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REGISTERED NUMBER: 05200805 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

LOGIC MEDICAL LIMITED

LOGIC MEDICAL LIMITED (REGISTERED NUMBER: 05200805)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOGIC MEDICAL LIMITED

COMPANY INFORMATION
for the Year Ended 31 August 2023







DIRECTOR: Dr A E Oboh





SECRETARY: Dr M N Ikpoh





REGISTERED OFFICE: 46 Riplingham Road
Kirk Ella
Hull
HU10 7TR





REGISTERED NUMBER: 05200805 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

LOGIC MEDICAL LIMITED (REGISTERED NUMBER: 05200805)

BALANCE SHEET
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,722 20,721
Investments 5 26,817 28,500
44,539 49,221

CURRENT ASSETS
Debtors 6 834 659
Cash at bank 231,181 144,049
232,015 144,708
CREDITORS
Amounts falling due within one year 7 31,120 37,668
NET CURRENT ASSETS 200,895 107,040
TOTAL ASSETS LESS CURRENT
LIABILITIES

245,434

156,261

PROVISIONS FOR LIABILITIES 4,432 3,937
NET ASSETS 241,002 152,324

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 240,002 151,324
SHAREHOLDERS' FUNDS 241,002 152,324

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 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.

LOGIC MEDICAL LIMITED (REGISTERED NUMBER: 05200805)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2024 and were signed by:





Dr A E Oboh - Director


LOGIC MEDICAL LIMITED (REGISTERED NUMBER: 05200805)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Logic Medical Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at 46 Riplingham Road, Kirk Ella, Hull, East Yorkshire, HU10 7TR.

The principal activity of the company is medical services.

The presentational currency of the financial statements is 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 as modified by the revaluation of certain assets.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

All sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

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 etc - 20% on cost and 10% on cost

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.


LOGIC MEDICAL LIMITED (REGISTERED NUMBER: 05200805)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022
and 31 August 2023 27,910
DEPRECIATION
At 1 September 2022 7,189
Charge for year 2,999
At 31 August 2023 10,188
NET BOOK VALUE
At 31 August 2023 17,722
At 31 August 2022 20,721

LOGIC MEDICAL LIMITED (REGISTERED NUMBER: 05200805)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 September 2022 28,500
Revaluations (1,683 )
At 31 August 2023 26,817
NET BOOK VALUE
At 31 August 2023 26,817
At 31 August 2022 28,500

Cost or valuation at 31 August 2023 is represented by:

Other
investments
£   
Valuation in 2023 (1,683 )
Cost 28,500
26,817

The fixed asset investments were valued on an open market basis by the company's investment advisors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 834 659

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 26,387 12,676
Other creditors 4,733 24,992
31,120 37,668

LOGIC MEDICAL LIMITED (REGISTERED NUMBER: 05200805)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023


8. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed its directors £2,944 (2022: £21,662). The loan is free from interest and repayable on demand.