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REGISTERED NUMBER: 05258589 (England and Wales)
















PROLOGIC SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






PROLOGIC SERVICES LIMITED (REGISTERED NUMBER: 05258589)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PROLOGIC SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M.R. Stennett
B.R. Manley
T.J. Griffiths





SECRETARY: T.J. Griffiths





REGISTERED OFFICE: Suite 2A
Unit 1, Orwell House
Ferry Lane
Felixstowe
Suffolk
IP11 3QL





REGISTERED NUMBER: 05258589 (England and Wales)





ACCOUNTANTS: CR Bland Baker Limited
Chartered Accountants
21 Lodge Lane
Grays
Essex
RM17 5RY

PROLOGIC SERVICES LIMITED (REGISTERED NUMBER: 05258589)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,466,724 1,386,378

CURRENT ASSETS
Debtors 5 1,852,194 1,533,921
Cash at bank and in hand 1,585,610 1,354,032
3,437,804 2,887,953
CREDITORS
Amounts falling due within one year 6 1,246,224 1,057,244
NET CURRENT ASSETS 2,191,580 1,830,709
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,658,304

3,217,087

CREDITORS
Amounts falling due after more than one
year

7

(502,486

)

(577,209

)

PROVISIONS FOR LIABILITIES (344,000 ) (260,000 )
NET ASSETS 2,811,818 2,379,878

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,811,718 2,379,778
SHAREHOLDERS' FUNDS 2,811,818 2,379,878

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

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

PROLOGIC SERVICES LIMITED (REGISTERED NUMBER: 05258589)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





M.R. Stennett - Director


PROLOGIC SERVICES LIMITED (REGISTERED NUMBER: 05258589)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Prologic Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PROLOGIC SERVICES LIMITED (REGISTERED NUMBER: 05258589)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 makes contributions to the personal pension scheme of a director and employee. It also contributes to employees under an auto-enrolment scheme.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 29 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 4,122 2,596,802 2,600,924
Additions - 585,601 585,601
Disposals - (387,792 ) (387,792 )
At 31 March 2024 4,122 2,794,611 2,798,733
DEPRECIATION
At 1 April 2023 - 1,214,546 1,214,546
Charge for year - 413,497 413,497
Eliminated on disposal - (296,034 ) (296,034 )
At 31 March 2024 - 1,332,009 1,332,009
NET BOOK VALUE
At 31 March 2024 4,122 1,462,602 1,466,724
At 31 March 2023 4,122 1,382,256 1,386,378

PROLOGIC SERVICES LIMITED (REGISTERED NUMBER: 05258589)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 1,256,222
Additions 484,000
Disposals (17,792 )
Transfer to ownership (90,000 )
At 31 March 2024 1,632,430
DEPRECIATION
At 1 April 2023 257,049
Charge for year 305,125
Eliminated on disposal (11,669 )
Transfer to ownership (37,969 )
At 31 March 2024 512,536
NET BOOK VALUE
At 31 March 2024 1,119,894
At 31 March 2023 999,173

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,520,328 1,301,200
Other debtors 331,866 232,721
1,852,194 1,533,921

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,098 9,849
Hire purchase contracts 390,534 297,601
Trade creditors 459,303 481,342
Taxation and social security 356,315 185,464
Other creditors 29,974 82,988
1,246,224 1,057,244

PROLOGIC SERVICES LIMITED (REGISTERED NUMBER: 05258589)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 16,514 26,612
Hire purchase contracts 485,972 550,597
502,486 577,209

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 876,506 848,198

The Hire purchase creditors are secured on the individual assets acquired under them.