Mobility South West Limited 08132144 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is providing mobility equipment. Digita Accounts Production Advanced 6.30.9574.0 true false true 08132144 2023-01-01 2023-12-31 08132144 2023-12-31 08132144 bus:OrdinaryShareClass1 2023-12-31 08132144 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-12-31 08132144 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-12-31 08132144 core:CurrentFinancialInstruments 2023-12-31 08132144 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08132144 core:Non-currentFinancialInstruments 2023-12-31 08132144 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 08132144 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 08132144 core:Goodwill 2023-12-31 08132144 core:FurnitureFittingsToolsEquipment 2023-12-31 08132144 core:MotorVehicles 2023-12-31 08132144 bus:SmallEntities 2023-01-01 2023-12-31 08132144 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08132144 bus:FilletedAccounts 2023-01-01 2023-12-31 08132144 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08132144 bus:RegisteredOffice 2023-01-01 2023-12-31 08132144 bus:Director1 2023-01-01 2023-12-31 08132144 bus:Director3 2023-01-01 2023-12-31 08132144 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08132144 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08132144 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 08132144 core:Goodwill 2023-01-01 2023-12-31 08132144 core:FurnitureFittings 2023-01-01 2023-12-31 08132144 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 08132144 core:MotorVehicles 2023-01-01 2023-12-31 08132144 core:OfficeEquipment 2023-01-01 2023-12-31 08132144 core:PlantMachinery 2023-01-01 2023-12-31 08132144 1 2023-01-01 2023-12-31 08132144 countries:England 2023-01-01 2023-12-31 08132144 2022-12-31 08132144 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 08132144 core:Goodwill 2022-12-31 08132144 core:FurnitureFittingsToolsEquipment 2022-12-31 08132144 core:MotorVehicles 2022-12-31 08132144 2022-01-01 2022-12-31 08132144 2022-12-31 08132144 bus:OrdinaryShareClass1 2022-12-31 08132144 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-12-31 08132144 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-12-31 08132144 core:CurrentFinancialInstruments 2022-12-31 08132144 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08132144 core:Non-currentFinancialInstruments 2022-12-31 08132144 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 08132144 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 08132144 core:Goodwill 2022-12-31 08132144 core:FurnitureFittingsToolsEquipment 2022-12-31 08132144 core:MotorVehicles 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08132144

Mobility South West Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Mobility South West Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Mobility South West Limited

Company Information

Directors

Mr D S Lamb

Mr R Magson

Registered office

Mobility House
Chelworth Industrial Estate
Braydon Lane
Cricklade
SN6 6HE

Accountants

DJM Accountants BLJ Limited
26 High Street
Rickmansworth
WD3 1ER

 

Mobility South West Limited

(Registration number: 08132144)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

1,056,724

1,021,695

Tangible assets

5

213,364

263,442

 

1,270,088

1,285,137

Current assets

 

Stocks

6

2,254,061

1,792,039

Debtors

7

875,701

1,536,633

Cash at bank and in hand

 

33,351

12,257

 

3,163,113

3,340,929

Creditors: Amounts falling due within one year

8

(1,265,540)

(1,291,134)

Net current assets

 

1,897,573

2,049,795

Total assets less current liabilities

 

3,167,661

3,334,932

Creditors: Amounts falling due after more than one year

8

(128,725)

(268,749)

Net assets

 

3,038,936

3,066,183

Capital and reserves

 

Called up share capital

9

488,300

488,300

Retained earnings

2,550,636

2,577,883

Shareholders' funds

 

3,038,936

3,066,183

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 September 2024 and signed on its behalf by:
 

 

Mobility South West Limited

(Registration number: 08132144)
Balance Sheet as at 31 December 2023


Mr D S Lamb
Director

 

Mobility South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Mobility House
Chelworth Industrial Estate
Braydon Lane
Cricklade
SN6 6HE
England

These financial statements were authorised for issue by the Board on 13 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Mobility South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

RDA assets

25% on reducing balance

Fixtures and fittings

25% on reducing balance

Motor vehicles

25% on reducing balance

Office equipment

25% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

being amortised evenly over 20 years

Development costs

being amortised evenly over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Mobility South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Mobility South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2022 - 11).

4

Intangible assets

Goodwill
 £

Development costs
 £

Total
£

Cost or valuation

At 1 January 2023

57,479

1,537,101

1,594,580

Additions acquired separately

-

209,716

209,716

At 31 December 2023

57,479

1,746,817

1,804,296

Amortisation

At 1 January 2023

57,479

515,406

572,885

Amortisation charge

-

174,687

174,687

At 31 December 2023

57,479

690,093

747,572

Carrying amount

At 31 December 2023

-

1,056,724

1,056,724

At 31 December 2022

-

1,021,695

1,021,695

 

Mobility South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

334,943

233,632

568,575

At 31 December 2023

334,943

233,632

568,575

Depreciation

At 1 January 2023

167,962

135,798

303,760

Charge for the year

26,992

24,459

51,451

At 31 December 2023

194,954

160,257

355,211

Carrying amount

At 31 December 2023

139,989

73,375

213,364

At 31 December 2022

165,608

97,834

263,442

6

Stocks

2023
£

2022
£

Other inventories

2,254,061

1,792,039

7

Debtors

Current

2023
£

2022
£

Trade debtors

517,092

1,412,429

Other debtors

358,609

124,204

 

875,701

1,536,633

 

Mobility South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

58,116

184,285

Trade creditors

 

348,981

334,068

Taxation and social security

 

292,970

3,644

Accruals and deferred income

 

14,000

7,000

Other creditors

 

551,473

762,137

 

1,265,540

1,291,134

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

128,725

268,749

 

Mobility South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

488,300

488,300

488,300

488,300

       

10

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

21,311

37,625

Other borrowings

107,414

231,124

128,725

268,749

Current loans and borrowings

2023
£

2022
£

Bank borrowings

38,784

110,000

Bank overdrafts

3,018

2,033

Hire purchase contracts

16,314

33,288

Other borrowings

-

38,964

58,116

184,285

11

Parent and ultimate parent undertaking

The ultimate controlling party is D S Lamb, a director of the company..