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Company Registration No. 11126656 (England and Wales)
Mobitech Cirencester Ltd Unaudited accounts for the year ended 31 December 2023
Mobitech Cirencester Ltd Unaudited accounts Contents
Page
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Mobitech Cirencester Ltd Company Information for the year ended 31 December 2023
Directors
Muhammad Imran Muhammad Imran
Company Number
11126656 (England and Wales)
Registered Office
1a Brewery Court Cricklade Street Cirencester GL7 1JH England
Accountants
Eureka Accountants Limited 63 Lancing Road Newbury Park London IG2 7DQ
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Mobitech Cirencester Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
261 
Current assets
Inventories
15,500 
3,500 
Debtors
7,889 
11,027 
Cash at bank and in hand
84 
1,418 
23,473 
15,945 
Creditors: amounts falling due within one year
(18,495)
(7,572)
Net current assets
4,978 
8,373 
Total assets less current liabilities
4,978 
8,634 
Creditors: amounts falling due after more than one year
(4,442)
(7,484)
Net assets
536 
1,150 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
535 
1,149 
Shareholders' funds
536 
1,150 
For the year ending 31 December 2023 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2024 and were signed on its behalf by
Muhammad Imran Director Company Registration No. 11126656
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Mobitech Cirencester Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Mobitech Cirencester Ltd is a private company, limited by shares, registered in England and Wales, registration number 11126656. The registered office is 1a Brewery Court, Cricklade Street, Cirencester, GL7 1JH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
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Mobitech Cirencester Ltd Notes to the Accounts for the year ended 31 December 2023
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Presentation currency
The accounts are presented in £ sterling.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 January 2023
1,050 
At 31 December 2023
1,050 
Depreciation
At 1 January 2023
789 
Charge for the year
261 
At 31 December 2023
1,050 
Net book value
At 31 December 2023
- 
At 31 December 2022
261 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,000 
3,000 
Other debtors
4,889 
8,027 
7,889 
11,027 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
3,042 
2,967 
Taxes and social security
203 
3,855 
Accruals
750 
750 
Deferred income
14,500 
- 
18,495 
7,572 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
4,442 
7,484 
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Mobitech Cirencester Ltd Notes to the Accounts for the year ended 31 December 2023
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Advances/Credits
8,027 
- 
6,138 
1,889 
8,027 
- 
6,138 
1,889 
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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