MOG LOMAS LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10582696 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2021

for

MOG LOMAS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

Miss S A Stafford

REGISTERED OFFICE:

52 Stowmarket Drive

Derwent Heights

DERBY

Derbyshire

DE21 4SN

REGISTERED NUMBER:

10582696 (England and Wales)

ACCOUNTANTS:

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

FIXED ASSETS

Intangible assets

5

1,900

3,800

Tangible assets

6

98

244

1,998

4,044

CURRENT ASSETS

Debtors

7

591

1,124

Cash at bank

1,657

511

2,248

1,635

CREDITORS

Amounts falling due within one year

8

(2,429

)

(1,493

)

NET CURRENT (LIABILITIES)/ASSETS

(181

)

142

TOTAL ASSETS LESS CURRENT LIABILITIES

1,817

4,186

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

1,717

4,086

SHAREHOLDERS' FUNDS

1,817

4,186

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 19 April 2021 and were signed by:

Miss S A Stafford - Director

1.	STATUTORY INFORMATION

MOG LOMAS 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.

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.

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

-

33% on cost

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2020

and 31 January 2021

9,500

AMORTISATION

At 1 February 2020

5,700

Charge for year

1,900

At 31 January 2021

7,600

NET BOOK VALUE

At 31 January 2021

1,900

At 31 January 2020

3,800

6.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 February 2020

and 31 January 2021

2,225

DEPRECIATION

At 1 February 2020

1,981

Charge for year

146

At 31 January 2021

2,127

NET BOOK VALUE

At 31 January 2021

98

At 31 January 2020

244

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

591

1,124

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

394

671

Other creditors

2,035

822

2,429

1,493

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

90

Ordinary A Share

£1

90

90

10

Ordinary B Share

£1

10

10

100

100

The A and B shares are separate classes of shares and are entitled to dividends declared from time to time on a discretionary basis on each class of shares, but in all other respects rank pari passu.

10.

RESERVES

Retained

earnings

£

At 1 February 2020

4,086

Deficit for the year

(369

)

Dividends

(2,000

)

At 31 January 2021

1,717

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MOG LOMAS LIMITED for the year ended 31 January 2021 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of MOG LOMAS LIMITED in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MOG LOMAS LIMITED and state those matters that we have agreed to state to the director of MOG LOMAS LIMITED in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MOG LOMAS LIMITED and its director for our work or for this report.

It is your duty to ensure that MOG LOMAS LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of MOG LOMAS LIMITED. You consider that MOG LOMAS LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MOG LOMAS LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

19 April 2021