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REGISTERED NUMBER: SC320631 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Modus Building Services Limited

Modus Building Services Limited (Registered number: SC320631)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Modus Building Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D K White
N D Barrett





SECRETARY:





REGISTERED OFFICE: Unit 1 Straiton View
Straiton Business Park
Loanhead
Edinburgh
EH20 9QZ





REGISTERED NUMBER: SC320631 (Scotland)





ACCOUNTANTS: Accountants Plus
Chartered Certified Accountants
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

Modus Building Services Limited (Registered number: SC320631)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,108 63,448
Investments 5 1,200 1,200
43,308 64,648

CURRENT ASSETS
Stocks 250,904 -
Debtors 6 10,040,469 9,698,768
Cash at bank 162,653 323,191
10,454,026 10,021,959
CREDITORS
Amounts falling due within one year 7 458,059 458,647
NET CURRENT ASSETS 9,995,967 9,563,312
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,039,275

9,627,960

CREDITORS
Amounts falling due after more than
one year

8

(13,333

)

(13,333

)

PROVISIONS FOR LIABILITIES (9,904 ) (12,055 )
NET ASSETS 10,016,038 9,602,572

Modus Building Services Limited (Registered number: SC320631)

Balance Sheet - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10,015,938 9,602,472
10,016,038 9,602,572

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.

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 24 September 2024 and were signed on its behalf by:




N D Barrett - Director



D K White - Director


Modus Building Services Limited (Registered number: SC320631)

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

1. STATUTORY INFORMATION

Modus Building Services Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and bank balances
Cash and bank balances are measured at the transaction price.

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.


Modus Building Services Limited (Registered number: SC320631)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 22 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 142,981
Additions 10,369
Disposals (46,397 )
At 31 December 2023 106,953
DEPRECIATION
At 1 January 2023 79,533
Charge for year 14,036
Eliminated on disposal (28,724 )
At 31 December 2023 64,845
NET BOOK VALUE
At 31 December 2023 42,108
At 31 December 2022 63,448

Modus Building Services Limited (Registered number: SC320631)

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

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.12.23 31.12.22
£    £   
Other investments 1,200 1,200

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 531,207 1,394,998
Amounts owed by participating interests 9,469,151 8,258,780
Directors' current accounts - 18,851
Tax 6,143 14,207
VAT 21,399 -
Prepayments 12,569 11,932
10,040,469 9,698,768

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts - 4,323
Trade creditors 262,983 92,058
Tax (2,279 ) -
Social security and other taxes 57,158 60,566
VAT - 64,091
Wages and salaries control - 561
Company credit card 3,600 17,347
Directors' current accounts 119,862 594
Accrued expenses 16,735 219,107
458,059 458,647

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Accruals and deferred income 13,333 13,333

Modus Building Services Limited (Registered number: SC320631)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
D K White
Balance outstanding at start of year 18,850 19,087
Amounts advanced (137,988 ) (237 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (119,138 ) 18,850

N D Barrett
Balance outstanding at start of year (594 ) (305 )
Amounts advanced (131 ) (289 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (725 ) (594 )

10. ULTIMATE CONTROLLING PARTY

The controlling party is N D Barrett Holdings Ltd.