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REGISTERED NUMBER: SC108323 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

LOGIK IMAGE MANAGEMENT LIMITED

LOGIK IMAGE MANAGEMENT LIMITED (REGISTERED NUMBER: SC108323)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOGIK IMAGE MANAGEMENT LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: S G Wallace





SECRETARY: Mrs S Wallace





REGISTERED OFFICE: 1st Floor, 5 Abercrombie Court
Arnhall Business Park
Prospect Road
Westhill
Aberdeenshire
AB32 6FE





REGISTERED NUMBER: SC108323 (Scotland)





ACCOUNTANTS: Fyfe Moir & Associates
1st Floor, 5 Abercrombie Crt
Prospect Road,
Westhill
Aberdeenshire
Grampian
AB32 6FE

LOGIK IMAGE MANAGEMENT LIMITED (REGISTERED NUMBER: SC108323)

Balance Sheet
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,941 5,821
Investments 5 - -
5,941 5,821

CURRENT ASSETS
Debtors 6 2,699 5,454
Cash at bank 11,475 29,704
14,174 35,158
CREDITORS
Amounts falling due within one year 7 5,775 15,767
NET CURRENT ASSETS 8,399 19,391
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,340

25,212

PROVISIONS FOR LIABILITIES 8 870 884
NET ASSETS 13,470 24,328

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings (6,530 ) 4,328
SHAREHOLDERS' FUNDS 13,470 24,328

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LOGIK IMAGE MANAGEMENT LIMITED (REGISTERED NUMBER: SC108323)

Balance Sheet - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 August 2024 and were signed by:





S G Wallace - Director


LOGIK IMAGE MANAGEMENT LIMITED (REGISTERED NUMBER: SC108323)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Logik Image Management Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

LOGIK IMAGE MANAGEMENT LIMITED (REGISTERED NUMBER: SC108323)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 165,108 122,204 102,839 376,780 766,931
Additions - - - 1,960 1,960
At 31 March 2024 165,108 122,204 102,839 378,740 768,891
DEPRECIATION
At 1 April 2023 165,024 121,948 102,504 371,634 761,110
Charge for year 84 59 94 1,603 1,840
At 31 March 2024 165,108 122,007 102,598 373,237 762,950
NET BOOK VALUE
At 31 March 2024 - 197 241 5,503 5,941
At 31 March 2023 84 256 335 5,146 5,821

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 15,532
PROVISIONS
At 1 April 2023
and 31 March 2024 15,532
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 3,474
Prepayments and accrued income 2,699 1,980
2,699 5,454

LOGIK IMAGE MANAGEMENT LIMITED (REGISTERED NUMBER: SC108323)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 450 2,287
Tax (303 ) 693
Social security and other taxes - 204
VAT 466 2,957
Directors' current accounts 16 623
Deferred Income - 5,850
Accrued expenses 5,146 3,153
5,775 15,767

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 870 884

Deferred
tax
£   
Balance at 1 April 2023 884
Movement during the year (14 )
Balance at 31 March 2024 870

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The company pays a commercial rent of £18,000 (£18,000 2023) to the director and his wife for the use of the company premises.