MODERN MACHINERY SUPPLIES LIMITED

Company Registration Number:
NI006595 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 December 2024

Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

MODERN MACHINERY SUPPLIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Notes

MODERN MACHINERY SUPPLIES LIMITED

Balance sheet

As at 31 December 2024


Notes
2024
2023


£
£
Fixed assets
Tangible assets: 3 28,339 14,075
Total fixed assets: 28,339 14,075
Current assets
Stocks: 430,583 462,486
Debtors:   376,118 473,988
Cash at bank and in hand: 393,371 232,241
Total current assets: 1,200,072 1,168,715
Creditors: amounts falling due within one year: 4 (786,287) (822,628)
Net current assets (liabilities): 413,785 346,087
Total assets less current liabilities: 442,124 360,162
Provision for liabilities: (7,085) (3,519)
Total net assets (liabilities): 435,039 356,643
Capital and reserves
Called up share capital: 24,060 24,060
Other reserves: (633,959) (633,959)
Profit and loss account: 1,044,938 966,542
Shareholders funds: 435,039 356,643

The notes form part of these financial statements

MODERN MACHINERY SUPPLIES LIMITED

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 13 June 2025
and signed on behalf of the board by:

Name: Mr Gary Hunter
Status: Director

The notes form part of these financial statements

MODERN MACHINERY SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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.

Tangible fixed assets and depreciation policy

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 - 25% straight line Motor vehicles - 20% 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.

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

MODERN MACHINERY SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

2. Employees

2024 2023
Average number of employees during the period 12 12

MODERN MACHINERY SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible Assets

Total
Cost £
At 01 January 2024 127,206
Additions 21,400
Disposals (14,760)
At 31 December 2024 133,846
Depreciation
At 01 January 2024 113,131
Charge for year 7,136
On disposals (14,760)
At 31 December 2024 105,507
Net book value
At 31 December 2024 28,339
At 31 December 2023 14,075

MODERN MACHINERY SUPPLIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Creditors: amounts falling due within one year note

Trade creditors £674,618 (£703,567 :2023) Accruals and deferred income £12,600 (£24,900 :2023) Corporation tax £61,228 (£54,469 :2023) Social security and other taxes £29,107 (£29,379 :2023) Director loan accounts £510 (£1,843 :2023) Other creditors £8,224 (£8,470 :2023) Total £786,287 (£822,628 :2023)