Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.222022-12-01Renting and leasing of office machinery and equipment (including computers)29falsetruefalse 07885478 2022-12-01 2023-11-30 07885478 2021-12-01 2022-11-30 07885478 2023-11-30 07885478 2022-11-30 07885478 2021-12-01 07885478 c:Director1 2022-12-01 2023-11-30 07885478 d:Buildings 2022-12-01 2023-11-30 07885478 d:Buildings 2023-11-30 07885478 d:Buildings 2022-11-30 07885478 d:Buildings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 07885478 d:OtherPropertyPlantEquipment 2022-12-01 2023-11-30 07885478 d:OtherPropertyPlantEquipment 2023-11-30 07885478 d:OtherPropertyPlantEquipment 2022-11-30 07885478 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 07885478 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 07885478 d:ComputerSoftware 2023-11-30 07885478 d:ComputerSoftware 2022-11-30 07885478 d:CurrentFinancialInstruments 2023-11-30 07885478 d:CurrentFinancialInstruments 2022-11-30 07885478 d:Non-currentFinancialInstruments 2023-11-30 07885478 d:Non-currentFinancialInstruments 2022-11-30 07885478 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 07885478 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 07885478 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 07885478 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 07885478 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 07885478 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 07885478 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 07885478 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 07885478 d:ShareCapital 2023-11-30 07885478 d:ShareCapital 2022-11-30 07885478 d:RetainedEarningsAccumulatedLosses 2023-11-30 07885478 d:RetainedEarningsAccumulatedLosses 2022-11-30 07885478 c:OrdinaryShareClass1 2022-12-01 2023-11-30 07885478 c:OrdinaryShareClass1 2023-11-30 07885478 c:OrdinaryShareClass2 2022-12-01 2023-11-30 07885478 c:OrdinaryShareClass2 2023-11-30 07885478 c:FRS102 2022-12-01 2023-11-30 07885478 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 07885478 c:FullAccounts 2022-12-01 2023-11-30 07885478 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07885478 d:WithinOneYear 2023-11-30 07885478 d:WithinOneYear 2022-11-30 07885478 d:BetweenOneFiveYears 2023-11-30 07885478 d:BetweenOneFiveYears 2022-11-30 07885478 d:MoreThanFiveYears 2023-11-30 07885478 d:MoreThanFiveYears 2022-11-30 07885478 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2022-12-01 2023-11-30 07885478 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 07885478 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 07885478 d:ComputerSoftware d:OwnedIntangibleAssets 2022-12-01 2023-11-30 07885478 e:PoundSterling 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07885478









LOGIXAL DOCUMENT SOLUTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
LOGIXAL DOCUMENT SOLUTIONS LIMITED
REGISTERED NUMBER: 07885478

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023


2023

2022
Note
£
£
£
£

Fixed assets
  

Intangible assets
 4 
32,581
40,115

Tangible assets
 5 
128,100
151,112

  
160,681
191,227

Current assets
  

Stocks
 6 
305,462
329,766

Debtors: amounts falling due within one year
 7 
2,562,355
1,445,454

Cash at bank and in hand
 8 
586,215
894,723

  
3,454,032
2,669,943

Creditors: amounts falling due within one year
 9 
(2,317,044)
(1,719,907)

Net current assets
  
 
 
1,136,988
 
 
950,036

Total assets less current liabilities
  
1,297,669
1,141,263

Creditors: amounts falling due after more than one year
 10 
(611,442)
(558,810)

Provisions for liabilities
  

Deferred tax
 12 
(27,400)
(31,900)

Net assets
  
658,827
550,553


Capital and reserves
  

Called up share capital 
 13 
250,000
250,000

Profit and loss account
  
408,827
300,553

  
658,827
550,553


Page 1

 
LOGIXAL DOCUMENT SOLUTIONS LIMITED
REGISTERED NUMBER: 07885478
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 August 2024.




