Company Registration No. SC600097 (Scotland)
MOBILIIS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
PAGES FOR FILING WITH REGISTRAR
MOBILIIS LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
MOBILIIS LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2021
30 April 2021
- 1 -
2021
2020
Notes
£
£
£
£
Current assets
Trade and other receivables
5
669
596
Cash and cash equivalents
290
341
959
937
Current liabilities
6
(25,296)
(20,585)
Net current liabilities
(24,337)
(19,648)
Equity
Called up share capital
7
100
100
Retained earnings
(24,437)
(19,748)
Total equity
(24,337)
(19,648)
The director of the company has elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 30 April 2021 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 year 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 19 January 2022
Mr Martin Muckle
Director
Company Registration No. SC600097
MOBILIIS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
- 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
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
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
4
Accounting policies
4.1
Going concern
The balance sheet shows that liabilities exceed assets by £
24
,
337
including a liability to the directors of the company of £
5,378
. The director of the company ha
s
confirmed that
he
will maintain financial support for the foreseeable future to enable the company to continue normal trading operations. The financial statements are therefore drawn up on a going concern basis.
4.2
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.
MOBILIIS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
4
Accounting policies
(Continued)
- 3 -
4.3
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.
4.4
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 retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
4.5
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
.
4.6
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.
5
Trade and other receivables
2021
2020
Amounts falling due within one year:
£
£
Corporation tax recoverable
669
596
6
Current liabilities
2021
2020
£
£
Trade payables
73
Other payables
25,223
20,585
25,296
20,585
7
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
10,000
10,000
100
100
MOBILIIS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 4 -
8
Directors' transactions
At 30 April 2020, the company owed the director £740. During the year the director met expenses on behalf of the company totalling £4,638. At 30 April 2021 the company owed the director £5,378. This loan is interest free and has no fixed repayment terms.
9
Related party transactions
At 30 April 2020 and 30 April 2021, the company owed a connected party £18,645. This loan is interest free and has no fixed repayment terms.