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REGISTERED NUMBER: 09764707 (England and Wales)















MODALITY ACCOUNTABLE CARE ORGANISATION
LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2023






MODALITY ACCOUNTABLE CARE ORGANISATION
LIMITED (REGISTERED NUMBER: 09764707)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MODALITY ACCOUNTABLE CARE ORGANISATION
LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Dr N K Rati





REGISTERED OFFICE: Granville House
2 Tettenhall Road
Wolverhampton
WV1 4SB





REGISTERED NUMBER: 09764707 (England and Wales)






MODALITY ACCOUNTABLE CARE ORGANISATION
LIMITED (REGISTERED NUMBER: 09764707)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
CURRENT ASSETS
Debtors 5 4,014,807 4,014,807
Cash at bank and in hand 1,223 1,223
4,016,030 4,016,030
CREDITORS
Amounts falling due within one year 6 3,954,791 3,954,791
NET CURRENT ASSETS 61,239 61,239
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,239

61,239

CAPITAL AND RESERVES
Called up share capital 7 2,000 2,000
Capital redemption reserve 400 400
Retained earnings 58,839 58,839
SHAREHOLDERS' FUNDS 61,239 61,239

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 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.

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 5 September 2024 and were signed by:





Dr N K Rati - Director


MODALITY ACCOUNTABLE CARE ORGANISATION
LIMITED (REGISTERED NUMBER: 09764707)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Modality Accountable Care Organisation 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill is capitalised and is being amortised over its useful life of 5 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Grants receivable
Grants are recognised based on the accruals model. Grants are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value with changes recognised in profit or loss. Derivatives financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

MODALITY ACCOUNTABLE CARE ORGANISATION
LIMITED (REGISTERED NUMBER: 09764707)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 500,000
AMORTISATION
At 1 January 2023
and 31 December 2023 500,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 4,011,692 4,011,692
Other debtors 3,115 3,115
4,014,807 4,014,807

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 3,954,791 3,954,791

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
120,000 A Ordinary £0.01 1,200 1,200
80,000 B Ordinary £0.01 800 800
4,000,000 Irredeemable Preference £1 - -
2,000 2,000