1 February 2024 false No description of principal activity Taxfiler 2024.6 10546455 business:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 10546455 2024-01-31 10546455 2024-02-01 2025-01-31 10546455 business:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 10546455 business:FilletedAccounts 2024-02-01 2025-01-31 10546455 2025-01-31 10546455 business:Director1 2024-02-01 2025-01-31 10546455 business:RegisteredOffice 2024-02-01 2025-01-31 10546455 2024-01-31 10546455 core:WithinOneYear 2025-01-31 10546455 core:WithinOneYear 2024-01-31 10546455 core:ShareCapital core:PreviouslyStatedAmount 2025-01-31 10546455 core:ShareCapital core:PreviouslyStatedAmount 2024-01-31 10546455 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2025-01-31 10546455 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2024-01-31 10546455 core:PreviouslyStatedAmount 2025-01-31 10546455 core:PreviouslyStatedAmount 2024-01-31 10546455 business:SmallEntities 2024-02-01 2025-01-31 10546455 countries:EnglandWales 2024-02-01 2025-01-31 10546455 core:IntangibleAssetsOtherThanGoodwill 2024-01-31 10546455 core:IntangibleAssetsOtherThanGoodwill 2025-01-31 10546455 business:Director1 1 2024-02-01 2025-01-31 10546455 business:Director1 1 2024-01-31 10546455 business:Director1 1 2025-01-31 10546455 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
Company Registration No. 10546455 (England and Wales)
Modern Finance Ltd Unaudited accounts for the year ended 31 January 2025
Modern Finance Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Modern Finance Ltd Company Information for the year ended 31 January 2025
Director
Olivia Meyers
Company Number
10546455 (England and Wales)
Registered Office
28 Middlepeak Way Sheffield England S13 9DL United Kingdom
Accountants
Taxsense 203 West Street Fareham Hants PO16 0EN
- 3 -
Modern Finance Ltd Statement of financial position as at 31 January 2025
2025
2024
Notes
£
£
Fixed assets
Intangible assets
4
727
727
Current assets
Cash at bank and in hand
2,866
975
Creditors: amounts falling due within one year
5
(1,564)
(2,059)
Net current assets/(liabilities)
1,302
(1,084)
Net assets/(liabilities)
2,029
(357)
Capital and reserves
Called up share capital
1
1
Profit and loss account
2,028
(358)
Shareholders' funds
2,029
(357)
For the year ending 31 January 2025 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 June 2025 and were signed on its behalf by
Olivia Meyers Director Company Registration No. 10546455
- 4 -
Modern Finance Ltd Notes to the Accounts for the year ended 31 January 2025
1
Statutory information
Modern Finance Ltd is a private company, limited by shares, registered in England and Wales, registration number 10546455. The registered office is 28 Middlepeak Way, Sheffield, England, S13 9DL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
£
Cost
At 1 February 2024
727
At 31 January 2025
727
Amortisation
At 1 February 2024
-
At 31 January 2025
-
Net book value
At 31 January 2025
727
At 31 January 2024
727
5
Creditors: amounts falling due within one year
2025
2024
£
£
Taxes and social security
451
-
Loans from directors
756
1,909
Accruals
357
150
1,564
2,059
- 5 -
Modern Finance Ltd Notes to the Accounts for the year ended 31 January 2025
6
Loans to directors
Brought Forward
Advance/ credit
Repaid
Carried Forward
£
£
£
£
Olivia Meyers
Directors's loan account
(1,909)
(364)
(1,517)
(756)
(1,909)
(364)
(1,517)
(756)
7
Average number of employees
During the year the average number of employees was 1 (2024: 1).
- 6 -