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LOGIC SALES TRAINING LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2023






LOGIC SALES TRAINING LIMITED (REGISTERED NUMBER: 02859719)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


LOGIC SALES TRAINING LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: P S Owens
P M Owens
S J Owens



REGISTERED OFFICE: 4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH



REGISTERED NUMBER: 02859719 (England and Wales)



ACCOUNTANTS: Botros & Co
Chartered Accountants
4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH



BANKERS: National Westminster Bank PLC
1 Waterhouse Street
Halifax
West Yorkshire
HX1 1JA

LOGIC SALES TRAINING LIMITED (REGISTERED NUMBER: 02859719)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 565,828 566,550

CURRENT ASSETS
Debtors 5 2,670 -
Cash at bank and in hand 36,958 57,661
39,628 57,661
CREDITORS
Amounts falling due within one year 6 7,648 19,642
NET CURRENT ASSETS 31,980 38,019
TOTAL ASSETS LESS CURRENT
LIABILITIES

597,808

604,569

CREDITORS
Amounts falling due after more than one
year

7

399,879

404,879
NET ASSETS 197,929 199,690

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 196,929 198,690
SHAREHOLDERS' FUNDS 197,929 199,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 30 January 2024 and were signed on its behalf by:




P S Owens - Director


LOGIC SALES TRAINING LIMITED (REGISTERED NUMBER: 02859719)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Logic Sales Training Limited is a private company, limited by shares , registered in England and Wales. 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
The turnover represents rent receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% 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 3 (2022 - 1 ) .

LOGIC SALES TRAINING LIMITED (REGISTERED NUMBER: 02859719)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 January 2023 510,673 44,288 1,409
Additions - - -
At 31 December 2023 510,673 44,288 1,409
DEPRECIATION
At 1 January 2023 - - 1,190
Charge for year - - 33
At 31 December 2023 - - 1,223
NET BOOK VALUE
At 31 December 2023 510,673 44,288 186
At 31 December 2022 510,673 44,288 219

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 73,113 1,200 630,683
Additions 1,525 - 1,525
At 31 December 2023 74,638 1,200 632,208
DEPRECIATION
At 1 January 2023 62,543 400 64,133
Charge for year 1,814 400 2,247
At 31 December 2023 64,357 800 66,380
NET BOOK VALUE
At 31 December 2023 10,281 400 565,828
At 31 December 2022 10,570 800 566,550

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 2,670 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 142 8,233
Other creditors 7,506 11,409
7,648 19,642

LOGIC SALES TRAINING LIMITED (REGISTERED NUMBER: 02859719)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 234,879 234,879
Other creditors 165,000 170,000
399,879 404,879

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 234,879 234,879

The bank loans are secured by first charge on the properties.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
500 Ordinary Share A £1 500 1,000
150 Ordinary Share B £1 150 -
250 Ordinary Share C £1 250 -
100 Ordinary Share D £1 100 -
1,000 1,000

The following shares were issued during the year for cash at par :

500 Ordinary Share A shares of £1
150 Ordinary Share B shares of £1
250 Ordinary Share C shares of £1
100 Ordinary Share D shares of £1