Logsys Engineering Limited 09044023 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is engineering related scientific and technical consulting Digita Accounts Production Advanced 6.30.9574.0 true 09044023 2022-06-01 2023-05-31 09044023 2023-05-31 09044023 core:CurrentFinancialInstruments 2023-05-31 09044023 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 09044023 core:OfficeEquipment 2023-05-31 09044023 bus:SmallEntities 2022-06-01 2023-05-31 09044023 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 09044023 bus:FullAccounts 2022-06-01 2023-05-31 09044023 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 09044023 bus:RegisteredOffice 2022-06-01 2023-05-31 09044023 bus:Director1 2022-06-01 2023-05-31 09044023 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 09044023 core:OfficeEquipment 2022-06-01 2023-05-31 09044023 countries:EnglandWales 2022-06-01 2023-05-31 09044023 2022-05-31 09044023 core:OfficeEquipment 2022-05-31 09044023 2021-06-01 2022-05-31 09044023 2022-05-31 09044023 core:CurrentFinancialInstruments 2022-05-31 09044023 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 09044023 core:OfficeEquipment 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 09044023

Logsys Engineering Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Logsys Engineering Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Logsys Engineering Limited

(Registration number: 09044023)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

83

268

Current assets

 

Debtors

6

11,361

14,283

Cash at bank and in hand

 

17,022

10,375

 

28,383

24,658

Creditors: Amounts falling due within one year

7

(23,859)

(19,002)

Net current assets

 

4,524

5,656

Net assets

 

4,607

5,924

Capital and reserves

 

Called up share capital

1,100

1,100

Retained earnings

3,507

4,824

Shareholders' funds

 

4,607

5,924

 

Logsys Engineering Limited

(Registration number: 09044023)
Balance Sheet as at 31 May 2023

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 February 2024 and signed on its behalf by:
 

.........................................
D J Englefield
Director

 

Logsys Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of consultancy services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Logsys Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Debtors

Trade debtors are amounts due from customers for consultancy services performed in the ordinary course of business.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

185

326

 

Logsys Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 June 2022

2,108

2,108

At 31 May 2023

2,108

2,108

Depreciation

At 1 June 2022

1,840

1,840

Charge for the year

185

185

At 31 May 2023

2,025

2,025

Carrying amount

At 31 May 2023

83

83

At 31 May 2022

268

268

6

Debtors

Current

2023
£

2022
£

Trade debtors

11,361

14,283

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

461

-

Taxation and social security

22,504

18,361

Other creditors

894

641

23,859

19,002