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Registration number: 09093879

Modular Movements Ltd
Unaudited Filleted Financial Statements
for the Year Ended 30 November 2025

Modular Movements Ltd

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 6

Modular Movements Ltd

(Registration number: 09093879)
Balance Sheet as at 30 November 2025

| Note | 2025 £ | 2024 £
Current assets |  |  |
Debtors | 4 | 3,157,349 | 3,823,278
Cash at bank and in hand |  | 73,384 | 22,708
|  | 3,230,733 | 3,845,986
Creditors: Amounts falling due within one year | 5 | (2,437,515) | (2,784,464)
Total assets less current liabilities |  | 793,218 | 1,061,522
Creditors: Amounts falling due after more than one year | 5 | (305,003) | (670,723)
Net assets |  | 488,215 | 390,799
Capital and reserves |  |  |
Called up share capital | 6 | 2 | 2
Retained earnings |  | 488,213 | 390,797
Shareholders' funds |  | 488,215 | 390,799

For the financial year ending 30 November 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 August 2026 and signed on its behalf by:

......................................... M J Swan Director

Modular Movements Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1 | General information

The Company is a private company limited by share capital, incorporated in England and Wales. The company registration number is 09093879.

The address of its registered office is:
44 Newdown Road
South Park Industrial Estate
Scunthorpe
North Lincolnshire
DN17 2TX

These financial statements were authorised for issue by the Board on 19 August 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 (including Section 1A) smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.
The financial statements represent the company as an individual entity. The company does not for part of a group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of specialist logistics services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax and discounts.
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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Modular Movements Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 6 (2024 - 6).

4 | Debtors

| Note | 2025 £ | 2024 £
Trade debtors |  | 2,198,163 | 2,398,199
Amounts owed by related parties | 8 | 763,905 | 1,196,792
Prepayments |  | 169,806 | 175,642
Other debtors |  | 25,475 | 52,645
|  | 3,157,349 | 3,823,278

Modular Movements Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

5 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Loans and borrowings |  | 835,251 | 1,311,823
Trade creditors |  | 276,103 | 269,933
Amounts owed to related parties | 8 | 641,033 | 453,658
Taxation and social security |  | 45,802 | 18,795
Accruals and deferred income |  | 264,784 | 293,935
Other creditors |  | 5,655 | 6,359
HP and finance leases |  | 368,887 | 429,961
|  | 2,437,515 | 2,784,464

Creditors within one year include hire purchase and loans and borrowings which are secured of £1,204,138 (2024 - £1,741,784). Hire purchase contracts are secured against the assets to which they relate. Included within loans and borrowings is a debt factoring facility. The liability is secured by a fixed and floating charge over all property and other undertakings of the Group.

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
HP and Finance Leases |  | 305,003 | 670,723

Creditors due after one year include hire purchases which are secured of £305,003 (2024 - £670,723). Hire purchase contracts are secured against the assets to which they relate.

6 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 2 | 2 | 2 | 2

7 | Obligations under leases and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 368,887 | 429,961
Later than one year and not later than five years | 305,003 | 670,723
| 673,890 | 1,100,684

Modular Movements Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Operating lease commitments
The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 30,000 | 30,000
Later than one year and not later than five years | 30,000 | 60,000
| 60,000 | 90,000

The amount of non-cancellable operating lease payments recognised as an expense during the year was £30,000 (2024 - £30,000).

8 | Related party transactions

Directors' remuneration

The Directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 19,920 | 19,920

Summary of transactions with entities with joint control or significant interest

Income and receivables from related parties

2025 | Other related parties £
Sale of goods | 32,292
Amounts receivable from related party | 89,974

2024 | Other related parties £
Sale of goods | 79,577
Amounts receivable from related party | 61,845

Modular Movements Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Expenditure with and payables to related parties

2025 | Key management £ | Other related parties £
Purchase of goods | - | 2,427,512
Amounts payable to related party | 445 | 46,027

2024 | Key management £ | Other related parties £
Purchase of goods | - | 2,599,965
Amounts payable to related party | 512 | 58,655

Loans to related parties

2025 | Entities with joint control or significant influence £
At start of period | 42,371
Advanced | 23,586
Repaid | (7,000)
At end of period | 58,957

2024 | Entities with joint control or significant influence £
At start of period | 36,876
Advanced | 42,995
Repaid | (37,500)
At end of period | 42,371

The Company has taken advantage of the exemption permitted by Section 33 'Related Party Disclosure' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' from the requirements to disclose transactions between wholly owned group companies of Modular Logistics Group Limited.

9 | Parent and ultimate parent undertaking

The company is a wholly owned subsidiary of Modular Logistics Group Limited, a company incorporated in England.