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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
Page
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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
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Logini Finance Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
77,600 
97,000 
Tangible assets
72,930 
77,186 
150,530 
174,186 
Current assets
Inventories
6,274 
5,925 
Debtors
243,984 
94,608 
Cash at bank and in hand
12,834 
13,758 
263,092 
114,291 
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 
Capital and reserves
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
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Logini Finance Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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:
Plant & machinery
10%
Fixtures & fittings
10%
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
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.
Financial instruments
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.
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Logini Finance Limited Notes to the Accounts for the year ended 29 February 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2023
97,000 
At 29 February 2024
97,000 
Amortisation
At 1 March 2023
- 
Charge for the year
19,400 
At 29 February 2024
19,400 
Net book value
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 
Depreciation
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 
Net book value
At 29 February 2024
34,623 
18,462 
19,845 
72,930 
At 28 February 2023
34,623 
20,513 
22,050 
77,186 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
946 
7,897 
Accrued income and prepayments
4,323 
1,711 
Other debtors
238,715 
85,000 
243,984 
94,608 
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Logini Finance Limited Notes to the Accounts for the year ended 29 February 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
8,884 
6,348 
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 
Accruals
27,513 
9,034 
183,365 
80,912 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
23,328 
33,328 
9
Average number of employees
During the year the average number of employees was 9 (2023: 12).
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