Greater Mobility Europe Limited 07283725 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is sale of motor vehicles and motor vehicles conversions Digita Accounts Production Advanced 6.30.9574.0 true false true 07283725 2023-10-01 2024-09-30 07283725 2024-09-30 07283725 core:RetainedEarningsAccumulatedLosses 2024-09-30 07283725 core:ShareCapital 2024-09-30 07283725 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-09-30 07283725 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 07283725 bus:SmallEntities 2023-10-01 2024-09-30 07283725 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 07283725 bus:FilletedAccounts 2023-10-01 2024-09-30 07283725 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 07283725 bus:RegisteredOffice 2023-10-01 2024-09-30 07283725 bus:CompanySecretaryDirector1 2023-10-01 2024-09-30 07283725 bus:Director1 2023-10-01 2024-09-30 07283725 bus:Director3 2023-10-01 2024-09-30 07283725 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07283725 1 2023-10-01 2024-09-30 07283725 countries:EnglandWales 2023-10-01 2024-09-30 07283725 2022-10-01 2023-09-30 07283725 2023-09-30 07283725 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 07283725

Greater Mobility Europe Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Greater Mobility Europe Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Greater Mobility Europe Limited

Company Information

Directors

DAW Vooght

N Collins

Mrs L G Vooght

Company secretary

N Collins

Registered office

Teign Valley
Trusham
Newton Abbot
Devon
TQ13 0NX

Accountants

M.J. Smith & Co Limited
Chartered Accountants
11 Yeo Business Park
Axehayes Farm
Clyst St. Mary
Exeter
Devon
EX5 1DP

 

Greater Mobility Europe Limited

(Registration number: 07283725)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

fixed assets

 

Other financial assets

5

765,000

705,000

Current assets

 

stocks

6

50,328

-

Debtors

7

62,267

49,075

Cash at bank and in hand

 

60,646

251,612

 

173,241

300,687

Creditors: Amounts falling due within one year

8

(51,227)

(204,303)

Net current assets

 

122,014

96,384

Net assets

 

887,014

801,384

capital and reserves

 

Called up share capital

100

100

Profit and loss account

886,914

801,284

Total equity

 

887,014

801,384

For the financial year ending 30 September 2024 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 11 April 2025 and signed on its behalf by:
 

.........................................
N Collins
Company secretary and director

 

Greater Mobility Europe Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
Teign Valley
Trusham
Newton Abbot
Devon
TQ13 0NX
United Kingdom

These financial statements were authorised for issue by the Board on 11 April 2025.

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 current 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.

 

Greater Mobility Europe Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

Investments

Other investments are valued at cost less impairment.

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Greater Mobility Europe Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Taxation on profits on ordinary activities

Note

2024
£

2023
 £

Tax reconciliation

 

UK corporation tax

 

25,772

34,647

 

Greater Mobility Europe Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2023

705,000

705,000

Additions

60,000

60,000

At 30 September 2024

765,000

765,000

Impairment

Carrying amount

At 30 September 2024

765,000

765,000

6

Stocks

2024
£

2023
£

Other inventories

50,328

-

7

Debtors

Current

2024
£

2023
£

Trade debtors

46,780

22,637

Other debtors

15,487

26,438

 

62,267

49,075

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

trade creditors

1,888

-

Accruals and deferred income

22,568

168,656

Other creditors

26,771

35,647

51,227

204,303

 

Greater Mobility Europe Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Parent and ultimate parent undertaking

The ultimate controlling party is the directors by virtue of their controlling shareholding in the company. The ultimate controlling party is the same as the controlling party..