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REGISTERED NUMBER: 11919832 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MODUFLOW INVESTMENTS LIMITED

MODUFLOW INVESTMENTS LIMITED (REGISTERED NUMBER: 11919832)






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




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


MODUFLOW INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr A L Walton
Mr A M Wood
Mr L Russo





REGISTERED OFFICE: Scarth Road
Sowerby Woods Industrial Estate
Barrow in Furness
Cumbria
LA14 4RF





REGISTERED NUMBER: 11919832 (England and Wales)





ACCOUNTANTS: R F Miller & Co
Double Tree Court
10A Cavendish St
Ulverston
Cumbria
LA12 7AD

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MODUFLOW INVESTMENTS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.

You have acknowledged on the balance sheet as at 31 December 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






R F Miller & Co
Double Tree Court
10A Cavendish St
Ulverston
Cumbria
LA12 7AD


6 August 2024

MODUFLOW INVESTMENTS LIMITED (REGISTERED NUMBER: 11919832)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 4,645
Investments 5 819,080 819,080
819,080 823,725

CURRENT ASSETS
Debtors 6 30,777 9,576
Cash at bank 3,864 3,025
34,641 12,601
CREDITORS
Amounts falling due within one year 7 410,420 390,818
NET CURRENT LIABILITIES (375,779 ) (378,217 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

443,301

445,508

CREDITORS
Amounts falling due after more than one
year

8

338,000

354,000
NET ASSETS 105,301 91,508

CAPITAL AND RESERVES
Called up share capital 9 18,000 18,000
Capital redemption reserve 10 2,000 2,000
Retained earnings 10 85,301 71,508
SHAREHOLDERS' FUNDS 105,301 91,508

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

MODUFLOW INVESTMENTS LIMITED (REGISTERED NUMBER: 11919832)

BALANCE SHEET - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:





Mr A M Wood - Director


MODUFLOW INVESTMENTS LIMITED (REGISTERED NUMBER: 11919832)

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

1. STATUTORY INFORMATION

Moduflow Investments 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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

MODUFLOW INVESTMENTS LIMITED (REGISTERED NUMBER: 11919832)

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

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 January 2023 13,551
Disposals (13,551 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 8,906
Eliminated on disposal (8,906 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 4,645

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 819,080
NET BOOK VALUE
At 31 December 2023 819,080
At 31 December 2022 819,080

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 29,794 8,778
Prepayments 983 798
30,777 9,576

MODUFLOW INVESTMENTS LIMITED (REGISTERED NUMBER: 11919832)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 74,000 112,000
Trade creditors 1,725 289
Amounts owed to group undertakings 283,270 251,850
Corporation tax 2,587 5,122
Social security and other taxes 5,724 2,581
Pension control account 1,000 -
Accruals and deferred income 42,114 18,976
410,420 390,818

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years 176,000 192,000
Shareholder Loans 162,000 162,000
338,000 354,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
16,200 Ordinary A £1 16,200 16,200
1,800 Ordinary B £1 1,800 1,800
18,000 18,000

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2023 71,508 2,000 73,508
Profit for the year 13,793 13,793
At 31 December 2023 85,301 2,000 87,301

MODUFLOW INVESTMENTS LIMITED (REGISTERED NUMBER: 11919832)

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

11. RELATED PARTY DISCLOSURES

Included in trade debtors is an amount of £29,794 (2022 - £8,778). This was monies owed to the company by Moduflow Fan Systems Ltd.

Included in trade creditors is an amount of £652 (2022 - £290). This was monies owed from the company to Moduflow Fan Systems Ltd.

During the year loans were received from Moduflow Fan Systems Ltd, a wholly owned subsidiary of the company. At the year end these loans totalled £283,270 (2022 - £251,850).

During the year management fees were received from Moduflow Fan Systems Ltd. In the current year these fees totalled £142,187.

During the year non executive director fees amounting to £nil (2022 - £nil) were paid to Lorenzo Russo, director and majority shareholder in Trade Winds Capital Ltd, a related party due to their majority shareholding in the company.

During the year non executive director fees amounting to £nil (2022 - £nil) were paid to West Lane Consulting Ltd, a related party due its owner, Andrew Wood, having a shareholding in the company.

12. ULTIMATE CONTROLLING PARTY

The company was under the control of Lorenzo Russo by virtue of his indirect ownership of 63% of the issued share capital.