2022-01-012022-12-312022-12-31false07479324FONE MARKET LTD2023-11-18iso4217:GBPxbrli:pure074793242022-01-01074793242022-12-31074793242022-01-012022-12-31074793242021-01-01074793242021-12-31074793242021-01-012021-12-3107479324bus:SmallEntities2022-01-012022-12-3107479324bus:AuditExempt-NoAccountantsReport2022-01-012022-12-3107479324bus:FullAccounts2022-01-012022-12-3107479324bus:PrivateLimitedCompanyLtd2022-01-012022-12-3107479324core:WithinOneYear2022-12-3107479324core:AfterOneYear2022-12-3107479324core:WithinOneYear2021-12-3107479324core:AfterOneYear2021-12-3107479324core:ShareCapital2022-12-3107479324core:SharePremium2022-12-3107479324core:RevaluationReserve2022-12-3107479324core:OtherReservesSubtotal2022-12-3107479324core:RetainedEarningsAccumulatedLosses2022-12-3107479324core:ShareCapital2021-12-3107479324core:SharePremium2021-12-3107479324core:RevaluationReserve2021-12-3107479324core:OtherReservesSubtotal2021-12-3107479324core:RetainedEarningsAccumulatedLosses2021-12-3107479324core:LandBuildings2022-12-3107479324core:PlantMachinery2022-12-3107479324core:Vehicles2022-12-3107479324core:FurnitureFittings2022-12-3107479324core:OfficeEquipment2022-12-3107479324core:NetGoodwill2022-12-3107479324core:IntangibleAssetsOtherThanGoodwill2022-12-3107479324core:ListedExchangeTraded2022-12-3107479324core:UnlistedNon-exchangeTraded2022-12-3107479324core:LandBuildings2021-12-3107479324core:PlantMachinery2021-12-3107479324core:Vehicles2021-12-3107479324core:FurnitureFittings2021-12-3107479324core:OfficeEquipment2021-12-3107479324core:NetGoodwill2021-12-3107479324core:IntangibleAssetsOtherThanGoodwill2021-12-3107479324core:ListedExchangeTraded2021-12-3107479324core:UnlistedNon-exchangeTraded2021-12-3107479324core:LandBuildings2022-01-012022-12-3107479324core:PlantMachinery2022-01-012022-12-3107479324core:Vehicles2022-01-012022-12-3107479324core:FurnitureFittings2022-01-012022-12-3107479324core:OfficeEquipment2022-01-012022-12-3107479324core:NetGoodwill2022-01-012022-12-3107479324core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3107479324core:ListedExchangeTraded2022-01-012022-12-3107479324core:UnlistedNon-exchangeTraded2022-01-012022-12-3107479324core:MoreThanFiveYears2022-01-012022-12-3107479324core:Non-currentFinancialInstruments2022-12-3107479324core:Non-currentFinancialInstruments2021-12-3107479324dpl:CostSales2022-01-012022-12-3107479324dpl:DistributionCosts2022-01-012022-12-3107479324core:LandBuildings2022-01-012022-12-3107479324core:PlantMachinery2022-01-012022-12-3107479324core:Vehicles2022-01-012022-12-3107479324core:FurnitureFittings2022-01-012022-12-3107479324core:OfficeEquipment2022-01-012022-12-3107479324dpl:AdministrativeExpenses2022-01-012022-12-3107479324core:NetGoodwill2022-01-012022-12-3107479324core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3107479324dpl:GroupUndertakings2022-01-012022-12-3107479324dpl:ParticipatingInterests2022-01-012022-12-3107479324dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3107479324core:ListedExchangeTraded2022-01-012022-12-3107479324dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3107479324core:UnlistedNon-exchangeTraded2022-01-012022-12-3107479324dpl:CostSales2021-01-012021-12-3107479324dpl:DistributionCosts2021-01-012021-12-3107479324core:LandBuildings2021-01-012021-12-3107479324core:PlantMachinery2021-01-012021-12-3107479324core:Vehicles2021-01-012021-12-3107479324core:FurnitureFittings2021-01-012021-12-3107479324core:OfficeEquipment2021-01-012021-12-3107479324dpl:AdministrativeExpenses2021-01-012021-12-3107479324core:NetGoodwill2021-01-012021-12-3107479324core:IntangibleAssetsOtherThanGoodwill2021-01-012021-12-3107479324dpl:GroupUndertakings2021-01-012021-12-3107479324dpl:ParticipatingInterests2021-01-012021-12-3107479324dpl:GroupUndertakingscore:ListedExchangeTraded2021-01-012021-12-3107479324core:ListedExchangeTraded2021-01-012021-12-3107479324dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-01-012021-12-3107479324core:UnlistedNon-exchangeTraded2021-01-012021-12-3107479324core:NetGoodwill2022-12-3107479324core:IntangibleAssetsOtherThanGoodwill2022-12-3107479324core:LandBuildings2022-12-3107479324core:PlantMachinery2022-12-3107479324core:Vehicles2022-12-3107479324core:FurnitureFittings2022-12-3107479324core:OfficeEquipment2022-12-3107479324core:AfterOneYear2022-12-3107479324core:WithinOneYear2022-12-3107479324core:ListedExchangeTraded2022-12-3107479324core:UnlistedNon-exchangeTraded2022-12-3107479324core:ShareCapital2022-12-3107479324core:SharePremium2022-12-3107479324core:RevaluationReserve2022-12-3107479324core:OtherReservesSubtotal2022-12-3107479324core:RetainedEarningsAccumulatedLosses2022-12-3107479324core:NetGoodwill2021-12-3107479324core:IntangibleAssetsOtherThanGoodwill2021-12-3107479324core:LandBuildings2021-12-3107479324core:PlantMachinery2021-12-3107479324core:Vehicles2021-12-3107479324core:FurnitureFittings2021-12-3107479324core:OfficeEquipment2021-12-3107479324core:AfterOneYear2021-12-3107479324core:WithinOneYear2021-12-3107479324core:ListedExchange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FONE MARKET LTD

