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Registered number: SC668314
Moda Ceramics Limited
Unaudited Financial Statements
For the Period 1 August 2022 to 31 December 2023
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC668314
31 December 2023 31 July 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,645 -
11,645 -
CURRENT ASSETS
Stock 5 24,250 25,940
Debtors 6 35,822 49,376
Cash at bank and in hand 31,590 14,802
91,662 90,118
Creditors: Amounts Falling Due Within One Year 7 (193,124 ) (110,551 )
NET CURRENT ASSETS (LIABILITIES) (101,462 ) (20,433 )
TOTAL ASSETS LESS CURRENT LIABILITIES (89,817 ) (20,433 )
NET LIABILITIES (89,817 ) (20,433 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (89,819 ) (20,435 )
SHAREHOLDERS' FUNDS (89,817) (20,433)
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For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs L J Denham
Director
25 September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Moda Ceramics Limited is a private company, limited by shares, incorporated in Scotland, registered number SC668314 . The registered office is 29 West Way Business Park, Dalgety Bay, Dunfermline, KY11 9AE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director has carried out an assessment of the going concern position of the Company, with due consideration of the current economic situation in the UK and beyond, and with her continued support, the director has concluded that they have a reasonable expectation that the Company has adequate access to resources to continue as a going concern for a period of at least 12 months. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.
2.3. 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% straight line
Office and Computer Equipment 33.3% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2 (2022: 2)
2 2
4. Tangible Assets
Land & Property
Leasehold Office and Computer Equipment Total
£ £ £
Cost
As at 1 August 2022 - - -
Additions 1,725 13,838 15,563
As at 31 December 2023 1,725 13,838 15,563
Depreciation
As at 1 August 2022 - - -
Provided during the period 288 3,630 3,918
As at 31 December 2023 288 3,630 3,918
Net Book Value
As at 31 December 2023 1,437 10,208 11,645
As at 1 August 2022 - - -
5. Stock
31 December 2023 31 July 2022
£ £
Stock 24,250 25,940
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6. Debtors
31 December 2023 31 July 2022
£ £
Due within one year
Trade debtors 34,104 39,736
Other debtors 1,718 9,640
35,822 49,376
7. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 July 2022
£ £
Trade creditors 67,419 56,565
Other loans 21,055 11,193
Other creditors 65,289 19,779
Taxation and social security 39,361 23,014
193,124 110,551
8. Share Capital
31 December 2023 31 July 2022
£ £
Allotted, Called up and fully paid 2 2
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