Company Registration No. 03455556 (England and Wales)
NATIONWIDE MOBILITY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
The Granary
Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
NATIONWIDE MOBILITY LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 7
NATIONWIDE MOBILITY LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr A. J. Lodge
Mr A. Lodge
Mr P. C. Morris
Secretary
Ms S. Radford
Company number
03455556
Registered office
Unit 13 Armstrong Mall
Southwood Business Park
Farnborough
Hampshire
GU14 0NR
Accountants
TC Group
The Granary
Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
NATIONWIDE MOBILITY LIMITED
BALANCE SHEET
- 2 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
122,886
123,654
Debtors
3
76,360
86,896
Cash at bank and in hand
545,241
565,073
744,487
775,623
Creditors: amounts falling due within one year
4
(487,211)
(604,516)
Net current assets
257,276
171,107
Capital and reserves
Called up share capital
2,000
2,000
Profit and loss reserves
255,276
169,107
Total equity
257,276
171,107
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 period ended 31 July 2024 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 period 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 22 November 2024 and are signed on its behalf by:
Mr A. Lodge
Director
Company Registration No. 03455556
The notes on pages 3 to 7 form part of these financial statements
NATIONWIDE MOBILITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information
Nationwide Mobility Limited (03455556) is a private company limited by shares incorporated in England and Wales. The registered office is Unit 13 Armstrong Mall, Southwood Business Park, Farnborough, Hampshire, GU14 0NR.
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
The company ceased trading on 31 July 2024 andtrue after period end the assets were hived-up into the parent company, Aquability (UK) Limited.
1.3
Reporting period
The financial statements prepared are for a 15-month period and therefore, the comparatives are not entirely comparable.
1.4
Turnover
Turnover represents amounts receivable for goods and services provided during the year in the normal course of business and is measured at the fair value of the consideration received net of trade discounts and VAT. Turnover is recognised to the extent that the company obtains the right to consideration in exchange for its performance and is recognised by reference to the stage of completion of the installation of the company's products.
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 service agreements are recognised over the term of the agreed service period. Any revenue for future services is deferred and held within Accruals and Deferred Income as at the year end.
1.5
Stocks
Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all materials and directly attributable costs incurred in bringing the stock to its current location and condition. Net realisable value is based on estimated selling price, less further costs expected to be incurred to completion.
NATIONWIDE MOBILITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.
1.7
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.
Basic financial liabilities
Basic financial liabilities, including creditors 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.
1.8
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.
NATIONWIDE MOBILITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
1.9
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 is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
NATIONWIDE MOBILITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
- 6 -
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,610
5,626
Other debtors
50,302
52,392
Prepayments and accrued income
22,448
28,878
76,360
86,896
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
216,781
129,245
Taxation and social security
30,119
41,174
Deferred income
71,836
81,692
Other creditors
161,609
335,537
Accruals
6,866
16,868
487,211
604,516
NATIONWIDE MOBILITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
- 7 -
5
Related party transactions
Transactions with related parties
During the period the company entered into the following transactions with related parties:
Sale of goods
Purchase of goods
2024
2023
2024
2023
£
£
£
£
Companies under common control
595,697
11,558
7,092
524,031
Management charges
2024
2023
£
£
Companies under common control
465,070
446,589
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts owed to related parties
£
£
Companies under common control
186,894
54,333