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REGISTERED NUMBER: 07272388 (England and Wales)















LOGIC VEHICLE PREPARATION CENTRE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022






LOGIC VEHICLE PREPARATION CENTRE LIMITED (REGISTERED NUMBER: 07272388)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOGIC VEHICLE PREPARATION CENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2022







DIRECTORS: C Ferguson
A C Ferguson
D G Mcdermott
J W Walker





REGISTERED OFFICE: The Bunker
Quinn Close
Coventry
West Midlands
CV3 4LH





REGISTERED NUMBER: 07272388 (England and Wales)





ACCOUNTANTS: Murphy Salisbury Limited
Chartered Accountants
Celixir House
Stratford Business and Technology Park
Stratford-upon-Avon
Warwickshire
CV37 7GZ

LOGIC VEHICLE PREPARATION CENTRE LIMITED (REGISTERED NUMBER: 07272388)

BALANCE SHEET
30 NOVEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,025 37,843

CURRENT ASSETS
Stocks 19,800 21,000
Debtors 5 58,770 54,645
Cash at bank 3,099 13,675
81,669 89,320
CREDITORS
Amounts falling due within one year 6 91,660 89,511
NET CURRENT LIABILITIES (9,991 ) (191 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,034

37,652

CREDITORS
Amounts falling due after more than one
year

7

(15,212

)

(20,000

)

PROVISIONS FOR LIABILITIES (5,006 ) (5,203 )
NET (LIABILITIES)/ASSETS (10,184 ) 12,449

CAPITAL AND RESERVES
Called up share capital 120 120
Share premium 9,980 9,980
Retained earnings (20,284 ) 2,349
SHAREHOLDERS' FUNDS (10,184 ) 12,449

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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.

LOGIC VEHICLE PREPARATION CENTRE LIMITED (REGISTERED NUMBER: 07272388)

BALANCE SHEET - continued
30 NOVEMBER 2022


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 23 August 2023 and were signed on its behalf by:





C Ferguson - Director


LOGIC VEHICLE PREPARATION CENTRE LIMITED (REGISTERED NUMBER: 07272388)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

1. STATUTORY INFORMATION

Logic Vehicle Preparation Centre 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.

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.

The Directors have agreed to provide financial support to the company for the foreseeable future. On the basis of continued support the Directors consider it appropriate to prepare the financial statements on the going concern basis.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% straight line basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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.

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.

LOGIC VEHICLE PREPARATION CENTRE LIMITED (REGISTERED NUMBER: 07272388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022

2. ACCOUNTING POLICIES - continued

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 5 (2021 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 December 2021 21,968 38,041 835
Disposals - - -
At 30 November 2022 21,968 38,041 835
DEPRECIATION
At 1 December 2021 11,507 18,245 560
Charge for year 6,974 4,949 55
Eliminated on disposal - - -
At 30 November 2022 18,481 23,194 615
NET BOOK VALUE
At 30 November 2022 3,487 14,847 220
At 30 November 2021 10,461 19,796 275

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2021 40,968 3,255 105,067
Disposals (40,968 ) - (40,968 )
At 30 November 2022 - 3,255 64,099
DEPRECIATION
At 1 December 2021 35,348 1,564 67,224
Charge for year 1,405 220 13,603
Eliminated on disposal (36,753 ) - (36,753 )
At 30 November 2022 - 1,784 44,074
NET BOOK VALUE
At 30 November 2022 - 1,471 20,025
At 30 November 2021 5,620 1,691 37,843

LOGIC VEHICLE PREPARATION CENTRE LIMITED (REGISTERED NUMBER: 07272388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 58,770 54,645

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 5,024 5,000
Trade creditors 25,698 16,739
Taxation and social security 12,604 18,254
Other creditors 48,334 49,518
91,660 89,511

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 15,212 20,000