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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
Page
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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
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Logun Composites Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
203,907 
212,226 
Current assets
Inventories
8,070 
- 
Debtors
211,977 
193,107 
Cash at bank and in hand
112,738 
81,439 
332,785 
274,546 
Creditors: amounts falling due within one year
(168,261)
(259,441)
Net current assets
164,524 
15,105 
Net assets
368,431 
227,331 
Capital and reserves
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
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Logun Composites Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
4
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 
Depreciation
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 
Net book value
At 31 March 2024
15,256 
188,651 
203,907 
At 31 March 2023
11,755 
200,471 
212,226 
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Logun Composites Ltd Notes to the Accounts for the year ended 31 March 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
111 
Trade debtors
89,380 
29,501 
Accrued income and prepayments
24,352 
39,140 
Other debtors
77,845 
500 
191,577 
69,252 
Amounts falling due after more than one year
Other debtors
20,400 
123,855 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
(42)
- 
Trade creditors
92,935 
47,636 
Taxes and social security
10,308 
10,064 
Other creditors
52,948 
- 
Accruals
12,112 
201,741 
168,261 
259,441 
7
Average number of employees
During the year the average number of employees was 7 (2023: 5).
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