MIAMI MOBILE LTD

Company Registration Number:
12331348 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 1 March 2022

End date: 28 February 2023

MIAMI MOBILE LTD

Contents of the Financial Statements

for the Period Ended 28 February 2023

Balance sheet
Additional notes
Balance sheet notes

MIAMI MOBILE LTD

Balance sheet

As at 28 February 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 44,698 54,354
Total fixed assets: 44,698 54,354
Current assets
Debtors: 4 171,238 36,876
Cash at bank and in hand: 115,388 161,318
Total current assets: 286,626 198,194
Creditors: amounts falling due within one year: 5 ( 78,689 ) ( 89,910 )
Net current assets (liabilities): 207,937 108,284
Total assets less current liabilities: 252,635 162,638
Creditors: amounts falling due after more than one year: 6 ( 14,490 ) ( 17,863 )
Provision for liabilities: ( 8,493 ) ( 10,327 )
Total net assets (liabilities): 229,652 134,448
Capital and reserves
Called up share capital: 102 102
Profit and loss account: 229,550 134,346
Total Shareholders' funds: 229,652 134,448

The notes form part of these financial statements

MIAMI MOBILE LTD

Balance sheet statements

For the year ending 28 February 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 6 September 2023
and signed on behalf of the board by:

Name: C Hayford
Status: Director

The notes form part of these financial statements

MIAMI MOBILE LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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 is reduced for estimated customer returns, rebates and other similar allowances.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:Plant & Machinery 15% reducing balanceMotor Vehicles 25% reducing balanceFixtures & Fittings 25% reducing balance

    Other accounting policies

    LeasesAssets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts aredepreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.TaxationIncome 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 thestatement of comprehensive income because of items of income or expense that are taxable or deductible in otheryears and items that are never taxable or deductible. The company's liability for current tax is calculated using taxrates 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 financialstatements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities aregenerally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductibletemporary differences to the extent that it is probable that taxable profits will be available against which thosedeductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of eachreporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be availableto 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 theliability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantivelyenacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities anddeferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequencesthat would follow from the manner in which the Company expects, at the end of the reporting period, to recover orsettle the carrying amount of its assets and liabilities.Current or deferred tax for the year is recognised in profit or loss, except when they related to items that arerecognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is alsorecognised in other comprehensive income or directly in equity respectively.

MIAMI MOBILE LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 16 13

MIAMI MOBILE LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2022 30,758 3,491 45,040 79,289
Additions 1,887 1,887
Disposals
Revaluations
Transfers
At 28 February 2023 30,758 5,378 45,040 81,176
Depreciation
At 1 March 2022 4,613 1,029 19,293 24,935
Charge for year 3,966 1,140 6,437 11,543
On disposals
Other adjustments
At 28 February 2023 8,579 2,169 25,730 36,478
Net book value
At 28 February 2023 22,179 3,209 19,310 44,698
At 28 February 2022 26,145 2,462 25,747 54,354

MIAMI MOBILE LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Debtors

2023 2022
£ £
Trade debtors 167,891 28,408
Prepayments and accrued income 3,347 8,468
Total 171,238 36,876

MIAMI MOBILE LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Amounts due under finance leases and hire purchase contracts 4,191 4,191
Taxation and social security 71,304 85,407
Other creditors 3,194 312
Total 78,689 89,910

MIAMI MOBILE LTD

Notes to the Financial Statements

for the Period Ended 28 February 2023

6. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Amounts due under finance leases and hire purchase contracts 14,490 17,863
Total 14,490 17,863