false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2016-10-01
Sage Accounts Production Advanced 2017 Update 4 - FRS
5,275
2,647
7,922
3,568
612
4,180
3,742
1,707
xbrli:pure
xbrli:shares
iso4217:GBP
07374484
2016-10-01
2017-09-30
07374484
2017-09-30
07374484
2016-09-30
07374484
2016-09-30
07374484
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2017-09-30
07374484
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2017-09-30
07374484
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2016-10-01
2017-09-30
07374484
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2017-09-30
07374484
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2016-09-30
07374484
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2017-09-30
07374484
core:ShareCapital
2016-09-30
07374484
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2017-09-30
07374484
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2016-09-30
07374484
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2017-09-30
07374484
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2016-09-30
07374484
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2016-09-30
07374484
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07374484
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07374484
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2016-09-30
07374484
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2016-09-30
07374484
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2016-10-01
2017-09-30
07374484
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2016-10-01
2017-09-30
07374484
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2016-10-01
2017-09-30
07374484
bus:SmallCompaniesRegimeForAccounts
2016-10-01
2017-09-30
07374484
bus:PrivateLimitedCompanyLtd
2016-10-01
2017-09-30
07374484
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2016-10-01
2017-09-30
07374484
core:OfficeEquipment
2016-09-30
07374484
core:OfficeEquipment
2017-09-30
COMPANY REGISTRATION NUMBER:
07374484
|
Mobile Data Secured Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
Mobile Data Secured Limited |
|
Year ended 30 September 2017
|
Officers and professional advisers |
1 |
|
|
|
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements |
2 |
|
|
|
Statement of financial position |
3 to 4 |
|
|
|
Notes to the financial statements |
5 to 9 |
|
|
|
Mobile Data Secured Limited |
|
|
Officers and Professional Advisers |
|
|
Registered office |
8 Jury Street |
|
Warwick |
|
Warwickshire |
|
United Kingdom |
|
CV34 4EW |
|
|
|
Accountants |
Edwards Pearson & White LLP |
|
Chartered Certified Accountants |
|
Warwick & Coventry |
|
|
|
Mobile Data Secured Limited |
|
|
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Mobile Data Secured Limited |
|
Year ended 30 September 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mobile Data Secured Limited for the year ended 30 September 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of Mobile Data Secured Limited in accordance with the terms of our engagement letter dated 12 November 2010. Our work has been undertaken solely to prepare for your approval the financial statements of Mobile Data Secured Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mobile Data Secured Limited and its director for our work or for this report.
It is your duty to ensure that Mobile Data Secured Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mobile Data Secured Limited. You consider that Mobile Data Secured Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Mobile Data Secured Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Edwards Pearson & White LLP
Chartered Certified Accountants
Warwick & Coventry
25 May 2018
|
Mobile Data Secured Limited |
|
|
Statement of Financial Position |
|
30 September 2017
Fixed assets
|
Tangible assets |
3 |
|
3,742 |
1,707 |
|
|
|
|
|
Current assets
|
Debtors |
4 |
3,234,268 |
|
2,220,504 |
|
Cash at bank and in hand |
38 |
|
– |
|
----------- |
|
----------- |
|
3,234,306 |
|
2,220,504 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
2,333,980 |
|
1,318,659 |
|
----------- |
|
----------- |
|
Net current assets |
|
900,326 |
901,845 |
|
|
-------- |
-------- |
|
Total assets less current liabilities |
|
904,068 |
903,552 |
|
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
711 |
341 |
|
|
-------- |
-------- |
|
Net assets |
|
903,357 |
903,211 |
|
|
-------- |
-------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
100 |
100 |
|
Share premium account |
|
1,013,942 |
1,013,942 |
|
Profit and loss account |
|
(
110,685) |
(
110,831) |
|
|
----------- |
----------- |
|
Shareholders funds |
|
903,357 |
903,211 |
|
|
----------- |
----------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Mobile Data Secured Limited |
|
|
Statement of Financial Position (continued) |
|
30 September 2017
These financial statements were approved by the
board of directors
and authorised for issue on
24 May 2018
, and are signed on behalf of the board by:
Company registration number:
07374484
|
Mobile Data Secured Limited |
|
|
Notes to the Financial Statements |
|
Year ended 30 September 2017
1.
