2023-01-012023-12-312023-12-31false08819945MODATEK LTD2024-03-19iso4217:GBPxbrli:pure088199452023-01-01088199452023-12-31088199452023-01-012023-12-31088199452022-01-01088199452022-12-31088199452022-01-012022-12-3108819945bus:SmallEntities2023-01-012023-12-3108819945bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3108819945bus:FullAccounts2023-01-012023-12-3108819945bus:PrivateLimitedCompanyLtd2023-01-012023-12-3108819945core:WithinOneYear2023-12-3108819945core:AfterOneYear2023-12-3108819945core:WithinOneYear2022-12-3108819945core:AfterOneYear2022-12-3108819945core:ShareCapital2023-12-3108819945core:SharePremium2023-12-3108819945core:RevaluationReserve2023-12-3108819945core:OtherReservesSubtotal2023-12-3108819945core:RetainedEarningsAccumulatedLosses2023-12-3108819945core:ShareCapital2022-12-3108819945core:SharePremium2022-12-3108819945core:RevaluationReserve2022-12-3108819945core:OtherReservesSubtotal2022-12-3108819945core:RetainedEarningsAccumulatedLosses2022-12-3108819945core:LandBuildings2023-12-3108819945core:PlantMachinery2023-12-3108819945core:Vehicles2023-12-3108819945core:FurnitureFittings2023-12-3108819945core:OfficeEquipment2023-12-3108819945core:NetGoodwill2023-12-3108819945core:IntangibleAssetsOtherThanGoodwill2023-12-3108819945core:ListedExchangeTraded2023-12-3108819945core:UnlistedNon-exchangeTraded2023-12-3108819945core:LandBuildings2022-12-3108819945core:PlantMachinery2022-12-3108819945core:Vehicles2022-12-3108819945core:FurnitureFittings2022-12-3108819945core:OfficeEquipment2022-12-3108819945core:NetGoodwill2022-12-3108819945core:IntangibleAssetsOtherThanGoodwill2022-12-3108819945core:ListedExchangeTraded2022-12-3108819945core:UnlistedNon-exchangeTraded2022-12-3108819945core:LandBuildings2023-01-012023-12-3108819945core:PlantMachinery2023-01-012023-12-3108819945core:Vehicles2023-01-012023-12-3108819945core:FurnitureFittings2023-01-012023-12-3108819945core:OfficeEquipment2023-01-012023-12-3108819945core:NetGoodwill2023-01-012023-12-3108819945core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3108819945core:ListedExchangeTraded2023-01-012023-12-3108819945core:UnlistedNon-exchangeTraded2023-01-012023-12-3108819945core:MoreThanFiveYears2023-01-012023-12-3108819945core:Non-currentFinancialInstruments2023-12-3108819945core:Non-currentFinancialInstruments2022-12-3108819945dpl:CostSales2023-01-012023-12-3108819945dpl:DistributionCosts2023-01-012023-12-3108819945core:LandBuildings2023-01-012023-12-3108819945core:PlantMachinery2023-01-012023-12-3108819945core:Vehicles2023-01-012023-12-3108819945core:FurnitureFittings2023-01-012023-12-3108819945core:OfficeEquipment2023-01-012023-12-3108819945dpl:AdministrativeExpenses2023-01-012023-12-3108819945core:NetGoodwill2023-01-012023-12-3108819945core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3108819945dpl:GroupUndertakings2023-01-012023-12-3108819945dpl:ParticipatingInterests2023-01-012023-12-3108819945dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3108819945core:ListedExchangeTraded2023-01-012023-12-3108819945dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3108819945core:UnlistedNon-exchangeTraded2023-01-012023-12-3108819945dpl:CostSales2022-01-012022-12-3108819945dpl:DistributionCosts2022-01-012022-12-3108819945core:LandBuildings2022-01-012022-12-3108819945core:PlantMachinery2022-01-012022-12-3108819945core:Vehicles2022-01-012022-12-3108819945core:FurnitureFittings2022-01-012022-12-3108819945core:OfficeEquipment2022-01-012022-12-3108819945dpl:AdministrativeExpenses2022-01-012022-12-3108819945core:NetGoodwill2022-01-012022-12-3108819945core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3108819945dpl:GroupUndertakings2022-01-012022-12-3108819945dpl:ParticipatingInterests2022-01-012022-12-3108819945dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3108819945core:ListedExchangeTraded2022-01-012022-12-3108819945dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3108819945core:UnlistedNon-exchangeTraded2022-01-012022-12-3108819945core:NetGoodwill2023-12-3108819945core:IntangibleAssetsOtherThanGoodwill2023-12-3108819945core:LandBuildings2023-12-3108819945core:PlantMachinery2023-12-3108819945core:Vehicles2023-12-3108819945core:FurnitureFittings2023-12-3108819945core:OfficeEquipment2023-12-3108819945core:AfterOneYear2023-12-3108819945core:WithinOneYear2023-12-3108819945core:ListedExchangeTraded2023-12-3108819945core:UnlistedNon-exchangeTraded2023-12-3108819945core:ShareCapital2023-12-3108819945core:SharePremium2023-12-3108819945core:RevaluationReserve2023-12-3108819945core:OtherReservesSubtotal2023-12-3108819945core:RetainedEarningsAccumulatedLosses2023-12-3108819945core:NetGoodwill2022-12-3108819945core:IntangibleAssetsOtherThanGoodwill2022-12-3108819945core:LandBuildings2022-12-3108819945core:PlantMachinery2022-12-3108819945core:Vehicles2022-12-3108819945core:FurnitureFittings2022-12-3108819945core:OfficeEquipment2022-12-3108819945core:AfterOneYear2022-12-3108819945core:WithinOneYear2022-12-3108819945core:ListedExchange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MODATEK LTD

Registered Number
08819945
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

MODATEK LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

GRANT, Diana Danielle
GRANT, Matthew Robert

Registered Address

25 Hawkstone Close
Duston
Northampton
NN5 6RZ

Registered Number

08819945 (England and Wales)
MODATEK LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets39151,689
9151,689
Current assets
Stocks410,4669,337
Debtors512,1266,161
Cash at bank and on hand26,79429,119
49,38644,617
Creditors amounts falling due within one year6(41,702)(40,111)
Net current assets (liabilities)7,6844,506
Total assets less current liabilities8,5996,195
Provisions for liabilities7(174)(321)
Net assets8,4255,874
Capital and reserves
Called up share capital100100
Profit and loss account8,3255,774
Shareholders' funds8,4255,874
The financial statements were approved and authorised for issue by the Board of Directors on 19 March 2024, and are signed on its behalf by:
GRANT, Matthew Robert
Director
Registered Company No. 08819945
MODATEK LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 January 23-3,7573,757
At 31 December 23-3,7573,757
Depreciation and impairment
At 01 January 232,068-2,068
Charge for year774-774
At 31 December 232,842-2,842
Net book value
At 31 December 23(2,842)3,757915
At 31 December 22(2,068)3,7571,689
4.Stocks

2023

2022

££
Finished goods10,4669,337
Total10,4669,337
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables10,2185,758
Prepayments and accrued income1,908403
Total12,1266,161
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables7,98717,310
Taxation and social security33,41522,533
Other creditors300268
Total41,70240,111
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)174321
Total174321