Independence Mobility Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC261805

INDEPENDENCE MOBILITY LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 January 2025

INDEPENDENCE MOBILITY LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 JANUARY 2025

CONTENTS	PAGES

Statement of financial position	1 to 2

Notes to the financial statements	3 to 6

INDEPENDENCE MOBILITY LIMITED

STATEMENT OF FINANCIAL POSITION

30 January 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	6		152,775		169,055

CURRENT ASSETS

Stocks		38,066	61,449
Debtors	7	269,335	286,216
Cash at bank and in hand		231,163	126,485
		---------	---------
		538,564	474,150

CREDITORS: amounts falling due within one year	8	( 354,391)		( 305,691)
		---------		---------
NET CURRENT ASSETS			184,173		168,459
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			336,948		337,514

CREDITORS: amounts falling due after more than one year	9		( 135,032)		( 41,139)

PROVISIONS

Taxation including deferred tax	( 38,194)	( 42,264)
	---------	---------
NET ASSETS	163,722	254,111
	---------	---------

CAPITAL AND RESERVES

Called up share capital	2	2
Profit and loss account	163,720	254,109
	---------	---------
SHAREHOLDERS FUNDS	163,722	254,111
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 January 2025 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

INDEPENDENCE MOBILITY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 January 2025

These financial statements were approved by the board of directors and authorised for issue on 19 September 2025 , and are signed on behalf of the board by:

C M Mitchell

Director

Company registration number: SC261805

INDEPENDENCE MOBILITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 JANUARY 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Summit House, 4-5 Mitchell Street, Edinburgh, EH6 7BD.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Fixtures, fittings and equipment	-	25% reducing balance
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 17 (2024: 17 ).

5. TAX ON PROFIT

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	20,097	29,168
Adjustments in respect of prior periods	–	( 487)
Corporation tax refund	( 11,929)	–
	--------	--------
Total current tax	8,168	28,681
	--------	--------

Deferred tax:

Origination and reversal of timing differences	( 4,070)	17,029
	-------	--------
Tax on profit	4,098	45,710
	-------	--------

6. TANGIBLE ASSETS

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 31 January 2024	107,091	82,888	204,320	394,299
Additions	–	3,621	27,100	30,721
	---------	--------	---------	---------
At 30 January 2025	107,091	86,509	231,420	425,020
	---------	--------	---------	---------
Depreciation
At 31 January 2024	77,619	49,583	98,042	225,244
Charge for the year	4,422	9,233	33,346	47,001
	---------	--------	---------	---------
At 30 January 2025	82,041	58,816	131,388	272,245
	---------	--------	---------	---------
Carrying amount
At 30 January 2025	25,050	27,693	100,032	152,775
	---------	--------	---------	---------
At 30 January 2024	29,472	33,305	106,278	169,055
	---------	--------	---------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 30 January 2025	50,415
	--------
At 30 January 2024	67,480
	--------

7. DEBTORS

	2025	2024
	£	£
Trade debtors	172,503	201,779
Other debtors	96,832	84,437
	---------	---------
	269,335	286,216
	---------	---------

8. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	18,921	–
Trade creditors	269,626	238,209
Corporation tax	20,097	29,168
Social security and other taxes	8,841	5,896
Other creditors	36,906	32,418
	---------	---------
	354,391	305,691
	---------	---------

9. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	119,731	–
Other creditors	15,301	41,139
	---------	--------
	135,032	41,139
	---------	--------