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REGISTERED NUMBER: 10899737 (United Kingdom)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

LOGICDIALOG LTD

LOGICDIALOG LTD (REGISTERED NUMBER: 10899737)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


LOGICDIALOG LTD (REGISTERED NUMBER: 10899737)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,180 2,203

CURRENT ASSETS
Debtors 6 200,151 324,845
Cash at bank 214,530 240,757
414,681 565,602
CREDITORS
Amounts falling due within one year 7 216,719 282,600
NET CURRENT ASSETS 197,962 283,002
TOTAL ASSETS LESS CURRENT LIABILITIES 200,142 285,205

CREDITORS
Amounts falling due after more than one year 8 76,705 42,976
NET ASSETS 123,437 242,229

CAPITAL AND RESERVES
Called up share capital 11 219 205
Share premium 3,238,725 2,625,255
Retained earnings (3,115,507 ) (2,383,231 )
SHAREHOLDERS' FUNDS 123,437 242,229

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

LOGICDIALOG LTD (REGISTERED NUMBER: 10899737)

Balance Sheet - continued
31 August 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:





Mr P Shepherd - Director


LOGICDIALOG LTD (REGISTERED NUMBER: 10899737)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Logicdialog Ltd is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address are as below:

Registered number: 10899737

Registered office: Tramshed Tech
Pendyris Street
Cardiff
CF11 6BH

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis.

During the year the company continued to undergo substantial research and development activities to bring its Artificial Intelligence platform to market. This has resulted in the company recording a loss of £732,276 (2022: £849,021) for the year ended 31 August 2023. As at that date the shareholders funds totalled £123,437 (2022: £242,229).

The company continues to engage in activities to secure additional funding to enable it to carry out further research and development to enhance its product and to build on early promising market penetration.

On the basis that the ongoing fund raising activities are successful, the directors are comfortable that the company will continue as a going concern.

Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities

LOGICDIALOG LTD (REGISTERED NUMBER: 10899737)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% Straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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 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.

LOGICDIALOG LTD (REGISTERED NUMBER: 10899737)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


3. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

LOGICDIALOG LTD (REGISTERED NUMBER: 10899737)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


3. ACCOUNTING POLICIES - continued

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability



Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial Instruments
Classification
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.

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual

LOGICDIALOG LTD (REGISTERED NUMBER: 10899737)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


3. ACCOUNTING POLICIES - continued
provisions of the instrument.

Debt instruments are subsequently measured at amortised cost.

Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Compound financial instruments
Compound financial instruments issued by the group comprise convertible loan notes that can be converted to share capital at the option of the holder, and the number of shares to be issued dependent on the price per share paid in the latest investment round prior to the conversion date.

As there is no pre determined number of shares that will be converted, the loan note will be recognised as a liability, with no equity component recognised. Any directly attributable transaction costs are allocated to the income statement.

Subsequent to initial recognition, the loan note is measured at amortised cost.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

LOGICDIALOG LTD (REGISTERED NUMBER: 10899737)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 September 2022 5,694
Additions 900
At 31 August 2023 6,594
DEPRECIATION
At 1 September 2022 3,491
Charge for year 923
At 31 August 2023 4,414
NET BOOK VALUE
At 31 August 2023 2,180
At 31 August 2022 2,203

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,400 116,880
Other debtors 100 791
Tax 194,651 207,174
200,151 324,845

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 6,536 66,814
Trade creditors 3,684 12,242
Social security and other taxes 55,101 22,797
Other creditors 13,857 3,561
Accruals and deferred income 137,541 177,186
216,719 282,600

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 76,705 42,976

LOGICDIALOG LTD (REGISTERED NUMBER: 10899737)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 27,301 -

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,536 66,814

Amounts falling due between two and five years:
Bank loans - 2-5 years 49,404 42,976

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 27,301 -

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 997 8,105
Between one and five years - 997
997 9,102

11. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
437,815 Ordinary shares 0.05p 219 205
(2022 - 410,768
)