Company Registration No. 11623730 (England and Wales)
LAYERS LOGIC IT LIMITED
Unaudited accounts
for the year ended 31 October 2023
LAYERS LOGIC IT LIMITED
Unaudited accounts
Contents
LAYERS LOGIC IT LIMITED
Company Information
for the year ended 31 October 2023
Company Number
11623730 (England and Wales)
Registered Office
20-22 Wenlock Road
London
N1 7GU
United Kingdom
Accountants
AY Accountants LLP
2nd floor, 6 Oxford street
Bolton
Greater Manchester
BL1 1RF
LAYERS LOGIC IT LIMITED
Statement of financial position
as at 31 October 2023
Tangible assets
15,665
952
Cash at bank and in hand
19,104
19,226
Creditors: amounts falling due within one year
(518,984)
(573,315)
Net current (liabilities)/assets
(15,509)
3,853
Called up share capital
17,718
17,718
Profit and loss account
(17,562)
(12,913)
Shareholders' funds
156
4,805
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 July 2024 and were signed on its behalf by
Akmal Nawaz Syed
Director
Company Registration No. 11623730
LAYERS LOGIC IT LIMITED
Notes to the Accounts
for the year ended 31 October 2023
LAYERS LOGIC IT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11623730. The registered office is 20-22 Wenlock Road, London, N1 7GU, United Kingdom.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Reducing Balance Method
Computer equipment
Straight Line over 3 years
The director has reasonable expectations that the company has adequate resources to continue in operational existence for a foreseeable future.
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Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2022
-
3,333
3,333
At 31 October 2023
20,887
3,333
24,220
At 1 November 2022
-
2,381
2,381
Charge for the year
5,222
952
6,174
At 31 October 2023
5,222
3,333
8,555
At 31 October 2023
15,665
-
15,665
At 31 October 2022
-
952
952
LAYERS LOGIC IT LIMITED
Notes to the Accounts
for the year ended 31 October 2023
Amounts falling due within one year
Trade debtors
265,232
555,863
Other debtors
219,139
2,079
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
9,842
17,321
Trade creditors
368,800
415,280
Taxes and social security
28,144
19,962
Other creditors
56,404
9,613
Loans from directors
3,617
95,161
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Transactions with related parties
Akmal Nawaz Syed (director) controls the company by his and his associate's 100% ownership of the company's share capital. During the year dividends were paid to Akmal Nawaz Syed (director) amounting to 32,500 (2022: Nil)
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Average number of employees
During the year the average number of employees was 1 (2022: 1).