Registered number
07204057
Mobile Rocket Limited
Filleted Accounts
30 April 2023
Mobile Rocket Limited
Registered number: 07204057
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 37,444 38,400
Current assets
Debtors 5 106,645 49,857
Cash at bank and in hand 286,583 287,705
393,228 337,562
Creditors: amounts falling due within one year 6 (147,049) (104,686)
Net current assets 246,179 232,876
Total assets less current liabilities 283,623 271,276
Creditors: amounts falling due after more than one year 7 (32,407) (42,109)
Provisions for liabilities (9,361) -
Net assets 241,855 229,167
Capital and reserves
Called up share capital 100 100
Profit and loss account 241,755 229,067
Shareholders' funds 241,855 229,167
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Adam Lee
Director
Approved by the board on 13 October 2023
Mobile Rocket Limited
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% - 33% Straight Line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 21 17
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2022 26,500
At 30 April 2023 26,500
Amortisation
At 1 May 2022 26,500
At 30 April 2023 26,500
Net book value
At 30 April 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2022 82,519
Additions 8,431
At 30 April 2023 90,950
Depreciation
At 1 May 2022 44,119
Charge for the year 9,387
At 30 April 2023 53,506
Net book value
At 30 April 2023 37,444
At 30 April 2022 38,400
5 Debtors 2023 2022
£ £
Trade debtors 83,954 32,653
Other debtors 22,691 17,204
106,645 49,857
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 140,957 90,669
Other creditors 6,092 14,017
147,049 104,686
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 32,407 42,109
8 Other information
Mobile Rocket Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Welbury Way
Aycliffe Business Park
Newton Aycliffe
County Durham
DL5 6ZE
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