REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Period 31 August 2024 to 31 December 2024 |
for |
Modal Capital LLP |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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: |
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: |
Modal Capital LLP (Registered number: OC448917) |
Income Statement |
for the Period 31 August 2024 to 31 December 2024 |
£ |
TURNOVER |
Administrative expenses |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
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 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 were approved by the members of the LLP and authorised for issue on |
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 |
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 |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
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 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed to group undertakings |
Other creditors |
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. |