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REGISTERED NUMBER: 14715587 (England and Wales)






















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE PERIOD

8TH MARCH 2023 TO 31ST MARCH 2024

FOR

MODI ILLVA UK PRIVATE LIMITED

MODI ILLVA UK PRIVATE LIMITED (REGISTERED NUMBER: 14715587)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 8TH MARCH 2023 TO 31ST MARCH 2024




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 7

Balance Sheet 8

Notes to the Financial Statements 9


MODI ILLVA UK PRIVATE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 8TH MARCH 2023 TO 31ST MARCH 2024







DIRECTORS: U K Modi
A Marzorati





SECRETARY: A P C Fox





REGISTERED OFFICE: 83 Cambridge Street
Pimlico
London
SW1V 4PS





REGISTERED NUMBER: 14715587 (England and Wales)





AUDITORS: Cooley & Co
Registered Auditor & Chartered Accountants
Sampuran House
3a Chislehurst Road
Orpington
Kent

MODI ILLVA UK PRIVATE LIMITED (REGISTERED NUMBER: 14715587)

REPORT OF THE DIRECTORS
FOR THE PERIOD 8TH MARCH 2023 TO 31ST MARCH 2024

The directors present their report with the financial statements of the company for the period 8th March 2023 to 31st March 2024.

INCORPORATION
The company was incorporated on 8th March 2023 .

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of trading in maturation and exporting of spirits.

DIRECTORS
The directors appointed on incorporation on 8th March 2023 were:-

U K Modi
A Marzorati

A Marzorati resigned as a director on 2nd September 2024.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Cooley & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.


MODI ILLVA UK PRIVATE LIMITED (REGISTERED NUMBER: 14715587)

REPORT OF THE DIRECTORS
FOR THE PERIOD 8TH MARCH 2023 TO 31ST MARCH 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:



U K Modi - Director


12th September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MODI ILLVA UK PRIVATE LIMITED

Opinion
We have audited the financial statements of Modi Illva UK Private Limited (the 'company') for the period ended 31st March 2024 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st March 2024 and of its loss for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MODI ILLVA UK PRIVATE LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements. The extent to which our procedures are capable of detecting irregularities is detailed below:

As part of the audit we assess the susceptibility of the financial statements to material misstatement because of fraud or error and we consider how those misstatements might arise. We ensure that we understand the legal and regulatory framework applicable to the entity and how the entity complies with that framework. We also consider the effectiveness of the entity’s controls and systems and the inherent difficulties in identifying irregularities. The number and types of transactions by which Modi Illva UK Private Limited conducts its operations is limited. Our audit included the examination of all of the entity’s recorded transactions and balances in the accounting period and a review of after date transactions. We examine the treatment of all of the balances and transactions in the financial statements. It is our belief that the procedures adopted are sufficient to detect any material misstatements that might arise from fraud, error or other irregularities.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MODI ILLVA UK PRIVATE LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Christopher M Cooley (Senior Statutory Auditor)
for and on behalf of Cooley & Co
Registered Auditor & Chartered Accountants
Sampuran House
3a Chislehurst Road
Orpington
Kent

12th September 2024

MODI ILLVA UK PRIVATE LIMITED (REGISTERED NUMBER: 14715587)

INCOME STATEMENT
FOR THE PERIOD 8TH MARCH 2023 TO 31ST MARCH 2024

£   

TURNOVER -

Administrative expenses 11,850
OPERATING LOSS (11,850 )

Interest receivable and similar income 11,283
LOSS BEFORE TAXATION (567 )

Tax on loss -
LOSS FOR THE FINANCIAL PERIOD (567 )

MODI ILLVA UK PRIVATE LIMITED (REGISTERED NUMBER: 14715587)

BALANCE SHEET
31ST MARCH 2024

Notes £   
CURRENT ASSETS
Debtors 4 2,756,283
Cash at bank 54,250
2,810,533
CREDITORS
Amounts falling due within one year 5 11,000
NET CURRENT ASSETS 2,799,533
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,799,533

CAPITAL AND RESERVES
Called up share capital 2,800,100
Retained earnings (567 )
2,799,533

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 12th September 2024 and were signed on its behalf by:





U K Modi - Director


MODI ILLVA UK PRIVATE LIMITED (REGISTERED NUMBER: 14715587)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 8TH MARCH 2023 TO 31ST MARCH 2024

1. STATUTORY INFORMATION

Modi Illva UK Private 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.

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.

Taxation
Taxation for the period 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Loan 2,745,000
Accrued interest 11,283
2,756,283

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Accrued expenses 11,000

6. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Modi Illva India Private Limited, a company incorporated in India. There is no party with overall control of Modi Illva India Private Limited.