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REGISTERED NUMBER: 05934955 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

MODUS UK LIMITED

MODUS UK LIMITED (REGISTERED NUMBER: 05934955)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MODUS UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: J P Brown
L Hartley





REGISTERED OFFICE: Mayfield House
Lower Railway Road
Ilkley
West Yorkshire
LS29 8FL





REGISTERED NUMBER: 05934955 (England and Wales)





ACCOUNTANTS: Brosnans
Chartered Accountants
Suite 1, Aireside House
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ

MODUS UK LIMITED (REGISTERED NUMBER: 05934955)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 2,235,941 1,949,678
Tangible assets 5 146,358 60,173
2,382,299 2,009,851

CURRENT ASSETS
Stocks 53,728 56,104
Debtors 6 127,856 375,819
Prepayments and accrued income 631,818 660,073
Cash at bank 300,367 170,111
1,113,769 1,262,107
CREDITORS
Amounts falling due within one year 7 (2,251,672 ) (2,352,856 )
NET CURRENT LIABILITIES (1,137,903 ) (1,090,749 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,244,396

919,102

CREDITORS
Amounts falling due after more than
one year

8

(253,668

)

(364,451

)
NET ASSETS 990,728 554,651

MODUS UK LIMITED (REGISTERED NUMBER: 05934955)

BALANCE SHEET - continued
30 JUNE 2024

2024 2023
Notes £ £
CAPITAL AND RESERVES
Called up share capital 10 190,000 190,000
Retained earnings 800,728 364,651
SHAREHOLDERS' FUNDS 990,728 554,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





L Hartley - Director


MODUS UK LIMITED (REGISTERED NUMBER: 05934955)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Modus Uk 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

The financial statements have been prepared on the going concern basis, despite the company having negative reserves as the directors believe that current trading will remedy the situation.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows:

Development expenditure - 5 years

Provision is made for any impairment.

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.
Fixtures and fittings - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

MODUS UK LIMITED (REGISTERED NUMBER: 05934955)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

SCHEME SET UP COSTS
Expenditure incurred in developing the schemes which enable the company to offer its' services are incurred over a period of time, and will be written off over a period of five years.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2023 - 68 ) .

MODUS UK LIMITED (REGISTERED NUMBER: 05934955)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. INTANGIBLE FIXED ASSETS
Development
costs
£
COST
At 1 July 2023 2,870,515
Additions 481,230
At 30 June 2024 3,351,745
AMORTISATION
At 1 July 2023 920,837
Amortisation for year 194,967
At 30 June 2024 1,115,804
NET BOOK VALUE
At 30 June 2024 2,235,941
At 30 June 2023 1,949,678

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 July 2023 35,795 326,520 362,315
Additions 12,241 116,741 128,982
At 30 June 2024 48,036 443,261 491,297
DEPRECIATION
At 1 July 2023 31,780 270,362 302,142
Charge for year 4,064 38,733 42,797
At 30 June 2024 35,844 309,095 344,939
NET BOOK VALUE
At 30 June 2024 12,192 134,166 146,358
At 30 June 2023 4,015 56,158 60,173

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 127,856 375,819

MODUS UK LIMITED (REGISTERED NUMBER: 05934955)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 79,907 75,000
Hire purchase contracts 8,457 -
Trade creditors 1,070,827 990,280
Taxation and social security 210,757 529,669
Other creditors 881,724 757,907
2,251,672 2,352,856

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 81,250 156,250
Hire purchase contracts 35,831 -
Other creditors 136,587 208,201
253,668 364,451

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 44,288 -

Other creditors secured by a personal guarantee from the directors.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
50,000 Ordinary £1 50,000 50,000
28,000 Redeemable preference shares £5 140,000 140,000
190,000 190,000

11. OTHER FINANCIAL COMMITMENTS

The company has lease commitments for operating leases of £214,420.