Company Registration No. 14070518 (England and Wales)
Logun Composites Ltd
Unaudited accounts
for the year ended 31 March 2024
Logun Composites Ltd
Unaudited accounts
Contents
Logun Composites Ltd
Company Information
for the year ended 31 March 2024
Directors
Thomas Gooding
Jane Lennon-Knight
Russell Lowman
Matthew Gunn
Company Number
14070518 (England and Wales)
Registered Office
Witts End
Thorncroft Drive
Barnston
Wirral
CH61 1AG
England
Accountants
Aspire Accounting & Financial Management Ltd
WITTS END
THORNCROFT DRIVE
BARNSTON
WIRRAL
CH61 1AG
Logun Composites Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
203,907
212,226
Cash at bank and in hand
112,738
81,439
Creditors: amounts falling due within one year
(168,261)
(259,441)
Net current assets
164,524
15,105
Net assets
368,431
227,331
Called up share capital
350,500
350,500
Profit and loss account
17,931
(123,169)
Shareholders' funds
368,431
227,331
For the year ending 31 March 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 30 April 2024 and were signed on its behalf by
Thomas Gooding
Director
Company Registration No. 14070518
Logun Composites Ltd
Notes to the Accounts
for the year ended 31 March 2024
Logun Composites Ltd is a private company, limited by shares, registered in England and Wales, registration number 14070518. The registered office is Witts End, Thorncroft Drive, Barnston, Wirral, CH61 1AG, England.
2
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:
Plant & machinery
20% Per Year Straight Line
Fixtures & fittings
10% Per Year Straight Line
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2023
12,009
200,491
212,500
Additions
6,245
8,229
14,474
At 31 March 2024
18,254
208,720
226,974
At 1 April 2023
254
20
274
Charge for the year
2,744
20,049
22,793
At 31 March 2024
2,998
20,069
23,067
At 31 March 2024
15,256
188,651
203,907
At 31 March 2023
11,755
200,471
212,226
Logun Composites Ltd
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Trade debtors
89,380
29,501
Accrued income and prepayments
24,352
39,140
Amounts falling due after more than one year
Other debtors
20,400
123,855
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
92,935
47,636
Taxes and social security
10,308
10,064
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Average number of employees
During the year the average number of employees was 7 (2023: 5).