Modo Commercial Kitchen Design Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Modo Commercial Kitchen Design Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07335720 . The registered office is The Mezzanine, 1 The Square, Bristol, BS1 6DG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% straight line
Motor Vehicles	25% reducing balance
Computer Equipment	20% straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Modo Commercial Kitchen Design Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was 18 (2024: 18)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 November 2024	21,095	139,150	13,181	173,426
Additions	39,500	-	4,462	43,962

As at 31 October 2025	60,595	139,150	17,643	217,388

Depreciation
As at 1 November 2024	6,512	55,405	4,231	66,148
Provided during the period	8,169	20,936	3,234	32,339

As at 31 October 2025	14,681	76,341	7,465	98,487

Net Book Value
As at 31 October 2025	45,914	62,809	10,178	118,901

As at 1 November 2024	14,583	83,745	8,950	107,278

5. Stocks

	2025	2024
	£	£
Materials	39,759	23,786

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Modo Commercial Kitchen Design Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	853,246	1,872,539
Amounts recoverable on contracts	633,270	428,731
Prepayments and accrued income	30,132	16,203
Other debtors	-	1,200
Amounts owed by other participating interests	430,704	33,320

	1,947,352	2,351,993
Due after more than one year
Amounts owed by group undertakings	807,426	625,661

	2,754,778	2,977,654

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	22,245	29,045
Trade creditors	917,686	1,495,961
Bank loans and overdrafts	-	16,406
Corporation tax	116,169	100,939
Other taxes and social security	14,793	13,928
VAT	4,521	18,390
Other creditors	1,813	13,580
Accruals and deferred income	980,140	1,264,921
Directors' loan accounts	34	-

	2,057,401	2,953,170

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	15,409	35,954

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	22,245	29,045
Later than one year and not later than five years	15,409	35,954

	37,654	64,999

	37,654	64,999

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Modo Commercial Kitchen Design Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

11. Related Party Transactions

The company has transacted with the following related parties during the year by virtue of common ownership and/or directorship:

Morzine Group Ltd

As at the balance sheet date, Morzine Group Ltd owed the company £806,334 (PY24: £550,482). This balance arose from intercompany transactions in the normal course of business.

The balance is unsecured, interest-free, and repayable on demand.

Modo Ireland Ltd

As at the balance sheet date, Modo Ireland Ltd owed the company £67,322 (FY24: £37,780).

This balance arose from intercompany trading and is unsecured, interest-free, and repayable on demand.

Lincs Catering Ltd

As at the balance sheet date, Lincs Catering Ltd owed the company £11,798 (FY24: £33,320).

The amount is unsecured, interest-free, and repayable on demand.

Concept Bars Ltd

As at the balance sheet date, Concept Bars Ltd owed the company £457 (FY24: £33,154).

This balance arose from trading between the companies and is unsecured, interest-free, and repayable on demand.

Morzine Enterprise Parks Ltd

As at the balance sheet date, Morzine Enterprise Parks Ltd owed the company £1,584 (FY24: £1,584).

The balance is unsecured, interest-free, and repayable on demand.

Concept Refrigeration Ltd

As at the balance sheet date, Concept Refrigeration Ltd owed the company £0 (FY24: £0).

The balance is unsecured, interest-free, and repayable on demand.

Chill @ Concept

As at the balance sheet date, Chill @ Concept owed the company £636 (FY24: £461).

The balance is unsecured, interest-free, and repayable on demand.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		118,901		107,278

			118,901		107,278
CURRENT ASSETS
Stocks	5	39,759		23,786
Debtors	6	2,754,778		2,977,654
Cash at bank and in hand		169,904		482,965

		2,964,441		3,484,405
Creditors: Amounts Falling Due Within One Year	7	(2,057,401 )		(2,953,170 )

NET CURRENT ASSETS (LIABILITIES)			907,040		531,235

TOTAL ASSETS LESS CURRENT LIABILITIES			1,025,941		638,513

Creditors: Amounts Falling Due After More Than One Year	8		(15,409 )		(35,954 )

PROVISIONS FOR LIABILITIES
Provisions For Charges			(200,462 )		(148,932 )
Deferred Taxation			(29,725 )		(26,820 )

NET ASSETS			780,345		426,807

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			780,245		426,707

SHAREHOLDERS' FUNDS			780,345		426,807