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Registration number: 04590052

Mobile Mechanic Services Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2024

Mobile Mechanic Services Limited

Contents

Balance Sheet | 1
Notes to the Financial Statements | 2 to 6

Mobile Mechanic Services Limited

(Registration number: 04590052)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 5,619 | 3,394
Current assets |  |  |
Stocks | 5 | 7,825 | 7,122
Debtors | 6 | 13,698 | 9,767
Cash at bank and in hand |  | 2,486 | 6,594
|  | 24,009 | 23,483
Creditors: Amounts falling due within one year | 7 | (50,758) | (52,604)
Net current liabilities |  | (26,749) | (29,121)
Total assets less current liabilities |  | (21,130) | (25,727)
Creditors: Amounts falling due after more than one year | 7 | (1,323) | (4,444)
Net liabilities |  | (22,453) | (30,171)
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | (22,553) | (30,271)
Shareholders' deficit |  | (22,453) | (30,171)

For the financial year ending 31 December 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 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 14 May 2025 and signed on its behalf by:

......................................... A M Doel Director

Mobile Mechanic Services Limited

Notes to the Financial Statements for the Year Ended 31 December 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:
7a King Street
Frome
Somerset
BA11 1BH

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Mobile Mechanic Services Limited

Notes to the Financial Statements for the Year Ended 31 December 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
Tools and equipment | 25% reducing balance
Motor vehicles | 25% reducing balance

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 Mechanic Services Limited

Notes to the Financial Statements for the Year Ended 31 December 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

Mobile Mechanic Services Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 January 2024 | 21,927 | 2,600 | 24,527
Additions | - | 4,100 | 4,100
At 31 December 2024 | 21,927 | 6,700 | 28,627
Depreciation
At 1 January 2024 | 19,165 | 1,968 | 21,133
Charge for the year | 691 | 1,184 | 1,875
At 31 December 2024 | 19,856 | 3,152 | 23,008
Net book value
At 31 December 2024 | 2,071 | 3,548 | 5,619
At 31 December 2023 | 2,762 | 632 | 3,394

5 | Stocks

| 2024 £ | 2023 £
Stock | 7,825 | 7,122

6 | Debtors

| 2024 £ | 2023 £
Trade debtors | 13,598 | 9,767
Prepayments | 100 | -
| 13,698 | 9,767

Mobile Mechanic Services Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

7 | Creditors

Amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Loans and borrowings | 8 | 3,121 | 3,045
Trade creditors |  | 6,255 | 6,086
Taxation and social security |  | 22,341 | 30,069
Accruals and deferred income |  | 2,540 | 2,760
Other creditors |  | 16,501 | 10,644
|  | 50,758 | 52,604

Amounts falling due after more than one year

| Note | 2024 £ | 2023 £
Due after one year |  |  |
Loans and borrowings | 8 | 1,323 | 4,444

8 | Loans and borrowings

Non-current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 1,323 | 4,444

Current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 3,121 | 3,045