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MOBILE XPERTS LTD

Registered Number
08253718
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

MOBILE XPERTS LTD
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

UMAR, Talal

Registered Address

12 Hope Street
Wrexham
LL11 1BG

Registered Number

08253718 (England and Wales)
MOBILE XPERTS LTD
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3252336
Investment property4138,108138,108
138,360138,444
Current assets
Stocks512,1645,308
Debtors6135-
Cash at bank and on hand19,28413,972
31,58319,280
Creditors amounts falling due within one year7(143,381)(125,810)
Net current assets (liabilities)(111,798)(106,530)
Total assets less current liabilities26,56231,914
Creditors amounts falling due after one year8(25,926)(31,483)
Provisions for liabilities9(48)(64)
Net assets588367
Capital and reserves
Called up share capital11
Profit and loss account587366
Shareholders' funds588367
The financial statements were approved and authorised for issue by the Director on 25 July 2025, and are signed on its behalf by:
UMAR, Talal
Director
Registered Company No. 08253718
MOBILE XPERTS LTD
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.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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:

Reducing balance (%)
Plant and machinery25
Office Equipment25
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
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.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 November 232048,2598,463
At 31 October 242048,2598,463
Depreciation and impairment
At 01 November 231228,0058,127
Charge for year216384
At 31 October 241438,0688,211
Net book value
At 31 October 2461191252
At 31 October 2382254336
4.Investment property

£
Fair value at 01 November 23138,108
At 31 October 24138,108
5.Stocks

2024

2023

££
Raw materials and consumables12,1645,308
Total12,1645,308
6.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income135-
Total135-
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables9281,078
Bank borrowings and overdrafts5,5565,556
Taxation and social security67,30349,427
Other creditors68,15568,314
Accrued liabilities and deferred income1,4391,435
Total143,381125,810
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts25,92631,483
Total25,92631,483
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4864
Total4864