10 false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2021 - FRS102_2021 499 100 50 150 349 399 4,212 459 3,753 xbrli:pure xbrli:shares iso4217:GBP 04975255 2022-02-01 2023-01-31 04975255 2023-01-31 04975255 2022-01-31 04975255 2021-02-01 2022-01-31 04975255 2022-01-31 04975255 core:NetGoodwill 2022-02-01 2023-01-31 04975255 core:LandBuildings core:LongLeaseholdAssets 2022-02-01 2023-01-31 04975255 core:PlantMachinery 2022-02-01 2023-01-31 04975255 core:MotorVehicles 2022-02-01 2023-01-31 04975255 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 04975255 bus:OrdinaryShareClass2 2022-02-01 2023-01-31 04975255 bus:Director1 2022-02-01 2023-01-31 04975255 core:WithinOneYear 2023-01-31 04975255 core:WithinOneYear 2022-01-31 04975255 core:NetGoodwill 2022-01-31 04975255 core:NetGoodwill 2023-01-31 04975255 core:LandBuildings core:LongLeaseholdAssets 2022-01-31 04975255 core:PlantMachinery 2022-01-31 04975255 core:MotorVehicles 2022-01-31 04975255 core:LandBuildings core:LongLeaseholdAssets 2023-01-31 04975255 core:PlantMachinery 2023-01-31 04975255 core:MotorVehicles 2023-01-31 04975255 core:ShareCapital 2023-01-31 04975255 core:ShareCapital 2022-01-31 04975255 core:RetainedEarningsAccumulatedLosses 2023-01-31 04975255 core:RetainedEarningsAccumulatedLosses 2022-01-31 04975255 core:BetweenOneFiveYears 2022-01-31 04975255 core:DeferredTaxation 2022-02-01 2023-01-31 04975255 core:NetGoodwill 2022-01-31 04975255 core:AcceleratedTaxDepreciationDeferredTax 2023-01-31 04975255 core:AcceleratedTaxDepreciationDeferredTax 2022-01-31 04975255 core:PlantMachinery 2022-01-31 04975255 core:MotorVehicles 2022-01-31 04975255 core:DeferredTaxation 2022-01-31 04975255 core:DeferredTaxation 2023-01-31 04975255 bus:SmallEntities 2022-02-01 2023-01-31 04975255 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 04975255 bus:FullAccounts 2022-02-01 2023-01-31 04975255 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 04975255 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 04975255 bus:OrdinaryShareClass1 2023-01-31 04975255 bus:OrdinaryShareClass1 2022-01-31 04975255 bus:OrdinaryShareClass2 2023-01-31 04975255 bus:OrdinaryShareClass2 2022-01-31 04975255 bus:AllOrdinaryShares 2023-01-31 04975255 bus:AllOrdinaryShares 2022-01-31 04975255 core:OfficeEquipment 2022-02-01 2023-01-31 04975255 core:OfficeEquipment 2022-01-31 04975255 core:OfficeEquipment 2023-01-31
COMPANY REGISTRATION NUMBER: 04975255
MODERNA MOTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 January 2023
MODERNA MOTS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 6
MODERNA MOTS LIMITED
BALANCE SHEET
31 January 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
349
399
Tangible assets
6
31,787
42,430
------------
------------
32,136
42,829
Current assets
Stocks
7
4,500
4,000
Debtors
8
17,341
16,871
Cash at bank and in hand
62,573
51,280
------------
------------
84,414
72,151
Creditors: amounts falling due within one year
9
( 86,306)
( 64,642)
------------
------------
Net current (liabilities)/assets
( 1,892)
7,509
------------
------------
Total assets less current liabilities
30,244
50,338
Provisions
10
( 3,753)
( 4,212)
------------
------------
Net assets
26,491
46,126
------------
------------
Capital and reserves
Called up share capital
12
100
100
Profit and loss account
26,391
46,026
------------
------------
Shareholders funds
26,491
46,126
------------
------------
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 profit and loss account has not been delivered.
For the year ending 31 January 2023 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 .
These financial statements were approved by the board of directors and authorised for issue on 15 August 2023 , and are signed on behalf of the board by:
A N Watts Director
Company registration number: 04975255
MODERNA MOTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.
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.
Turnover
The turnover is shown in the profit and loss account represents amounts invoiced for goods and services provided during the year, exclusive of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Private registration plate
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initally recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Leasehold improvements
-
5% straight line
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
25% reducing balance
In the year of acquisition tangible fixed assets are depreciated from 1 February.
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 10 ).
5. Intangible assets
Private registration plate
£
Cost
At 1 February 2022 and 31 January 2023
499
------------
Amortisation
At 1 February 2022
100
Charge for the year
50
------------
At 31 January 2023
150
------------
Carrying amount
At 31 January 2023
349
------------
At 31 January 2022
399
------------
6. Tangible assets
Leasehold improvements
Plant and machinery
Motor vehicles
Office equipment
Total
£
£
£
£
£
Cost
At 1 February 2022
22,622
106,620
32,615
14,290
176,147
Additions
5,486
5,486
Disposals
( 11,600)
( 11,600)
------------
------------
------------
------------
------------
At 31 January 2023
22,622
112,106
21,015
14,290
170,033
------------
------------
------------
------------
------------
Depreciation
At 1 February 2022
22,622
80,844
18,911
11,340
133,717
Charge for the year
7,816
2,042
737
10,595
Disposals
( 6,066)
( 6,066)
------------
------------
------------
------------
------------
At 31 January 2023
22,622
88,660
14,887
12,077
138,246
------------
------------
------------
------------
------------
Carrying amount
At 31 January 2023
23,446
6,128
2,213
31,787
------------
------------
------------
------------
------------
At 31 January 2022
25,776
13,704
2,950
42,430
------------
------------
------------
------------
------------
7. Stocks
2023
2022
£
£
Raw materials and consumables
4,500
4,000
------------
------------
8. Debtors
2023
2022
£
£
Trade debtors
11,261
12,861
Prepayments and accrued income
4,080
4,010
Other debtors
2,000
------------
------------
17,341
16,871
------------
------------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loan
11,689
Trade creditors
20,849
17,008
Amounts owed to group undertakings
30,049
109
Accruals and deferred income
4,803
8,425
Corporation tax
22,331
21,453
Social security and other taxes
7,574
5,258
Other creditors
700
700
------------
------------
86,306
64,642
------------
------------
10. Provisions
Deferred tax (note 11)
£
At 1 February 2022
4,212
Charge against provision
( 459)
------------
At 31 January 2023
3,753
------------
11. Deferred tax
The deferred tax included in the balance sheet is as follows:
2023
2022
£
£
Included in provisions (note 10)
3,753
4,212
------------
------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
3,753
4,212
------------
------------
12. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
50
50
50
50
'A' ordinary shares of £ 1 each
50
50
50
50
------------
------------
------------
------------
100
100
100
100
------------
------------
------------
------------
13. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
1,400
16,800
Later than 1 year and not later than 5 years
1,400
------------
------------
1,400
18,200
------------
------------
14. Related party transactions
Other creditors of £700 is a loan of £700 (2022: £700) due to a relative of the directors of the company. During the year a vehicle was sold to one of the directors at its estimated market value.
15. Parent company
The company is a wholly owned subsidiary of Moderna MOTs Property Holdings Limited.