Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 3 |
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| 164,874 | 164,874 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 1,377,080 | 1,584,599 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current assets | 1,367,154 | 1,381,007 | ||
| Total assets less current liabilities | 1,532,028 | 1,545,881 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Share premium account |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Modus Holdings Limited (registered number:
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J Powell
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Modus Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss.
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Assets held under hire purchase agreements are capitalised as tangible fixed assets with the future obligation being recognised as a liability. Finance costs are recognised in the Profit and Loss Account calculated at a constant periodic rate of interest over the term of the liability.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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Investments in subsidiaries
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| Cost | |
| At 01 April 2024 |
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| At 31 March 2025 |
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| Carrying value at 31 March 2025 |
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| Carrying value at 31 March 2024 |
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| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed by Group undertakings |
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| Other debtors |
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| £ | £ | ||
| Trade creditors |
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| Amounts owed to Group undertakings |
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| Other taxation and social security |
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| Other creditors |
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Commitments
The total amount of guarantees not included in the balance sheet is £Nil (2024 - £37,806). The company has given a guarantee on the bank loans and invoice financing to Modus Furniture Limited
Transactions with the entity's directors
Advances
At 1 April 2024, the balance owed by J Powell was £nil. During the year, £742 was advanced to the director, and £nil was repaid by the director. At 31 March 2025, the balance owed by the director was £742.
At 1 April 2023, the balance owed by J Powell was £120,226. During the year, £56,116 was advanced to the director, and £176,342 was repaid by the director. At 31 March 2024, the balance owed by the director was £nil.
E Richardson
At 1 April 2024, the balance owed by E Richardson was £nil. During the year, £nil was advanced to the director, and £nil was repaid by the director. At 31 March 2025, the balance owed by the director was £nil.
At 1 April 2023, the balance owed by E Richardson was £158,118. During the year, £73,848 was advanced to the director, and £231,966 was repaid by the director. At 31 March 2024, the balance owed by the director was £nil.
I Scott
At 1 April 2024, the balance owed by I Scott was £nil. During the year, £360 was advanced to the director, and £nil was repaid by the director. At 31 March 2025, the balance owed by the director was £360.