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REGISTERED NUMBER: 10102864 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MODULA STORAGE SOLUTIONS LIMITED

MODULA STORAGE SOLUTIONS LIMITED (REGISTERED NUMBER: 10102864)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MODULA STORAGE SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: J J Farren
M Gigli
G Cariani



REGISTERED OFFICE: 38 Craven Street
London
WC2N 5NG



REGISTERED NUMBER: 10102864 (England and Wales)



SENIOR STATUTORY AUDITOR: Tony Castagnetti



AUDITORS: Belluzzo Audit Limited
Chartered Accountants and Statutory Auditors
38 Craven Street
London
WC2N 5NG

MODULA STORAGE SOLUTIONS LIMITED (REGISTERED NUMBER: 10102864)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 14,778 17,961

CURRENT ASSETS
Stocks 5 271,393 275,117
Debtors 6 999,526 578,345
Cash at bank 1,301,846 2,169,204
2,572,765 3,022,666
CREDITORS
Amounts falling due within one year 7 (1,580,371 ) (2,285,869 )
NET CURRENT ASSETS 992,394 736,797
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,007,172

754,758

PROVISIONS FOR LIABILITIES (37,316 ) (37,316 )
NET ASSETS 969,856 717,442

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 968,856 716,442
969,856 717,442

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 28 March 2025 and were signed on its behalf by:





G Cariani - Director


MODULA STORAGE SOLUTIONS LIMITED (REGISTERED NUMBER: 10102864)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Modula Storage Solutions 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sale taxes. Turnover is recognised on ownership passing to the customer which is the earlier of delivery of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & Machinery: 33.33% on cost
Exhibition machines: 15.50% on cost

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate or if there is an indication of a significant change since the last reporting date.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

MODULA STORAGE SOLUTIONS LIMITED (REGISTERED NUMBER: 10102864)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets

The company's financial assets comprise basic financial instruments, being trade and other receivables, amounts owed by group undertakings, cash and bank balances.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of no more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade, other receivable and amounts owed by group undertakings are measured at transaction price less any impairment. Any impairment loss is recognised in the Profit and Loss.

Financial assets are derecognised when contractual rights to the cash flows from the financial asset expires or are settled, or when substantially all the risks and rewards of ownership have been transferred.

Financial liabilities

The company's financial liabilities comprise of basic financial liabilities, including trade and other payables. These are initially recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled, or expires.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

MODULA STORAGE SOLUTIONS LIMITED (REGISTERED NUMBER: 10102864)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 30,034
Additions 896
At 31 December 2024 30,930
DEPRECIATION
At 1 January 2024 12,073
Charge for year 4,079
At 31 December 2024 16,152
NET BOOK VALUE
At 31 December 2024 14,778
At 31 December 2023 17,961

5. STOCKS
2024 2023
£    £   
Finished goods & spare parts 271,393 275,117

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 960,335 547,701
Other debtors 39,191 30,644
999,526 578,345

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 164,068 115,974
Amounts owed to group undertakings 589,428 1,209,223
Taxation and social security 255,342 280,310
Other creditors 571,533 680,362
1,580,371 2,285,869

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Tony Castagnetti (Senior Statutory Auditor)
for and on behalf of Belluzzo Audit Limited

MODULA STORAGE SOLUTIONS LIMITED (REGISTERED NUMBER: 10102864)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. ULTIMATE CONTROLLING PARTY

The controlling party is Modula SpA, a company incorporated in Italy.

The ultimate controlling party during the year was S.F.H. SpA, a company incorporated in Italy and registered at:

Via Racchetta, 2
41049 Sassuolo (MO)
Italy


Modula Spa prepares the consolidated accounts. Copies of the consolidated accounts can be obtained from Modula Spa.
Furthermore, consolidated accounts are also prepared by the ultimate controlling party.