Company Registration No. 05303545 (England and Wales)
Logini Finance Limited
Unaudited accounts
for the year ended 29 February 2024
Logini Finance Limited
Unaudited accounts
Contents
Logini Finance Limited
Company Information
for the year ended 29 February 2024
Director
Mr Sivasubramaniam Surenkumar
Company Number
05303545 (England and Wales)
Registered Office
77 Herent Drive
Ilford
IG5 0HF
United Kingdom
Accountants
Daniel Consultancy
Morritt House
54-60 Station Approach
South Ruislip
Ruislip
HA4 6SA
Logini Finance Limited
Statement of financial position
as at 29 February 2024
Intangible assets
77,600
97,000
Tangible assets
72,930
77,186
Cash at bank and in hand
12,834
13,758
Creditors: amounts falling due within one year
(183,365)
(80,912)
Net current assets
79,727
33,379
Total assets less current liabilities
230,257
207,565
Creditors: amounts falling due after more than one year
(23,328)
(33,328)
Net assets
206,929
174,237
Called up share capital
2
2
Profit and loss account
206,927
174,235
Shareholders' funds
206,929
174,237
For the year ending 29 February 2024 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 November 2024 and were signed on its behalf by
Mr Sivasubramaniam Surenkumar
Director
Company Registration No. 05303545
Logini Finance Limited
Notes to the Accounts
for the year ended 29 February 2024
Logini Finance Limited is a private company, limited by shares, registered in England and Wales, registration number 05303545. The registered office is 77 Herent Drive , Ilford, IG5 0HF, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Logini Finance Limited
Notes to the Accounts
for the year ended 29 February 2024
4
Intangible fixed assets
Goodwill
At 29 February 2024
97,000
Charge for the year
19,400
At 29 February 2024
19,400
At 29 February 2024
77,600
At 28 February 2023
97,000
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
89,020
106,577
93,845
289,442
At 29 February 2024
89,020
106,577
93,845
289,442
At 1 March 2023
54,397
86,064
71,795
212,256
Charge for the year
-
2,051
2,205
4,256
At 29 February 2024
54,397
88,115
74,000
216,512
At 29 February 2024
34,623
18,462
19,845
72,930
At 28 February 2023
34,623
20,513
22,050
77,186
Amounts falling due within one year
Accrued income and prepayments
4,323
1,711
Other debtors
238,715
85,000
Logini Finance Limited
Notes to the Accounts
for the year ended 29 February 2024
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
13,111
8,343
Taxes and social security
9,929
14,833
Other creditors
7,973
27,058
Loans from directors
115,955
15,296
8
Creditors: amounts falling due after more than one year
2024
2023
9
Average number of employees
During the year the average number of employees was 9 (2023: 12).