IRIS Accounts Production v24.3.2.46 09454175 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh094541752023-05-31094541752024-05-31094541752023-06-012024-05-31094541752022-05-31094541752022-06-012023-05-31094541752023-05-3109454175ns15:EnglandWales2023-06-012024-05-3109454175ns14:PoundSterling2023-06-012024-05-3109454175ns10:Director12023-06-012024-05-3109454175ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3109454175ns10:SmallEntities2023-06-012024-05-3109454175ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3109454175ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3109454175ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3109454175ns10:FullAccounts2023-06-012024-05-3109454175ns10:OrdinaryShareClass12023-06-012024-05-3109454175ns10:Director22023-06-012024-05-3109454175ns10:RegisteredOffice2023-06-012024-05-3109454175ns5:CurrentFinancialInstruments2024-05-3109454175ns5:CurrentFinancialInstruments2023-05-3109454175ns5:ShareCapital2024-05-3109454175ns5:ShareCapital2023-05-3109454175ns5:RetainedEarningsAccumulatedLosses2024-05-3109454175ns5:RetainedEarningsAccumulatedLosses2023-05-3109454175ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3109454175ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3109454175ns10:OrdinaryShareClass12024-05-31
REGISTERED NUMBER: 09454175 (England and Wales)















Modern Property Solutions Limited

Unaudited Financial Statements for the Year Ended 31 May 2024






Modern Property Solutions Limited (Registered number: 09454175)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Modern Property Solutions Limited

Company Information
for the Year Ended 31 May 2024







Directors: M J O'Donoghue
H L O'Donoghue





Registered office: 60 Far Hey Close
Radcliffe
Manchester
M26 3GL





Registered number: 09454175 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

Modern Property Solutions Limited (Registered number: 09454175)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Investment property 4 230,866 230,866

Current assets
Debtors 5 800 800
Cash at bank 29,692 27,465
30,492 28,265
Creditors
Amounts falling due within one year 6 209,036 212,298
Net current liabilities (178,544 ) (184,033 )
Total assets less current liabilities 52,322 46,833

Capital and reserves
Called up share capital 7 100 100
Retained earnings 52,222 46,733
Shareholders' funds 52,322 46,833

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Modern Property Solutions Limited (Registered number: 09454175)

Statement of Financial Position - continued
31 May 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 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 19 February 2025 and were signed on its behalf by:





M J O'Donoghue - Director


Modern Property Solutions Limited (Registered number: 09454175)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. Statutory information

Modern Property Solutions 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.

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 receivable for rental income during the year.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

3. Employees and directors

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

Modern Property Solutions Limited (Registered number: 09454175)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. Investment property
Total
£   
Fair value
At 1 June 2023
and 31 May 2024 230,866
Net book value
At 31 May 2024 230,866
At 31 May 2023 230,866

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 800 800

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 839 -
Taxation and social security 1,288 5,536
Other creditors 206,909 206,762
209,036 212,298

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100