Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-302025-05-1542023-10-01false4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04489336 2023-10-01 2024-09-30 04489336 2022-10-01 2023-09-30 04489336 2024-09-30 04489336 2023-09-30 04489336 c:Director1 2023-10-01 2024-09-30 04489336 d:Buildings 2024-09-30 04489336 d:Buildings 2023-09-30 04489336 d:Buildings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04489336 d:FurnitureFittings 2023-10-01 2024-09-30 04489336 d:FurnitureFittings 2024-09-30 04489336 d:FurnitureFittings 2023-09-30 04489336 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04489336 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04489336 d:Goodwill 2023-10-01 2024-09-30 04489336 d:Goodwill 2024-09-30 04489336 d:Goodwill 2023-09-30 04489336 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 04489336 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 04489336 d:ShareCapital 2024-09-30 04489336 d:ShareCapital 2023-09-30 04489336 d:RetainedEarningsAccumulatedLosses 2024-09-30 04489336 d:RetainedEarningsAccumulatedLosses 2023-09-30 04489336 c:FRS102 2023-10-01 2024-09-30 04489336 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 04489336 c:FullAccounts 2023-10-01 2024-09-30 04489336 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 04489336 6 2023-10-01 2024-09-30 04489336 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 04489336










MODIPLUS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
MODIPLUS LIMITED
REGISTERED NUMBER: 04489336

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 3 
1
1

Tangible assets
 4 
424,793
424,828

Investments
 5 
900,000
700,000

  
1,324,794
1,124,829

Current assets
  

Debtors
  
192,144
399,042

Cash at bank and in hand
  
601,256
437,560

  
793,400
836,602

Creditors: amounts falling due within one year
  
(166,339)
(92,444)

Net current assets
  
 
 
627,061
 
 
744,158

Total assets less current liabilities
  
1,951,855
1,868,987

Provisions for liabilities
  

Deferred tax
  
(35)
(43)

  
 
 
(35)
 
 
(43)

Net assets
  
1,951,820
1,868,944


Capital and reserves
  

Called up share capital 
  
10,100
10,100

Profit and loss account
  
1,941,720
1,858,844

  
1,951,820
1,868,944


Page 1

 
MODIPLUS LIMITED
REGISTERED NUMBER: 04489336
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 May 2025.




Mr Umesh Jamnadas Modi
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MODIPLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Modiplus Limited is a private company, limited by share capital, incorporated in England and Wales under registration number: 04489336. The address of the registered office is Level 5A, Maple House, 149 Tottenham Court Road, London W1T 7NF. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
MODIPLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

Page 4

 
MODIPLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures, fittings and equipment
-
20%
reducing balance

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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
MODIPLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.


Intangible assets




Goodwill

£



Cost


At 1 October 2023
400,000



At 30 September 2024

400,000



Amortisation


At 1 October 2023
399,999



At 30 September 2024

399,999



Net book value



At 30 September 2024
1



At 30 September 2023
1



Page 6

 
MODIPLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Freehold property
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 October 2023
424,654
666
425,320



At 30 September 2024

424,654
666
425,320



Depreciation


At 1 October 2023
-
492
492


Charge for the year on owned assets
-
35
35



At 30 September 2024

-
527
527



Net book value



At 30 September 2024
424,654
139
424,793



At 30 September 2023
424,654
174
424,828

In the opinion of the directors', the aggregate open market value of the property is £424,654 the value shown in the accounts.


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 October 2023
700,000


Additions
200,000



At 30 September 2024
900,000




Page 7

 
MODIPLUS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Controlling party

The company was under the control of Mr Umesh Jamnadas Modi (51% share) and his wife Mrs Rita Modi (25% share), by virtue of the fact that between them they own 76% of the issued share capital. 

 
Page 8