Mobility Northeast Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09862022 (England and Wales)

MOBILITY NORTHEAST LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N D Cox

M J C Williams

REGISTERED OFFICE:

Stapeley Technology Park

London Road

Stapeley

Crewe

Cheshire

CW5 8JW

REGISTERED NUMBER:

09862022 (England and Wales)

FIXED ASSETS

Tangible assets

4

17,194

22,988

CURRENT ASSETS

Stocks

185,525

147,002

Debtors

5

35,209

30,214

Cash at bank and in hand

60,528

14,252

281,262

191,468

CREDITORS

Amounts falling due within one year

6

(617,961

)

(475,387

)

NET CURRENT LIABILITIES

(336,699

)

(283,919

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(319,505

)

(260,931

)

PROVISIONS FOR LIABILITIES

(3,267

)

-

NET LIABILITIES

(322,772

)

(260,931

)

CAPITAL AND RESERVES

Called up share capital

7

1

Retained earnings

(322,773

)

(260,932

)

SHAREHOLDERS' FUNDS

(322,772

)

(260,931

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the
end of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 3 May 2019 and were signed on its behalf by:

N D Cox - Director

1.	STATUTORY INFORMATION

Mobility Northeast Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and

rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade

discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of mobility aids is recognised when significant risks and rewards of ownership of the

goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the

economic benefits associated with the transaction will flow to the company and the costs incurred or to be

incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

3-5 years on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of

operating as intended.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes

all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and

condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and

slow-moving stock where appropriate.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity. Current taxation

assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Leases

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight

line basis over the period of the lease.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the

employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that

service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are

expensed as they become payable.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2017

32,739

Additions

1,028

At 31 August 2018

33,767

DEPRECIATION

At 1 September 2017

9,751

Charge for year

6,822

At 31 August 2018

16,573

NET BOOK VALUE

At 31 August 2018

17,194

At 31 August 2017

22,988

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Trade debtors

111

-

Other debtors

1,740

-

VAT

19,114

13,619

Prepayments

14,244

16,595

35,209

30,214

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Trade creditors

152,770

123,091

Amounts owed to group undertakings

405,164

333,600

Social security and other taxes

4,128

3,599

Pension liability

492

-

Other creditors

7,228

6,616

Accrued expenses

48,179

8,481

617,961

475,387

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

1

Ordinary

1

8.	FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet

amount to £595,163 (2017 - £642,953).

9.	GOING CONCERN

As at 31 August 2018, the balance sheet was overdrawn and the company is reliant on the support of it's

parent and other group companies. These companies have indicated that their support will not be withdrawn

for the next twelve months and therefore the accounts have been prepared on the going concern basis.

10.	PARENT COMPANY

The immediate and ultimate parent company is Ableworld Holdings(UK) Limited, Ableworld Alpha Building,

Stapeley Technology Park, London Road, Nantwich.

Mobility Northeast Limited - Accounts to registrar (filleted) - small 18.2

Mobility Northeast Limited - Accounts to registrar (filleted) - small 18.2