|
Registered number: 03846881
SOCIAL DEVELOPMENT DIRECT LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
|
|
SOCIAL DEVELOPMENT DIRECT LIMITED
REGISTERED NUMBER: 03846881
BALANCE SHEET
AS AT 30 JUNE 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................
Edith Rose Caldwell
|
|
|
|
|
|
|
The notes on pages 3 to 7 form part of these financial statements.
|
|
SOCIAL DEVELOPMENT DIRECT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income for the year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The notes on pages 3 to 7 form part of these financial statements.
|
|
|
SOCIAL DEVELOPMENT DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
Social Development Direct 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 principal activity of the company is that of overseas social development consultancy services.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The Directors have assessed the Company's ability to continue as a going concern for a period of at least twelve months from the date on which these financial statements are approved.
For the year ended 30 June 2026, the Company generated turnover of approximately £7.15m and reported an operating profit before restructuring costs. Following restructuring costs incurred during the year, the Company reported a small retained profit and continued to maintain a positive cash position at year end. The restructuring undertaken in response to changes in the international development funding environment has resulted in a lower cost base and a business structure aligned to anticipated future activity levels.
The Directors have reviewed the budget, cash flow forecast and trading projections covering a period extending beyond twelve months from the date of approval of these financial statements. The latest forecast for the year ending 30 June 2027 anticipates revenue of approximately £6.1m and a broadly break-even financial performance. Forecast cash flows indicate that the Company is expected to remain cash positive throughout the assessment period. In addition, the Company has already secured in excess of £2m of contracted revenue relating to the financial year ending 30 June 2028.
The principal assumptions underpinning the forecasts relate to the delivery of contracted programmes, staff utilisation levels, the conversion of identified business development opportunities and the continued management of the Company's cost base. The Directors have considered appropriate sensitivities within the forecasts and are satisfied that management retains sufficient flexibility to respond to changes in trading conditions should they arise.
Social Development Direct Limited is a wholly owned subsidiary of Plan International (UK). It is group policy that reserves are held at parent company level and profits generated by the Company have historically been transferred to the parent undertaking through gift aid payments. Funding arrangements remain in place between Plan International (UK) and Social Development Direct Limited to ensure that the Company is able to meet its obligations as they fall due.
Having considered the Company's forecasts, available cash resources, contracted future revenue, and the continued support available from Plan International (UK), the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least twelve months from the date of approval of these financial statements. Accordingly, the financial statements have been prepared on a going concern basis. The Directors have concluded that there are no material uncertainties related to events or
|
|
SOCIAL DEVELOPMENT DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
2.Accounting policies (continued)
|
|
|
Going concern (continued)
|
conditions that may cast significant doubt upon the Company's ability to continue as a going concern.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
|
|
SOCIAL DEVELOPMENT DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
2.Accounting policies (continued)
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
|
|
|
Foreign currency translation
|
Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
|
|
The average monthly number of employees, including directors, during the year was 54 (2025 - 60).
|
|
|
SOCIAL DEVELOPMENT DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
|
|
SOCIAL DEVELOPMENT DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prepayments and accrued income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings
|
|
|
|
|
Other taxation and social security
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Related party transactions
|
|
|
The company has taken advantage of the exemptions available in FRS102 from disclosing transactions with other members of the Plan International UK group.
|
The controlling party of the company is Plan International UK, a charitable company registered in England and Wales with registration number 01364201. The registered office of the parent is Finsgate, 5-7 Cranwood Street, London, EC1V 9LH.
Plan International UK acquired 100% of the share capital of Social Development Direct Ltd on the 10th March 2020.
The auditors' report on the financial statements for the year ended 30 June 2026 was unqualified.
The audit report was signed on 9 October 2026 by Steven Harper (Senior Statutory Auditor) on behalf of HaysMac LLP.
|
|
|