2022-06-012023-05-312023-05-31false01514958LOGIC PROGRAMMING ASSOCIATES 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LOGIC PROGRAMMING ASSOCIATES LIMITED

Registered Number
01514958
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

LOGIC PROGRAMMING ASSOCIATES LIMITED
Company Information
for the year from 1 June 2022 to 31 May 2023

Directors

SPENSER, Clive
STEEL, Brian David

Registered Address

6 Edison Village
Nottingham Science & Technology Park
Nottingham
NG7 2RF

Registered Number

01514958 (England and Wales)
LOGIC PROGRAMMING ASSOCIATES LIMITED
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets52,8922,217
2,8922,217
Current assets
Debtors75,77917,581
Cash at bank and on hand19,2388,354
25,01725,935
Creditors amounts falling due within one year8(17,856)(17,553)
Net current assets (liabilities)7,1618,382
Total assets less current liabilities10,05310,599
Creditors amounts falling due after one year9(6,000)(9,000)
Net assets4,0531,599
Capital and reserves
Called up share capital22,34022,340
Share premium35,66035,660
Profit and loss account(53,947)(56,401)
Shareholders' funds4,0531,599
The financial statements were approved and authorised for issue by the Board of Directors on 24 October 2023, and are signed on its behalf by:
SPENSER, Clive
Director
Registered Company No. 01514958
LOGIC PROGRAMMING ASSOCIATES LIMITED
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year33
5.Property, plant and equipment

Plant & machinery

Total

££
Cost or valuation
At 01 June 2211,04111,041
Additions1,6401,640
At 31 May 2312,68112,681
Depreciation and impairment
At 01 June 228,8248,824
Charge for year965965
At 31 May 239,7899,789
Net book value
At 31 May 232,8922,892
At 31 May 222,2172,217
6.Description of nature of transactions and balances with related parties
During the year the Company had interest free loans outstanding to the Directors of £10,342. (2022: £10,906).
7.Debtors

2023

2022

££
Trade debtors / trade receivables1,2779,140
Other debtors4,5028,441
Total5,77917,581
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables-179
Bank borrowings and overdrafts3,0003,000
Amounts owed to related parties10,34210,906
Taxation and social security1,3281,169
Other creditors887-
Accrued liabilities and deferred income2,2992,299
Total17,85617,553
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts6,0009,000
Total6,0009,000