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REGISTERED NUMBER: OC448917 (England and Wales)















Report of the Members and

Unaudited Financial Statements

for the Period 31 August 2024 to 31 December 2024

for

Modal Capital LLP

Modal Capital LLP (Registered number: OC448917)






Contents of the Financial Statements
for the Period 31 August 2024 to 31 December 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Modal Capital LLP

General Information
for the Period 31 August 2024 to 31 December 2024







DESIGNATED MEMBERS: M B Baker
N V Schiloff
M T Sherlock





REGISTERED OFFICE: 27 Old Gloucester Street
London
WC1N 3AX





REGISTERED NUMBER: OC448917 (England and Wales)





ACCOUNTANTS: Elemental CoSec Limited
27 Old Gloucester Street
London
WC1N 3AX

Modal Capital LLP (Registered number: OC448917)

Report of the Members
for the Period 31 August 2024 to 31 December 2024

The members present their report with the financial statements of the LLP for the period 31 August 2024 to 31 December 2024.

INCORPORATION
The LLP was incorporated on 31 August 2024 and commenced trading on the same date.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the period under review was that of providing management consultancy services.

DESIGNATED MEMBERS
The designated members during the period under review were:

M B Baker
N V Schiloff
H A Scillitoe
M T Sherlock

H A Scillitoe resigned as a member on 30 September 2024.

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS
The profit for the period before members' remuneration and profit shares was £NIL.

MEMBERS' INTERESTS
The partners participate fully in the partnership's financial position and share the risks. Partners profit share allocations are set in accordance with the partnership agreement.

GOING CONCERN
The membership consider the partnership to be a going concern and the accounts are prepared on this basis. Details of this are shown in Note 2 of the financial statements.

ON BEHALF OF THE MEMBERS:





N V Schiloff - Designated member


3 April 2025

Modal Capital LLP (Registered number: OC448917)

Income Statement
for the Period 31 August 2024 to 31 December 2024

£   

TURNOVER 8,401

Administrative expenses 8,401
OPERATING PROFIT and
PROFIT FOR THE FINANCIAL
PERIOD BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION
AMONG MEMBERS





-

Modal Capital LLP (Registered number: OC448917)

Balance Sheet
31 December 2024

Notes £    £   
FIXED ASSETS
Investments 4 1

CURRENT ASSETS
Debtors 5 2,601
Cash at bank 1,086
3,687
CREDITORS
Amounts falling due within one year 6 2,431
NET CURRENT ASSETS 1,256
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,257

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

1,257

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 1,257

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31 December 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Modal Capital LLP (Registered number: OC448917)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 3 April 2025 and were signed by:





N V Schiloff - Designated member

Modal Capital LLP (Registered number: OC448917)

Notes to the Financial Statements
for the Period 31 August 2024 to 31 December 2024

1. STATUTORY INFORMATION

Modal Capital LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the amount derived from provision of services which fall within the LLP's principal activity, stated net of value added tax.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Going concern
After reviewing the partnership's financial situation, the members have a reasonable expectation that the partnership has adequate resources, including the continuing financial support of its group lender, to continue in operational existence for the foreseeable future.The partnership therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL.

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
Additions 1
At 31 December 2024 1
NET BOOK VALUE
At 31 December 2024 1

Modal Capital LLP (Registered number: OC448917)

Notes to the Financial Statements - continued
for the Period 31 August 2024 to 31 December 2024

4. FIXED ASSET INVESTMENTS - continued

The investment comprises the purchase of company shares in Modal Property Limited for the nominal value of £1.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 2,601

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed to group undertakings 2,155
Other creditors 276
2,431

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other amounts due to members represent the capital introduced into the partnership by the members upon incorporation as working capital. These amounts will be repaid in the future when funds become available.