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REGISTERED NUMBER: 03426217 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 March 2024

for

Modlit Precision Tooling Limited

Modlit Precision Tooling Limited (Registered number: 03426217)






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 Precision Tooling 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: 03426217 (England and Wales)





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

Modlit Precision Tooling Limited (Registered number: 03426217)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,442 2,381

CURRENT ASSETS
Stocks 20,000 20,000
Debtors 5 392,357 382,811
Cash at bank 37,914 21,117
450,271 423,928
CREDITORS
Amounts falling due within one year 6 114,123 85,066
NET CURRENT ASSETS 336,148 338,862
TOTAL ASSETS LESS CURRENT
LIABILITIES

337,590

341,243

CREDITORS
Amounts falling due after more than one year 7 11,667 21,667
NET ASSETS 325,923 319,576

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 324,923 318,576
SHAREHOLDERS' FUNDS 325,923 319,576

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 Precision Tooling Limited (Registered number: 03426217)

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

1. STATUTORY INFORMATION

Modlit Precision Tooling 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 received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has been transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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 - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 Precision Tooling Limited (Registered number: 03426217)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 14,625
DEPRECIATION
At 1 April 2023 12,244
Charge for year 939
At 31 March 2024 13,183
NET BOOK VALUE
At 31 March 2024 1,442
At 31 March 2023 2,381

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 165,695 96,632
Amounts owed by group undertakings 226,588 286,179
Other debtors 74 -
392,357 382,811

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 65,812 46,702
Taxation and social security 28,389 18,442
Other creditors 9,922 9,922
114,123 85,066

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

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Modlit Holdings Limited.