General information
The company is a private company limited by shares, registered and trading in England and Wales. The address of the registered office is 8 Jury Street, Warwick, Warwickshire, CV34 4EW.
2.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 October 2015.
Judgements in applying accounting policies and key sources of estimation in uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historic experience and various other factors that are believed to be reasonable under the circumstances. The results of which form the basis of making the judgements about carrying values of assets and liabilities and are not readily apparent from other sources. Actual results may differ from these estimates. The significant judgements, estimates and assumptions are: - Trade debtors At each reporting date, amounts owed by trade debtors are assessed for recoverability. If there is any evidence of impairment, the carrying amount of the debtor is reduced to its recoverable amount. The impairment loss is recognised immediately in the statement of comprehensive income. - Revenue recognition Contract revenues are recognised based on stage of completion. The application of this accounting policy requires the state of completion on contracts to be assessed. Surveys of work performed are carried out by qualified surveyors. An inherent degree of judgement will exist in determining the stage of completion on a contract at a given time. - Tangible fixed assets Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessment consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
25% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has basic financial instruments. - Financial assets Financial assets comprise cash at bank and in hand, trade debtors and amounts owed by group undertakings; these are initially recorded at cost on the date they originate and are subsequently recorded at amortised cost under the effective interest method. The company considers evidence of impairment for all individual trade and other debtors and any subsequent impairment is recognised in profit or loss. - Financial liabilities Financial liabilities comprise corporation tax, social security and other taxes and accruals; these are initially recorded at cost on the date they originate, and are subsequently carried at amortised cost under the effective interest rate method. - Debtors Short term debtors are measured at transaction price, less any impairment. - Creditors Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. - Stock and work in progress Stock and work in progress is valued at the lower of cost or net realisable value. Cost is based on purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs for completion and disposal. At each reporting date stock and work in progress are assessed for impairment. If stock and work in progress is impaired the carrying value is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss. - Income Tax Taxation expense represents the aggregate amount of the current tax and deferred tax recognised in the reporting period. Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognise4ed in the financial statements of current and previous periods. Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantially enacted by the reporting date and that they are expected to apply to the reversal of the timing differences. Deferred tax relating to land and investment properties that is measured at fair value is measured using the tax rates and allowances that apply to the sale of the asset.
3.
Tangible assets
|
Equipment |
Total |
|
£ |
£ |
|
Cost |
|
|
|
At 1 October 2016 |
5,275 |
5,275 |
|
Additions |
2,647 |
2,647 |
|
------ |
------ |
|
At 30 September 2017 |
7,922 |
7,922 |
|
------ |
------ |
|
Depreciation |
|
|
|
At 1 October 2016 |
3,568 |
3,568 |
|
Charge for the year |
612 |
612 |
|
------ |
------ |
|
At 30 September 2017 |
4,180 |
4,180 |
|
------ |
------ |
|
Carrying amount |
|
|
|
At 30 September 2017 |
3,742 |
3,742 |
|
------ |
------ |
|
At 30 September 2016 |
1,707 |
1,707 |
|
------ |
------ |
|
|
|
4.
Debtors
|
2017 |
2016 |
|
£ |
£ |
|
Trade debtors |
3,161,361 |
2,077,848 |
|
Other debtors |
72,907 |
142,656 |
|
----------- |
----------- |
|
3,234,268 |
2,220,504 |
|
----------- |
----------- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2017 |
2016 |
|
£ |
£ |
|
Bank loans and overdrafts |
– |
20 |
|
Trade creditors |
1,558,674 |
1,135,385 |
|
Other creditors |
775,306 |
183,254 |
|
----------- |
----------- |
|
2,333,980 |
1,318,659 |
|
----------- |
----------- |
|
|
|
6.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
|
2017 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
T. Bone |
(
138,747) |
(
572,570) |
(
711,317) |
|
|
-------- |
-------- |
-------- |
|
|
|
|
|
|
2016 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
T. Bone |
(
141,130) |
2,383 |
(
138,747) |
|
|
-------- |
------ |
-------- |
|
|
|
|
|
7.
Related party transactions
Mr Russell Davis, a director in the year, was paid £9,000 for consultancy work.
