Personal Mobility Solutions Limited - Accounts to registrar (filleted) - small 18.1

Unaudited Financial Statements for the Year Ended 30 September 2017

for

Personal Mobility Solutions Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

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

3

24,428

36,642

Tangible assets

4

444,700

464,841

469,128

501,483

CURRENT ASSETS

Stocks

5

12,592

89,810

Debtors

6

258,073

238,719

Cash at bank and in hand

926,892

830,617

1,197,557

1,159,146

CREDITORS

Amounts falling due within one year

7

419,840

642,050

NET CURRENT ASSETS

777,717

517,096

TOTAL ASSETS LESS CURRENT LIABILITIES

1,246,845

1,018,579

PROVISIONS FOR LIABILITIES

8

-

6,131

NET ASSETS

1,246,845

1,012,448

CAPITAL AND RESERVES

Called up share capital

9

625

625

Revaluation reserve

10

175,068

195,421

Retained earnings

10

1,071,152

816,402

SHAREHOLDERS' FUNDS

1,246,845

1,012,448

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 18 April 2018 and were signed by:

W Kiely - Director

1.	STATUTORY INFORMATION

Personal Mobility Solutions 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "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 as modified by the revaluation of certain assets.

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

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.

Financial instruments

Basic financial instruments are recognised at settlement value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

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.

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.

3.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 October 2016

and 30 September 2017

115,859

24,548

140,407

AMORTISATION

At 1 October 2016

88,054

15,711

103,765

Charge for year

9,269

2,945

12,214

At 30 September 2017

97,323

18,656

115,979

NET BOOK VALUE

At 30 September 2017

18,536

5,892

24,428

At 30 September 2016

27,805

8,837

36,642

4.	TANGIBLE FIXED ASSETS

Fixtures

Office &

and

Motor

sundry

fittings

vehicles

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 October 2016

7,305

777,597

55,808

840,710

Additions

-

168,138

2,166

170,304

Disposals

-

(103,853

)

-

(103,853

)

Revaluations

-

(20,352

)

-

(20,352

)

At 30 September 2017

7,305

821,530

57,974

886,809

DEPRECIATION

At 1 October 2016

5,103

325,127

45,639

375,869

Charge for year

550

167,481

3,084

171,115

Eliminated on disposal

-

(104,875

)

-

(104,875

)

At 30 September 2017

5,653

387,733

48,723

442,109

NET BOOK VALUE

At 30 September 2017

1,652

433,797

9,251

444,700

At 30 September 2016

2,202

452,470

10,169

464,841

Cost or valuation at 30 September 2017 is represented by:

Fixtures

Office &

and

Motor

sundry

fittings

vehicles

equipment

Totals

£

£

£

£

Valuation in 2012

2,761

287,112

38,696

328,569

Valuation in 2013

1,180

139,578

3,170

143,928

Valuation in 2014

698

(42,274

)

10,328

(31,248

)

Valuation in 2015

2,666

233,167

3,614

239,447

Valuation in 2016

-

160,014

-

160,014

Valuation in 2017

-

43,933

2,166

46,099

7,305

821,530

57,974

886,809

5.

STOCKS

30.9.17

30.9.16

£

£

Stocks

12,592

89,810

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade debtors

102,951

81,587

Other debtors

113,773

115,625

VAT

17,518

32,415

Deferred tax asset

9,437

-

Prepayments

14,394

9,092

258,073

238,719

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.9.16

£

£

Trade creditors

23,425

25,329

Customer deposits

222,673

428,463

Tax

75,163

63,077

Social security and other taxes

8,359

7,573

Other creditors

192

87

Accruals and deferred income

90,028

117,521

419,840

642,050

8.	PROVISIONS FOR LIABILITIES

30.9.16

£

Deferred tax

6,131

Deferred

tax

£

Balance at 1 October 2016

6,131

Credit to Income Statement during year

(15,568

)

Balance at 30 September 2017

(9,437

)

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.17

30.9.16

value:

£

£

625

Ordinary

£1

625

625

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 October 2016

816,402

195,421

1,011,823

Profit for the year

254,750

254,750

Fixed asset revaluation

-

(20,353

)

(20,353

)

At 30 September 2017

1,071,152

175,068

1,246,220

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is W Kiely.