Registered number
10661987
Modev Developments Limited
Report and Accounts
30 March 2024
Accountancy 4 Success Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Modev Developments Limited
Registered number: 10661987
Balance Sheet
as at 30 March 2024
Notes 2024 2023
£ £
Current assets
Debtors 4 36,527 43,777
Cash at bank and in hand 22 45
36,549 43,822
Creditors: amounts falling due within one year 5 (7,172) (501)
Net current assets 29,377 43,321
Total assets less current liabilities 29,377 43,321
Creditors: amounts falling due after more than one year 6 (38,381) (50,412)
Net liabilities (9,004) (7,091)
Capital and reserves
Called up share capital 2 2
Profit and loss account (9,006) (7,093)
Shareholders' funds (9,004) (7,091)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J S Athwal
Director
Approved by the board on 20 August 2024
Modev Developments Limited
Notes to the Accounts
for the year ended 30 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 March 2023 415
At 30 March 2024 415
Depreciation
At 31 March 2023 415
At 30 March 2024 415
Net book value
At 30 March 2024 -
4 Debtors 2024 2023
£ £
Trade debtors 12,000 12,000
Amounts owed by group undertakings and undertakings in which the company has a participating interest 24,527 31,777
36,527 43,777
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,672 -
Other creditors 500 501
7,172 501
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 38,381 50,412
7 Related party transactions
There are no related party transactions.
8 Controlling party
The company is controlled by its directors who are the shareholders.
Modev Developments Limited 10661987 false 2023-03-31 2024-03-30 2024-03-30 VT Final Accounts April 2024 J S Athwal No description of principal activity 10661987 2022-04-01 2023-03-30 10661987 core:WithinOneYear 2023-03-30 10661987 core:AfterOneYear 2023-03-30 10661987 core:ShareCapital 2023-03-30 10661987 core:RetainedEarningsAccumulatedLosses 2023-03-30 10661987 2023-03-31 2024-03-30 10661987 bus:PrivateLimitedCompanyLtd 2023-03-31 2024-03-30 10661987 bus:AuditExemptWithAccountantsReport 2023-03-31 2024-03-30 10661987 bus:Director40 2023-03-31 2024-03-30 10661987 bus:FRS102 2023-03-31 2024-03-30 10661987 bus:FilletedAccounts 2023-03-31 2024-03-30 10661987 2024-03-30 10661987 core:WithinOneYear 2024-03-30 10661987 core:AfterOneYear 2024-03-30 10661987 core:ShareCapital 2024-03-30 10661987 core:RetainedEarningsAccumulatedLosses 2024-03-30 10661987 core:PlantMachinery 2024-03-30 10661987 2023-03-30 10661987 core:PlantMachinery 2023-03-30 iso4217:GBP xbrli:pure