Company registration number 4256338 (England and Wales)
MOBILE TECHNICAL STAFF LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
MOBILE TECHNICAL STAFF LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
MOBILE TECHNICAL STAFF LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
53
371
Current assets
Debtors
5
429,996
500,844
Cash at bank and in hand
9,596
10,859
439,592
511,703
Creditors: amounts falling due within one year
6
(829,233)
(542,407)
Net current liabilities
(389,641)
(30,704)
Total assets less current liabilities
(389,588)
(30,333)
Creditors: amounts falling due after more than one year
7
(37,541)
(81,760)
Net liabilities
(427,129)
(112,093)
Capital and reserves
Called up share capital
143,617
143,617
Share premium account
1,379
1,379
Profit and loss reserves
(572,125)
(257,089)
Total equity
(427,129)
(112,093)

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 member has 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.

MOBILE TECHNICAL STAFF LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 September 2024 and are signed on its behalf by:
Mr J Ball
Director
Company registration number 4256338 (England and Wales)
MOBILE TECHNICAL STAFF LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Mobile Technical Staff Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2 Pegasus Court, 26 Herschel Street, SLOUGH, SL1 1PA.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis, not withstanding net liabilities of £427,129. true

 

Despite challenging trading conditions the Directors remain optimistic of improvement and a return to profitability in the near future.

 

Arrangements with Creditors have been made and as a result of a recent cash injection from the Directors the outstanding loan balance with Fleximise was cleared. A time-to pay arrangement is in place with HMRC.

 

The Company has recently renewed its signatory with Heathrow & Gatwick Airports to enable airside passes to be issued to operatives. This will enable the Company to access the supply chain at Heathrow and benefit from the forthcoming investment at the airport, post Covid.

 

New experienced staff (recruiters) have recently been hired and a management restructure to provide a robust platform for growth. The Company will also be moving to smaller, serviced offices which will save on costs of the  current onerous lease in Slough.

 

The Directors remain fully committed to a return to profitability and growing the turnover and business levels which it previously enjoyed.

 

 

 

 

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.

MOBILE TECHNICAL STAFF LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -

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.

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:

Plant and equipment
25% straight line

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
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.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

MOBILE TECHNICAL STAFF LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
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.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2023
2022
Number
Number
Total
12
12
MOBILE TECHNICAL STAFF LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 December 2023
164,602
Depreciation and impairment
At 1 January 2023
164,231
Depreciation charged in the year
318
At 31 December 2023
164,549
Carrying amount
At 31 December 2023
53
At 31 December 2022
371
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
350,853
422,288
Other debtors
79,143
78,556
429,996
500,844
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
181,013
177,327
Trade creditors
93,367
54,616
Taxation and social security
201,433
74,898
Other creditors
353,420
235,566
829,233
542,407

The bank loans included within creditors falling due within one year are secured by way of a personal guarantee provided by the company's director, J Ball and by way of government guarantee under the Bounce back Loan Scheme.

 

Included within Other creditors is an invoice discounting facility of £339,173 (2022 £220,975 ) secured over trade debts of £350,853 (2022 £422,289 ).

MOBILE TECHNICAL STAFF LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
37,541
81,760

The bank loans included within creditors falling due after more than one year are secured by way of a personal guarantee provided by the company's director, J Ball and by way of government guarantee under the Bounce back Loan Scheme.

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
£
£
Within one year
46,793
62,391
Between two and five years
-
0
46,793
In over five years
-
0
-
0
46,793
109,184
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