REGISTERED NUMBER: OC434730 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MODUS RE LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

Feenyx Ltd

JAB Squared Limited

K2W Ltd

Domege Construction Services Limited

REGISTERED OFFICE:

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

REGISTERED NUMBER:

OC434730 (England and Wales)

ACCOUNTANTS:

Lawes & Co

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

The members present their report with the financial statements of the LLP for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of engineering consultancy.

DESIGNATED MEMBERS

The designated members during the year under review were:

Feenyx Ltd

JAB Squared Limited

MSJ Project Ltd

K2W Ltd

Domege Construction Services Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £1,054,309 (2023 - £679,526 profit).

MEMBERS' INTERESTS

The capital requisite for carrying on this business of the LLP shall be agreed and contributed by the members from time to time. The total amount of and the respective contributions of the members to the fixed capital of the LLP shall be in the shares in which they are entitled to the net profits of the LLP.

ON BEHALF OF THE MEMBERS:

Feenyx Ltd - Designated member

12 September 2025

TURNOVER

3,890,503

2,754,828

Cost of sales

2,752,077

2,010,300

GROSS PROFIT

1,138,426

744,528

Administrative expenses

84,117

65,002

OPERATING PROFIT and

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES

1,054,309

679,526

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES

1,054,309

679,526

Members' remuneration charged as an expense

5

(1,054,309

)

(679,526

)

PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

-

-

FIXED ASSETS

Tangible assets

7

1,747

1,023

CURRENT ASSETS

Debtors

8

608,579

1,231,049

Cash at bank and in hand

340,849

327,366

949,428

1,558,415

CREDITORS

Amounts falling due within one year

9

466,903

644,475

NET CURRENT ASSETS

482,525

913,940

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

484,272

914,963

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

484,272

914,963

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

484,272

914,963

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 December 2024.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

The financial statements were approved by the members of the LLP and authorised for issue on 12 September 2025 and were signed by:

Feenyx Ltd - Designated member

1.	STATUTORY INFORMATION

Modus RE LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.12.24

31.12.23

as

restated

£

£

Depreciation - owned assets

959

566

5.	INFORMATION IN RELATION TO MEMBERS

31.12.24

31.12.23

as

restated

£

£

Members' remuneration charged as an expense

Automatic division of profit

1,054,309

679,526

6.	PRIOR YEAR ADJUSTMENTS

These financial statements present restated comparative figures for the inclusion of a customer credit note that related entirely to the year ended 31 December 2023. The credit note value of £62,824 was raised in December 2024, reducing Revenue and Debtors accordingly.

7.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

1,936

Additions

1,683

At 31 December 2024

3,619

DEPRECIATION

At 1 January 2024

913

Charge for year

959

At 31 December 2024

1,872

NET BOOK VALUE

At 31 December 2024

1,747

At 31 December 2023

1,023

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as

restated

£

£

Trade debtors

549,591

963,050

Other debtors

58,988

267,999

608,579

1,231,049

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

as

restated

£

£

Trade creditors

411,228

558,054

Taxation and social security

25,627

27,431

Other creditors

30,048

58,990

466,903

644,475

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.

11.	RELATED PARTY DISCLOSURES

Unless otherwise disclosed, all transactions involving related parties are conducted under normal market conditions.