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REGISTERED NUMBER: 01715832 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

MODULAR COATINGS LIMITED

MODULAR COATINGS LIMITED (REGISTERED NUMBER: 01715832)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

MODULAR COATINGS LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTOR: | Mr S A Hensman

| SECRETARY: | Mr S A Hensman

| REGISTERED OFFICE: | Garter Street

| Sheffield

| South Yorkshire

| S4 7QX

| REGISTERED NUMBER: | 01715832 (England and Wales)

MODULAR COATINGS LIMITED (REGISTERED NUMBER: 01715832)

BALANCE SHEET

31 MARCH 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 3,618 |  | 119,468 |  |

CURRENT ASSETS

Stocks | 3,762 |  | 3,762 |  |

Debtors | 5 | 41,947 |  | 52,045 |  |

Investments | 6 | 170,000 |  | - |  |

Cash at bank | 50,236 |  | 23,748 |  |

265,945 |  | 79,555 |  |

CREDITORS

Amounts falling due within one year | 7 | 19,781 |  | 27,665 |  |

NET CURRENT ASSETS | 246,164 |  | 51,890 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 249,782 |  | 171,358 |  |

PROVISIONS FOR LIABILITIES | 29,143 |  | 29,165 |  |

NET ASSETS | 220,639 |  | 142,193 |  |

CAPITAL AND RESERVES

Called up share capital | 8 | 50 |  | 50 |  |

Revaluation reserve | 9 | - |  | 71,400 |  |

Retained earnings | 9 | 220,589 |  | 70,743 |  |

SHAREHOLDERS' FUNDS | 220,639 |  | 142,193 |  |

MODULAR COATINGS LIMITED (REGISTERED NUMBER: 01715832)

BALANCE SHEET - continued

31 MARCH 2025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 June 2025 and were signed by:

Mr S A Hensman - Director

MODULAR COATINGS LIMITED (REGISTERED NUMBER: 01715832)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| Modular Coatings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable net of VAT.

| When the outcome of a transaction can be estimated reliably, turnover from industrial coatings is recognised by reference to the stage of completion at the balance sheet date.

| Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses that are recoverable.

| Tangible fixed assets

| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

| Land & Buildings |  | - 2% straight line |

| Fixtures & fittings |  | - 15% reducing balance |

| Plant & equipment |  | - 15% reducing balance |

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

MODULAR COATINGS LIMITED (REGISTERED NUMBER: 01715832)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 3 (2024 - 2 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST OR VALUATION

| At 1 April 2024 | 180,000 |  | 57,064 |  | 237,064 |  |

| Additions | - |  | 755 |  | 755 |  |

| Reclassification/transfer | (180,000 | ) | - |  | (180,000 | ) |

| At 31 March 2025 | - |  | 57,819 |  | 57,819 |  |

| DEPRECIATION

| At 1 April 2024 | 64,033 |  | 53,563 |  | 117,596 |  |

| Charge for year | - |  | 638 |  | 638 |  |

| Transfer to ownership | (64,033 | ) | - |  | (64,033 | ) |

| At 31 March 2025 | - |  | 54,201 |  | 54,201 |  |

| NET BOOK VALUE

| At 31 March 2025 | - |  | 3,618 |  | 3,618 |  |

| At 31 March 2024 | 115,967 |  | 3,501 |  | 119,468 |  |

MODULAR COATINGS LIMITED (REGISTERED NUMBER: 01715832)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 28,104 |  | 50,661 |  |

| Directors' current accounts | 12,475 |  | - |  |

| Prepayments and accrued income | 1,368 |  | 1,384 |  |

41,947 |  | 52,045 |  |

6. | CURRENT ASSET INVESTMENTS

2025 | 2024 |

£ | £ |

| Assets held for sale | 170,000 |  | - |  |

| The property was held for sale as at the balance sheet date. After the year end a sale was agreed for the price reflected in the accounts.

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 4,984 |  | 4,196 |  |

| Corporation tax | 5,871 |  | 9,719 |  |

| Social security and other taxes | 1,847 |  | 1,900 |  |

| VAT | 4,004 |  | 8,219 |  |

| Other creditors | 775 |  | 806 |  |

| Directors' current accounts | - |  | 525 |  |

| Accruals and deferred income | 2,300 |  | 2,300 |  |

19,781 |  | 27,665 |  |

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 50 | Ordinary | £1 | 50 |  | 50 |  |

MODULAR COATINGS LIMITED (REGISTERED NUMBER: 01715832)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

9. | RESERVES

| Retained |  | Revaluation |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 April 2024 | 70,743 |  | 71,400 |  | 142,143 |  |

| Profit for the year | 24,413 |  | - |  | 24,413 |  |

| Revaluation of property | - |  | 54,033 |  | 54,033 |  |

| Asset reclassified | 125,433 |  | (125,433 | ) | - |  |

| At 31 March 2025 | 220,589 |  | - |  | 220,589 |  |