SAPNAGROUP LIMITED Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 04533465

SAPNAGROUP LIMITED

Filleted Unaudited Financial Statements

30 September 2022

SAPNAGROUP LIMITED

Statement of Financial Position

30 September 2022

	2022		2021
Note	£	£	£

Current assets

Debtors	5	245,287	235,913
Cash at bank and in hand		463,324	351,975
		---------	---------
		708,611	587,888

Creditors: amounts falling due within one year	6	211,937		134,470
		---------		---------
Net current assets			496,674	453,418
			---------	---------
Total assets less current liabilities			496,674	453,418
			---------	---------
Net assets			496,674	453,418
			---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	496,574	453,318
	---------	---------
Shareholders funds	496,674	453,418
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 20 January 2023 , and are signed on behalf of the board by:

Mr C Hubner

Director

Company registration number: 04533465

SAPNAGROUP LIMITED

Notes to the Financial Statements

Year ended 30 September 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Wheel House, 31-37 Church Street, Reigate, Surrey, RH2 0AD.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and Fittings	-	25% straight line
Equipment	-	50% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. With the exception of the ordinary share capital the company does not have any financial instruments.

4. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 October 2021 and 30 September 2022	867	10,043	10,910
	----	--------	--------
Depreciation
At 1 October 2021 and 30 September 2022	867	10,043	10,910
	----	--------	--------
Carrying amount
At 30 September 2022	–	–	–
	----	--------	--------
At 30 September 2021	–	–	–
	----	--------	--------

5. Debtors

	2022	2021
	£	£
Trade debtors	243,787	216,760
Other debtors	1,500	19,153
	---------	---------
	245,287	235,913
	---------	---------

6. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	5	–
Trade creditors	16,524	85
Corporation tax	67,874	47,156
Social security and other taxes	102,248	78,104
Other creditors	25,286	9,125
	---------	---------
	211,937	134,470
	---------	---------

7. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2022
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr C Hubner	( 6,321)	230,924	( 227,000)	( 2,397)
	-------	---------	---------	-------

	2021
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr C Hubner	( 51,999)	182,678	( 137,000)	( 6,321)
	--------	---------	---------	-------

8. Related party transactions

The company was under the control of Mr Claus Hubner throughout the current and previous year. £64,904 (2021: £72,710) of project management costs and nil (2021: £nil) of administration costs were paid to Sapnagroup Deutschland Inh Claus Hubner, a consultancy owned by Mr Hubner, which subsequently incorporated to Sapnagroup deutschland UG Dividends of £230,924 (2021: £135,000) were paid in the year. £552,674 (2021: £423,950) of development costs were paid to Sapnatech, a consultancy also owned by Mr Hubner. No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102.