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REGISTERED NUMBER: 03426075 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 March 2024

for

Modlit Holdings Limited

Modlit Holdings Limited (Registered number: 03426075)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Modlit Holdings Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: D Weatherhogg





REGISTERED OFFICE: Nicholls Road
Princes End
Tipton
West Midlands
DY4 9LG





REGISTERED NUMBER: 03426075 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Modlit Holdings Limited (Registered number: 03426075)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 217,750 224,008
Investments 5 10,036 10,085
227,786 234,093

CURRENT ASSETS
Debtors 6 231 211
Cash at bank 14,832 69,831
15,063 70,042
CREDITORS
Amounts falling due within one year 7 95,301 150,059
NET CURRENT LIABILITIES (80,238 ) (80,017 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

147,548

154,076

CAPITAL AND RESERVES
Called up share capital 10,036 10,036
Retained earnings 137,512 144,040
SHAREHOLDERS' FUNDS 147,548 154,076

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.

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 24 October 2024 and were signed by:





D Weatherhogg - Director


Modlit Holdings Limited (Registered number: 03426075)

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

1. STATUTORY INFORMATION

Modlit Holdings 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.

Preparation of consolidated financial statements
The financial statements contain information about Modlit Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 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 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.

3. EMPLOYEES AND DIRECTORS

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

Modlit Holdings Limited (Registered number: 03426075)

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

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 230,000 295,326 525,326
DEPRECIATION
At 1 April 2023 13,800 287,518 301,318
Charge for year 4,600 1,658 6,258
At 31 March 2024 18,400 289,176 307,576
NET BOOK VALUE
At 31 March 2024 211,600 6,150 217,750
At 31 March 2023 216,200 7,808 224,008

5. FIXED ASSET INVESTMENTS
Interest
Shares in in other
group participating
undertakings interests Totals
£    £    £   
COST
At 1 April 2023 10,036 49 10,085
Disposals - (49 ) (49 )
At 31 March 2024 10,036 - 10,036
NET BOOK VALUE
At 31 March 2024 10,036 - 10,036
At 31 March 2023 10,036 49 10,085

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 231 211

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 733 247
Amounts owed to group undertakings 94,568 149,763
Amounts owed to participating interests - 49
95,301 150,059