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Registered number: SC668314
Moda Ceramics Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC668314
31 December 2024 31 December 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,687 11,645
6,687 11,645
CURRENT ASSETS
Stock 5 50,291 24,250
Debtors 6 27,037 35,822
Cash at bank and in hand 118,016 31,590
195,344 91,662
Creditors: Amounts Falling Due Within One Year 7 (188,693 ) (193,124 )
NET CURRENT ASSETS (LIABILITIES) 6,651 (101,462 )
TOTAL ASSETS LESS CURRENT LIABILITIES 13,338 (89,817 )
NET ASSETS/(LIABILITIES) 13,338 (89,817 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 13,336 (89,819 )
SHAREHOLDERS' FUNDS 13,338 (89,817)
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs L J Denham
Director
10 June 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Moda Ceramics Limited is a private company, limited by shares, incorporated in Scotland, registered number SC668314 . The registered office is 29 West Way Business Park, Dalgety Bay, Dunfermline, KY11 9AE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% straight line
Office and Computer Equipment 33.3% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Leasehold Office and Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 1,725 13,838 15,563
As at 31 December 2024 1,725 13,838 15,563
Depreciation
As at 1 January 2024 288 3,630 3,918
Provided during the period 345 4,613 4,958
As at 31 December 2024 633 8,243 8,876
Net Book Value
As at 31 December 2024 1,092 5,595 6,687
As at 1 January 2024 1,437 10,208 11,645
5. Stock
31 December 2024 31 December 2023
£ £
Stock 50,291 24,250
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6. Debtors
31 December 2024 31 December 2023
£ £
Due within one year
Trade debtors 20,695 34,104
Other debtors 6,342 1,718
27,037 35,822
7. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 December 2023
£ £
Trade creditors 75,884 67,419
Other loans 26,961 21,055
Other creditors 18,084 65,289
Taxation and social security 67,764 39,361
188,693 193,124
8. Share Capital
31 December 2024 31 December 2023
£ £
Allotted, Called up and fully paid 2 2
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