LOGWOOD COMPUTING LIMITED

Company Registration Number:
02600603 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2024

Period of accounts

Start date: 01 May 2023

End date: 30 April 2024

LOGWOOD COMPUTING LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2024

Balance sheet
Notes

LOGWOOD COMPUTING LIMITED

Balance sheet

As at 30 April 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 17,085 13,850
Total fixed assets: 17,085 13,850
Current assets
Stocks: 102,243 114,754
Debtors:   431,183 219,126
Cash at bank and in hand: 358,163 396,646
Total current assets: 891,589 730,526
Creditors: amounts falling due within one year:   (298,362) (204,863)
Net current assets (liabilities): 593,227 525,663
Total assets less current liabilities: 610,312 539,513
Provision for liabilities: (4,271) (3,462)
Total net assets (liabilities): 606,041 536,051
Capital and reserves
Called up share capital: 650 650
Profit and loss account: 605,391 535,401
Shareholders funds: 606,041 536,051

The notes form part of these financial statements

LOGWOOD COMPUTING LIMITED

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 October 2024
and signed on behalf of the board by:

Name: G Glover
Status: Director

The notes form part of these financial statements

LOGWOOD COMPUTING LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sales of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets and depreciation policy

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less estimated residual value, over their expected useful lives on the following bases: Furniture and equipment 20 % per annum reducing balance basis Fixtures and fittings 15 % per annum reducing balance basis At each balance sheet date, the Company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Valuation and information policy

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell(net realisable value). Costs are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

Other accounting policies

Taxation Taxation represents the sum of tax currently payable and deferred tax. 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liablity 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. Contribution to pension funds The company operates a defined contribution pension scheme and the pension charge represents the amount payable by the company to the fund in respect of the year.

LOGWOOD COMPUTING LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

2. Employees

2024 2023
Average number of employees during the period 10 10

LOGWOOD COMPUTING LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Tangible Assets

Total
Cost £
At 01 May 2023 41,078
Additions 8,333
Disposals (3,316)
At 30 April 2024 46,095
Depreciation
At 01 May 2023 27,228
Charge for year 3,962
On disposals (2,180)
At 30 April 2024 29,010
Net book value
At 30 April 2024 17,085
At 30 April 2023 13,850