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MT MOBILITY LIMITED

Registered Number
07051407
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

MT MOBILITY LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

A L Carr - appointed 27.01.2025
G D G Carr
M Lashbrook

Registered Address

More Than Mobility, 139 Cornwall Street
Plymouth
PL1 1PA

Registered Number

07051407 (England and Wales)
MT MOBILITY LIMITED
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets434,80822,995
34,80822,995
Current assets
Stocks548,80054,000
Debtors31,08521,668
Cash at bank and on hand75,148163,923
155,033239,591
Creditors amounts falling due within one year6(140,702)(118,922)
Net current assets (liabilities)14,331120,669
Total assets less current liabilities49,139143,664
Creditors amounts falling due after one year7(13,923)(138,690)
Net assets35,2164,974
Capital and reserves
Called up share capital100,000100,000
Profit and loss account(64,784)(95,026)
Shareholders' funds35,2164,974
The financial statements were approved and authorised for issue by the Board of Directors on 21 July 2025, and are signed on its behalf by:
G D G Carr
Director
Registered Company No. 07051407
MT MOBILITY LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Functional and presentation currency
The financial statements are presented in £ sterling.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the asset on a straight line basis over their estimated useful economic lives, which is estimated to be ten years.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Fixtures and fittings4
Vehicles4
Office Equipment4
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Share capital
Allotted, called up and fully paid: 100,000 Ordinary shares of £1 each (2023: 100,000 Ordinary shares of £1 each).
2.Average number of employees

20242023
Average number of employees during the year66
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 November 23415,000415,000
At 31 October 24415,000415,000
Amortisation and impairment
At 01 November 23415,000415,000
At 31 October 24415,000415,000
Net book value
At 31 October 24--
At 31 October 23--
4.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 November 2327,99513,1471,89743,039
Additions18,500--18,500
At 31 October 2446,49513,1471,89761,539
Depreciation and impairment
At 01 November 235,00013,1471,89720,044
Charge for year6,687--6,687
At 31 October 2411,68713,1471,89726,731
Net book value
At 31 October 2434,808--34,808
At 31 October 2322,995--22,995
5.Stocks

2024

2023

££
Finished goods48,80054,000
Total48,80054,000
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables43,99339,747
Bank borrowings and overdrafts10,4166
Taxation and social security11,5018,871
Other creditors74,79270,298
Total140,702118,922
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts13,92334,136
Other creditors-104,554
Total13,923138,690