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Company registration number: 08040911
Modus Logic Limited
Unaudited filleted financial statements
30 April 2025
Modus Logic Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Modus Logic Limited
Directors and other information
Directors K Mayhew
S Mayhew
Company number 08040911
Registered office Office 1 Riverside Court
24 Lower Southend Road
Wickford
SS11 8AW
Business address 282 Leigh Road
Leigh on Sea
SS9 1BW
Accountant Hill Allen (Wickford) Limited
Office 1 Riverside Court
24 Lower Southend Road
Wickford
SS11 8AW
Bankers National Westminster Bank plc
43 High street
Rayleigh
SS6 7EH
Modus Logic Limited
Statement of financial position
30 April 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 5 213 1,195
_______ _______
213 1,195
Current assets
Debtors 6 4,882 14,881
Cash at bank and in hand 3,597 5,545
_______ _______
8,479 20,426
Creditors: amounts falling due
within one year 7 ( 30,944) ( 31,698)
_______ _______
Net current liabilities ( 22,465) ( 11,272)
_______ _______
Total assets less current liabilities ( 22,252) ( 10,077)
_______ _______
Net liabilities ( 22,252) ( 10,077)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 22,352) ( 10,177)
_______ _______
Shareholders deficit ( 22,252) ( 10,077)
_______ _______
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 May 2025 , and are signed on behalf of the board by:
K Mayhew
Director
Company registration number: 08040911
Modus Logic Limited
Notes to the financial statements
Year ended 30 April 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Office 1 Riverside Court, 24 Lower Southend Road, Wickford, SS11 8AW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 May 2024 and 30 April 2025 10,165 10,165
_______ _______
Depreciation
At 1 May 2024 8,970 8,970
Charge for the year 982 982
_______ _______
At 30 April 2025 9,952 9,952
_______ _______
Carrying amount
At 30 April 2025 213 213
_______ _______
At 30 April 2024 1,195 1,195
_______ _______
6. Debtors
2025 2024
£ £
Trade debtors 4,800 14,400
Other debtors 82 481
_______ _______
4,882 14,881
_______ _______
7. Creditors: amounts falling due within one year
2025 2024
£ £
Social security and other taxes 1 774
Other creditors 30,943 30,924
_______ _______
30,944 31,698
_______ _______
8. Controlling party
The company is controlled by the director K Mayhew .