Moblix Media Limited - Period Ending 2014-01-31

Registration number: 06318617

Moblix Media Limited
 
  Unaudited Abbreviated Accounts
 
  for the Year Ended 31 January 2014
 

Wilds Ltd
  Chartered Accountants
  Lancaster House
  70-76 Blackburn Street
  Radcliffe
  Manchester
  M26 2JW

Moblix Media Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Moblix Media Limited
(Registration number: 06318617)
Abbreviated Balance Sheet at 31 January 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			425			660
Current assets
Debtors					142,549			16,650
Cash at bank and in hand					30			98,038
					142,579			114,688
Creditors: Amounts falling due within one year					(184,829)			(73,653)
Net current (liabilities)/assets					(42,250)			41,035
Net (liabilities)/assets					(41,825)			41,695
Capital and reserves
Called up share capital		3			6			6
Profit and loss account					(41,831)			41,689
Shareholders' (deficit)/funds					(41,825)			41,695

For the year ending 31 January 2014 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These 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 April 2008).

Approved by the Board on 21 October 2014 and signed on its behalf by:

.........................................
Mr A M Smith
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Moblix Media Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... 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 April 2008).

Going concern

The financial statements have been prepared on a going concern basis. The continuation of the business is dependent upon continued financial support from the shareholders and directors. They have indicated their desire to continue to provide that support.

Turnover

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

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	33% straight line basis

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

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.

Page 2

Moblix Media Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2013		1,810			1,810
Additions		325,541			325,541
Disposals		(325,000)			(325,000)
At 31 January 2014		2,351			2,351
Depreciation
At 1 February 2013		1,150			1,150
Charge for the year		776			776
At 31 January 2014		1,926			1,926
Net book value
At 31 January 2014		425			425
At 31 January 2013		660			660

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		6			6			6			6

Page 3