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REGISTERED NUMBER: 15107713 (England and Wales)















Unaudited Financial Statements

for the Period 31 August 2023 to 31 December 2024

for

Modal Property Limited

Modal Property Limited (Registered number: 15107713)






Contents of the Financial Statements
for the Period 31 August 2023 to 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Modal Property Limited

Company Information
for the Period 31 August 2023 to 31 December 2024







DIRECTORS: M B Baker
N V Schiloff
M T Sherlock





REGISTERED OFFICE: 27 Old Gloucester Street
London
WC1N 3AX





REGISTERED NUMBER: 15107713 (England and Wales)





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

Modal Property Limited (Registered number: 15107713)

Balance Sheet
31 December 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 13,523

CURRENT ASSETS
Debtors 5 41,342
Cash at bank 181,573
222,915
CREDITORS
Amounts falling due within one year 6 204,479
NET CURRENT ASSETS 18,436
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,959

CAPITAL AND RESERVES
Called up share capital 1
Retained earnings 31,958
SHAREHOLDERS' FUNDS 31,959

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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.

Modal Property Limited (Registered number: 15107713)

Balance Sheet - continued
31 December 2024


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 3 April 2025 and were signed on its behalf by:





N V Schiloff - Director


Modal Property Limited (Registered number: 15107713)

Notes to the Financial Statements
for the Period 31 August 2023 to 31 December 2024

1. STATUTORY INFORMATION

Modal Property 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 (£).


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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office Equipment - 20% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

Modal Property Limited (Registered number: 15107713)

Notes to the Financial Statements - continued
for the Period 31 August 2023 to 31 December 2024

4. TANGIBLE FIXED ASSETS
Office Computer
Equipment equipment Totals
£    £    £   
COST
Additions 2,252 12,662 14,914
At 31 December 2024 2,252 12,662 14,914
DEPRECIATION
Charge for period 188 1,203 1,391
At 31 December 2024 188 1,203 1,391
NET BOOK VALUE
At 31 December 2024 2,064 11,459 13,523

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed by group undertakings 2,155
Other debtors 39,187
41,342

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 33,359
Taxation and social security 166,245
Other creditors 4,875
204,479

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
£   
Within one year 43,973
Between one and five years 4,595
48,568

Modal Property Limited (Registered number: 15107713)

Notes to the Financial Statements - continued
for the Period 31 August 2023 to 31 December 2024

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Modal Capital LLP, a limited liability partnership incorporated in England and Wales whose registered office is 27 Old Gloucester Street, London, WC1N 3AX.

Modal Capital LLP is the General Partner of Modal Property Limited.