| Amodal Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
over 3 years straight line basis |
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Fixtures, fittings, tools and equipment |
over 3 years straight line basis |
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Motor vehicles |
25% reducing balance basis |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2025 |
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2024 |
| Number |
Number |
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Average number of persons employed by the company |
13 |
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12 |
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| 3 |
Tangible fixed assets |
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Plant and machinery etc |
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Motor vehicles |
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Total |
| £ |
£ |
£ |
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Cost |
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At 1 April 2024 |
57,433 |
|
52,590 |
|
110,023 |
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Additions |
29,008 |
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- |
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29,008 |
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At 31 March 2025 |
86,441 |
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52,590 |
|
139,031 |
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Depreciation |
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At 1 April 2024 |
46,070 |
|
30,403 |
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76,473 |
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Charge for the year |
17,574 |
|
5,547 |
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23,121 |
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At 31 March 2025 |
63,644 |
|
35,950 |
|
99,594 |
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Net book value |
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At 31 March 2025 |
22,797 |
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16,640 |
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39,437 |
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At 31 March 2024 |
11,363 |
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22,187 |
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33,550 |
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| 4 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
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Cost |
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At 1 April 2024 |
8 |
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At 31 March 2025 |
8 |
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Historical cost |
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At 1 April 2024 |
8 |
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At 31 March 2025 |
8 |
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Amodal Limited is a parent company to Endev-o World Limted and owns 75% of the shares.
The company has taken advantage of the exemption under the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds it is a small sized group. |
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| 5 |
Debtors |
2025 |
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2024 |
| £ |
£ |
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Trade debtors |
400,868 |
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422,548 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
112,500 |
|
10,000 |
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Other debtors |
41,740 |
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31,164 |
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555,108 |
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463,712 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Bank loans and overdrafts |
61,382 |
|
151,964 |
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Obligations under finance lease and hire purchase contracts |
11,614 |
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12,112 |
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Trade creditors |
111,310 |
|
134 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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8 |
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8 |
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Corporation tax |
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85,944 |
|
115,910 |
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Other taxation and social security costs |
222,928 |
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85,458 |
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Director's loan account |
25,153 |
|
42,987 |
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Other creditors |
5,568 |
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5,802 |
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523,907 |
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414,375 |
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| 7 |
Creditors: amounts falling due after one year |
2025 |
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2024 |
| £ |
£ |
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Bank loans |
- |
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61,382 |
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Obligations under finance lease and hire purchase contracts |
- |
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11,614 |
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- |
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72,996 |
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| 8 |
Related party transactions |
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Endev-o World Limited is a 75% subsidiary of Amodal Limited:-
1) During the year to 31 March 2025 further loans of £102,500 were provided by Amodal Limited to Endev-o World Limited (2024: £10,000). At 31 March 2025 £112,500 was still outstanding (2024: £10,000).
2) During the year Amodal Limited sold £126,000 of fees to Endev-o World Limited (2024: £51,645). As at 31 March 2025 £93,600 was owed by Endev-o World Limtied (2024: £51,645).
3) A further £76,450 of legal, software development and design services were also provided to Endev-o World Limited in the year to 31 March 2025 (2024: £15,645). At 31 March 2025 £Nil was owing to Amodal Limited (2024: £15,645).
4) During the year to 31 March 2025 Endev-o World Limited provided £36,000 (2024: £Nil) of software development cost to Amodal Limited. |
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| 9 |
Share-based payments |
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The company operates an equity-settled share-based payment scheme under the Enterprise Management Incentive (EMI) provisions. The fair value of services received in exchange for share options is recognised as an expense over the vesting period, with a corresponding increase in equity. |
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| 10 |
Company purchase of own shares |
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On 23 December 2024 the Company purchased 1,272 of it's Ordinary A £0.01 shares. The 1,272 shares were purchased for a total consideration of £11,995 and these shares were then immediately cancelled.
Following the purchase this left 82,668 issued Ordinary £0.01 shares and 40,062 issued Ordinary A shares at 31 December 2024. |
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| 11 |
Controlling party |
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There is no overall controlling party. T Whiting and M Barber (directors) each control 50% of the voting rights through their ownership of 50% of the Issued Ordinary Share Capital. |
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| 12 |
Other information |
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Amodal Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Victoria House |
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88 The Causeway |
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Maldon |
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Essex |
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CM9 4LL |