Company registration number 11532457 (England and Wales)
ONE ACCOUNT MOBILE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
ONE ACCOUNT MOBILE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ONE ACCOUNT MOBILE LTD
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
390,120
390,120
Tangible assets
4
3,494
9,107
393,614
399,227
Current assets
Debtors
5
115,894
541,005
Cash at bank and in hand
77,863
239,387
193,757
780,392
Creditors: amounts falling due within one year
6
(61,923)
(209,729)
Net current assets
131,834
570,663
Total assets less current liabilities
525,448
969,890
Creditors: amounts falling due after more than one year
7
(7,927,118)
(8,634,096)
Net liabilities
(7,401,670)
(7,664,206)
Capital and reserves
Called up share capital
8
990
990
Capital redemption reserve
10
10
Profit and loss reserves
(7,402,670)
(7,665,206)
Total equity
(7,401,670)
(7,664,206)

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

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his 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.

ONE ACCOUNT MOBILE LTD
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024
31 August 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 1 February 2025
Mr B Keirle
Director
Company registration number 11532457 (England and Wales)
ONE ACCOUNT MOBILE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information

One Account Mobile Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.

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

Not withstanding the net liability position at 31 trueAugust 2024, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This is based on the continued support of the director and other financing arrangements.

 

The director has considered relevant information, including the company’s principal risks and uncertainties, and the impact of subsequent events in making their assessment.

 

Based on these assessments and having regard to the resources available to the entity, despite the net liability position reported at the balance sheet date, the director has concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
Intangible fixed assets other than goodwill

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation 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:

Development costs
7 year straight line basis
ONE ACCOUNT MOBILE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
1.6
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.

Fixtures and fittings
5 year straight line basis
Computers
5 year straight line basis
1.7
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.

1.8
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.

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.

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.

1.9
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.

1.10
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.

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.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.12
Retirement benefits

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

ONE ACCOUNT MOBILE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 5 -
1.13
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.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

ONE ACCOUNT MOBILE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2023 - 9).

3
Intangible fixed assets
Development costs
£
Cost
At 1 September 2023 and 31 August 2024
635,078
Amortisation and impairment
At 1 September 2023 and 31 August 2024
244,958
Carrying amount
At 31 August 2024
390,120
At 31 August 2023
390,120
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 September 2023 and 31 August 2024
8,761
20,156
28,917
Depreciation and impairment
At 1 September 2023
7,008
12,802
19,810
Depreciation charged in the year
1,753
3,860
5,613
At 31 August 2024
8,761
16,662
25,423
Carrying amount
At 31 August 2024
-
0
3,494
3,494
At 31 August 2023
1,753
7,354
9,107
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
115,894
130,496
Amounts owed by group undertakings
-
0
8,408
Other debtors
-
0
402,101
115,894
541,005
ONE ACCOUNT MOBILE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
44,860
118,082
Taxation and social security
17,063
10,355
Other creditors
-
0
81,292
61,923
209,729
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
7,927,118
8,634,096
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
990
990
990
990
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