McBain Mobile Limited - Accounts to registrar - small 16.1.1

REGISTERED NUMBER: 09695815 (England and Wales)

Unaudited Financial Statements

for the Period 1 August 2016 to 30 July 2017

for

MCBAIN MOBILE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

B O'Neill

REGISTERED OFFICE:

59-60 Grosvenor Street

London

W1K 3HZ

REGISTERED NUMBER:

09695815 (England and Wales)

ACCOUNTANTS:

Shipleys LLP

Chartered Accountants

5 Godalming Business Centre

Woolsack Way

Godalming

Surrey

GU7 1XW

FIXED ASSETS

Intangible assets

4

50,000

-

CURRENT ASSETS

Debtors

5

5,764

988

Cash at bank

75,840

139,432

81,604

140,420

CREDITORS

Amounts falling due within one year

6

200

5,857

NET CURRENT ASSETS

81,404

134,563

TOTAL ASSETS LESS CURRENT LIABILITIES

131,404

134,563

CAPITAL AND RESERVES

Called up share capital

150,024

150,024

Retained earnings

(18,620

)

(15,461

)

SHAREHOLDERS' FUNDS

131,404

134,563

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 July 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 1 June 2018 and were signed by:

B O'Neill - Director

1.	STATUTORY INFORMATION

McBain Mobile 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.

The functional currency of the company is Sterling

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Research and development

Expenditure on the research phase of an internal project is recognised as an expense in the period in which it is

incurred. Development costs incurred on specific projects are capitalised when all the following conditions are

satisfied:

Completion of the asset is technically feasible so that it will be available for use or sale

The company intends to complete the asset and use or sell it

The company has the ability to use or sell the asset and the asset will generate probable future economic benefits

(over and above cost)

There are adequate technical, financial and other resources to complete the development and to use or sell the

asset, and

The expenditure attributable to the asset during its development can be measured reliably.

Development costs not meeting the criteria for capitalisation are expensed as incurred. The cost of an internally

generated asset comprises all directly attributable costs necessary to create, produce and prepare the asset to be

capable of operating in the manner intended by management. Directly attributable costs include employee costs

incurred along with third party costs.

Careful judgement by the directors is applied when deciding whether the recognition requirements for

development costs have been met. Judgements are based on the information available at each balance sheet date.

In addition, all internal activities related to the research and development of new projects are continuously

monitored by the directors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

50,000

At 30 July 2017

50,000

NET BOOK VALUE

At 30 July 2017

50,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

5,740

21

Other debtors

24

967

5,764

988

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

5,657

Taxation and social security

(50

)

(50

)

Other creditors

250

250

200

5,857