IRIS Accounts Production v23.1.5.20 00598470 director 1.4.22 31.3.23 31.3.23 false true false false true false Ordinary "A" 1.00000 Ordinary "B" 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure005984702022-03-31005984702023-03-31005984702022-04-012023-03-31005984702021-03-31005984702021-04-012022-03-31005984702022-03-3100598470ns16:EnglandWales2022-04-012023-03-3100598470ns15:PoundSterling2022-04-012023-03-3100598470ns11:Director12022-04-012023-03-3100598470ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3100598470ns11:SmallEntities2022-04-012023-03-3100598470ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3100598470ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3100598470ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3100598470ns11:FullAccounts2022-04-012023-03-3100598470ns11:OrdinaryShareClass12022-04-012023-03-3100598470ns11:OrdinaryShareClass22022-04-012023-03-3100598470ns11:CompanySecretary12022-04-012023-03-3100598470ns11:RegisteredOffice2022-04-012023-03-3100598470ns6:CurrentFinancialInstruments2023-03-3100598470ns6:CurrentFinancialInstruments2022-03-3100598470ns6:ShareCapital2023-03-3100598470ns6:ShareCapital2022-03-3100598470ns6:SharePremium2023-03-3100598470ns6:SharePremium2022-03-3100598470ns6:CapitalRedemptionReserve2023-03-3100598470ns6:CapitalRedemptionReserve2022-03-3100598470ns6:FurtherSpecificReserve3ComponentTotalEquity2023-03-3100598470ns6:FurtherSpecificReserve3ComponentTotalEquity2022-03-3100598470ns6:RetainedEarningsAccumulatedLosses2023-03-3100598470ns6:RetainedEarningsAccumulatedLosses2022-03-3100598470ns6:PlantMachinery2022-04-012023-03-3100598470ns6:PlantMachinery2022-03-3100598470ns6:PlantMachinery2023-03-3100598470ns6:PlantMachinery2022-03-3100598470ns6:CostValuation2022-03-3100598470ns6:TransfersBetweenInvestmentClassesIncreaseDecreaseInInvestments2023-03-3100598470ns6:CostValuation2023-03-3100598470ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3100598470ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3100598470ns6:WithinOneYear2023-03-3100598470ns6:WithinOneYear2022-03-3100598470ns6:DeferredTaxation2022-03-3100598470ns6:DeferredTaxation2022-04-012023-03-3100598470ns6:DeferredTaxation2023-03-3100598470ns11:OrdinaryShareClass12023-03-3100598470ns11:OrdinaryShareClass22023-03-3100598470ns6:FurtherSpecificReserve3ComponentTotalEquity2022-03-31
REGISTERED NUMBER: 00598470 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

MODERN AIDS LIMITED

MODERN AIDS LIMITED (REGISTERED NUMBER: 00598470)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


MODERN AIDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr S P Williams





SECRETARY: Mrs Y C Williams





REGISTERED OFFICE: 91-93 London Road
Hazel Grove
Stockport
Cheshire
SK7 4AX





REGISTERED NUMBER: 00598470 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

MODERN AIDS LIMITED (REGISTERED NUMBER: 00598470)

BALANCE SHEET
31 MARCH 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,105 7,131
Investments 5 30,636 28,780
37,741 35,911

CURRENT ASSETS
Stocks 36,687 39,265
Debtors 6 30,003 23,565
Cash at bank and in hand 102,194 89,281
168,884 152,111
CREDITORS
Amounts falling due within one year 7 131,042 102,478
NET CURRENT ASSETS 37,842 49,633
TOTAL ASSETS LESS CURRENT
LIABILITIES

75,583

85,544

PROVISIONS FOR LIABILITIES 9 6,704 6,357
NET ASSETS 68,879 79,187

CAPITAL AND RESERVES
Called up share capital 10 5,439 5,439
Share premium 10,394 10,394
Capital redemption reserve 3,645 3,645
Fair value reserve 11 23,891 22,388
Retained earnings 25,510 37,321
SHAREHOLDERS' FUNDS 68,879 79,187

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MODERN AIDS LIMITED (REGISTERED NUMBER: 00598470)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 July 2023 and were signed by:





Mr S P Williams - Director


MODERN AIDS LIMITED (REGISTERED NUMBER: 00598470)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Modern Aids Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

Government grants
Grants and other contributions are accounted for on an accruals basis and recognised in the accounting statements when the conditions for their receipt have been complied with and there is reasonable assurance that the grant or contribution will be received

MODERN AIDS LIMITED (REGISTERED NUMBER: 00598470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 29,275
DEPRECIATION
At 1 April 2022 22,144
Charge for year 26
At 31 March 2023 22,170
NET BOOK VALUE
At 31 March 2023 7,105
At 31 March 2022 7,131

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2022 28,780
Reclassification/transfer 1,856
At 31 March 2023 30,636
NET BOOK VALUE
At 31 March 2023 30,636
At 31 March 2022 28,780

Cost or valuation at 31 March 2023 is represented by:

Other
investments
£   
Valuation in 2017 20,881
Valuation in 2018 1,190
Valuation in 2019 301
Valuation in 2020 1,860
Valuation in 2021 1,753
Valuation in 2022 1,405
Valuation in 2023 1,856
Cost 1,390
30,636

MODERN AIDS LIMITED (REGISTERED NUMBER: 00598470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 14,181 10,392
Other debtors 15,822 13,173
30,003 23,565

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade creditors 60,011 39,884
Taxation and social security 21,762 20,317
Other creditors 49,269 42,277
131,042 102,478

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/3/23 31/3/22
£    £   
Within one year - 560

9. PROVISIONS FOR LIABILITIES
31/3/23 31/3/22
£    £   
Deferred tax
CA's in excess of depreciation 6,704 6,357

Deferred
tax
£   
Balance at 1 April 2022 6,357
Charge to Income Statement during year 347
Balance at 31 March 2023 6,704

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/23 31/3/22
value: £    £   
3,151 Ordinary "A" £1 3,151 3,151
2,288 Ordinary "B" £1 2,288 2,288
5,439 5,439

MODERN AIDS LIMITED (REGISTERED NUMBER: 00598470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

11. RESERVES
Fair
value
reserve
£   
At 1 April 2022 22,388
Reserve transfer 1,503

At 31 March 2023 23,891