Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07409180 Ms Susan Walker Mr Andrew Lazarus AF Premier Limited 82 Wandsworth Bridge Road, London SW6 2TF true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07409180 2022-12-31 07409180 2023-12-31 07409180 2023-01-01 2023-12-31 07409180 frs-core:CurrentFinancialInstruments 2023-12-31 07409180 frs-core:Non-currentFinancialInstruments 2023-12-31 07409180 frs-core:ComputerEquipment 2023-12-31 07409180 frs-core:ComputerEquipment 2023-01-01 2023-12-31 07409180 frs-core:ComputerEquipment 2022-12-31 07409180 frs-core:OtherResidualIntangibleAssets 2023-12-31 07409180 frs-core:OtherResidualIntangibleAssets 2022-12-31 07409180 frs-core:ShareCapital 2023-12-31 07409180 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07409180 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07409180 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07409180 frs-bus:SmallEntities 2023-01-01 2023-12-31 07409180 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07409180 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07409180 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 07409180 frs-bus:OrdinaryShareClass1 2023-12-31 07409180 frs-bus:PreferenceShareClass1 2023-01-01 2023-12-31 07409180 frs-bus:PreferenceShareClass1 2023-12-31 07409180 1 2023-01-01 2023-12-31 07409180 frs-bus:Director1 2023-01-01 2023-12-31 07409180 frs-bus:Director2 2023-01-01 2023-12-31 07409180 frs-countries:EnglandWales 2023-01-01 2023-12-31 07409180 2021-12-31 07409180 2022-12-31 07409180 2022-01-01 2022-12-31 07409180 frs-core:CurrentFinancialInstruments 2022-12-31 07409180 frs-core:Non-currentFinancialInstruments 2022-12-31 07409180 frs-core:ShareCapital 2022-12-31 07409180 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 07409180 frs-bus:OrdinaryShareClass1 2022-01-01 2022-12-31 07409180 frs-bus:PreferenceShareClass1 2022-01-01 2022-12-31
Registered number: 07409180
Logbook Lending Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
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Balance Sheet
Registered number: 07409180
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 190 551
190 551
CURRENT ASSETS
Debtors 6 1,348,059 834,150
Cash at bank and in hand 146,980 12,537
1,495,039 846,687
Creditors: Amounts Falling Due Within One Year 7 (280,215 ) (652,311 )
NET CURRENT ASSETS (LIABILITIES) 1,214,824 194,376
TOTAL ASSETS LESS CURRENT LIABILITIES 1,215,014 194,927
Creditors: Amounts Falling Due After More Than One Year 8 (1,002,396 ) (25,780 )
NET ASSETS 212,618 169,147
CAPITAL AND RESERVES
Called up share capital 9 250,100 250,100
Profit and Loss Account (37,482 ) (80,953 )
SHAREHOLDERS' FUNDS 212,618 169,147
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Lazarus
Director
8th February 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Logbook Lending Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07409180 . The registered office is 82 Wandsworth Bridge Road, London, SW6 2TF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director, having considered the company forecasts and projections and after making enquiries has a reasonable expectation that the company has adequate resources to continue in operational existance for the forerseeable future.Accordingly the financial statements have been prepared on a going concern basis. Notably this expectation has been based on the assumption that the director and the company's creditors will continue to support the company and that the company will trade profitably.
2.3. Turnover
Turnover represents interest earned from loans and the sale of repossessed vehicles held as security. Interest income is recognised in the period in which it is earned. Proceeds from the sale of the vehicles are recognised when the title has passed.

