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REGISTERED NUMBER: 12626134 (England and Wales)















Financial Statements

for the Year Ended 31 December 2024

for

Modern By Products UK Ltd

Modern By Products UK Ltd (Registered number: 12626134)






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


Modern By Products UK Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: H Sainsbury
D Magnussen





REGISTERED OFFICE: Pinetum
Broughton Hall Business Park
Skipton
North Yorkshire
BD23 3AE





REGISTERED NUMBER: 12626134 (England and Wales)





AUDITORS: Stirk Lambert & Co
Chartered Accountants
Statutory Auditors
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

Modern By Products UK Ltd (Registered number: 12626134)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,395 22,702

CURRENT ASSETS
Debtors 5 445,551 267,017
Cash at bank 5,330 124,431
450,881 391,448
CREDITORS
Amounts falling due within one year 6 331,598 342,969
NET CURRENT ASSETS 119,283 48,479
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,678

71,181

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 131,677 71,180
131,678 71,181

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 9 April 2025 and were signed on its behalf by:





H Sainsbury - Director


Modern By Products UK Ltd (Registered number: 12626134)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Modern By Products UK Ltd 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.

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 for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service
transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

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

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Modern By Products UK Ltd (Registered number: 12626134)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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 year was 30 (2023 - 29 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 26,541 3,517 30,058
DEPRECIATION
At 1 January 2024 7,063 293 7,356
Charge for year 7,083 3,224 10,307
At 31 December 2024 14,146 3,517 17,663
NET BOOK VALUE
At 31 December 2024 12,395 - 12,395
At 31 December 2023 19,478 3,224 22,702

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors - 909
Amounts owed by group undertakings - 236,846
Other debtors 1 1
VAT 418,421 -
Prepayments 27,129 29,261
445,551 267,017

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 31,516 35,446
Amounts owed to group undertakings 190,415 -
Tax 24,586 19,439
Social security and other taxes 50,443 51,543
VAT - 90,235
Accrued expenses 34,638 146,306
331,598 342,969

Modern By Products UK Ltd (Registered number: 12626134)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 32,500 58,917
Between one and five years 192,000 224,500
224,500 283,417

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

The Report of the Auditors was unqualified.

Richard Hudson (Senior Statutory Auditor)
for and on behalf of Stirk Lambert & Co

9. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is MBP Group Holding Limited, a company incorporated in Switzerland.The registered office address is Rue du Crêt-Taconnet 13 Neuchâtel, 2000 Switzerland.

The ultimate parent company is David Magnussen Holding SA a company registered in Switzerland. The registered office address is Rue du Crêt-Taconnet 13 Neuchâtel, 2000 Switzerland.

The ultimate controlling individual is David Magnussen a Switzerland resident.