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Registration number: 09723821

Social Edge Limited

trading as Social Edge

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Social Edge Limited

trading as Social Edge

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Social Edge Limited

trading as Social Edge

(Registration number: 09723821)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

4,717

6,816

Current assets

 

Debtors

6

5,295

104,923

Cash at bank and in hand

 

44,985

6,007

 

50,280

110,930

Creditors: Amounts falling due within one year

7

(52,070)

(113,340)

Net current liabilities

 

(1,790)

(2,410)

Net assets

 

2,927

4,406

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

2,926

4,405

Shareholders' funds

 

2,927

4,406

For the financial year ending 31 August 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.

Approved and authorised by the director on 3 February 2025
 

Mr J B Sorkin
Director

   
     
 

Social Edge Limited

trading as Social Edge

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Parkhill Studio
Walton Road
Wetherby
West Yorkshire
LS22 5DZ
England

These financial statements were authorised for issue by the director on 3 February 2025.

2

Accounting policies

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/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.

 

Social Edge Limited

trading as Social Edge

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

 

Social Edge Limited

trading as Social Edge

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

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

Computer equipment

33% straight line

Website platform

20% straight line

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,833

1,333

 

Social Edge Limited

trading as Social Edge

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

5

Tangible assets

Furniture, fittings and equipment
 £

Website platform
 £

Total
£

Cost or valuation

At 1 September 2023

1,865

7,533

9,398

Additions

-

1,000

1,000

Disposals

-

(2,533)

(2,533)

At 31 August 2024

1,865

6,000

7,865

Depreciation

At 1 September 2023

1,232

1,350

2,582

Charge for the year

633

1,200

1,833

Eliminated on disposal

-

(1,267)

(1,267)

At 31 August 2024

1,865

1,283

3,148

Carrying amount

At 31 August 2024

-

4,717

4,717

At 31 August 2023

633

6,183

6,816

6

Debtors

Current

2024
£

2023
£

Other debtors

5,295

104,923

 

5,295

104,923

 

Social Edge Limited

trading as Social Edge

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

45,164

112,500

Trade creditors

 

850

-

Taxation and social security

 

5,096

-

Accruals and deferred income

 

960

840

 

52,070

113,340

 

Social Edge Limited

trading as Social Edge

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

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.01 each

100

1

100

1

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

1,486

Other borrowings

45,164

111,014

45,164

112,500