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REGISTERED NUMBER: 02631509 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Modular Office and Storage Systems
Limited

Modular Office and Storage Systems
Limited (Registered number: 02631509)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Modular Office and Storage Systems
Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: B McWilliams
J Rimington





SECRETARY: B McWilliams





REGISTERED OFFICE: E17 Eleventh Avenue North
Team Valley Trading Estate
Gateshead
Tyne and Wear
NE11 0NJ





REGISTERED NUMBER: 02631509 (England and Wales)





ACCOUNTANT: George Charlton
Accountant & Business Adviser
11 Stoneleigh Court
Woodham
Newton Aycliffe
Co. Durham
DL5 4TL

Modular Office and Storage Systems
Limited (Registered number: 02631509)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,366 9,604

CURRENT ASSETS
Stocks 1,622 1,121
Debtors 5 114,664 190,978
Cash at bank and in hand 160,460 198,807
276,746 390,906
CREDITORS
Amounts falling due within one year 6 115,746 173,517
NET CURRENT ASSETS 161,000 217,389
TOTAL ASSETS LESS CURRENT
LIABILITIES

188,366

226,993

PROVISIONS FOR LIABILITIES 5,037 1,626
NET ASSETS 183,329 225,367

CAPITAL AND RESERVES
Called up share capital 4,000 4,000
Retained earnings 179,329 221,367
SHAREHOLDERS' FUNDS 183,329 225,367

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Modular Office and Storage Systems
Limited (Registered number: 02631509)

Balance Sheet - continued
31 July 2023


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 30 September 2024 and were signed on its behalf by:





J Rimington - Director


Modular Office and Storage Systems
Limited (Registered number: 02631509)

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

1. STATUTORY INFORMATION

Modular Office and Storage Systems 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.

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 - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 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.

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.

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.

Modular Office and Storage Systems
Limited (Registered number: 02631509)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2022 3,413 10,757 39,529 53,699
Additions - - 21,320 21,320
At 31 July 2023 3,413 10,757 60,849 75,019
DEPRECIATION
At 1 August 2022 3,323 10,025 30,747 44,095
Charge for year 18 454 3,086 3,558
At 31 July 2023 3,341 10,479 33,833 47,653
NET BOOK VALUE
At 31 July 2023 72 278 27,016 27,366
At 31 July 2022 90 732 8,782 9,604

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 105,054 186,835
Other debtors 9,610 4,143
114,664 190,978

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 18,915 86,861
Taxation and social security 6,000 4,725
Other creditors 90,831 81,931
115,746 173,517

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company operates a current account with the directors. At 31 July 2023 the amount owing to the directors was £5,015 (2022: £16418).