Mobius At Work Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07785201 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2017

for

Mobius At Work Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

14

DIRECTORS:

K E Lancaster

Mrs L M Lancaster

REGISTERED OFFICE:

Unit 6

Turners Barn

Redlake Lane

Wokingham

Berkshire

RG40 3BF

REGISTERED NUMBER:

07785201 (England and Wales)

ACCOUNTANTS:

PKB Accountants Limited

Chartered Certified Accountants

Beechey House

87 Church Street

Crowthorne

Berkshire

RG45 7AW

FIXED ASSETS

Tangible assets

4

101,449

12,338

CURRENT ASSETS

Stocks

-

2,958

Debtors

5

590,438

75,563

Cash at bank and in hand

522,403

180,145

1,112,841

258,666

CREDITORS

Amounts falling due within one year

6

441,703

119,277

NET CURRENT ASSETS

671,138

139,389

TOTAL ASSETS LESS CURRENT LIABILITIES

772,587

151,727

CREDITORS

Amounts falling due after more than one year

7

(25,858

)

-

PROVISIONS FOR LIABILITIES

10

(19,276

)

(2,468

)

NET ASSETS

727,453

149,259

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

727,451

149,257

SHAREHOLDERS' FUNDS

727,453

149,259

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and authorised for issue by the Board of Directors on 3 September 2018 and were signed on its behalf by:

K E Lancaster - Director

1.	STATUTORY INFORMATION

Mobius At Work 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make

judgements, estimates and assumptions about the carrying values of assets and liabilities that are

not readily apparent from other sources. The estimates and underlying assumptions are based on

historical experience and other factors that are considered to be relevant. Actual results may differ

from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects

both current and future periods.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the

company and the revenue can be reliably measured. Revenue is measured as the fair value of the

consideration received or receivable, excluding discounts, rebates, value added tax and other sales

taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when the following conditions are satisfied :-

- The company has transferred to the buyer the significant risks and rewards of ownership of the

goods

- The company retains neither continuing managerial involvement to the degree usually associated

with ownership nor effective control over the goods sold

- The amount of revenue can be measured reliably

- It is probable that the economic benefits associated with the transaction will flow to the company

- The costs incurred or to be incurred in respect of the transaction can be measured reliably

Specifically, revenue is recognised when goods are delivered and legal title is passed.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are

provided when the following conditions are satisfied:

- The amount of revenue can be measured reliably;

- it is probable that the company will receive consideration due in line with contract terms

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on reducing balance and 20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Fixtures and Fittings and Computer Equipment are stated at cost less accumulated depreciation and

accumulated impairment losses.

At each balance sheet date, the Company reviews the carrying amounts of its Tangible Fixed Assets

to determine whether there is any indication that any items have suffered an impairment loss. If any

such indication exists, the recoverable amount of an asset is estimated in order to determine the

extent of the impairment loss, if any.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying

amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an

expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to

the revised estimate of its recoverable amount, to the extent that the increased carrying amount

does not exceed the carrying amount that would have been determined (net of depreciation) had no

impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is

recognised as income immediately.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as

reported in the statement of comprehensive income because of items of income or expense that are

taxable or deductible in other years and items that are never taxable or deductible. The Company's

liability for current tax is calculated using tax rates that have been enacted or substantively enacted

by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and

liabilities in the financial statements and the corresponding tax bases used in the computation of

taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences.

Deferred tax assets are generally recognised for all deductible temporary differences to the extent

that it is probable that taxable profits will be available against which those deductible timing

differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of

each reporting period and reduced to the extent that it is no longer probable that sufficient taxable

profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the

period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that

have been enacted or substantively enacted by the end of the reporting period. The measurement

of deferred tax liabilities and assets reflects the tax consequences that would follow from the

manner in which the Company expects, to recover or settle the carrying amounts of its assets and

liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items

that are recognised in other comprehensive income or directly in equity, in which case, the current

and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Assets that are held by the Company under leases which transfer to the Company substantially all

the risks and rewards of ownership are classified as being held under finance leases. Leases which do

not transfer substantially all the risks and rewards of ownership to the Company are classified as

operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value

at the inception of the lease or, if lower, at the present value of the minimum lease payment. The

corresponding liability to the lessor is included in the statement of financial position as a finance

lease obligation. Lease payments are apportioned between finance expense and reduction of the

lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability.

Finance expenses are recognised immediately in profit and loss account.

Operating lease payments are recognised as an expense on a straight- line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are

recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental

expense on a straight - line basis.

