Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-312022-09-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03672880 2022-09-01 2023-08-31 03672880 2021-09-01 2022-08-31 03672880 2023-08-31 03672880 2022-08-31 03672880 2021-09-01 03672880 1 2022-09-01 2023-08-31 03672880 1 2021-09-01 2022-08-31 03672880 d:Director1 2022-09-01 2023-08-31 03672880 e:PlantMachinery 2022-09-01 2023-08-31 03672880 e:PlantMachinery 2023-08-31 03672880 e:PlantMachinery 2022-08-31 03672880 e:PlantMachinery e:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 03672880 e:FreeholdInvestmentProperty 2023-08-31 03672880 e:FreeholdInvestmentProperty 2022-08-31 03672880 e:FreeholdInvestmentProperty 2 2022-09-01 2023-08-31 03672880 e:CurrentFinancialInstruments 2023-08-31 03672880 e:CurrentFinancialInstruments 2022-08-31 03672880 e:Non-currentFinancialInstruments 2023-08-31 03672880 e:Non-currentFinancialInstruments 2022-08-31 03672880 e:CurrentFinancialInstruments e:WithinOneYear 2023-08-31 03672880 e:CurrentFinancialInstruments e:WithinOneYear 2022-08-31 03672880 e:Non-currentFinancialInstruments e:AfterOneYear 2023-08-31 03672880 e:Non-currentFinancialInstruments e:AfterOneYear 2022-08-31 03672880 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-08-31 03672880 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2022-08-31 03672880 e:ShareCapital 2022-09-01 2023-08-31 03672880 e:ShareCapital 2023-08-31 03672880 e:ShareCapital 2021-09-01 2022-08-31 03672880 e:ShareCapital 2022-08-31 03672880 e:ShareCapital 2021-09-01 03672880 e:InvestmentPropertiesRevaluationReserve 2022-09-01 2023-08-31 03672880 e:InvestmentPropertiesRevaluationReserve 2023-08-31 03672880 e:InvestmentPropertiesRevaluationReserve 1 2022-09-01 2023-08-31 03672880 e:InvestmentPropertiesRevaluationReserve 2021-09-01 2022-08-31 03672880 e:InvestmentPropertiesRevaluationReserve 2022-08-31 03672880 e:InvestmentPropertiesRevaluationReserve 2021-09-01 03672880 e:InvestmentPropertiesRevaluationReserve 1 2021-09-01 2022-08-31 03672880 e:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 03672880 e:RetainedEarningsAccumulatedLosses 2023-08-31 03672880 e:RetainedEarningsAccumulatedLosses 2021-09-01 2022-08-31 03672880 e:RetainedEarningsAccumulatedLosses 2022-08-31 03672880 e:RetainedEarningsAccumulatedLosses 2021-09-01 03672880 e:AcceleratedTaxDepreciationDeferredTax 2023-08-31 03672880 e:AcceleratedTaxDepreciationDeferredTax 2022-08-31 03672880 d:OrdinaryShareClass1 2022-09-01 2023-08-31 03672880 d:OrdinaryShareClass1 2023-08-31 03672880 d:OrdinaryShareClass1 2022-08-31 03672880 d:FRS102 2022-09-01 2023-08-31 03672880 d:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 03672880 d:FullAccounts 2022-09-01 2023-08-31 03672880 d:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 03672880 2 2022-09-01 2023-08-31 03672880 f:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 03672880









LOGAN INVESTMENTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
LOGAN INVESTMENTS LIMITED
REGISTERED NUMBER: 03672880

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,329
1,564

Investment property
 5 
6,200,000
6,050,000

  
6,201,329
6,051,564

Current assets
  

Debtors: amounts falling due within one year
 6 
70,583
446,471

Cash at bank and in hand
 7 
316,505
774,805

  
387,088
1,221,276

Creditors: amounts falling due within one year
 8 
(1,885,106)
(1,744,772)

Net current liabilities
  
 
 
(1,498,018)
 
 
(523,496)

Total assets less current liabilities
  
4,703,311
5,528,068

Creditors: amounts falling due after more than one year
 9 
-
(1,196,250)

Provisions for liabilities
  

Deferred tax
 11 
(553,218)
(372,946)

  
 
 
(553,218)
 
 
(372,946)

Net assets
  
4,150,093
3,958,872


Capital and reserves
  

Called up share capital 
 12 
100
100

Investment property reserve
  
2,516,192
2,403,692

Profit and loss account
  
1,633,801
1,555,080

  
4,150,093
3,958,872


Page 1

 
LOGAN INVESTMENTS LIMITED
REGISTERED NUMBER: 03672880

BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 February 2024.




