Moses Mobility Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09511211 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2020

for

Moses Mobility Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

221,390

173,516

Tangible assets

5

62,960

-

284,350

173,516

CURRENT ASSETS

Debtors

6

85,526

-

CREDITORS

Amounts falling due within one year

7

357,992

169,450

NET CURRENT LIABILITIES

(272,466

)

(169,450

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,884

4,066

CAPITAL AND RESERVES

Called up share capital

143

143

Retained earnings

11,741

3,923

SHAREHOLDERS' FUNDS

11,884

4,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 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 and authorised for issue on 28 August 2020 and were signed on its behalf by:

T A Yoell - Director

1.	STATUTORY INFORMATION

Moses Mobility Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address are as below:

Registered number:

09511211

Registered office:

1st Floor Healthaid House

Marlborough Hill

Harrow

Middlesex

HA1 1UD

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 director confirm his ongoing financial support and that he will not withdraw funds from the company to the

extent that the company is then unable to satisfy other creditors in full. Accordingly the director considers it

appropriate for the accounts to be prepared on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Motor vehicles

-

20% on cost

Taxation

Taxation for the year 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2019

173,516

Additions

47,874

At 30 June 2020

221,390

NET BOOK VALUE

At 30 June 2020

221,390

At 30 June 2019

173,516

5.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

Additions

78,700

At 30 June 2020

78,700

DEPRECIATION

Charge for year

15,740

At 30 June 2020

15,740

NET BOOK VALUE

At 30 June 2020

62,960

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

352

-

Other debtors

85,174

-

85,526

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

9,967

8,535

Taxation and social security

(11,821

)

(7,700

)

Other creditors

359,846

168,615

357,992

169,450

8.	INTANGIBLE ASSETS

Change in accounting policy

During the year, the Company changed its accounting policy with respect to the capitalisation of costs relating to

the development of products that will be income earning in the future. The Company now capitalises any

development costs, patent costs and licences that are used to develop the products. Previously these costs had

been expensed to profit and loss when occurred.

The Company believes the new policy is preferable as it more closely aligns the income of products in

development with the cost of those products. At the time the products are completed the capitalised costs will be

amortised over the expected life of the product.

The impact of this voluntary change in accounting policy on the financial statements is to increase intangible

assets and reduce administration costs. The impact on each line item of the financial statements is shown below:

Originally reported

Adjustment

Currently reported

2019

2019

2019

Direct costs

129,511

(124,051

)

5,460

Expenditure

142,151

(49,465

)

92,686

Intangible Assets

-

173,516

173,516

9.	ULTIMATE CONTROLLING PARTY

The company was under the control of T A Yoell by virtue of his majority holding of share capital of the

company, throughout the current period. The balance owing to T A Yoell amounted to £185,959 (2019 :

£144,260).