Registration number:
The Mobile Phone House Limited
for the Year Ended 31 March 2024
The Mobile Phone House Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
The Mobile Phone House Limited
Company Information
Director: |
Mr K Malik |
Company secretary: |
Mrs A Malik |
Registered office: |
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Registered number: |
05783164 |
Accountants: |
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The Mobile Phone House Limited
(Registration number: 05783164)
Balance Sheet as at 31 March 2024
Note |
31.03.24 |
31.03.23 |
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£ |
£ |
£ |
£ |
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FIXED ASSETS |
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Tangible assets |
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CURRENT ASSETS |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
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Creditors within 1yr |
12,566 |
14,000 |
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Net current assets/(liabilities) |
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( |
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Net assets |
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CAPITAL AND RESERVES |
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Called up share capital |
1 |
1 |
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Profit and loss account |
1,961 |
1,502 |
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Shareholders' funds |
1,962 |
1,503 |
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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 director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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The Mobile Phone House Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
1. |
General information |
The company is a private company limited by share capital, incorporated in England and Wales .
The address of its registered office is:
England
These financial statements were authorised for issue by the
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.
The presentational currency is Pound Sterling (£).
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.
Government grants
Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
The Mobile Phone House Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
2 |
Accounting policies (continued) |
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.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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 |
Plant and machinery |
25% straight line basis |
Fixtures and fittings |
25% straight line basis |
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.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
3. |
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
The Mobile Phone House Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
4. |
Tangible assets |
Fixtures and fittings |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2023 |
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At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
- |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
- |
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At 31 March 2023 |
- |
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5. |
Stocks |
31.03.24 |
31.03.23 |
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Stocks |
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1,400 |
6. |
Debtors |
Current |
31.03.24 |
31.03.23 |
Trade debtors |
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- |
Other debtors |
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The Mobile Phone House Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)
7. |
Creditors |
Creditors: amounts falling due within one year
31.03.24 |
31.03.23 |
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Due within one year |
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Trade creditors |
- |
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Accruals and deferred income |
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Other creditors |
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Included in other creditors is amount of £8,024 owed to the director on which no interest or repayment terms have been set.