243,960 475,557
408,437 569,170
CREDITORS
Amounts falling due within one year 7 635,833 698,354
NET CURRENT LIABILITIES (227,396 ) (129,184 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(218,293

)

(119,901

)

CREDITORS
Amounts falling due after more than
one year

8

(21,070

)

(20,833

)

PROVISIONS FOR LIABILITIES (1,531 ) (1,764 )
NET LIABILITIES (240,894 ) (142,498 )

The Social Innovation Partnership
Limited (Registered number: 07432859)

Balance Sheet - continued
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 554 554
Share premium 99,947 99,947
Other reserves (258 ) (258 )
Retained earnings (341,137 ) (242,741 )
(240,894 ) (142,498 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:





Ms B Chiu - Director


The Social Innovation Partnership
Limited (Registered number: 07432859)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

The Social Innovation Partnership Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net invoiced sales of services, excluding VAT and adjusted for accrued revenue, calculated by reference to the fair value of services performed up to the balance sheet date but not invoiced.

Grant income which is received subject to certain performance-related conditions is recognised as income only when the conditions are met, where grant monies are received before the revenue recognition criteria are satisfied, it is recorded as deferred income.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


The Social Innovation Partnership
Limited (Registered number: 07432859)

Notes to the Financial Statements - continued
for the Year Ended 30 April 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
As at 30 April 2024, the Company is in a net liability and net current liability position. On 15 May 2024, 75% of Company shares were acquired by The Social Innovation Consultancy Limited and as part of this restructure, financing was received from the parent company. The Company maintains a robust contract pipeline and is expected to report a profit for the current financial year, which will drive an improved balance sheet position. The directors conclude that with the continued support of The Social Innovation Consultancy Limited, the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

The Social Innovation Partnership
Limited (Registered number: 07432859)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023 8,626
Additions 1,250
Disposals (626 )
At 30 April 2024 9,250
AMORTISATION
At 1 May 2023 8,626
Charge for year 208
Eliminated on disposal (626 )
At 30 April 2024 8,208
NET BOOK VALUE
At 30 April 2024 1,042
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 May 2023 16,347
Additions 4,713
Disposals (2,619 )
At 30 April 2024 18,441
DEPRECIATION
At 1 May 2023 7,064
Charge for year 3,450
Eliminated on disposal (134 )
At 30 April 2024 10,380
NET BOOK VALUE
At 30 April 2024 8,061
At 30 April 2023 9,283

The Social Innovation Partnership
Limited (Registered number: 07432859)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 90,928 44,570
Other debtors 14,364 15,927
Prepayments and accrued income 59,185 33,116
164,477 93,613

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 3,450 10,000
Trade creditors 17,596 19,525
VAT 59,001 37,433
Other creditors 2,311 3,507
Directors' current accounts - 228
Deferred income 541,975 612,249
Accrued expenses 11,500 15,412
635,833 698,354

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans - 2-5 years 21,070 20,833

9. POST BALANCE SHEET EVENTS

On 13th June 2024 The Company purchased 100% of the ordinary share capital of Renaisi-TSIP Limited. It has been determined that this is a non-adjusting subsequent event. Accordingly, the financial position and results of operations as of and for the year ended 30 April 2024 have not been adjusted.