Modality LLP - Accounts to registrar (filleted) - small 18.2

Modality LLP - Accounts to registrar (filleted) - small 18.2

MODALITY LLP - Company Information

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IRIS Accounts Production v22.1.2.16 OC422179 designated member 1.4.21 31.3.22 31.3.22 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC4221792021-03-31OC4221792022-03-31OC4221792021-04-012022-03-31OC4221792020-03-31OC4221792020-04-012021-03-31OC4221792021-03-31OC422179ns16:EnglandWales2021-04-012022-03-31OC422179ns15:PoundSterling2021-04-012022-03-31OC422179ns11:Director12021-04-012022-03-31OC422179ns11:LimitedLiabilityPartnershipLLP2021-04-012022-03-31OC422179ns11:SmallEntities2021-04-012022-03-31OC422179ns11:AuditExemptWithAccountantsReport2021-04-012022-03-31OC422179ns11:SmallCompaniesRegimeForAccounts2021-04-012022-03-31OC422179ns11:LimitedLiabilityPartnershipsSORP2021-04-012022-03-31OC422179ns11:FullAccounts2021-04-012022-03-31OC422179ns11:Director22021-04-012022-03-31OC422179ns11:RegisteredOffice2021-04-012022-03-31OC422179ns6:CurrentFinancialInstruments2022-03-31OC422179ns6:CurrentFinancialInstruments2021-03-31OC422179ns6:FurnitureFittings2021-04-012022-03-31OC422179ns6:ComputerEquipment2021-04-012022-03-31OC422179ns6:FurnitureFittings2021-03-31OC422179ns6:ComputerEquipment2021-03-31OC422179ns6:FurnitureFittings2022-03-31OC422179ns6:ComputerEquipment2022-03-31OC422179ns6:FurnitureFittings2021-03-31OC422179ns6:ComputerEquipment2021-03-31OC422179ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-31OC422179ns6:WithinOneYearns6:CurrentFinancialInstruments2021-03-31


REGISTERED NUMBER: OC422179 (England and Wales)















MODALITY LLP

Unaudited Financial Statements for the Year Ended 31 March 2022





Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB








MODALITY LLP (REGISTERED NUMBER: OC422179)

Contents of the Financial Statements
for the Year Ended 31 March 2022










Page

General Information 1

Balance Sheet 3

Notes to the Financial Statements 5

Chartered Accountants' Report 7

MODALITY LLP

General Information
for the Year Ended 31 March 2022







DESIGNATED MEMBERS: Dr K M Bailey
Dr S P Butler
Dr S J Dawe
Dr B D Empson
Dr M Gupta
Dr W Murdoch
Dr A Qayyum
Dr S Randhawa
Dr N K Rati
Dr A Salar
Dr A Sharif
Dr D Singh
Dr M Singh
Dr R Venkatakrishnan
Dr N Ahmed-Brooker
Dr S Varadharajan
Dr B Parmar
Dr C Smith
Dr J Jeffrey
Dr J S Hudson
Dr S Hunter
Dr P Smith
Dr J Craven
Dr A Sixsmith
Dr J Thomas
Dr B Jones
Dr D Livesey
Dr L Leigh
Dr S Beggan
Dr H Cox
Dr P Richardson
Dr D Wardleworth
Dr J Buckley
Dr M Curtis
Dr T Ratcliffe
Dr N Bird
Dr K Lovell
Dr H Hawker
Dr S Dabin
Dr A Parsons
Dr B Kennedy
Dr S Worthington
Dr L Thake
Dr S Hermon
Dr D Stout
Dr M Milbourn
Dr M Home
Dr R Barron
Dr L Cuthbert
Dr S Jhaj
Dr B Prince
Dr G Curran
Page 1
MODALITY LLP

General Information
for the Year Ended 31 March 2022







Dr E Dobson
Dr B Ali
Dr J Moult
Dr H Hawes
Dr S Sudhakaran
Dr A Rennie
Dr K Hall
Dr D Lloyd
Dr R S Sugavanam
Dr N Sahota
Dr A Ashraf
Dr R Sandhu
Dr H Baggri
Dr A Shanker
Dr S Sinha
Dr S Manning
Dr A Rischie
Dr R Akhaury
Dr R Sinha
Dr A Ghosh
Dr M Rowan
Dr A Hashmi
Dr H Sidhu
Dr Z Rodrigues
Dr M Kathuria
Dr A Ali





REGISTERED OFFICE: Granville House
2 Tettenhall Road
Wolverhampton
WV1 4SB





REGISTERED NUMBER: OC422179 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB
Page 2
MODALITY LLP (REGISTERED NUMBER: OC422179)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 712,847 185,113

CURRENT ASSETS
Debtors 5 1,781,203 752,980
Cash at bank 184,453 2,116,339
1,965,656 2,869,319
CREDITORS
Amounts falling due within one year 6 2,112,412 2,783,872
NET CURRENT (LIABILITIES)/ASSETS (146,756 ) 85,447
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
566,091
270,560

LOANS AND OTHER DEBTS DUE TO
MEMBERS
7
566,091
270,560

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 566,091 270,560

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2022.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The notes form part of these financial statements

Page 3 continued...
MODALITY LLP (REGISTERED NUMBER: OC422179)

Balance Sheet - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 31 January 2023 and were signed by:





Dr N K Rati - Designated member

The notes form part of these financial statements

Page 4
MODALITY LLP (REGISTERED NUMBER: OC422179)

Notes to the Financial Statements
for the Year Ended 31 March 2022


1. STATUTORY INFORMATION

Modality LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Medical equipment - 20% on cost
Computer equipment - 33.33% on cost

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares or non-puttable ordinary shares which are measured at fair value, with changed recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 107 (2021 - 65 ) .

Page 5 continued...
MODALITY LLP (REGISTERED NUMBER: OC422179)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022


4. TANGIBLE FIXED ASSETS
Medical Computer
equipment equipment Totals
£    £    £   
COST
At 1 April 2021 194,578 25,175 219,753
Additions 649,343 - 649,343
At 31 March 2022 843,921 25,175 869,096
DEPRECIATION
At 1 April 2021 28,042 6,598 34,640
Charge for year 113,217 8,392 121,609
At 31 March 2022 141,259 14,990 156,249
NET BOOK VALUE
At 31 March 2022 702,662 10,185 712,847
At 31 March 2021 166,536 18,577 185,113

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 1,712,872 690,311
Prepayments and accrued income 68,331 62,669
1,781,203 752,980

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade creditors 646,459 307,409
Amounts owed to participating interests 1,208,078 2,267,905
Social security and other taxes 60,149 35,623
Other creditors 22,866 29,606
Amounts due to former members 17,742 -
Accruals and deferred income 157,118 143,329
2,112,412 2,783,872

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in 'Loans due to members' will rank equally with unsecured creditors.

Page 6
Chartered Accountants' Report to the Members
on the Unaudited Financial Statements of
Modality LLP


The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Modality LLP for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Modality LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Modality LLP and state those matters that we have agreed to state to the members of Modality LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Modality LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Modality LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Modality LLP. You consider that Modality LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Modality LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


31 January 2023

This page does not form part of the statutory financial statements

Page 7