Mobile Masters Limited 04995534 false 2023-03-28 2024-03-25 2024-03-25 The principal activity of the company is retail and repair electronic equipment. Digita Accounts Production Advanced 6.30.9574.0 true true 04995534 2023-03-28 2024-03-25 04995534 2024-03-25 04995534 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-03-25 04995534 core:CurrentFinancialInstruments 2024-03-25 04995534 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-25 04995534 core:Non-currentFinancialInstruments 2024-03-25 04995534 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-25 04995534 core:FurnitureFittingsToolsEquipment 2024-03-25 04995534 core:LandBuildings 2024-03-25 04995534 bus:SmallEntities 2023-03-28 2024-03-25 04995534 bus:AuditExemptWithAccountantsReport 2023-03-28 2024-03-25 04995534 bus:FilletedAccounts 2023-03-28 2024-03-25 04995534 bus:SmallCompaniesRegimeForAccounts 2023-03-28 2024-03-25 04995534 bus:RegisteredOffice 2023-03-28 2024-03-25 04995534 bus:Director2 2023-03-28 2024-03-25 04995534 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-28 2024-03-25 04995534 bus:PrivateLimitedCompanyLtd 2023-03-28 2024-03-25 04995534 core:FurnitureFittings 2023-03-28 2024-03-25 04995534 core:FurnitureFittingsToolsEquipment 2023-03-28 2024-03-25 04995534 core:LandBuildings 2023-03-28 2024-03-25 04995534 countries:EnglandWales 2023-03-28 2024-03-25 04995534 2023-03-27 04995534 core:FurnitureFittingsToolsEquipment 2023-03-27 04995534 core:LandBuildings 2023-03-27 04995534 2022-03-29 2023-03-27 04995534 2023-03-27 04995534 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-27 04995534 core:CurrentFinancialInstruments 2023-03-27 04995534 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-27 04995534 core:Non-currentFinancialInstruments 2023-03-27 04995534 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-27 04995534 core:FurnitureFittingsToolsEquipment 2023-03-27 04995534 core:LandBuildings 2023-03-27 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04995534

Mobile Masters Limited

Unaudited Filleted Financial Statements

for the Period from 28 March 2023 to 25 March 2024

 

Mobile Masters Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Mobile Masters Limited

(Registration number: 04995534)
Balance Sheet as at 25 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

131,198

133,257

Current assets

 

Stocks

42,835

42,835

Debtors

5

592

11,986

 

43,427

54,821

Creditors: Amounts falling due within one year

6

(121,612)

(111,791)

Net current liabilities

 

(78,185)

(56,970)

Total assets less current liabilities

 

53,013

76,287

Creditors: Amounts falling due after more than one year

6

(53,617)

(57,066)

Provisions for liabilities

(2,090)

(2,090)

Net (liabilities)/assets

 

(2,694)

17,131

Capital and reserves

 

Called up share capital

7

1

1

Revaluation reserve

25,817

25,817

Retained earnings

(28,512)

(8,687)

Shareholders' (deficit)/funds

 

(2,694)

17,131

For the financial period ending 25 March 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 period 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 and 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 5 June 2025 and signed on its behalf by:
 

.........................................
Mr J D Weston
Director

 

Mobile Masters Limited

Notes to the Unaudited Financial Statements for the Period from 28 March 2023 to 25 March 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:
5 Parker Lane
Burnley
Lancashire
BB11 2BY

These financial statements were authorised for issue by the Board on 5 June 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

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 current 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Mobile Masters Limited

Notes to the Unaudited Financial Statements for the Period from 28 March 2023 to 25 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

No depreciation

Fixtures, fittings and equipment

25% per annum reducing balance basis

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.

 

Mobile Masters Limited

Notes to the Unaudited Financial Statements for the Period from 28 March 2023 to 25 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 period, was 1 (2023 - 2).

4

Tangible assets

Land and buildings
£

Fixtures, fittings and equipment
£

Total
£

Cost

At 28 March 2023

125,000

54,209

179,209

At 25 March 2024

125,000

54,209

179,209

Depreciation

At 28 March 2023

-

45,952

45,952

Charge for the period

-

2,059

2,059

At 25 March 2024

-

48,011

48,011

Carrying amount

At 25 March 2024

125,000

6,198

131,198

At 27 March 2023

125,000

8,257

133,257

Included within the net book value of land and buildings above is £125,000 (2023 - £125,000) in respect of freehold land and buildings.
 

 

Mobile Masters Limited

Notes to the Unaudited Financial Statements for the Period from 28 March 2023 to 25 March 2024

5

Debtors

2024
£

2023
£

Trade debtors

-

11,394

Other debtors

592

592

592

11,986

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

81,673

70,814

Taxation and social security

 

208

1,246

Accruals and deferred income

 

1,200

1,200

Other creditors

 

38,531

38,531

 

121,612

111,791

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

53,617

57,066

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

53,617

57,066

 

Mobile Masters Limited

Notes to the Unaudited Financial Statements for the Period from 28 March 2023 to 25 March 2024

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,626

6,558

Bank overdrafts

3,958

3,848

Other borrowings

71,089

60,408

81,673

70,814