Company Registration No. SC600097 (Scotland)
MOBILIIS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2019
PAGES FOR FILING WITH REGISTRAR
MOBILIIS LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
MOBILIIS LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2019
30 April 2019
- 1 -
2019
Notes
£
£
Current assets
Trade and other receivables
4
5,029
Current liabilities
5
(20,722)
Net current liabilities
(15,693)
Equity
Called up share capital
6
100
Retained earnings
(15,793)
Total equity
(15,693)
The director of the company has elected not to include a copy of the income statement within the financial statements.
true
For the financial period ended 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 14 May 2019
Mr Martin Muckle
Director
Company Registration No. SC600097
MOBILIIS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2019
- 2 -
1
Company Information
Mobiliis Ltd is a
private
company
limited by shares
incorporated in Scotland.
The registered office is
4 North Guildry Street, Elgin, Moray, IV30 1JR.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in
pounds sterling
, which is the functional currency of the company
.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
3
Accounting policies
3.1
Going concern
These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the director is aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.
3.2
Basic financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
3.3
Taxation
Current tax
The tax currently payable
or receivable
is based on
the
taxable
results
for the
period
. Taxable profit differs from net profit as reported in the income statement because it
takes account
of
tax incentives and items of
income or expense that are taxable or deductible in other years
or
are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
3.4
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are
measured
at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the income statement for the period.
MOBILIIS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2019
3
Accounting policies
(Continued)
- 3 -
3.5
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated
.
3.6
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
4
Trade and other receivables
2019
Amounts falling due within one year:
£
Corporation tax recoverable
5,029
5
Current liabilities
2019
£
Other payables
20,722
6
Called up share capital
2019
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
During the period the company issued 100 Ordinary shares of £1 each at par.
7
Related party transactions
During the period a connected party met expenses on behalf of the company totalling £18,695 and company repaid £50 to the connected party. At 30 April 2019, the company owed the connected party £18,645. This loan is interest free and has no fixed repayment terms.
8
Directors' transactions
During the period the director of the company met expenses on behalf of the company totalling £927 and the company paid expenses of £50 on behalf of the director. At 30 April 2019, the company owed the director £877. This loan is interest free and has no fixed repayment terms.