Mobile Gaming Studios Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 08324771 (England and Wales)

MOBILE GAMING STUDIOS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTORS:

Mr M I Sneap

Mr H D Binns

Mr M P Sneap

Mr T J Rogers

REGISTERED OFFICE:

Derby West Business Centre

Ashbourne Road

Mackworth

DERBY

DE22 4NB

REGISTERED NUMBER:

08324771 (England and Wales)

ACCOUNTANTS:

Johnson Tidsall Limited

Chartered Accountants

81 Burton Road

Derby

Derbyshire

DE1 1TJ

FIXED ASSETS

Tangible assets

2

88,474

51,490

CURRENT ASSETS

Debtors

769,274

410,541

Cash at bank and in hand

18,296

133,158

787,570

543,699

CREDITORS

Amounts falling due within one year

322,834

734,559

NET CURRENT ASSETS/(LIABILITIES)

464,736

(190,860

)

TOTAL ASSETS LESS CURRENT LIABILITIES

553,210

(139,370

)

CREDITORS

Amounts falling due after more than one year

208,889

-

NET ASSETS/(LIABILITIES)

344,321

(139,370

)

CAPITAL AND RESERVES

Called up share capital

3

1,459,705

2,221

Profit and loss account

(1,115,384

)

(141,591

)

SHAREHOLDERS' FUNDS

344,321

(139,370

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 2 April 2015 and were signed on its behalf by:

Mr H D Binns - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors consider it appropriate to prepare the financial statements on a going concern basis as

a result of continued forward planning showing positive future cashflows.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Deferred tax

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

the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument

is any contract that evidences a residual interest in the assets of the company after deducting all of

its liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

64,363

Additions

59,468

At 31 December 2014

123,831

DEPRECIATION

At 1 January 2014

12,873

Charge for year

22,484

At 31 December 2014

35,357

NET BOOK VALUE

At 31 December 2014

88,474

At 31 December 2013

51,490

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

288,096

Ordinary

1p

1,459,596

2,112

10,880

Deferred

1p

109

109

1,459,705

2,221

The following shares were issued during the period for cash at par:

211,156 Ordinary shares of 1p

10,800 Deferred shares of 1p