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

REGISTERED NUMBER: 09219694 (England and Wales)

UNAUDITED CESSATION FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2020 TO 31 DECEMBER 2020

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

-

100,955

Tangible assets

5

-

-

-

100,955

CURRENT ASSETS

Debtors

6

-

6,122

Cash at bank and in hand

3,141

438

3,141

6,560

CREDITORS

Amounts falling due within one year

7

3,133

39,311

NET CURRENT ASSETS/(LIABILITIES)

8

(32,751

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8

68,204

CAPITAL AND RESERVES

Called up share capital

400

400

Share premium

102,438

102,438

Retained earnings

(102,830

)

(34,634

)

SHAREHOLDERS' FUNDS

8

68,204

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 21 April 2021 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.

The company has ceased to trade and therefore the going concern basis is not appropriate for the preparation of the financial statements. Any liabilities which cannot be discharged from the company's assets will be settled by the director.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 (2020 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 April 2020

104,151

Additions

804

Impairments

(104,955

)

At 31 December 2020

-

AMORTISATION

At 1 April 2020

3,196

Charge written back

(3,196

)

At 31 December 2020

-

NET BOOK VALUE

At 31 December 2020

-

At 31 March 2020

100,955

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2020

and 31 December 2020

3,101

DEPRECIATION

At 1 April 2020

and 31 December 2020

3,101

NET BOOK VALUE

At 31 December 2020

-

At 31 March 2020

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2020

£

£

Other debtors

-

6,122

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2020

£

£

Trade creditors

2,455

5,180

Taxation and social security

678

-

Other creditors

-

34,131

3,133

39,311