ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

Registered number: NI039519

Modern Office Supplies (NI) Limited

Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2025

Modern Office Supplies (NI) Limited

Registered number: NI039519

Balance Sheet

As at 31 March 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	5		57,890		52,316
			57,890		52,316
Current assets
Stocks	6	133,133		140,321
Debtors: amounts falling due within one year	7	772,270		774,002
Cash at bank and in hand	8	25,422		13,647
		930,825		927,970
Creditors: amounts falling due within one year	9	(440,174)		(416,956)
Net current assets			490,651		511,014
Total assets less current liabilities			548,541		563,330
Creditors: amounts falling due after more than one year	10		(11,449)		(13,962)
Provisions for liabilities
Deferred tax	12	(5,755)		(3,891)
			(5,755)		(3,891)
Net assets			531,337		545,477

Capital and reserves
Called up share capital	13	1,000	1,000
Profit and loss account		530,337	544,477
		531,337	545,477

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Modern Office Supplies (NI) Limited

Registered number: NI039519

Balance Sheet (continued)

As at 31 March 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 October 2025.

Rory James Robert McCurry

Director

The notes on pages 3 to 9 form part of these financial statements.

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Modern Office Supplies (NI) Limited

Notes to the Financial Statements

For the Year Ended 31 March 2025

1.	General information

Modern Office Supplies (NI) Limited is a private company limited by shares incorporated in Northern Ireland within the United Kingdom. The registration number and address of the registered office are given in the company information section of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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Modern Office Supplies (NI) Limited

Notes to the Financial Statements

For the Year Ended 31 March 2025

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis or straight-line basis.

Depreciation is provided on the following basis:

Leasehold improvements	-	2%	Reducing Balance
Motor vehicles	-	25%	Reducing Balance
Fixtures and fittings	-	25%	Reducing Balance

2.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Dividends

Equity dividends are recognised when they become legally payable.

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Modern Office Supplies (NI) Limited

Notes to the Financial Statements

For the Year Ended 31 March 2025

2.Accounting policies (continued)

2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.11

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings when it is received.

2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Employees

The average monthly number of employees, including directors, during the year was 11 (2024 - 12).

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Modern Office Supplies (NI) Limited

Notes to the Financial Statements

For the Year Ended 31 March 2025

4.	Pension commitments

The company operates a defined contribution scheme for certain employees and a separate scheme for the director. The assets of the scheme are held separately from those of the company in independently administered funds, and contributions are charged to the profit and loss account in the period to which they relate.

5.	Tangible fixed assets

	Long-term leasehold property	Motor vehicles	Fixtures and fittings	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	30,073	66,976	176,468	273,517
Additions	-	16,797	908	17,705
At 31 March 2025	30,073	83,773	177,376	291,222
Depreciation
At 1 April 2024	9,696	44,519	166,986	221,201
Charge for the year on owned assets	404	9,181	2,546	12,131
At 31 March 2025	10,100	53,700	169,532	233,332
Net book value
At 31 March 2025	19,973	30,073	7,844	57,890
At 31 March 2024	20,377	22,457	9,482	52,316

6.	Stocks
		2025	2024
		£	£

Finished goods and goods for resale	133,133	140,321
	133,133	140,321

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Modern Office Supplies (NI) Limited

Notes to the Financial Statements

For the Year Ended 31 March 2025

Debtors

					2025	2024
					£	£


Trade debtors	292,505	294,820
Amounts owed by group undertakings	463,948	463,948
Other debtors	9,800	9,800
Prepayments and accrued income	6,017	5,434
	772,270	774,002

8.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	25,422	13,647
	25,422	13,647

9.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	19,720	9,379
Other loans	156,423	132,448
Trade creditors	217,722	190,755
Corporation tax	4,176	5,009
Other taxation and social security	27,286	42,228
Other creditors	3,441	2,907
Accruals and deferred income	11,406	34,230
	440,174	416,956

10.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	11,449	13,962
	11,449	13,962

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Modern Office Supplies (NI) Limited

Notes to the Financial Statements

For the Year Ended 31 March 2025

Amounts falling due within one year
Bank loans	19,720	9,379
Other loans	156,423	132,448
	176,143	141,827


Amounts falling due after more than 5 years
Bank Loans	11,449	13,962
	11,449	13,962
	187,592	155,789

12.	Deferred taxation

		2025
		£

	At beginning of year	(3,891)
	Charged to profit or loss	(1,864)
	At end of year	(5,755)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

	Accelerated capital allowances	(5,755)	(3,891)
		(5,755)	(3,891)

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Modern Office Supplies (NI) Limited

Notes to the Financial Statements

For the Year Ended 31 March 2025

13.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1,000 (2024 - 1,000) Ordinary shares of £1.00 each	1,000	1,000

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