0 01/11/2022 31/10/2023 2023-10-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-11-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 12865531 2022-11-01 2023-10-31 12865531 2023-10-31 12865531 2022-10-31 12865531 2021-11-01 2022-10-31 12865531 2022-10-31 12865531 2021-10-31 12865531 bus:RegisteredOffice 2022-11-01 2023-10-31 12865531 bus:LeadAgentIfApplicable 2022-11-01 2023-10-31 12865531 bus:Director1 2022-11-01 2023-10-31 12865531 core:RetainedEarningsAccumulatedLosses 2021-11-01 2022-10-31 12865531 core:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 12865531 core:WithinOneYear 2023-10-31 12865531 core:WithinOneYear 2022-10-31 12865531 core:ShareCapital 2023-10-31 12865531 core:ShareCapital 2022-10-31 12865531 core:RetainedEarningsAccumulatedLosses 2023-10-31 12865531 core:RetainedEarningsAccumulatedLosses 2022-10-31 12865531 core:ShareCapital 2021-10-31 12865531 core:RetainedEarningsAccumulatedLosses 2021-10-31 12865531 core:PreviouslyStatedAmount core:ShareCapital 2023-10-31 12865531 bus:SmallEntities 2022-11-01 2023-10-31 12865531 bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 12865531 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 12865531 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12865531 bus:AbridgedAccounts 2022-11-01 2023-10-31
Company registration number: 12865531
Modernistiq (Hull) Ltd
Unaudited filleted abridged financial statements
31 October 2023
Modernistiq (Hull) Ltd
Contents
Directors and other information
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Modernistiq (Hull) Ltd
Directors and other information
Director S. Wright
Company number 12865531
Registered office Avenue HQ
10 - 12 East Parade
Leeds
LS1 2BH
Accountants Bostocks Boyce Welch
The Counting House
Tower Buildings
Wade House Road
Shelf
HX3 7PB
Modernistiq (Hull) Ltd
Abridged statement of financial position
31 October 2023
2023 2022
Note £ £ £ £
Current assets
Stocks 1,048,639 1,079,389
Debtors 21,504 50,118
Cash at bank and in hand 323,648 109,004
_______ _______
1,393,791 1,238,511
Creditors: amounts falling due
within one year ( 4,909,797) ( 1,845,191)
_______ _______
Net current liabilities ( 3,516,006) ( 606,680)
_______ _______
Total assets less current liabilities ( 3,516,006) ( 606,680)
_______ _______
Net liabilities ( 3,516,006) ( 606,680)
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account ( 3,516,007) ( 606,681)
_______ _______
Shareholders deficit ( 3,516,006) ( 606,680)
_______ _______
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 27 October 2024 , and are signed on behalf of the board by:
S. Wright
Director
Company registration number: 12865531
Modernistiq (Hull) Ltd
Statement of changes in equity
Year ended 31 October 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 November 2021 1 ( 125,908) ( 125,907)
Loss for the year ( 480,773) ( 480,773)
_______ _______ _______
Total comprehensive income for the year - ( 480,773) ( 480,773)
_______ _______ _______
At 31 October 2022 and 1 November 2022 1 ( 606,681) ( 606,680)
Loss for the year ( 2,909,326) ( 2,909,326)
_______ _______ _______
Total comprehensive income for the year - ( 2,909,326) ( 2,909,326)
_______ _______ _______
At 31 October 2023 1 ( 3,516,007) ( 3,516,006)
_______ _______ _______
Modernistiq (Hull) Ltd
Notes to the financial statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Avenue HQ, 10 - 12 East Parade, Leeds, LS1 2BH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Controlling party
The company is a wholly owned subsidary of Modernistiq Group Ltd .