Company No:
Contents
| Note | 2026 | 2025 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| Investment property | 4 |
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| Investments | 5 |
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| 4,968,563 | 6,597,674 | |||
| Current assets | ||||
| Debtors | 6 |
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| Cash at bank and in hand | 7 |
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| 512,273 | 566,623 | |||
| Creditors: amounts falling due within one year | 8 | (
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| Net current assets | 504,692 | 546,855 | ||
| Total assets less current liabilities | 5,473,255 | 7,144,529 | ||
| Creditors: amounts falling due after more than one year | 9 | (
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| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 10 |
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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 Moda CPS Limited (registered number:
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Mrs S A Brice
Director |
Mr M A Brice
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.
Moda CPS 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 First Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
In the application of the company's accounting policies, management are required to make estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to the accounting estimates are recognised in the period in which the estimate is revised, if it affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key estimates which have a significant effect on the amounts recognised in the financial statements are as follows:
Tangible fixed assets are carried at cost, less accumulated depreciation and any subsequent accumulated impairment loss. This requires an estimation in the depreciation rates used, as well as an assessment of the ongoing economic contribution of the assets of the company as to whether an indication of impairment has occurred.
Investment properties and other fixed asset investments are carried at cost, plus or less any subsequent accumulated revaluation gain or loss. This requires an estimation by the directors as to the current market value of the investments to determine whether a revaluation is required in the current period
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
| Office equipment |
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No depreciation is provided in respect of investment properties. The treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment, and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the accounts to show a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.
Fixed asset investments where a fair value cannot be reliably measured are stated at cost less impairment.
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.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
| 2026 | 2025 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Office equipment | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 April 2025 |
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| At 31 March 2026 |
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| Accumulated depreciation | |||
| At 01 April 2025 |
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| Charge for the financial year |
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| At 31 March 2026 |
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| Net book value | |||
| At 31 March 2026 | 1,201 | 1,201 | |
| At 31 March 2025 | 1,501 | 1,501 |
| Investment property | |
| £ | |
| Valuation | |
| As at 01 April 2025 |
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| Fair value movement | 30,000 |
| As at 31 March 2026 |
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At 31 March 2026, the investment properties were valued at £780,000 (2025: £750,000).
This valuation has been estimated by a professional and independent valuer.
| Other investments | Total | ||
| £ | £ | ||
| Cost or valuation before impairment | |||
| At 01 April 2025 |
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| Movement in fair value | (
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| At 31 March 2026 |
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| Carrying value at 31 March 2026 |
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| Carrying value at 31 March 2025 |
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Included in other fixed asset investments is an investment in Beach House Group Limited, a private Hong Kong based company, and associated businesses including Purple Flamingos LLC, a US based company. The directors have estimated that this investment had a fair value of £4,187,362 as at 31 March 2026, based on the information available to them (2025: £5,846,173).
| 2026 | 2025 | ||
| £ | £ | ||
| Amounts owed by directors |
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| Prepayments |
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| 2026 | 2025 | ||
| £ | £ | ||
| Cash at bank and in hand |
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| £ | £ | ||
| Accruals |
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| Taxation and social security |
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| 2026 | 2025 | ||
| £ | £ | ||
| Bank loans (secured) |
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Amounts repayable after more than 5 years are included in creditors falling due over one year:
| 2026 | 2025 | ||
| £ | £ | ||
| Bank loans (secured) |
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| 2026 | 2025 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with the entity's directors
| 2026 | 2025 | ||
| £ | £ | ||
| Loan to the directors. The loan is repayable on demand and interest is charged at HMRC's official rate of interest. | 102,092 | 53,117 |
During the year to 31 March 2026, advances totalling £103,975 were made to the directors, of which £55,000 was repaid in the year. As at 31 March 2026 the amount owing to the company was £102,092.
As at 31 March 2026 the profit and loss account included £3,188,741 (2025: £4,410,274) of non-distributable reserves. This relates to revaluations on the investment properties and other fixed asset investments.