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Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Strait Logics Limited

Strait Logics Limited (Registered number: 03304543)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Strait Logics Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: S Shingadia
Mrs D Shingadia





REGISTERED OFFICE: 146 High Street
Billericay
Essex
CM12 9DF





REGISTERED NUMBER: 03304543 (England and Wales)





ACCOUNTANTS: Michael Letch & Partners LLP
Accountants and Statutory Auditors
146 High Street
Billericay
Essex
CM12 9DF

Strait Logics Limited (Registered number: 03304543)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,846 36,383
Investments 5 7,500 7,500
34,346 43,883

CURRENT ASSETS
Debtors 6 433,156 337,327
Cash at bank and in hand 460,484 413,059
893,640 750,386
CREDITORS
Amounts falling due within one year 7 61,982 125,710
NET CURRENT ASSETS 831,658 624,676
TOTAL ASSETS LESS CURRENT
LIABILITIES

866,004

668,559

CREDITORS
Amounts falling due after more than one
year

8

10,639

19,325
NET ASSETS 855,365 649,234

CAPITAL AND RESERVES
Called up share capital 98 98
Retained earnings 855,267 649,136
SHAREHOLDERS' FUNDS 855,365 649,234

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Strait Logics Limited (Registered number: 03304543)

Balance Sheet - continued
31 January 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 Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





Mrs D Shingadia - Director


Strait Logics Limited (Registered number: 03304543)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Strait Logics 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

Going concern
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.

After making enquires, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason the directors continue to adopt the going concern basis in preparing the financial statements.

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.
Plant and machinery etc - 25% on reducing balance and Straight line over 3 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

Strait Logics Limited (Registered number: 03304543)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2023
and 31 January 2024 6,000 94,097 1,596
DEPRECIATION
At 1 February 2023 6,000 92,519 1,358
Charge for year - 394 59
At 31 January 2024 6,000 92,913 1,417
NET BOOK VALUE
At 31 January 2024 - 1,184 179
At 31 January 2023 - 1,578 238

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 44,090 36,856 182,639
DEPRECIATION
At 1 February 2023 11,023 35,356 146,256
Charge for year 8,267 817 9,537
At 31 January 2024 19,290 36,173 155,793
NET BOOK VALUE
At 31 January 2024 24,800 683 26,846
At 31 January 2023 33,067 1,500 36,383

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 7,500
NET BOOK VALUE
At 31 January 2024 7,500
At 31 January 2023 7,500

Strait Logics Limited (Registered number: 03304543)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 33,490 24,693
Loan to subsidiary 33,136 52,680
Directors' current accounts 269,075 192,534
Tax 90,478 64,645
Prepayments 6,977 2,775
433,156 337,327

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 8,686 8,278
Trade creditors 9,653 19,352
Tax 25,833 55,980
Social security and other taxes 4,881 32,533
Other creditors 9,129 5,767
Accrued expenses 3,800 3,800
61,982 125,710

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 10,639 19,325