Company No:
Contents
DIRECTOR | Dr R Willson |
SECRETARY | Mrs M Willson |
REGISTERED OFFICE | 1 Davy Road |
Derriford | |
Plymouth | |
Devon | |
PL6 8BX | |
Plymouth | |
United Kingdom |
COMPANY NUMBER | 06944501 (England and Wales) |
ACCOUNTANT | Shaw Gibbs Limited |
Wey Court West | |
Union Road | |
Farnham | |
Surrey | |
GU9 7PT |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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Investments | 5 |
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42,579 | 52,870 | |||
Current assets | ||||
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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656,005 | 676,320 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 592,493 | 522,861 | ||
Total assets less current liabilities | 635,072 | 575,731 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Modus Laboratories Limited (registered number:
Dr R Willson
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Modus Laboratories Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Davy Road, Derriford, Plymouth, Devon, PL6 8BX, Plymouth, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
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.
Leasehold improvements |
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depreciated over the life of the lease | |
Tools and equipment |
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Computer equipment |
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The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
The company operates a defined contribution scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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2024 | 2023 | ||
£ | £ | ||
Amounts recognised as distributions to equity holders in the financial year: | |||
Dividends of £60 per ordinary share were paid during the year | 60,000 | 55,000 | |
Leasehold improve- ments |
Tools and equipment | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 April 2023 |
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Additions |
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At 31 March 2024 |
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Accumulated depreciation | |||||||
At 01 April 2023 |
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Charge for the financial year |
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At 31 March 2024 |
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Net book value | |||||||
At 31 March 2024 |
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At 31 March 2023 |
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Listed investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 April 2023 |
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Movement in fair value |
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At 31 March 2024 |
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Carrying value at 31 March 2024 |
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Carrying value at 31 March 2023 |
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The fair value of listed investments was determined with reference to the quoted market price at the reporting date.
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Prepayments |
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Corporation tax |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to director |
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Accruals |
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Other taxation and social security |
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Other creditors |
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Other financial commitments
2024 | 2023 | ||
£ | £ | ||
Minimum lease payments under non-cancellable operating leases - within one year | 17,024 | 8,205 | |
Minimum lease payments under non-cancellable operating leases - between one and five years | 28,275 | 0 | |
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