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REGISTERED NUMBER: 05278828 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LOGIC ENGAGEMENTS LIMITED

LOGIC ENGAGEMENTS LIMITED (REGISTERED NUMBER: 05278828)

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


LOGIC ENGAGEMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: I Threlfall
Mrs L M Threlfall
K Somerville-Ford





REGISTERED OFFICE: 45/47 High Street
Cobham
Surrey
KT11 3DP





REGISTERED NUMBER: 05278828 (England and Wales)





ACCOUNTANTS: Galloways Accounting
First Floor
Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1DY

LOGIC ENGAGEMENTS LIMITED (REGISTERED NUMBER: 05278828)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,406 37,679
Investments 5 52,088 51,524
81,494 89,203

CURRENT ASSETS
Debtors 6 755,811 591,181
Cash at bank 4,625 151
760,436 591,332
CREDITORS
Amounts falling due within one year 7 898,573 673,759
NET CURRENT LIABILITIES (138,137 ) (82,427 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(56,643

)

6,776

CREDITORS
Amounts falling due after more than one
year

8

12,500

12,500
NET LIABILITIES (69,143 ) (5,724 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (69,243 ) (5,824 )
(69,143 ) (5,724 )

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 20 September 2024 and were signed on its behalf by:




I Threlfall - Director


LOGIC ENGAGEMENTS LIMITED (REGISTERED NUMBER: 05278828)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Logic Engagements 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
In relation to contract placements, turnover is recognised by the company in respect of services supplied on a month by month basis, exclusive of value added tax and local taxes. For permanent placements turnover is recognised at the start of the placement.

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 - 33% on cost

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Fixed asset investments
Fixed asset investments are stated at historical cost less provision for any diminution in value.

Invoice discounting
The company has an agreement whereby sales invoices can be discounted, with recourse after a set period of time. On the basis that the benefits and risks attaching to the debts remain with the company, a separate presentation has been adopted in accordance with the FRS 102 1A. On this basis the gross debts are included as an asset within trade debtors and the monies advanced are included within bank loans and overdrafts as a liability. Where monies are owed from the bank the balance is included within cash at bank and in hand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

LOGIC ENGAGEMENTS LIMITED (REGISTERED NUMBER: 05278828)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023 131,421
Additions 1,267
At 31 December 2023 132,688
DEPRECIATION
At 1 January 2023 93,742
Charge for year 9,540
At 31 December 2023 103,282
NET BOOK VALUE
At 31 December 2023 29,406
At 31 December 2022 37,679

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023 51,524
Additions 5,564
Disposals (5,000 )
At 31 December 2023 52,088
NET BOOK VALUE
At 31 December 2023 52,088
At 31 December 2022 51,524

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 566,490 369,818
Amounts owed by group undertakings 1,414 -
Tax 6,203 6,208
Prepayments and accrued income 181,704 215,155
755,811 591,181

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 2,083 67,122
Trade creditors 21,451 29,695
Social security and other taxes 44,063 77,216
Other creditors 587,522 293,596
Directors' current accounts 80,515 -
Accruals and deferred income 162,939 206,130
898,573 673,759

LOGIC ENGAGEMENTS LIMITED (REGISTERED NUMBER: 05278828)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 12,500 12,500