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REGISTERED NUMBER: 05258589 (England and Wales)
















PROLOGIC SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






PROLOGIC SERVICES LIMITED (REGISTERED NUMBER: 05258589)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PROLOGIC SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: M.R. Stennett
B.R. Manley





SECRETARY: T.J. Griffiths





REGISTERED OFFICE: Suite 8A
Unit 2, Orwell House
Ferry Lane
Felixstowe
Suffolk
IP11 3QQ





REGISTERED NUMBER: 05258589 (England and Wales)





ACCOUNTANTS: CR Bland Baker Limited
Chartered Accountants
21 Lodge Lane
Grays
Essex
RM17 5RY

PROLOGIC SERVICES LIMITED (REGISTERED NUMBER: 05258589)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,386,378 895,527

CURRENT ASSETS
Debtors 5 1,533,921 2,089,712
Cash at bank and in hand 1,354,032 655,796
2,887,953 2,745,508
CREDITORS
Amounts falling due within one year 6 1,057,244 1,572,387
NET CURRENT ASSETS 1,830,709 1,173,121
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,217,087

2,068,648

CREDITORS
Amounts falling due after more than one
year

7

(577,209

)

(339,741

)

PROVISIONS FOR LIABILITIES (260,000 ) (160,000 )
NET ASSETS 2,379,878 1,568,907

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,379,778 1,568,807
SHAREHOLDERS' FUNDS 2,379,878 1,568,907

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

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

PROLOGIC SERVICES LIMITED (REGISTERED NUMBER: 05258589)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2023 and were signed on its behalf by:





M.R. Stennett - Director


PROLOGIC SERVICES LIMITED (REGISTERED NUMBER: 05258589)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Prologic Services 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.

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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PROLOGIC SERVICES LIMITED (REGISTERED NUMBER: 05258589)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 makes contributions to the personal pension scheme of a director and employee. It also contributes to employees under an auto-enrolment scheme.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 27 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 4,122 1,953,954 1,958,076
Additions - 844,660 844,660
Disposals - (201,812 ) (201,812 )
At 31 March 2023 4,122 2,596,802 2,600,924
DEPRECIATION
At 1 April 2022 - 1,062,549 1,062,549
Charge for year - 297,642 297,642
Eliminated on disposal - (145,645 ) (145,645 )
At 31 March 2023 - 1,214,546 1,214,546
NET BOOK VALUE
At 31 March 2023 4,122 1,382,256 1,386,378
At 31 March 2022 4,122 891,405 895,527

PROLOGIC SERVICES LIMITED (REGISTERED NUMBER: 05258589)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022 1,196,319
Additions 699,715
Disposals (119,812 )
Transfer to ownership (520,000 )
At 31 March 2023 1,256,222
DEPRECIATION
At 1 April 2022 465,763
Charge for year 199,622
Eliminated on disposal (73,997 )
Transfer to ownership (334,339 )
At 31 March 2023 257,049
NET BOOK VALUE
At 31 March 2023 999,173
At 31 March 2022 730,556

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,301,200 1,902,981
Other debtors 232,721 186,731
1,533,921 2,089,712

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,849 9,606
Hire purchase contracts 297,601 235,495
Trade creditors 481,342 1,005,027
Taxation and social security 185,464 240,054
Other creditors 82,988 82,205
1,057,244 1,572,387

PROLOGIC SERVICES LIMITED (REGISTERED NUMBER: 05258589)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 26,612 36,461
Hire purchase contracts 550,597 303,280
577,209 339,741

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 848,198 538,775

The Hire purchase creditors are secured on the individual assets acquired under them.