Registered Number
07479324
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2022

FONE MARKET LTD
Company Information
for the year from 1 January 2022 to 31 December 2022

Director

MALJI, Shokat

Registered Address

315 Settle Street
Bolton
BL3 3EB

Registered Number

07479324 (England and Wales)
FONE MARKET LTD
Balance Sheet as at
31 December 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Tangible assets737,5401,765
37,5401,765
Current assets
Stocks893,45067,792
Debtors9169,151127,037
Cash at bank and on hand161,518109,179
424,119304,008
Creditors amounts falling due within one year10(218,033)(162,549)
Net current assets (liabilities)206,086141,459
Total assets less current liabilities243,626143,224
Creditors amounts falling due after one year11(63,828)(34,262)
Provisions for liabilities13(7,133)(335)
Net assets172,665108,627
Capital and reserves
Called up share capital11
Profit and loss account172,664108,626
Shareholders' funds172,665108,627
The financial statements were approved and authorised for issue by the Director on 18 November 2023, and are signed on its behalf by:
MALJI, Shokat
Director
Registered Company No. 07479324
FONE MARKET LTD
Notes to the Financial Statements
for the year ended 31 December 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The company's principal activity during the year continued to be buying and selling of mobile phones and related products.
4.Basis of measurement used in financial statements
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).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Vehicles25
Office Equipment20
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Deferred tax policy
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.
Foreign currency translation and operations policy
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.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
6.Employee information

20222021
Average number of employees during the year43
7.Property, plant and equipment

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 January 22-4,8354,835
Additions48,171-48,171
At 31 December 2248,1714,83553,006
Depreciation and impairment
At 01 January 22-3,0703,070
Charge for year12,04235412,396
At 31 December 2212,0423,42415,466
Net book value
At 31 December 2236,1291,41137,540
At 31 December 21-1,7651,765
8.Stocks
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.

2022

2021

££
Finished goods93,45067,792
Total93,45067,792
9.Debtors

2022

2021

££
Trade debtors / trade receivables109,58937,161
Other debtors59,56289,876
Total169,151127,037
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.
10.Creditors within one year

2022

2021

££
Trade creditors / trade payables140,303111,750
Bank borrowings and overdrafts10,34110,341
Taxation and social security16,65716,513
Finance lease and HP contracts4,891-
Other creditors45,84123,945
Total218,033162,549
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.
11.Creditors after one year

2022

2021

££
Bank borrowings and overdrafts24,24034,262
Other creditors39,588-
Total63,82834,262
12.Finance lease and HP contracts after one year

2022

2021

££
Finance lease and HP contracts39,588-
13.Provisions for liabilities
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.

2022

2021

££
Net deferred tax liability (asset)7,133335
Total7,133335