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REGISTERED NUMBER: 08922847 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Modern Unique Developments Limited

Modern Unique Developments Limited (Registered number: 08922847)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


Modern Unique Developments Limited (Registered number: 08922847)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 76,113 84,066

CURRENT ASSETS
Stocks 4,689,653 2,100,000
Debtors 5 274,293 247,910
Cash at bank 55,701 525,963
5,019,647 2,873,873
CREDITORS
Amounts falling due within one year 6 4,898,153 2,386,688
NET CURRENT ASSETS 121,494 487,185
TOTAL ASSETS LESS CURRENT LIABILITIES 197,607 571,251

CREDITORS
Amounts falling due after more than one year 7 (978,082 ) (738,405 )

PROVISIONS FOR LIABILITIES - (10,398 )
NET LIABILITIES (780,475 ) (177,552 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (780,575 ) (177,652 )
SHAREHOLDERS' FUNDS (780,475 ) (177,552 )

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 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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





Mr T P Hatton - Director


Modern Unique Developments Limited (Registered number: 08922847)

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

1. STATUTORY INFORMATION

Modern Unique Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08922847

Registered office: The Grange
Moss Lane
Ollerton
Knutsford
Cheshire
WA16 8SH

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.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 Profit & Loss Account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Modern Unique Developments Limited (Registered number: 08922847)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 131,803 131,000 1,590 264,393
Additions - 15,805 - 15,805
Disposals - - (1,040 ) (1,040 )
At 31 March 2024 131,803 146,805 550 279,158
DEPRECIATION
At 1 April 2023 107,498 71,244 1,585 180,327
Charge for year 4,862 18,891 5 23,758
Eliminated on disposal - - (1,040 ) (1,040 )
At 31 March 2024 112,360 90,135 550 203,045
NET BOOK VALUE
At 31 March 2024 19,443 56,670 - 76,113
At 31 March 2023 24,305 59,756 5 84,066

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,115 -
Amounts owed by group undertakings 166,472 -
Other debtors 104,706 247,910
274,293 247,910

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,082,272 8,200
Trade creditors 92,883 24,083
Amounts owed to group undertakings - 5,692
Taxation and social security 7,507 11,725
Other creditors 2,715,491 2,336,988
4,898,153 2,386,688

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 978,082 738,405

Modern Unique Developments Limited (Registered number: 08922847)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 3,060,354 746,605

The bank loan is secured by means of a fixed and floating charge over the assets of the company.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr T P Hatton
Balance outstanding at start of year 201,317 64,966
Amounts advanced 106,000 156,031
Amounts repaid (240,680 ) (19,680 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 66,637 201,317

Mr M J Taylor
Balance outstanding at start of year 31,259 (21,932 )
Amounts advanced 91,500 88,031
Amounts repaid (105,840 ) (34,840 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,919 31,259