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REGISTERED NUMBER: 06620720 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MODUS SPORTS MANAGEMENT LIMITED

MODUS SPORTS MANAGEMENT LIMITED (REGISTERED NUMBER: 06620720)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MODUS SPORTS MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: J Thame





REGISTERED OFFICE: 4 Office Village
Forder Way
Cygnet Park
Hampton
Cambridgeshire
PE7 8GX





REGISTERED NUMBER: 06620720 (England and Wales)





ACCOUNTANTS: TC CH Limited
4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX

MODUS SPORTS MANAGEMENT LIMITED (REGISTERED NUMBER: 06620720)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,522 3,963
Tangible assets 5 330,184 182,329
333,706 186,292

CURRENT ASSETS
Debtors 6 948,145 524,907
Cash at bank 162,955 294,963
1,111,100 819,870
CREDITORS
Amounts falling due within one year 7 254,044 175,853
NET CURRENT ASSETS 857,056 644,017
TOTAL ASSETS LESS CURRENT LIABILITIES 1,190,762 830,309

CREDITORS
Amounts falling due after more than one
year

8

(11,667

)

(21,667

)

PROVISIONS FOR LIABILITIES (40,680 ) (3,675 )
NET ASSETS 1,138,415 804,967

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,138,414 804,966
SHAREHOLDERS' FUNDS 1,138,415 804,967

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MODUS SPORTS MANAGEMENT LIMITED (REGISTERED NUMBER: 06620720)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 director and authorised for issue on 27 December 2024 and were signed by:





J Thame - Director


MODUS SPORTS MANAGEMENT LIMITED (REGISTERED NUMBER: 06620720)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Modus Sports Management 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 33% on cost, 25% on reducing balance and 10% on cost

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

MODUS SPORTS MANAGEMENT LIMITED (REGISTERED NUMBER: 06620720)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Debtors
Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

MODUS SPORTS MANAGEMENT LIMITED (REGISTERED NUMBER: 06620720)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 4,403
AMORTISATION
At 1 April 2023 440
Charge for year 441
At 31 March 2024 881
NET BOOK VALUE
At 31 March 2024 3,522
At 31 March 2023 3,963

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 100,000 176,348 276,348
Additions 162,009 125,452 287,461
Disposals (100,000 ) - (100,000 )
At 31 March 2024 162,009 301,800 463,809
DEPRECIATION
At 1 April 2023 - 94,019 94,019
Charge for year - 39,606 39,606
At 31 March 2024 - 133,625 133,625
NET BOOK VALUE
At 31 March 2024 162,009 168,175 330,184
At 31 March 2023 100,000 82,329 182,329

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 471,206 94,203
Amounts owed by associates 204,643 61,031
Other debtors 272,296 369,673
948,145 524,907

MODUS SPORTS MANAGEMENT LIMITED (REGISTERED NUMBER: 06620720)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 72,558 9,249
Taxation and social security 138,418 119,467
Other creditors 33,068 37,137
254,044 175,853

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,667 21,667

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 703 4,219
Between one and five years - 703
703 4,922

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, £7,106 (2023 - £75,170) was advanced to a director, and £130,000 (2023 - £180,000) was repaid, leaving a balance of £169,975 (2023 - £292,869) owed by the director to the company. Interest has been charge on this loan and the loan is unsecured and repayable on demand.

11. RELATED PARTY DISCLOSURES

As at the year end, the company was owed £2,516 (2023 - £2,516) by a connected company. This loan is unsecured, interest free and repayable on demand. The balance is included within other debtors.

As at the year end, the company was owed £32,862 (2023 - £16,882) by a connected company. This loan is unsecured, interest free and repayable on demand. The balance is included within other debtors.

As at the year end, the company was owed £300 (2023 - £nil) by a connected company. This loan is unsecured, interest free and repayable on demand. The balance is included within other debtors.

As at the year end, the company was owed £300 (2023 - £nil) by a connected company. This loan is unsecured, interest free and repayable on demand. The balance is included within other debtors.

As at the year end, the company was owed £141,633 (2023 - £41,633) by a connected company. This loan is unsecured, interest free and repayable on demand. The balance is included within other debtors.

As at the year end, the company was owed £3,532 (2023 - £nil) by a connected company. This loan is unsecured, interest free and repayable on demand. The balance is included within other debtors.

As at the year end, the company was owed £23,500 (2023 - £nil) by a connected company. This loan is unsecured, interest free and repayable on demand. The balance is included within other debtors.

MODUS SPORTS MANAGEMENT LIMITED (REGISTERED NUMBER: 06620720)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J C Thame by virtue of his 100% shareholding.