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

REGISTERED NUMBER: 08898235 (England and Wales)

MOBILITY (GB) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N D Cox

J B Pearson

M J C Williams

REGISTERED OFFICE:

9 Eccleston Street

St Helens

Merseyside

WA10 2PG

REGISTERED NUMBER:

08898235 (England and Wales)

FIXED ASSETS

Intangible assets

4

21,000

17,000

Tangible assets

5

114,995

93,535

135,995

110,535

CURRENT ASSETS

Stocks

422,544

370,157

Debtors

6

258,463

292,372

Cash at bank and in hand

484,967

287,927

1,165,974

950,456

CREDITORS

Amounts falling due within one year

7

(514,348

)

(476,077

)

NET CURRENT ASSETS

651,626

474,379

TOTAL ASSETS LESS CURRENT LIABILITIES

787,621

584,914

PROVISIONS FOR LIABILITIES

(17,891

)

-

NET ASSETS

769,730

584,914

CAPITAL AND RESERVES

Called up share capital

8

446,759

446,759

Retained earnings

322,971

138,155

SHAREHOLDERS' FUNDS

769,730

584,914

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 March 2021 and were signed on its behalf by:

J B Pearson - Director

1.	STATUTORY INFORMATION

Mobility (GB) 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 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 company extended its year end to 31 August 2019. For this reason, the comparatives are not entirely comparable.

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, excluding discounts,

rebates, value added tax and other sales taxes.

Sale of goods

Turnover from the sale of mobility aids and stairlifts 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise Fees are being amortised evenly over their estimated useful life of five years.

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

-

Straight line between 3 to 10 years

Motor vehicles

-

Straight line over 3 years

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.

Government grants

Government Grants in respect of Covid-19 received as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs are recognised as income in the period in which the grant becomes receivable using the accruals model.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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 31 (2019 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 September 2019

75,000

Additions

15,000

At 31 August 2020

90,000

AMORTISATION

At 1 September 2019

58,000

Charge for year

11,000

At 31 August 2020

69,000

NET BOOK VALUE

At 31 August 2020

21,000

At 31 August 2019

17,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2019

273,403

Additions

63,176

At 31 August 2020

336,579

DEPRECIATION

At 1 September 2019

179,868

Charge for year

41,716

At 31 August 2020

221,584

NET BOOK VALUE

At 31 August 2020

114,995

At 31 August 2019

93,535

6.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Trade debtors

26,726

77,966

Other debtors

78,010

90,345

VAT

112,003

69,385

Prepayments

41,724

53,314

258,463

291,010

Amounts falling due after more than one year:

Deferred tax asset

-

1,362

Aggregate amounts

258,463

292,372

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

318,240

251,284

Amounts owed to associates

15,000

-

Tax

54,959

37,264

Social security and other taxes

14,433

12,542

Other creditors

56,305

56,917

Accrued expenses

55,411

118,070

514,348

476,077

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

134,000

Ordinary A Shares

£1

134,000

134,000

149,000

Ordinary B Shares

£1

149,000

149,000

147,760

Ordinary C Shares

£1

147,760

147,760

15,999

Ordinary D Shares

£1

15,999

15,999

446,759

446,759

9.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £1,390,672 (2019 £796,417)