Company registration number 08747630 (England and Wales)
MOBILE DIARY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
MOBILE DIARY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
MOBILE DIARY LTD
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 1 -
31 July 2024
31 March 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
402,052
369,614
Current assets
Debtors
4
1,078
1,145
Cash at bank and in hand
55,362
11,969
56,440
13,114
Creditors: amounts falling due within one year
5
(243,817)
(210,164)
Net current liabilities
(187,377)
(197,050)
Total assets less current liabilities
214,675
172,564
Creditors: amounts falling due after more than one year
6
(35,021)
Provisions for liabilities
(33,820)
(17,759)
Net assets
145,834
154,805
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
145,832
154,803
Total equity
145,834
154,805
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 members have 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.
MOBILE DIARY LTD
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024
31 July 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 March 2025 and are signed on its behalf by:
Mr S Rupra
Director
Company registration number 08747630 (England and Wales)
MOBILE DIARY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information
Mobile Diary Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Elthorne Gate, 64 High Street, Pinner, HA5 5QA.
1.1
Reporting period
The company has extended its accounting period from 31 March 2024 to 31 July 2024 to align its financial year with the parent company's. As a result, these financial statements cover a period of 16 months and therefore the comparative figures including the related notes may not be entirely comparable.
1.2
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.
1.3
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
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.
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.
1.5
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.
MOBILE DIARY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
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:
Freehold land and buildings
1% straight line
Plant and machinery
15% reducing balance
Fixtures and fittings
15% reducing balance
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.
1.6
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.
1.7
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 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
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.
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.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
MOBILE DIARY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
1.10
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.11
The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102,' The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
6
5
3
Tangible fixed assets
Freehold land and buildings
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 April 2023
278,935
220,277
499,212
Additions
61,362
4,325
65,687
At 31 July 2024
278,935
61,362
224,602
564,899
Depreciation and impairment
At 1 April 2023
2,789
126,809
129,598
Depreciation charged in the period
3,719
9,971
19,559
33,249
At 31 July 2024
6,508
9,971
146,368
162,847
Carrying amount
At 31 July 2024
272,427
51,391
78,234
402,052
At 31 March 2023
276,146
93,468
369,614
Included within the net book value of the above asset is £50,280 relating to assets held under hire purchase agreements. The depreciation charged in the year in respect of such assets amounted to £9,756.
MOBILE DIARY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
1,078
1,145
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
20,852
2,622
Amounts owed to group undertakings
191,054
119,885
Taxation and social security
12,551
16,887
Other creditors
19,360
70,770
243,817
210,164
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
35,021
7
Parent company
The ultimate parent company is Honeyfields Smile Ltd ("HSL"), a company incorporated in England and Wales.