Company Registration No. NI617144 (Northern Ireland)
MODERN NATURE LTD
Unaudited accounts
for the year ended 31 March 2023
MODERN NATURE LTD
Unaudited accounts
Contents
MODERN NATURE LTD
Company Information
for the year ended 31 March 2023
Directors
Vanessa Rollins
John Rollins
Timothy Jewitt
Amy Burns
Company Number
NI617144 (Northern Ireland)
Registered Office
7A BALLYMULLAN ROAD
CRAWFORDSBURN
BANGOR
COUNTY DOWN
BT19 1JG
MODERN NATURE LTD
Statement of financial position
as at 31 March 2023
Tangible assets
711
15,328
Cash at bank and in hand
9,425
173
Creditors: amounts falling due within one year
(86,649)
(143,100)
Net current liabilities
(39,379)
(105,072)
Total assets less current liabilities
(38,668)
(89,744)
Creditors: amounts falling due after more than one year
(248,006)
(159,540)
Provisions for liabilities
Other provisions
-
(3,066)
Net liabilities
(286,674)
(252,350)
Called up share capital
400
400
Share premium
139,944
139,944
Profit and loss account
(427,018)
(392,694)
Shareholders' funds
(286,674)
(252,350)
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2023 and were signed on its behalf by
Vanessa Rollins
Director
Company Registration No. NI617144
MODERN NATURE LTD
Notes to the Accounts
for the year ended 31 March 2023
MODERN NATURE LTD is a private company, limited by shares, registered in Northern Ireland, registration number NI617144. The registered office is 7A BALLYMULLAN ROAD, CRAWFORDSBURN, BANGOR, COUNTY DOWN, BT19 1JG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Fixtures & fittings
33% straight line
Computer equipment
20% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
MODERN NATURE LTD
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
55,047
8,994
21,834
85,875
At 31 March 2023
55,757
8,994
21,835
86,586
At 1 April 2022
45,478
8,898
16,171
70,547
Charge for the year
9,569
96
5,663
15,328
At 31 March 2023
55,047
8,994
21,834
85,875
At 31 March 2023
710
-
1
711
At 31 March 2022
9,569
96
5,663
15,328
Amounts falling due within one year
MODERN NATURE LTD
Notes to the Accounts
for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
25
49,913
Trade creditors
22,357
32,631
Taxes and social security
52,378
502
Loans from directors
13,875
52,046
8
Creditors: amounts falling due after more than one year
2023
2022
Loans from directors
184,000
144,000
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).