Company Registration No. 13175787 (England and Wales)
2050CARDS LTD
Unaudited accounts
for the year ended 31 March 2024
2050CARDS LTD
Unaudited accounts
Contents
2050CARDS LTD
Company Information
for the year ended 31 March 2024
Directors
Benjamin Rogerson Barkes
Oliver Peter Anthony Trace
Company Number
13175787 (England and Wales)
Registered Office
14A WILMOT PLACE
LONDON
NW1 9JP
ENGLAND
Accountants
Chilli Accounting Ltd
21 Pyxe Court
Walton Park
Milton Keynes
MK7 7HR
2050CARDS LTD
Statement of financial position
as at 31 March 2024
Intangible assets
126,852
116,235
Cash at bank and in hand
10,289
21,263
Creditors: amounts falling due within one year
(26,171)
(22,676)
Net current liabilities
(15,882)
(1,413)
Total assets less current liabilities
111,368
116,443
Creditors: amounts falling due after more than one year
(35,279)
(39,450)
Called up share capital
12
12
Share premium
221,173
221,673
Profit and loss account
(145,096)
(144,692)
Shareholders' funds
76,089
76,993
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2024 and were signed on its behalf by
Benjamin Rogerson Barkes
Director
Company Registration No. 13175787
2050CARDS LTD
Notes to the Accounts
for the year ended 31 March 2024
2050CARDS LTD is a private company, limited by shares, registered in England and Wales, registration number 13175787. The registered office is 14A WILMOT PLACE, LONDON, NW1 9JP, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
3 years Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation has been provided over either 5 years or 10 years depending on the nature of the asset.
Expenditure on research and development is written off in the year in which it is incurred with the exception of any software development which meets the criteria of intangible fixed assets.
No provision for current or future taxation benefits derived from trading losses is included in the financial statements.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2050CARDS LTD
Notes to the Accounts
for the year ended 31 March 2024
4
Intangible fixed assets
Other
Charge for the year
19,336
5
Tangible fixed assets
Computer equipment
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
2,401
3,041
Taxes and social security
850
598
Other creditors
8,396
6,422
Loans from directors
10,000
10,049
2050CARDS LTD
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
35,279
39,450
The Company has an unsecured loan of £41,945 from Sentio Space Ltd, which owns 16% of the shares of 2050Cards Ltd. Oliver Trace, a Director and 23% shareholder of 2050Cards Ltd, is the majority shareholder of Sentio Space Ltd.
Monthly repayments are interest and principle at an interest rate of 2.605% per annum. The principle repayments required in the 12 months immediately following year end of £6,666 are included in Creditors - amounts falling due within one year.
8
Capital commitments
2024
2023
There were no capital commitments at year end.
There were no contingent liabilities at year end.
There were no loans, credit or advances given to directors during the year.
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).