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01/02/2023
31/01/2024
2024-01-31
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No description of principal activities is disclosed
2023-02-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
SC653204
2023-02-01
2024-01-31
SC653204
2024-01-31
SC653204
2023-01-31
SC653204
2022-02-01
2023-01-31
SC653204
2023-01-31
SC653204
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SC653204
core:PlantMachinery
2023-02-01
2024-01-31
SC653204
core:FurnitureFittingsToolsEquipment
2023-02-01
2024-01-31
SC653204
core:MotorVehicles
2023-02-01
2024-01-31
SC653204
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SC653204
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SC653204
bus:LeadAgentIfApplicable
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SC653204
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SC653204
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2024-01-31
SC653204
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SC653204
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2023-01-31
SC653204
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2023-01-31
SC653204
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SC653204
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2024-01-31
SC653204
core:MotorVehicles
2024-01-31
SC653204
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2024-01-31
SC653204
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2023-01-31
SC653204
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2024-01-31
SC653204
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2023-01-31
SC653204
core:RetainedEarningsAccumulatedLosses
2022-02-01
2023-01-31
SC653204
core:RetainedEarningsAccumulatedLosses
2023-02-01
2024-01-31
SC653204
core:ShareCapital
2024-01-31
SC653204
core:ShareCapital
2023-01-31
SC653204
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2024-01-31
SC653204
core:RetainedEarningsAccumulatedLosses
2023-01-31
SC653204
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2022-01-31
SC653204
core:RetainedEarningsAccumulatedLosses
2022-01-31
SC653204
core:PreviouslyStatedAmount
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2024-01-31
SC653204
core:PlantMachinery
2023-01-31
SC653204
core:FurnitureFittingsToolsEquipment
2023-01-31
SC653204
core:MotorVehicles
2023-01-31
SC653204
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2023-02-01
2024-01-31
SC653204
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2023-02-01
2024-01-31
SC653204
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2023-02-01
2024-01-31
SC653204
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2023-02-01
2024-01-31
SC653204
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2023-02-01
2024-01-31
SC653204
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2024-01-31
SC653204
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2023-01-31
SC653204
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2024-01-31
Company registration number:
SC653204
Logan Bruce Limited
Unaudited filleted financial statements
31 January 2024
Logan Bruce Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Logan Bruce Limited
Directors and other information
|
|
|
|
|
Directors |
Mr Rodger Walls |
(Resigned 8 August 2023 |
|
|
Mr Gary Walls |
(Appointed 8 August 2023) |
|
|
Ms Tracey Walls |
(Appointed 8 August 2023) |
|
|
|
|
|
|
|
|
|
Company number |
SC653204 |
|
|
|
|
|
|
|
|
|
|
Registered office |
Unit D Pitreavie Crescent |
|
|
|
Pitreavie Business Park |
|
|
|
Dunfermline |
|
|
|
Fife |
|
|
|
KY11 8UT |
|
|
|
|
|
|
|
|
|
|
Accountants |
Arm in Arm Accounting Limited |
|
|
|
Herkimer House |
|
|
|
Mill Road Industrial Estate |
|
|
|
Linlithgow |
|
|
|
EH49 7SF |
|
|
|
|
|
Logan Bruce Limited
Statement of financial position
31 January 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
211,902 |
|
|
|
157,677 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
211,902 |
|
|
|
157,677 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
6 |
265,586 |
|
|
|
118,574 |
|
|
Cash at bank and in hand |
|
|
7,876 |
|
|
|
- |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
273,462 |
|
|
|
118,574 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
232,955) |
|
|
|
(
180,587) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets/(liabilities) |
|
|
|
|
40,507 |
|
|
|
(
62,013) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
252,409 |
|
|
|
95,664 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
8 |
|
|
(
90,935) |
|
|
|
(
86,320) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
5,444) |
|
|
|
(
5,444) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
156,030 |
|
|
|
3,900 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
Profit and loss account |
|
|
|
|
155,930 |
|
|
|
3,800 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
156,030 |
|
|
|
3,900 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
31 October 2024
, and are signed on behalf of the board by:
Mr Gary Walls
Director
Company registration number:
SC653204
Logan Bruce Limited
Statement of changes in equity
Year ended 31 January 2024
|
|
Called up share capital |
|
Profit and loss account |
Total |
|
|
|
|
|
|
|
£ |
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 February 2022 |
|
100 |
|
853 |
953 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
2,947 |
2,947 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
2,947 |
2,947 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 31 January 2023 and 1 February 2023 |
|
100 |
|
3,800 |
3,900 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
|
152,130 |
152,130 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
|
152,130 |
152,130 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
At 31 January 2024 |
|
100 |
|
155,930 |
156,030 |
|
|
|
|
|
|
|
_______ |
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Logan Bruce Limited
Notes to the financial statements
Year ended 31 January 2024
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Logan Bruce Limited, Unit D Pitreavie Crescent, Pitreavie Business Park, Dunfermline, Fife, KY11 8UT.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Plant and machinery |
- |
25 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
33 % |
straight line |
|
Motor vehicles |
- |
15 % |
reducing balance |
|
Computer Equipment |
- |
33 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
8
(2023:
6
).
The aggregate payroll costs incurred during the year were:
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Wages and salaries |
|
397,278 |
166,037 |
|
Social security costs |
|
37,111 |
15,751 |
|
Other pension costs |
|
7,708 |
3,117 |
|
|
|
_______ |
_______ |
|
|
|
442,097 |
184,905 |
|
|
|
_______ |
_______ |
|
|
|
|
|
5.
Tangible assets
|
|
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Computer Equipment |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 February 2023 |
113,963 |
1,872 |
74,782 |
1,037 |
191,654 |
|
|
|
Additions |
22,167 |
- |
70,401 |
2,240 |
94,808 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 January 2024 |
136,130 |
1,872 |
145,183 |
3,277 |
286,462 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 February 2023 |
22,094 |
842 |
10,079 |
962 |
33,977 |
|
|
|
Charge for the year |
17,105 |
577 |
22,087 |
814 |
40,583 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 January 2024 |
39,199 |
1,419 |
32,166 |
1,776 |
74,560 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 January 2024 |
96,931 |
453 |
113,017 |
1,501 |
211,902 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 January 2023 |
91,869 |
1,030 |
64,703 |
75 |
157,677 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
214,741 |
111,852 |
|
Other debtors |
|
50,845 |
6,722 |
|
|
|
_______ |
_______ |
|
|
|
265,586 |
118,574 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
5,000 |
5,703 |
|
Trade creditors |
|
192,920 |
110,615 |
|
Social security and other taxes |
|
- |
18,991 |
|
Other creditors |
|
35,035 |
45,278 |
|
|
|
_______ |
_______ |
|
|
|
232,955 |
180,587 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
11,663 |
16,667 |
|
Other creditors |
|
79,272 |
69,653 |
|
|
|
_______ |
_______ |
|
|
|
90,935 |
86,320 |
|
|
|
_______ |
_______ |
|
|
|
|
|