2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33.33% Striaght Line
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
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4. Intangible Assets
Other
£
Cost
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 -
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2023 1,834
As at 31 December 2023 1,834
Depreciation
As at 1 January 2023 1,283
Provided during the period 361
As at 31 December 2023 1,644
Net Book Value
As at 31 December 2023 190
As at 1 January 2023 551
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,003,815 634,117
Prepayments and accrued income 272,083 129,867
Other debtors 72,161 70,166
1,348,059 834,150
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 12,950 16,596
Bank loans and overdrafts 10,119 9,870
Other taxes and social security 3,053 8,176
Other creditors 225,000 572,510
Accruals and deferred income 18,073 9,200
Directors' loan accounts 7,375 34,868
Amounts owed to group undertakings 3,645 1,091
280,215 652,311
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 15,661 25,780
Other creditors 986,735 -
1,002,396 25,780
9. Share Capital
2023 2022
Allotted, called up and fully paid £ £
50,100 Ordinary Shares of £ 1.000 each 50,100 50,100
Preference Shares
2023 2022
Allotted, called up and fully paid £ £
200,000 Preference Shares of £ 1.000 each 200,000 200,000
The Redeemable Preference Shares were issued with the following rights and subject to the following restrictions:

(i) as to dividend: a holder of Redeemable Preference Shares shall be entitled (in priority to any payment of dividend on any other class of shares) to a fixed cumulative preferential dividend of such amount as shall result in the payment of a net cash dividend of 0 per cent.per annum on the nominal amount of the Redeemable Preference Shares held by him, such dividend to accrue annually and to be payable, in respect of each accounting reference period of the Company, within 21 days of the end of such period;

(ii) as to capital: on a return of assets on a winding up or otherwise, the Redeemable Preference Shares shall confer the right to be paid out of the assets of the Company available for distribution amongst the members the capital paid up on such shares in priority to any amounts of capital paid to the holders of any other class of shares issued by the Company from time to time but shall not confer any right to participate in any surplus remaining following payment of such amounts;

(iii) as to voting: the Redeemable Preference Shares shall not confer any right to receive notice of or to attend or vote at any general meeting of the Company;

(iv) as to redemption: the Company may at its discretion, by notice in writing and upon tendering to a registered holder of Redeemable Preference Shares the amount of capital paid up thereon, redeem any Redeemable Preference Shares at any time and subject any event not earlier than three years from the issue date (subject to the provisions of the Act) and such holder shall be bound to deliver up any certificate which he may have representing the same; and upon redemption the name of the registered holder shall be removed from the register of members of the Company; and

(v) as to certificates: the Company shall not be obliged to issue a certificate in respect of a Redeemable Preference Share until the date falling 180 days after the allotment and issue of the same, and any transfers of redeemable preference shares during such period shall be certified against the Register.

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10. Pension Commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £Nil (2021: £508) were due to the fund. They are included in Other Creditors.
11. Related Party Transactions
GKomb LImitedAndrew Lazarus has a significany interest in GKomb Limited.The company lent funds to GKomb Limited on an unsecured, interest free basis with no fixed date foe repaymemt. The balance outstanding at 31 December 2023 was £7,500 (2022: £Nil).

GKomb LImited

Andrew Lazarus has a significany interest in GKomb Limited.

The company lent funds to GKomb Limited on an unsecured, interest free basis with no fixed date foe repaymemt. The balance outstanding at 31 December 2023 was £7,500 (2022: £Nil).

Andrew LazarusDirector,Mr. Lazarus has a credit loan balance with the company which is lent on an unsecured, interest free basis with no fixed date for repayment. The amount due to the related party at 31 December 2023 was £7,375 (2022: £34,868)

Andrew Lazarus

Director

,Mr. Lazarus has a credit loan balance with the company which is lent on an unsecured, interest free basis with no fixed date for repayment. The amount due to the related party at 31 December 2023 was £7,375 (2022: £34,868)

AF Premier LtdParent companyFunds have been made available by the parent company during the year on an unsecured interest free basis with no fixed date for repayment. At the year end the balance owed to AF Premier Ltd amounted to £3,645 (2022: £1,091).

AF Premier Ltd

Parent company

Funds have been made available by the parent company during the year on an unsecured interest free basis with no fixed date for repayment. At the year end the balance owed to AF Premier Ltd amounted to £3,645 (2022: £1,091).

12. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is AF Premier Limited . AF Premier Limited was incorporated in England & Wales. Copies of the group accounts may be obtained from the secretary, 82 Wandsworth Bridge Road, London SW6 2TF . The ultimate controlling party is AF Premier Limited who controls 100% of the voting shares of Logbook Lending Limited .
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