Registered number
07681911
Logik Ceilings & Partitioning Limited
Filleted Accounts
30 June 2024
Logik Ceilings & Partitioning Limited
Registered number: 07681911
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Current assets
Stocks 280,466 648,142
Debtors 4 157,757 178,824
Cash at bank and in hand 1,172 4,542
439,395 831,508
Creditors: amounts falling due within one year 5 (341,482) (686,716)
Net current assets 97,913 144,792
Total assets less current liabilities 97,913 144,792
Creditors: amounts falling due after more than one year 6 (87,478) (124,767)
Net assets 10,435 20,025
Capital and reserves
Called up share capital 6 6
Profit and loss account 10,429 20,019
Shareholders' funds 10,435 20,025
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Batley
Director
Approved by the board on 12 October 2024
Logik Ceilings & Partitioning Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant & machinery,Fixtures Fittings, Equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 1,355 4,967 6,322
At 30 June 2024 1,355 4,967 6,322
Depreciation
At 1 July 2023 1,355 4,967 6,322
At 30 June 2024 1,355 4,967 6,322
Net book value
At 30 June 2024 - - -
4 Debtors 2024 2023
£ £
Trade debtors 157,757 178,824
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 18,620 118,832
Trade creditors 55,965 216,188
Taxation and social security costs 265,897 350,696
Other creditors 1,000 1,000
341,482 686,716
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 24,258 61,547
Other creditors 63,220 63,220
87,478 124,767
7 Other information
Logik Ceilings & Partitioning Limited is a private company limited by shares and incorporated in England. Its registered office is:
24 Quartz Close Wokingham Berkshire
RG41 3TS
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