3 2 Logik 7 Consulting Limited 12904158 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is Management consulting specialising in business process and information technology outsource design and execution Digita Accounts Production Advanced 6.30.9574.0 true true false 12904158 2023-10-01 2024-09-30 12904158 2024-09-30 12904158 bus:OrdinaryShareClass1 2024-09-30 12904158 core:CurrentFinancialInstruments 2024-09-30 12904158 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 12904158 core:FurnitureFittingsToolsEquipment 2024-09-30 12904158 core:MotorVehicles 2024-09-30 12904158 core:OtherPropertyPlantEquipment 2024-09-30 12904158 bus:SmallEntities 2023-10-01 2024-09-30 12904158 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 12904158 bus:FilletedAccounts 2023-10-01 2024-09-30 12904158 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 12904158 bus:RegisteredOffice 2023-10-01 2024-09-30 12904158 bus:Director1 2023-10-01 2024-09-30 12904158 bus:Director2 2023-10-01 2024-09-30 12904158 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 12904158 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 12904158 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 12904158 core:MotorVehicles 2023-10-01 2024-09-30 12904158 core:OfficeEquipment 2023-10-01 2024-09-30 12904158 core:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 12904158 1 2023-10-01 2024-09-30 12904158 countries:UnitedKingdom 2023-10-01 2024-09-30 12904158 2023-09-30 12904158 core:FurnitureFittingsToolsEquipment 2023-09-30 12904158 core:MotorVehicles 2023-09-30 12904158 core:OtherPropertyPlantEquipment 2023-09-30 12904158 2022-10-01 2023-09-30 12904158 2023-09-30 12904158 bus:OrdinaryShareClass1 2023-09-30 12904158 core:CurrentFinancialInstruments 2023-09-30 12904158 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 12904158 core:FurnitureFittingsToolsEquipment 2023-09-30 12904158 core:MotorVehicles 2023-09-30 12904158 core:OtherPropertyPlantEquipment 2023-09-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 12904158

Logik 7 Consulting Limited

trading as Logik 7 Consulting Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Logik 7 Consulting Limited

trading as Logik 7 Consulting Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Logik 7 Consulting Limited

trading as Logik 7 Consulting Limited

Company Information

Directors

Jeremy Edwards

Mrs Catherine Ann Edwards

Registered office

Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW

 

Logik 7 Consulting Limited

trading as Logik 7 Consulting Limited

(Registration number: 12904158)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

29,159

38,799

Current assets

 

Debtors

5

729

12,414

Cash at bank and in hand

 

3,468

48,585

 

4,197

60,999

Creditors: Amounts falling due within one year

6

(1,787)

(16,509)

Net current assets

 

2,410

44,490

Total assets less current liabilities

 

31,569

83,289

Provisions for liabilities

(5,539)

(7,371)

Net assets

 

26,030

75,918

Capital and reserves

 

Called up share capital

100

100

Retained earnings

25,930

75,818

Shareholders' funds

 

26,030

75,918

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 January 2025 and signed on its behalf by:
 

 

Logik 7 Consulting Limited

trading as Logik 7 Consulting Limited

(Registration number: 12904158)
Balance Sheet as at 30 September 2024

.........................................
Jeremy Edwards
Director

 

Logik 7 Consulting Limited

trading as Logik 7 Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW
England

These financial statements were authorised for issue by the Board on 29 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

 

Logik 7 Consulting Limited

trading as Logik 7 Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Going concern

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Logik 7 Consulting Limited

trading as Logik 7 Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Motor Vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

 

Logik 7 Consulting Limited

trading as Logik 7 Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

8,840

52,590

592

62,022

At 30 September 2024

8,840

52,590

592

62,022

Depreciation

At 1 October 2023

3,315

19,721

187

23,223

Charge for the year

1,322

8,217

101

9,640

At 30 September 2024

4,637

27,938

288

32,863

Carrying amount

At 30 September 2024

4,203

24,652

304

29,159

At 30 September 2023

5,525

32,869

405

38,799

5

Debtors

Current

2024
£

2023
£

Prepayments

729

722

Other debtors

-

11,692

 

729

12,414

6

Creditors

Creditors: amounts falling due within one year

 

Logik 7 Consulting Limited

trading as Logik 7 Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2024
£

2023
£

Due within one year

Trade creditors

-

475

Taxation and social security

557

15,007

Accruals and deferred income

1,230

1,025

Other creditors

-

2

1,787

16,509

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Share capital of £1 each

100

100

100

100

         

8

Dividends

2024

2023

£

£

Interim dividend of £442.40 (2023 - £760.00) per ordinary share

44,240

76,000

 

 

9

Related party transactions

At the balance sheet date the company owed £0 to (2023 £8,540 was owed by) Jeremy and Catherine Edwards, the directors of the company. The loans have been repaid within 9 months of the year end and no interest has been charged.

 

Logik 7 Consulting Limited

trading as Logik 7 Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

10

Parent and ultimate parent undertaking

The ultimate controlling party is Jeremy and Catherine by virtue of their shares.