90 29 January 2025 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-31 Sage Accounts Production Advanced 2023 - FRS102_2023 25,002 15,000 2,500 17,500 7,502 10,002 230,699 12,296 242,995 169,289 39,581 208,870 34,125 61,410 xbrli:pure xbrli:shares iso4217:GBP 10464730 2023-01-31 2024-01-28 10464730 2024-01-28 10464730 2023-01-30 10464730 2022-01-31 2023-01-30 10464730 2023-01-30 10464730 2022-01-30 10464730 core:NetGoodwill 2023-01-31 2024-01-28 10464730 core:FurnitureFittings 2023-01-31 2024-01-28 10464730 bus:Director1 2023-01-31 2024-01-28 10464730 core:NetGoodwill 2023-01-30 10464730 core:NetGoodwill 2024-01-28 10464730 core:FurnitureFittings 2023-01-30 10464730 core:FurnitureFittings 2024-01-28 10464730 core:WithinOneYear 2024-01-28 10464730 core:WithinOneYear 2023-01-30 10464730 core:UKTax 2023-01-31 2024-01-28 10464730 core:UKTax 2022-01-31 2023-01-30 10464730 core:ShareCapital 2024-01-28 10464730 core:ShareCapital 2023-01-30 10464730 core:RetainedEarningsAccumulatedLosses 2024-01-28 10464730 core:RetainedEarningsAccumulatedLosses 2023-01-30 10464730 core:NetGoodwill 2023-01-30 10464730 core:FurnitureFittings 2023-01-30 10464730 bus:SmallEntities 2023-01-31 2024-01-28 10464730 bus:Audited 2023-01-31 2024-01-28 10464730 bus:SmallCompaniesRegimeForAccounts 2023-01-31 2024-01-28 10464730 bus:PrivateLimitedCompanyLtd 2023-01-31 2024-01-28 10464730 bus:FullAccounts 2023-01-31 2024-01-28
COMPANY REGISTRATION NUMBER: 10464730
MODA CONCESSIONS LTD
FILLETED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
28 January 2024
MODA CONCESSIONS LTD
STATEMENT OF FINANCIAL POSITION
28 January 2024
28 Jan 24
30 Jan 23
Note
£
£
£
£
FIXED ASSETS
Intangible assets
6
7,502
10,002
Tangible assets
7
34,125
61,410
--------
--------
41,627
71,412
CURRENT ASSETS
Debtors
8
3,041,861
1,747,713
Cash at bank and in hand
4,934
3,200
------------
------------
3,046,795
1,750,913
CREDITORS: amounts falling due within one year
9
( 1,701,103)
( 1,024,096)
------------
------------
NET CURRENT ASSETS
1,345,692
726,817
------------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,387,319
798,229
PROVISIONS
( 8,531)
( 11,668)
------------
---------
NET ASSETS
1,378,788
786,561
------------
---------
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
1,378,787
786,560
------------
---------
SHAREHOLDERS FUNDS
1,378,788
786,561
------------
---------
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 statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
MODA CONCESSIONS LTD
STATEMENT OF FINANCIAL POSITION (continued)
28 January 2024
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
S A Buck
Director
Company registration number: 10464730
MODA CONCESSIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 31 JANUARY 2023 TO 28 JANUARY 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 34 Roundhay Road, Leeds, LS7 1AB, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods supplied, exclusive of Value Added Tax.
Income tax
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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 90 (2023: 90 ).
5. TAX ON PROFIT
Major components of tax expense
Period from
31 Jan 23 to
Year to
28 Jan 24
30 Jan 23
£
£
Current tax:
UK current tax expense
195,581
80,742
Adjustments in respect of prior periods
200
---------
--------
Total current tax
195,581
80,942
---------
--------
Deferred tax:
Origination and reversal of timing differences
( 3,137)
( 2,964)
---------
--------
Tax on profit
192,444
77,978
---------
--------
6. INTANGIBLE ASSETS
Goodwill
£
Cost
At 31 January 2023 and 28 January 2024
25,002
--------
Amortisation
At 31 January 2023
15,000
Charge for the period
2,500
--------
At 28 January 2024
17,500
--------
Carrying amount
At 28 January 2024
7,502
--------
At 30 January 2023
10,002
--------
7. TANGIBLE ASSETS
Fixtures and fittings
£
Cost
At 31 January 2023
230,699
Additions
12,296
---------
At 28 January 2024
242,995
---------
Depreciation
At 31 January 2023
169,289
Charge for the period
39,581
---------
At 28 January 2024
208,870
---------
Carrying amount
At 28 January 2024
34,125
---------
At 30 January 2023
61,410
---------
8. DEBTORS
28 Jan 24
30 Jan 23
£
£
Trade debtors
232,284
272,808
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,194,083
1,445,838
Other debtors
615,494
29,067
------------
------------
3,041,861
1,747,713
------------
------------
9. CREDITORS: amounts falling due within one year
28 Jan 24
30 Jan 23
£
£
Trade creditors
634,207
179
Amounts owed to group undertakings and undertakings in which the company has a participating interest
442,041
759,817
Corporation tax
321,761
151,533
Social security and other taxes
159,407
Other creditors
143,687
112,567
------------
------------
1,701,103
1,024,096
------------
------------
10. SUMMARY AUDIT OPINION
The auditor's report dated 29 January 2025 was unqualified .
The senior statutory auditor was JEFFREY WINE , for and on behalf of Wine & Co .