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Mobilesilver.co.uk Ltd
Registered Number:08038181
For the year ended 31 May 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 May 2024
Mobilesilver.co.uk Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
08038181
As at 31 May 2024
Mobilesilver.co.uk Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
32,144
45,000
2
32,144
45,000
Current assets
Inventories
46,558
202,688
3
Trade and other receivables
396,363
1,206,446
4
2,634,904
Cash and cash equivalents
2,544,139
3,953,273
3,077,825
Trade and other payables: amounts falling due within one
year
(1,199,636)
(1,440,041)
5
1,878,189
2,513,232
Net current assets
Total assets less current liabilities
2,545,376
1,923,189
(7,998)
(11,204)
Provisions for liabilities
2,537,378
Net assets
1,911,985
Capital and reserves
Called up share capital
111
101
Retained earnings
2,537,267
1,911,884
2,537,378
1,911,985
Shareholders' funds
For the year ended 31 May 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mohsin Mustak Patel Director
These financial statements were approved and authorised for issue by the Board on 29 May 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 May 2024
Mobilesilver.co.uk Ltd
Notes to the Financial Statements
Statutory Information
Mobilesilver.co.uk Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 08038181.
Registered address:
Office 17 Egyptian Mill
Egyptian Street
Bolton
Lancashire
BL1 2HS
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25 Straight line
Computer equipment
20 Straight line
Motor vehicles
20 Straight line
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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5
For the year ended 31 May 2024
Mobilesilver.co.uk Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Motor vehicles
£
£
£
£
Cost or
valuation
At 01 June 2023
80,436
8,302
1,446
70,688
2,980
2,980
-
-
Additions
At 31 May 2024
70,688
1,446
11,282
83,416
Provision for depreciation and impairment
At 01 June 2023
35,436
6,583
579
28,274
Charge for year
15,836
1,409
289
14,138
At 31 May 2024
51,272
7,992
868
42,412
At 31 May 2024
Net book value
28,276
578
3,290
32,144
At 31 May 2023
42,414
867
1,719
45,000
3. Inventories
2023
2024
£
£
Stocks
202,688
46,558
4. Trade and other receivables
2023
2024
£
£
Trade debtors
220,046
147,955
Other debtors
986,400
248,408
396,363
1,206,446
The debtors above include the following amounts falling due after more than one year:
Other debtors
180,000
-
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6
For the year ended 31 May 2024
Mobilesilver.co.uk Ltd
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
87,393
117,403
Trade creditors
611,212
448,649
Taxation and social security
340,995
343,621
Other creditors
400,441
289,963
1,440,041
1,199,636
6. Average number of persons employed
During the year the average number of employees was 11 (2023 : 14)
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