1 September 2023 false No description of principal activity Taxfiler 2024.6 true 14269058business:PrivateLimitedCompanyLtd2023-09-012024-08-31 142690582023-08-31 142690582023-09-012024-08-31 14269058business:AuditExemptWithAccountantsReport2023-09-012024-08-31 14269058business:FilletedAccounts2023-09-012024-08-31 142690582024-08-31 14269058business:Director22023-09-012024-08-31 14269058business:RegisteredOffice2023-09-012024-08-31 142690582023-08-31 14269058core:WithinOneYear2024-08-31 14269058core:WithinOneYear2023-08-31 14269058core:AfterOneYear2024-08-31 14269058core:AfterOneYear2023-08-31 14269058core:ShareCapitalcore:PreviouslyStatedAmount2024-08-31 14269058core:ShareCapitalcore:PreviouslyStatedAmount2023-08-31 14269058core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-08-31 14269058core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 14269058core:PreviouslyStatedAmount2024-08-31 14269058core:PreviouslyStatedAmount2023-08-31 14269058business:SmallEntities2023-09-012024-08-31 14269058countries:EnglandWales2023-09-012024-08-31 14269058core:PlantMachinery2023-09-012024-08-31 14269058core:ComputerEquipment2023-09-012024-08-31 14269058core:PlantMachinery2023-08-31 14269058core:ComputerEquipment2023-08-31 14269058core:PlantMachinery2024-08-31 14269058core:ComputerEquipment2024-08-31 14269058core:BetweenOneFiveYears2024-08-31 14269058core:BetweenOneFiveYears2023-08-31 14269058business:Director12023-09-012024-08-31 14269058business:Director112023-09-012024-08-31 14269058business:Director112023-08-31 14269058business:Director112024-08-31 142690582022-08-022023-08-31 iso4217:GBP xbrli:pure
Company Registration No. 14269058 (England and Wales)
Modular Build Group Ltd Unaudited accounts for the year ended 31 August 2024
Modular Build Group Ltd Unaudited accounts Contents
Page
- 2 -
Modular Build Group Ltd Company Information for the year ended 31 August 2024
Director
Joley Thomas
Company Number
14269058 (England and Wales)
Registered Office
124 City Road London EC1V 2NX England
Accountants
Janes Accounting Services Limited 9 Church Hams Finchampstead Wokingham Berkshire RG40 4XF
- 3 -
Modular Build Group Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
67,692 
51,544 
Current assets
Inventories
9,442 
- 
Debtors
62,167 
45,481 
Cash at bank and in hand
12,475 
6,512 
84,084 
51,993 
Creditors: amounts falling due within one year
(275,599)
(151,089)
Net current liabilities
(191,515)
(99,096)
Total assets less current liabilities
(123,823)
(47,552)
Creditors: amounts falling due after more than one year
(33,038)
- 
Provisions for liabilities
Deferred tax
(14,458)
(9,794)
Net liabilities
(171,319)
(57,346)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(171,320)
(57,347)
Shareholders' funds
(171,319)
(57,346)
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 2 April 2025 and were signed on its behalf by
Joley Thomas Director Company Registration No. 14269058
- 4 -
Modular Build Group Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Modular Build Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 14269058. The registered office is 124 City Road, London, EC1V 2NX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Computer equipment
20% reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
- 5 -
Modular Build Group Ltd Notes to the Accounts for the year ended 31 August 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Going concern
The directors have identified material uncertainties related to the ability of the company to pay its debts as they fall due. The company incurred a net loss of £113,973 during the year ended 31 August 2024 and, as of that date, the company’s current liabilities exceeded its total assets by £171,319. These conditions, cast significant doubt about the company's ability to continue as a Going Concern, however, the directors consider the going concern basis remains appropriate for the foreseeable future (limited to 12 months from the date of approval of these accounts) whilst the directors continue to seek solutions including but not limited to payment plans with its major creditors.
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2023
64,057 
374 
64,431 
Additions
45,676 
- 
45,676 
Disposals
(15,757)
- 
(15,757)
At 31 August 2024
93,976 
374 
94,350 
Depreciation
At 1 September 2023
12,812 
75 
12,887 
Charge for the year
17,477 
60 
17,537 
On disposals
(3,766)
- 
(3,766)
At 31 August 2024
26,523 
135 
26,658 
Net book value
At 31 August 2024
67,453 
239 
67,692 
At 31 August 2023
51,245 
299 
51,544 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
23,267 
21,326 
Accrued income and prepayments
11,722 
24,098 
Other debtors
27,178 
57 
62,167 
45,481 
- 6 -
Modular Build Group Ltd Notes to the Accounts for the year ended 31 August 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
83,898 
23,013 
Obligations under finance leases and hire purchase contracts
20,394 
- 
Trade creditors
74,703 
89,244 
Taxes and social security
83,783 
35,497 
Other creditors
11,207 
1,103 
Loans from directors
- 
982 
Accruals
1,614 
1,250 
275,599 
151,089 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
33,038 
- 
8
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 August 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
3,700 
8,845 
Later than one year and not later than five years
77,810 
6,049 
81,510 
14,894 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Luke Kieran Smith
Directors Account
- 
12,611 
- 
12,611 
- 
12,611 
- 
12,611 
Loans to directors are interest free and repayable upon demand.
10
Average number of employees
During the year the average number of employees was 9 (2023: 10).
- 7 -