Registered number
12382894
MODULIV LIMITED
Filleted Accounts
31 January 2024
MODULIV LIMITED
Registered number: 12382894
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 446,000 -
Current assets
Cash at bank and in hand 16 368
Creditors: amounts falling due within one year 4 (122,637) (104,783)
Net current liabilities (122,621) (104,415)
Net assets/(liabilities) 323,379 (104,415)
Capital and reserves
Called up share capital 10,000 10,000
Revaluation reserve 5 446,000 -
Profit and loss account (132,621) (114,415)
Shareholder's funds 323,379 (104,415)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Saadat Sultan Khan
Director
Approved by the board on 24 May 2024
MODULIV LIMITED
Notes to the Accounts
for the year ended 31 January 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 (as applied to small entities by section 1A of the standard).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
Revaluation of IP 446,000
At 31 January 2024 446,000
Independent report was provided by Inngot Limited which values the IP owned by Moduliv Ltd based on relief from royalty method and sector average growth rate of £8,578,000. The valuation based on forecast was £33,023,000. (Report Ref: OCNB-HESD-MRLD-ONDD dated 18 July 2024)
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,860 1,860
Trade creditors 3,653 3,136
Taxation and social security costs (725) (849)
Other creditors 117,849 100,636
122,637 104,783
5 Revaluation reserve 2024 2023
£ £
Gain on revaluation of IP 446,000 -
At 31 January 2024 446,000 -
6 Other information
MODULIV LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
47-49 New Hall Lane
Preston
Lancashire
PR1 5NY
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