Company No: 08270677 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Byron James Rawlings

REGISTERED OFFICE	29 Hardy Road
	Norwich
	NR1 1JN
	England
	United Kingdom

COMPANY NUMBER

08270677 (England and Wales)

CHARTERED ACCOUNTANTS	Gascoynes
	Gascoyne House
	Moseleys Farm Business Centre
	Fornham All Saints
	Bury St Edmunds
	Suffolk
	IP28 6JY

	Note	2022		2021
		£		£
Fixed assets
Tangible assets	3	17,491		12,546
		17,491		12,546
Current assets
Debtors	4	455,428		256,576
Investments		6,500		6,500
Cash at bank and in hand		( 2,026)		( 890)
		459,902		262,186
Creditors: amounts falling due within one year	5	( 439,198)		( 160,443)
Net current assets		20,704		101,743
Total assets less current liabilities		38,195		114,289
Creditors: amounts falling due after more than one year	6	( 26,667)		( 37,083)
Net assets		11,528		77,206
Capital and reserves
Called-up share capital	7	1		1
Profit and loss account		11,527		77,205
Total shareholder's funds		11,528		77,206

For the financial year ending 31 October 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Social Network Solutions Limited (registered number: 08270677) were approved and authorised for issue by the Director on 31 July 2023. They were signed on its behalf by:

Byron James Rawlings Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Social Network Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 29 Hardy Road, Norwich, NR1 1JN, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	20		22

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 November 2021	13,730		13,730
Additions	9,508		9,508
At 31 October 2022	23,238		23,238
Accumulated depreciation
At 01 November 2021	1,184		1,184
Charge for the financial year	4,563		4,563
At 31 October 2022	5,747		5,747
Net book value
At 31 October 2022	17,491		17,491
At 31 October 2021	12,546		12,546

4. Debtors

	2022		2021
	£		£
Trade debtors	455,428		256,036
Other debtors	0		540
	455,428		256,576

5. Creditors: amounts falling due within one year

	2022		2021
	£		£
Bank loans and overdrafts	20,000		10,578
Trade creditors	75,112		5,291
Other taxation and social security	336,184		130,690
Other creditors	7,902		13,884
	439,198		160,443

6. Creditors: amounts falling due after more than one year

	2022		2021
	£		£
Other creditors	26,667		37,083

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

	2022		2021
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

8. Related party transactions

Transactions with the entity's director

	2022		2021
	£		£
Directors loan account	4,104		540

This loan is interest free and cleared within 9 months of the year end.