Mobisoft Corporation Limited
Unaudited Financial Statements
For the year ended 30 June 2023
Pages for Filing with Registrar
Company Registration No. 06787248 (England and Wales)
Mobisoft Corporation Limited
Company Information
Director
Mr D Metcalfe
Company number
06787248
Registered office
Castle Court
41 London Road
Reigate
Surrey
RH2 9RJ
Accountants
Moore Kingston Smith LLP
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Mobisoft Corporation Limited
Balance Sheet
As at 30 June 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
-
0
650
Creditors: amounts falling due within one year
5
(36,445)
(34,981)
Net current liabilities
(36,445)
(34,331)
Creditors: amounts falling due after more than one year
6
(11,529)
(15,796)
Net liabilities
(47,974)
(50,127)
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
(48,974)
(51,127)
Total equity
(47,974)
(50,127)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 22 February 2024
Mr D Metcalfe
Director
Company Registration No. 06787248
Mobisoft Corporation Limited
Notes to the Financial Statements
For the year ended 30 June 2023
Page 2
1
Accounting policies
Company information

Mobisoft Corporation Limited is a private company limited by shares incorporated in England and Wales. The registered office is Castle Court, 41 London Road, Reigate, Surrey, RH2 9RJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the Balance Sheet date the company had net liabilities of £47,974. The company is supported by the director who has confirmed that he will continue to support the business for at least the twelve months from the date of approval of the accounts. The director has assessed the impact of trueexternal factors on the company and consider any impact or delays to be short term only. As a result the director believes that the company will be able to continue in business and meet its liabilities as they fall due for a period of at least twelve months from the date of approval of the financial statements.

 

On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.

1.3
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Fixtures, fittings & equipment
25% straight line
1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other, or basic financial instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Mobisoft Corporation Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
Page 3
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2022: 1).

3
Taxation

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2023
2022
£
£
Profit before taxation
2,153
4,641
Expected tax charge based on the standard rate of corporation tax in the UK of 19.00% (2022: 19.00%)
409
882
Losses on discontinued operations not recognised
(409)
(882)
Taxation charge for the year
-
-
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
-
650
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
23,296
20,442
Taxation and social security
2,193
-
0
Other creditors
7,872
11,639
Accruals and deferred income
3,084
2,900
36,445
34,981

 

Mobisoft Corporation Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2023
Page 4
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
11,529
15,796

The bank loan is a Bounce Back Loan, supported by the Bounce Back Loan Scheme, and is secured by a guarantee from the UK Government under Bounce Back Loan Scheme Guarantee. The loan is repayable in instalments up to and including January 2027. Interest is payable at 2.5% per annum.

 

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
2,067
387
9
Directors' transactions

At the year end, £6,200 (2022: 9,467) was due to the director of the company.

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