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REGISTERED NUMBER: SC447506 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2021

for

Logan Pharmaceuticals Limited

Logan Pharmaceuticals Limited (Registered number: SC447506)

Contents of the Financial Statements
for the Year Ended 31 August 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Logan Pharmaceuticals Limited

Company Information
for the Year Ended 31 August 2021







DIRECTOR: A Mohammed





REGISTERED OFFICE: 37 Main Street
Calderbank
Airdrie
ML6 9SG





REGISTERED NUMBER: SC447506 (Scotland)






Logan Pharmaceuticals Limited (Registered number: SC447506)

Balance Sheet
31 August 2021

31.8.21 31.8.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,191 54,107

CURRENT ASSETS
Debtors 5 577,453 726,780
Cash at bank 68,117 173,278
645,570 900,058
CREDITORS
Amounts falling due within one year 6 413,544 659,880
NET CURRENT ASSETS 232,026 240,178
TOTAL ASSETS LESS CURRENT
LIABILITIES

282,217

294,285

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 282,216 294,284
SHAREHOLDERS' FUNDS 282,217 294,285

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 30 June 2022 and were signed by:





A Mohammed - Director


Logan Pharmaceuticals Limited (Registered number: SC447506)

Notes to the Financial Statements
for the Year Ended 31 August 2021


1. STATUTORY INFORMATION

Logan Pharmaceuticals Limited is a private company, limited by shares , registered in Scotland. 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 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2020 - 11 ) .

Logan Pharmaceuticals Limited (Registered number: SC447506)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2021


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2020 19,501 56,410 49,870 125,781
Additions - 12,814 - 12,814
At 31 August 2021 19,501 69,224 49,870 138,595
DEPRECIATION
At 1 September 2020 13,982 18,351 39,341 71,674
Charge for year 1,380 12,718 2,632 16,730
At 31 August 2021 15,362 31,069 41,973 88,404
NET BOOK VALUE
At 31 August 2021 4,139 38,155 7,897 50,191
At 31 August 2020 5,519 38,059 10,529 54,107

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.21 31.8.20
£    £   
Trade debtors 231,706 447,438
Amounts owed by group undertakings 15,036 -
Other debtors 330,711 279,342
577,453 726,780

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.21 31.8.20
£    £   
Trade creditors 178,394 430,197
Amounts owed to group undertakings 226,368 130,000
Taxation and social security 255 46,304
Other creditors 8,527 53,379
413,544 659,880

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Directors current account balance is £686 cr (2020: £46,841 Cr).

8. RELATED PARTY DISCLOSURES

Group undertakings balance of £226,368 Cr (2020: £130,000 Dr) relates to Logan Healthcare Limited. This company is a wholly owned subsidiary of the parent Logan Holdings Company Limited.