Pension costs and other post-retirement benefits

The obligations for contributions to the defined contribution scheme are recognised as an expense

as incurred. The assets of the scheme are held separately from those of the Company in an

independently administered fund.

Related parties

For the purposes of these financial statements, a party is considered to be related to the Company if

any of the following are applicable:

(1) The party has the ability, directly or indirectly, through one or more intermediaries, to control

the Company or exercise significant influence over the company in making financial and operating

policy decisions, or has joint control over the Company.

(2) The Company and the party are subject to common control.

(3) The party is an associate of the Company.

(4) The party is a member of key management personnel of the Company or the Company's parent,

or a close family member of such an individual.

(5) The party is a post - employment benefit plan which is for the benefit of employees of the

Company or of any entity that is a related party of the Company.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and

Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the

company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements,

when there is a legally enforceable right to set off the recognised amounts and there is an intention

to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are

measured initially at fair value, net of transaction costs, and are measured subsequently at

amortised cost using the effective interest method, less any impairment.

Cash and Cash Equivalents

Cash is represented by cash equivalents and cash in hand with financial institutions repayable

without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments

that mature in no more than three months form the date of acquisition and that are readily

convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at transaction price. Other financial liabilities, including bank

loans, are measured initially at fair value, net of transaction costs, and are measured subsequently

at amortised cost using the effective interest method.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective

interest method so that the amount charged is at a constant rate on the carrying amount. Issue

costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found,

an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference

between an asset's carrying amount and the present value of estimated cash flows discounted at the

asset's original effective interest rate. If a financial asset has a variable interest rate, the discount

rate for measuring any impairment loss is the current effective rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the

difference between an asset's carrying amount and the best estimate, which is an approximation, of

the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial

position when there is an enforceable right to set off the recognised amounts and there is an

intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

At each reporting date non-financial assets not carried at face value are reviewed to determine

whether there is an indication that an asset may be impaired. If there is an indication of possible

impairment, the recoverable amount of any asset or group of related assets, which is the higher of

value in use and the fair value less cost to sell, is estimated and compared with its carrying amount.

If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable

amount and an impairment loss is recognised immediately in profit or loss.

Inventories are also assessed for impairment at each reporting date, the carrying amount of each

item of inventory, or group of similar items, is compared with its selling price less costs to complete

and sell. If an item of inventory or group of similar items is impaired, its carrying amount is reduced

to selling price less costs to complete and sell, and an impairment loss is recognised immediately in

profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2016 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2017

14,417

-

22,149

36,566

Additions

1,300

82,743

11,339

95,382

At 31 December 2017

15,717

82,743

33,488

131,948

DEPRECIATION

At 1 January 2017

4,155

-

20,073

24,228

Charge for year

2,843

1,724

1,704

6,271

At 31 December 2017

6,998

1,724

21,777

30,499

NET BOOK VALUE

At 31 December 2017

8,719

81,019

11,711

101,449

At 31 December 2016

10,262

-

2,076

12,338

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

82,743

At 31 December 2017

82,743

DEPRECIATION

Charge for year

1,724

At 31 December 2017

1,724

NET BOOK VALUE

At 31 December 2017

81,019

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

323,827

68,553

Other debtors

266,611

7,010

590,438

75,563

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Hire purchase contracts (see note 8)

6,359

-

Trade creditors

272,261

87,450

Taxation and social security

143,490

30,206

Other creditors

19,593

1,621

441,703

119,277

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Hire purchase contracts (see note 8)

25,858

-

8.	LEASING AGREEMENTS

The company has future operating lease commitments of £17,000.

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.17

31.12.16

£

£

Hire purchase contracts

32,217

-

The hire purchase liabilitites are secured on the assets.

10.	PROVISIONS FOR LIABILITIES

31.12.17

31.12.16

£

£

Deferred tax

19,276

2,468

Deferred

tax

£

Balance at 1 January 2017

2,468

Provided during year

16,808

Balance at 31 December 2017

19,276

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £79,600 (2016 - £46,500) were paid to the directors .

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Mobius At Work Limited for the year ended 31 December 2017 which

comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Mobius At Work Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mobius At Work Limited and state those matters that we have agreed to state to the Board of Directors of Mobius At Work Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mobius At Work 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 Mobius At Work Limited. You consider that Mobius At Work 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 Mobius At Work 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.

PKB Accountants Limited

Chartered Certified Accountants

Beechey House

87 Church Street

Crowthorne

Berkshire

RG45 7AW

3 September 2018