Company Registration No. 13072094 (England and Wales)
VOLTA MOBILITY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
31 December 2023
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
VOLTA MOBILITY LIMITED
COMPANY INFORMATION
Directors
Mr D Anderton
Mr C S Bhogal
Mr H F Nieuwenhuis
Mr P E Nieuwenhuis
Company number
13072094
Registered office
6 Albion Street
Accrington
Lancashire
BB5 1QW
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
VOLTA MOBILITY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
VOLTA MOBILITY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,114
12,004
Current assets
Stocks
649,461
54,441
Debtors
4
16,223
9,760
Cash at bank and in hand
122,513
113,251
788,197
177,452
Creditors: amounts falling due within one year
5
(973,677)
(293,288)
Net current liabilities
(185,480)
(115,836)
Net liabilities
(175,366)
(103,832)
Capital and reserves
Called up share capital
4
4
Profit and loss reserves
(175,370)
(103,836)
Total equity
(175,366)
(103,832)

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

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their 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 by the board of directors and authorised for issue on 9 September 2024 and are signed on its behalf by:
Mr D Anderton
Mr P E Nieuwenhuis
Director
Director
Company registration number 13072094 (England and Wales)
VOLTA MOBILITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Volta Mobility Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6 Albion Street, Accrington, Lancashire, BB5 1QW.

1.1
Accounting convention

These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

During the period the company met its day to day working capital requirements by the financial support of companies controlled by its directors. The directors have agreed these companies will continue to support the company by way of loans to the company.true

 

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The

financial statements do not include any adjustments that would result from a withdrawal of this support.

 

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

VOLTA MOBILITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property
10% on cost
Plant and equipment
15% reducing balance
Computers
33% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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.

VOLTA MOBILITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Employees

The average monthly number of persons employed by the company during the year was:

2023
2022
Number
Number
Total
3
2
3
Tangible fixed assets
Improvements to property
Plant and equipment
Computers
Total
£
£
£
£
Cost
At 1 January 2023 and 31 December 2023
1,142
13,672
1,385
16,199
Depreciation and impairment
At 1 January 2023
228
3,204
763
4,195
Depreciation charged in the year
114
1,571
205
1,890
At 31 December 2023
342
4,775
968
6,085
Carrying amount
At 31 December 2023
800
8,897
417
10,114
At 31 December 2022
914
10,468
622
12,004
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
6,882
5,995
Other debtors
9,341
3,765
16,223
9,760
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
151,397
82,814
Amounts owed to parent undertakings
399,209
199,996
Taxation and social security
-
0
8,075
Other creditors
423,071
2,403
973,677
293,288
VOLTA MOBILITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
6
Operating lease commitments
Lessee

At the balance sheet date, the company had operating lease commitments totalling £30,000 (2022 - £22,500)

7
Related party transactions

At the balance sheet date, the company owed £399,209 (2022 - £199,996) to companies controlled by one of the directors

.

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