D E Button
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
LOGAN INVESTMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2023


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 September 2021
100
2,322,692
1,362,523
3,685,315


Comprehensive income for the year

Profit for the year
-
-
273,557
273,557
Total comprehensive income for the year
-
-
273,557
273,557

Transfer to investment property fair value reserve
-
-
(81,000)
(81,000)

Transfer from profit and loss account
-
81,000
-
81,000


Total transactions with owners
-
81,000
(81,000)
-



At 1 September 2022
100
2,403,692
1,555,080
3,958,872


Comprehensive income for the year

Profit for the year
-
-
191,221
191,221
Total comprehensive income for the year
-
-
191,221
191,221

Transfer to/from profit and loss account
-
-
(112,500)
(112,500)

Transfer between other reserves
-
112,500
-
112,500


Total transactions with owners
-
112,500
(112,500)
-


At 31 August 2023
100
2,516,192
1,633,801
4,150,093


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
LOGAN INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Logan Investments Limited is a private company, limited by shares, and incorporated in England and Wales. The address of its registered office is Tennyson House, Cambridge Business Park, Cowley Road, Cambridge, CB4 0WZ. The prinicpal activity is disclosed on page 1 of the financial statements.
The functional and presentational currency of the company is pounds sterling (£).
The level of rounding is to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors consider that the resources available to the company will be sufficient for it to be able to continue as a going concern.

 
2.3

Turnover

Turnover comprises revenue recognised by the company in respect of rental income receivable during the year under the terms of the lease, exclusive of Value Added Tax and trade discounts.
The rental income is recognised evenly over the term of the lease.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
LOGAN INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary
Page 5

 
LOGAN INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
LOGAN INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 7

 
LOGAN INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 September 2022
21,544



At 31 August 2023

21,544



Depreciation


At 1 September 2022
19,980


Charge for the year on owned assets
235



At 31 August 2023

20,215



Net book value



At 31 August 2023
1,329



At 31 August 2022
1,564

Page 8

 
LOGAN INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 September 2022
6,050,000


Surplus on revaluation
150,000



At 31 August 2023
6,200,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.

2023
2022
£
£

Revaluation reserves


At 1 September 2022
2,403,692
2,322,692

Net surplus/(deficit) in movement properties
112,500
81,000

At 31 August 2023
2,516,192
2,403,692



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
3,273,361
3,273,361


6.


Debtors

2023
2022
£
£


Trade debtors
2,051
2,318

Amounts owed by group undertakings
55,202
431,733

Other debtors
13,330
12,420

70,583
446,471


Page 9

 
LOGAN INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
316,505
774,805



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
135,000

Trade creditors
383
708

Amounts owed to group undertakings
1,842,632
1,528,023

Corporation tax
5,517
45,248

Other taxation and social security
10,874
11,294

Other creditors
25,700
24,499

1,885,106
1,744,772



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
1,196,250



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
135,000


Amounts falling due 2-5 years

Bank loans
-
1,196,250


-
1,331,250


Page 10

 
LOGAN INVESTMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

11.


Deferred taxation




2023
2022


£

£






At beginning of year
(372,946)
(353,946)


Charged to profit or loss
(180,272)
(19,000)



At end of year
(553,218)
(372,946)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Arising on Investment properties
(553,218)
(372,946)


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



13.


Related party transactions

The Company has taken advantage of the exemption afforded by FRS 102 not to disclose transactions or balances with other wholly owned members of the group.


14.


Controlling party

The immediate and ultimate parent company is Leen Holdings Limited, a company incorporated in England and Wales. Its registered office is Tennyson House, Cambridge Business Park, Cambridge, CB4 0WZ.


Page 11