D P Hoile
Director

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
LOGIXAL DOCUMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Logixal Document Solutions Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, Middlesex, UB8 2FX.
The company specialises in the sale and rental of office equipment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors note that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the date of approval of these financial statements. As such, the directors believe that there are not significant uncertainties in their assessment of whether the company is a going concern and therefore have prepared the accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 3

 
LOGIXAL DOCUMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Land and buildings
-
10% to 20% Straight line
Other fixed assets
-
14.33% to 50% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
LOGIXAL DOCUMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to Statement of comprehensive income at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same year as the related expenditure.

 
2.10

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. 
Financial assets that are measured at cost and amortised cost are assessed at each reporting date for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

  
2.11

Creditors

Creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Finance costs

Finance costs are charged to Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
LOGIXAL DOCUMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.14

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to Statement of comprehensive income on a straight-line basis over the lease term.

 
2.15

Borrowing costs

All borrowing costs are recognised in Statement of comprehensive income in the year in which they are incurred.

 
2.16

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.17

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 6

 
LOGIXAL DOCUMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.18

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 29 (2022 - 22).

Page 7

 
LOGIXAL DOCUMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Intangible assets




Software

£



Cost


At 1 December 2022
54,332


Additions
8,443



At 30 November 2023

62,775



Amortisation


At 1 December 2022
14,217


Charge for the year
15,977



At 30 November 2023

30,194



Net book value



At 30 November 2023
32,581



At 30 November 2022
40,115



Page 8

 
LOGIXAL DOCUMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Tangible fixed assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost 


At 1 December 2022
32,798
587,367
620,165


Additions
-
38,820
38,820


Disposals
-
(12,444)
(12,444)



At 30 November 2023

32,798
613,743
646,541



Depreciation


At 1 December 2022
16,036
453,017
469,053


Charge for the year
3,930
57,902
61,832


Disposals
-
(12,444)
(12,444)



At 30 November 2023

19,966
498,475
518,441



Net book value



At 30 November 2023
12,832
115,268
128,100



At 30 November 2022
16,762
134,350
151,112


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
305,462
329,766

305,462
329,766


Page 9

 
LOGIXAL DOCUMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
467,421
137,076

Other debtors
902,707
670,066

Prepayments and accrued income
1,192,227
638,312

2,562,355
1,445,454


Included within other debtors is a rent deposit amounting to £23,051 (2022 - £23,051) which has a charge held against that amount.


8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
586,215
894,723

586,215
894,723



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
328,627
297,597

Trade creditors
665,543
649,987

Corporation tax
51,881
194,204

Other taxation and social security
199,166
87,253

Other creditors
70,238
71,669

Accruals and deferred income
1,001,589
419,197

2,317,044
1,719,907


Page 10

 
LOGIXAL DOCUMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
611,442
558,810

611,442
558,810



11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
328,627
297,597

Amounts falling due 1-2 years

Bank loans
276,532
204,283

Amounts falling due 2-5 years

Bank loans
334,910
354,527


940,069
856,407


Page 11

 
LOGIXAL DOCUMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

12.


Deferred taxation




2023
2022


£

£






At beginning of year
31,900
35,600


Credited to the Statement of comprehensive income
(4,500)
(3,700)



At end of year
27,400
31,900

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
27,400
31,900

27,400
31,900


13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



12,500 Ordinary shares of £1 each
12,500
12,500
237,500 Ordinary A shares of £1 each
237,500
237,500

250,000

250,000


The Ordinary shares and Ordinary A shares are separate classes of shares for the purpose of declaration of dividends. The shares rank pari passu in all other respects.



14.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £43,655 (2022 - £42,610). The contribution outstanding at the reporting date amounted to £6,082 (2022 - £4,088).

Page 12

 
LOGIXAL DOCUMENT SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

15.


Commitments under operating leases

At 30 November 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
147,851
147,851

Later than 1 year and not later than 5 years
182,851
325,702

Later than 5 years
-
5,000

330,702
478,553


16.


Transactions with directors

Included within other debtors is an amount of £719,424 (2022 - £488,953) owed by the directors


17.


Controlling party

The ultimate controlling parties of the company are a director and a close family member by virtue of their majority shareholding.

 
Page 13