Personal Mobility Solutions Limited - Abbreviated accounts 16.1

Abbreviated Unaudited Accounts for the Year Ended 30 September 2015

for

Personal Mobility Solutions Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

W Kiely

SECRETARY:

R Calcott

REGISTERED OFFICE:

Cedarmount House

90A Owlsmoor Road

Sandhurst

Berkshire

GU47 0SS

REGISTERED NUMBER:

04462551 (England and Wales)

ACCOUNTANTS:

Peter Upton

Bridge House

2 Bridge Avenue

Maidenhead

Berkshire

SL6 1RR

FIXED ASSETS

Intangible assets

2

48,857

61,071

Tangible assets

3

435,162

261,445

484,019

322,516

CURRENT ASSETS

Stocks

208,725

149,785

Debtors

179,682

113,343

Cash at bank and in hand

623,997

630,678

1,012,404

893,806

CREDITORS

Amounts falling due within one year

706,979

519,124

NET CURRENT ASSETS

305,425

374,682

TOTAL ASSETS LESS CURRENT LIABILITIES

789,444

697,198

PROVISIONS FOR LIABILITIES

4,415

3,075

NET ASSETS

785,029

694,123

CAPITAL AND RESERVES

Called up share capital

4

625

625

Revaluation reserve

125,635

81,888

Profit and loss account

658,769

611,610

SHAREHOLDERS' FUNDS

785,029

694,123

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 16 June 2016 and were signed by:

W Kiely - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of

service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill

The balance of Goodwill is being amortised on a straight line basis over a period of 5 years.

Other intangible assets

The balance of the value of the brand name is being amortised on a straight line basis over a period

of 5 years.

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, 25% on reducing balance and 25% on cost

Website development costs

33% on cost

Computer equipment

25% on reducing balance

Motor vehicles

25% on cost

Stocks

Stocks comprise vehicles and spare parts. Stocks of vehicles are valued at cost.

The value of parts stock is estimated by the directors.

Deferred tax

Deferred tax assets and liabilities are recognised in the balance sheet in respect of all timing

differences that have originated but not reversed at the balance sheet date where transactions or events

that result in an obligation to pay more or a right to pay less tax in the future have occurred by the

balance sheet date.

Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the

periods in which the timing differences are expected to reverse. Any movements in the year are

recognised in the profit and loss account.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

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 the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

and 30 September 2015

140,407

AMORTISATION

At 1 October 2014

79,336

Amortisation for year

12,214

At 30 September 2015

91,550

NET BOOK VALUE

At 30 September 2015

48,857

At 30 September 2014

61,071

3.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 October 2014

441,249

Additions

246,570

Disposals

(50,870

)

Revaluations

43,747

At 30 September 2015

680,696

DEPRECIATION

At 1 October 2014

179,804

Charge for year

112,690

Eliminated on disposal

(46,960

)

At 30 September 2015

245,534

NET BOOK VALUE

At 30 September 2015

435,162

At 30 September 2014

261,445

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.15

30.9.14

value:

£

£

625

Ordinary

£1

625

625