Mobile ID Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09219694 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2017 TO 31 MARCH 2019

FOR

MOBILE ID LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C M Hartwell

C L Taxis

REGISTERED OFFICE:

4th Floor Tuition House

27-37 St George's Road

Wimbledon

London

SW19 4EU

REGISTERED NUMBER:

09219694 (England and Wales)

ACCOUNTANTS:

Hartley Fowler LLP

Chartered Accountants

4th Floor Tuition House

27-37 St George's Road

Wimbledon

London

SW19 4EU

FIXED ASSETS

Intangible assets

4

86,309

29,574

Tangible assets

5

550

1,713

86,859

31,287

CURRENT ASSETS

Debtors

6

14,972

1,050

Cash at bank and in hand

7,369

5,458

22,341

6,508

CREDITORS

Amounts falling due within one year

7

40,411

20,966

NET CURRENT LIABILITIES

(18,070

)

(14,458

)

TOTAL ASSETS LESS CURRENT LIABILITIES

68,789

16,829

CAPITAL AND RESERVES

Called up share capital

400

200

Share premium

102,438

49,980

Retained earnings

(34,049

)

(33,351

)

SHAREHOLDERS' FUNDS

68,789

16,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2019 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 November 2019 and were signed on its behalf by:

C M Hartwell - Director

1.	STATUTORY INFORMATION

Mobile ID Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going Concern

Due to the ongoing support of the company's shareholders, the directors believe that it is appropriate to prepare

the financial statements on the going concern basis, which assumes that the company will continue in

operational existence for the foreseeable future.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would

be necessary to reduce the balance sheet value of assets to their recoverable amounts, and to provide for

further liabilities that might arise, and to reclassify fixed assets and long term liabilities as current assets and

liabilities.

Intangible assets

Research expenditure is written off to the profit and loss account in the year in which it is incurred.

Development expenditure is written off in the same way unless the directors are satisfied as to the technical,

commercial and financial viability of the individual projects. In this situation, the expenditure is deferred and

amortised over the period during which the company is expected to benefit.

The amortisation charge is estimated by the directors according to the estimated future sales and total

development costs. The amortisation charge per product is then expensed to the profit and loss account as the

products are sold. The amortisation charge is reviewed by the directors each year to ensure its suitability.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to

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

Current or deferred 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 period 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.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivables or payables 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.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each

balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating

unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable

amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount

where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 October 2017

32,770

Additions

56,735

At 31 March 2019

89,505

AMORTISATION

At 1 October 2017

and 31 March 2019

3,196

NET BOOK VALUE

At 31 March 2019

86,309

At 30 September 2017

29,574

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 October 2017

and 31 March 2019

3,101

DEPRECIATION

At 1 October 2017

1,388

Charge for period

1,163

At 31 March 2019

2,551

NET BOOK VALUE

At 31 March 2019

550

At 30 September 2017

1,713

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2017

£

£

Other debtors

14,972

1,050

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2017

£

£

Trade creditors

7,680

4,800

Other creditors

32,731

16,166

40,411

20,966

8.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £25,954 (2017: £13,771) to I Bloom in respect of his director's loan

account. The loan is not secured, bears no interest and has no repayment terms.

A the balance sheet date the company owed £nil (2017: £2,350) to J Remesar Amoedo in respect of his

director's loan account. The loan is not secured, bears no interest and has no repayment terms.