Mobiles-R-Us Limited - Period Ending 2016-03-31

Registration number: 05043015

Mobiles-R-Us Limited

Unaudited abbreviated accounts

for the year ended 31 March 2016
 

Mobiles-R-Us Limited
Contents

Abbreviated balance sheet 1 to 2

Notes to the abbreviated accounts 3

Mobiles-R-Us Limited
(Registration number: 05043015)
Abbreviated balance sheet at 31 March 2016

		Note			2016 £			2015 £
Current assets
Stock					4,650			9,750
Debtors					26,472			5,663
Cash at bank and in hand					-			5,830
					31,122			21,243
Creditors: amounts falling due within one year					(16,226)			(34,122)
Total assets less current liabilities					14,896			(12,879)
Creditors: amounts falling due after more than one year					(3,428)			-
Net assets/(liabilities)					11,468			(12,879)
Capital and reserves
Called up share capital		2			2			2
Profit and loss account					11,466			(12,881)
Shareholders' funds/(deficit)					11,468			(12,879)

The notes on page 3 form an integral part of these abbreviated accounts.
Page 1

Mobiles-R-Us Limited
(Registration number: 05043015)
Abbreviated balance sheet at 31 March 2016
......... continued

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the director on 22 December 2016

 Mr J Babington
 Director

The notes on page 3 form an integral part of these abbreviated accounts.
Page 2

Mobiles-R-Us Limited
Notes to the abbreviated accounts for the year ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers and is recognised upon the supply of such goods and services.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £ 1 each		2			2			2			2

3	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr D J Babington
During the year	30,630	11,000	27,635	22,261

Page 3