IRIS Accounts Production v24.3.0.553 13870356 Board of Directors 1.2.23 30.1.24 30.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh138703562023-01-31138703562024-01-30138703562023-02-012024-01-30138703562022-01-24138703562022-01-252023-01-31138703562023-01-3113870356ns15:EnglandWales2023-02-012024-01-3013870356ns14:PoundSterling2023-02-012024-01-3013870356ns10:Director12023-02-012024-01-3013870356ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3013870356ns10:SmallEntities2023-02-012024-01-3013870356ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3013870356ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3013870356ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3013870356ns10:FullAccounts2023-02-012024-01-3013870356ns10:Director22023-02-012024-01-3013870356ns10:RegisteredOffice2023-02-012024-01-3013870356ns5:CurrentFinancialInstruments2024-01-3013870356ns5:CurrentFinancialInstruments2023-01-3113870356ns5:ShareCapital2024-01-3013870356ns5:ShareCapital2023-01-3113870356ns5:RetainedEarningsAccumulatedLosses2024-01-3013870356ns5:RetainedEarningsAccumulatedLosses2023-01-3113870356ns5:ShortLeaseholdAssetsns5:LandBuildings2023-02-012024-01-3013870356ns5:PlantMachinery2023-02-012024-01-3013870356ns5:FurnitureFittings2023-02-012024-01-3013870356ns5:ComputerEquipment2023-02-012024-01-3013870356ns5:ShortLeaseholdAssetsns5:LandBuildings2023-01-3113870356ns5:PlantMachinery2023-01-3113870356ns5:FurnitureFittings2023-01-3113870356ns5:ComputerEquipment2023-01-3113870356ns5:ShortLeaseholdAssetsns5:LandBuildings2024-01-3013870356ns5:PlantMachinery2024-01-3013870356ns5:FurnitureFittings2024-01-3013870356ns5:ComputerEquipment2024-01-3013870356ns5:ShortLeaseholdAssetsns5:LandBuildings2023-01-3113870356ns5:PlantMachinery2023-01-3113870356ns5:FurnitureFittings2023-01-3113870356ns5:ComputerEquipment2023-01-3113870356ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3013870356ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-31
REGISTERED NUMBER: 13870356 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE PERIOD

1 FEBRUARY 2023 TO 30 JANUARY 2024

FOR

MODERN SOCIAL LTD

MODERN SOCIAL LTD (REGISTERED NUMBER: 13870356)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2023 TO 30 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MODERN SOCIAL LTD

COMPANY INFORMATION
FOR THE PERIOD 1 FEBRUARY 2023 TO 30 JANUARY 2024







DIRECTORS: H Fulton
D Smith





REGISTERED OFFICE: 6 Guy Street
Leamington Spa
CV32 4RT





REGISTERED NUMBER: 13870356 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

MODERN SOCIAL LTD (REGISTERED NUMBER: 13870356)

BALANCE SHEET
30 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 84,376 67,399

CURRENT ASSETS
Stocks 14,800 -
Debtors 5 - 1,002
Cash at bank 5,577 9,025
20,377 10,027
CREDITORS
Amounts falling due within one year 6 202,876 100,600
NET CURRENT LIABILITIES (182,499 ) (90,573 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(98,123

)

(23,174

)

CAPITAL AND RESERVES
Called up and paid share capital 2 2
Retained earnings (98,125 ) (23,176 )
(98,123 ) (23,174 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 January 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by:



D Smith - Director


MODERN SOCIAL LTD (REGISTERED NUMBER: 13870356)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2023 TO 30 JANUARY 2024


1. STATUTORY INFORMATION

Modern Social Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Leasehold - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market rate of
interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


MODERN SOCIAL LTD (REGISTERED NUMBER: 13870356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 30 JANUARY 2024


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 period 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.

Going concern
The financial statements have been prepared on the going concern basis, on the understanding that the company will receive continued support from the director for a period of at least 12 months from the date of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 13 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
Leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 65,000 - 2,399 - 67,399
Additions - 3,621 19,634 180 23,435
At 30 January 2024 65,000 3,621 22,033 180 90,834
DEPRECIATION
Charge for period - 905 5,508 45 6,458
At 30 January 2024 - 905 5,508 45 6,458
NET BOOK VALUE
At 30 January 2024 65,000 2,716 16,525 135 84,376
At 31 January 2023 65,000 - 2,399 - 67,399

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 2
Prepayments - 1,000
- 1,002

MODERN SOCIAL LTD (REGISTERED NUMBER: 13870356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 30 JANUARY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Social security and other taxes 13,662 -
Wages control account 4,037 -
Pension control account 873 -
VAT 33,073 -
Directors' current accounts 148,881 100,000
Accruals and deferred income 2,350 600
202,876 100,600