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REGISTERED NUMBER: 13538166 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 July 2023

for

Logical Compliance Limited

Logical Compliance Limited (Registered number: 13538166)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Logical Compliance Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: J Meates
Mrs L J Meates





REGISTERED OFFICE: 75 Springfield Road
Chelmsford
Essex
CM2 6JB





REGISTERED NUMBER: 13538166 (England and Wales)





ACCOUNTANTS: NSO Associates LLP
75 Springfield Road
Chelmsford
Essex
CM2 6JB

Logical Compliance Limited (Registered number: 13538166)

Balance Sheet
31 July 2023

31.7.22 31.7.23
£    £    Notes £    £   
FIXED ASSETS
1,376 Tangible assets 4 61,156
266,459 Investment property 5 589,110
267,835 650,266

CURRENT ASSETS
7,528 Debtors 6 12,440
8,925 Cash at bank 104
16,453 12,544
CREDITORS
281,614 Amounts falling due within one year 7 620,346
(265,161 ) NET CURRENT LIABILITIES (607,802 )
2,674 TOTAL ASSETS LESS CURRENT
LIABILITIES

42,464

CREDITORS
- Amounts falling due after more than one
year

8

(35,024

)

(261 ) PROVISIONS FOR LIABILITIES (2,573 )
2,413 NET ASSETS 4,867

CAPITAL AND RESERVES
100 Called up share capital 10 100
- Fair value reserve 11 10,968
2,313 Retained earnings (6,201 )
2,413 SHAREHOLDERS' FUNDS 4,867

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

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

Logical Compliance Limited (Registered number: 13538166)

Balance Sheet - continued
31 July 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 Board of Directors and authorised for issue on 19 April 2024 and were signed on its behalf by:





J Meates - Director


Logical Compliance Limited (Registered number: 13538166)

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

1. STATUTORY INFORMATION

Logical Compliance 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 as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 33% on cost, 25% on cost and 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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.

Logical Compliance Limited (Registered number: 13538166)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 2,064
Additions 73,808
At 31 July 2023 75,872
DEPRECIATION
At 1 August 2022 688
Charge for year 14,028
At 31 July 2023 14,716
NET BOOK VALUE
At 31 July 2023 61,156
At 31 July 2022 1,376

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

Plant and
machinery
etc
£   
COST
Additions 61,190
At 31 July 2023 61,190
DEPRECIATION
Charge for year 11,473
At 31 July 2023 11,473
NET BOOK VALUE
At 31 July 2023 49,717

Logical Compliance Limited (Registered number: 13538166)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 266,459
Additions 322,651
At 31 July 2023 589,110
NET BOOK VALUE
At 31 July 2023 589,110
At 31 July 2022 266,459

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2023 13,541
Cost 575,569
589,110

The directors consider the investment property to be valued at its fair value at the balance sheet date, based on their local knowledge of property values.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 9,954 6,384
Other debtors 2,486 1,144
12,440 7,528

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 3,699 -
Taxation and social security 1,653 468
Other creditors 614,994 281,146
620,346 281,614

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 35,024 -

Logical Compliance Limited (Registered number: 13538166)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Hire purchase contracts 38,723 -

J Meates has provided a personal guarantee with regard to the company vehicle.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

11. RESERVES
Fair
value
reserve
£   
Transfer of fair value, net
of deferred tax 10,968

At 31 July 2023 10,968