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COMPANY REGISTRATION NUMBER: 11598001
Logical Property Services Limited
Filleted Unaudited Financial Statements
Period ending
31 March 2022
Logical Property Services Limited
Statement of Financial Position
31 March 2022
31 Mar 22
31 Oct 20
Note
£
£
£
£
Fixed assets
Tangible assets
4
266
Current assets
Cash at bank and in hand
12
3,037
Creditors: amounts falling due within one year
5
7,175
8,394
-------
-------
Net current liabilities
7,163
5,357
-------
-------
Total assets less current liabilities
( 7,163)
( 5,091)
-------
-------
Net liabilities
( 7,163)
( 5,091)
-------
-------
Capital and reserves
Called up share capital
6
1
1
Profit and loss account
( 7,164)
( 5,092)
-------
-------
Shareholders deficit
( 7,163)
( 5,091)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 August 2022 , and are signed on behalf of the board by:
Mrs J Chant
Director
Company registration number: 11598001
Logical Property Services Limited
Notes to the Financial Statements
Period from 1 November 2020 to 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 46 Lawn Lane, Chelmsford, Essex, CM1 6NR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The company ceased trading on 31 March 2022.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Equipment
£
Cost
At 1 November 2020
374
Disposals
( 374)
----
At 31 March 2022
----
Depreciation
At 1 November 2020
108
Charge for the period
106
Disposals
( 214)
----
At 31 March 2022
----
Carrying amount
At 31 March 2022
----
At 31 October 2020
266
----
5. Creditors: amounts falling due within one year
31 Mar 22
31 Oct 20
£
£
Trade creditors
900
Accruals and deferred income
1,344
840
Director loan accounts
5,831
6,654
-------
-------
7,175
8,394
-------
-------
6. Called up share capital
Issued, called up and fully paid
31 Mar 22
31 Oct 20
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
7. Related party transactions
Increase/ decrease in loan Closing balance Dr/(Cr)
£ £
Directors
31 March 2022 823 (5,831)
31 October 2020 403 (6,654)