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Company No: 10475938 (England and Wales)

MODELMATIC LTD

Unaudited Financial Statements
For the financial year ended 30 November 2024
Pages for filing with the registrar

MODELMATIC LTD

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

MODELMATIC LTD

COMPANY INFORMATION

For the financial year ended 30 November 2024
MODELMATIC LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2024
DIRECTOR Jonathan Irvine
REGISTERED OFFICE Unit 47 James Street
York
YO10 3DW
United Kingdom
COMPANY NUMBER 10475938 (England and Wales)
ACCOUNTANT Ian Walker and Co
Wellington House
Aviator Court
Clifton Moor
York
YO30 4UZ
MODELMATIC LTD

BALANCE SHEET

As at 30 November 2024
MODELMATIC LTD

BALANCE SHEET (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 499 0
499 0
Current assets
Stocks 400,000 0
Debtors 4 4,313 0
Cash at bank and in hand 5 69,722 0
474,035 0
Creditors: amounts falling due within one year 6 ( 422,131) 0
Net current assets 51,904 0
Total assets less current liabilities 52,403 0
Net assets 52,403 0
Capital and reserves
Called-up share capital 7 1 0
Profit and loss account 52,402 0
Total shareholder's funds 52,403 0

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Modelmatic Ltd (registered number: 10475938) were approved and authorised for issue by the Director on 27 August 2025. They were signed on its behalf by:

Jonathan Irvine
Director
MODELMATIC LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
MODELMATIC LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Modelmatic Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 47 James Street, York, YO10 3DW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 December 2023 0 0
Additions 566 566
At 30 November 2024 566 566
Accumulated depreciation
At 01 December 2023 0 0
Charge for the financial year 67 67
At 30 November 2024 67 67
Net book value
At 30 November 2024 499 499
At 30 November 2023 0 0

4. Debtors

2024 2023
£ £
Trade debtors 2,666 0
Other debtors 1,647 0
4,313 0

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 69,722 0

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 13,571 0
Amounts owed to Group undertakings 372,834 0
Taxation and social security 33,244 0
Other creditors 2,482 0
422,131 0

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1