Registered number
10011186
Sapien 2.0 Limited
Report and Accounts
28 February 2023
Sapien 2.0 Limited
Registered number: 10011186
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 8,400 1,200
Current assets
Debtors 4 2,006 12,831
Cash at bank and in hand 1,601 2,406
3,607 15,237
Creditors: amounts falling due within one year 5 (46,514) (47,418)
Net current liabilities (42,907) (32,181)
Net liabilities (34,507) (30,981)
Capital and reserves
Called up share capital 1 1
Profit and loss account (34,508) (30,982)
Shareholder's funds (34,507) (30,981)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Baldwin
Director
Approved by the board on 11 September 2024
Sapien 2.0 Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents revenue earned from the provision of services. Revenue from services is recognised in accounting periods in which the services are rendered, by reference to completion of the specific transaction, assessed on the basis of the actual service provided as a proportion of the total services to be provided. Depending on the nature of the contract, revenue will be recognised on the basis of the proportion of the contract term completed, the proportion of the contract costs incurred or the specific services provided to date.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Tools and equipment over 5 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Tools and equipment
£
Cost
At 1 March 2022 8,310
Additions 10,000
At 28 February 2023 18,310
Depreciation
At 1 March 2022 7,110
Charge for the year 2,800
At 28 February 2023 9,910
Net book value
At 28 February 2023 8,400
At 28 February 2022 1,200
4 Debtors 2023 2022
£ £
Other debtors 2,006 12,831
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 38,333 45,038
Corporation tax 7,281 634
Other creditors 900 1,746
46,514 47,418
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
C Baldwin
[Loan 1] - 12,832 12,832 12,832
[Loan 2] - 2,005 - 2,005
- 14,837 12,832 14,837
7 Other information
Sapien 2.0 Limited is a private company limited by shares and incorporated in England. Its registered office is:
5A Church Road South
Woolton Village
Liverpool
L25 7RJ
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