Mode Automation Limited - Accounts to registrar (filleted) - small 18.2

Mode Automation Limited - Accounts to registrar (filleted) - small 18.2

OKTYX LIMITED - Company Information

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REGISTERED NUMBER: 11494328 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

MODE AUTOMATION LIMITED
MODE AUTOMATION LIMITED (REGISTERED NUMBER: 11494328)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MODE AUTOMATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2020







DIRECTORS: Mr J M Manser
Mr R J Graham





REGISTERED OFFICE: 45 Queenswood Road
Sidcup
Kent
DA15 8QP





REGISTERED NUMBER: 11494328 (England and Wales)





ACCOUNTANTS: Bayar Hughes & Co
Chartered Certified Accountants
4 Green Lane Business Park
238 Green lane
New Eltham
London
SE9 3TL
1
MODE AUTOMATION LIMITED (REGISTERED NUMBER: 11494328)

BALANCE SHEET
31 MARCH 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,705 16,435

CURRENT ASSETS
Stocks 5 1,475 1,200
Debtors 6 29,337 3,967
Cash at bank 43,432 21,583
74,244 26,750
CREDITORS
Amounts falling due within one year 7 37,964 29,968
NET CURRENT ASSETS/(LIABILITIES) 36,280 (3,218 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
50,985
13,217

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 50,885 13,117
SHAREHOLDERS' FUNDS 50,985 13,217

The notes form part of these financial statements

2
MODE AUTOMATION LIMITED (REGISTERED NUMBER: 11494328)

BALANCE SHEET - continued
31 MARCH 2020


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 22 December 2020 and were signed on its behalf by:





Mr J M Manser - Director


The notes form part of these financial statements

3
MODE AUTOMATION LIMITED (REGISTERED NUMBER: 11494328)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

1. STATUTORY INFORMATION

Mode Automation 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.

Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2019
and 31 March 2020 17,300
AMORTISATION
At 1 April 2019 865
Amortisation for year 1,730
At 31 March 2020 2,595
NET BOOK VALUE
At 31 March 2020 14,705
At 31 March 2019 16,435

5. STOCKS
2020 2019
£    £   
Stocks 1,475 1,200

4
MODE AUTOMATION LIMITED (REGISTERED NUMBER: 11494328)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade Debtors 13,837 3,834
Amount Due From Associated Company 15,500 -
Other Debtors & Prepayments - 133
29,337 3,967

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade Creditors 12,169 590
Corporation Tax 14,430 3,487
Social Security & Other Taxes 608 613
Vat Creditor 7,600 4,152
Directors' Loan Accounts 192 19,680
Other Creditors & Accruals 2,965 1,446
37,964 29,968

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2020 2019
value: £    £   
100 Ordinary 1 100 100

9. RESERVES
Retained
earnings
£   

At 1 April 2019 13,117
Profit for the year 56,768
Dividends (19,000 )
At 31 March 2020 50,885

5