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REGISTERED NUMBER: 04408181 (England and Wales)















LOGIC ELECTRICAL INSTALLATIONS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024






LOGIC ELECTRICAL INSTALLATIONS LIMITED (REGISTERED NUMBER: 04408181)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOGIC ELECTRICAL INSTALLATIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTOR: K D Loydall





SECRETARY: S L Loydall





REGISTERED OFFICE: 2 Pinders Lane
Rugby
Warwickshire
CV21 2SS





REGISTERED NUMBER: 04408181 (England and Wales)





ACCOUNTANTS: Atkinson Finch & Co
Chartered Accountants
Central Chambers
45-47 Albert Street
Rugby
Warwickshire
CV21 2SG

LOGIC ELECTRICAL INSTALLATIONS LIMITED (REGISTERED NUMBER: 04408181)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 55,025 74,137

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 5 54,554 25,791
Cash at bank 67,393 92,766
126,947 123,557
CREDITORS
Amounts falling due within one year 6 47,505 24,151
NET CURRENT ASSETS 79,442 99,406
TOTAL ASSETS LESS CURRENT
LIABILITIES

134,467

173,543

CREDITORS
Amounts falling due after more than one
year

7

(4,658

)

(9,530

)

PROVISIONS FOR LIABILITIES (10,052 ) (13,657 )
NET ASSETS 119,757 150,356

CAPITAL AND RESERVES
Called up share capital 450 450
Capital redemption reserve 450 450
Retained earnings 118,857 149,456
SHAREHOLDERS' FUNDS 119,757 150,356

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LOGIC ELECTRICAL INSTALLATIONS LIMITED (REGISTERED NUMBER: 04408181)

BALANCE SHEET - continued
30TH JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12th March 2025 and were signed by:





K D Loydall - Director


LOGIC ELECTRICAL INSTALLATIONS LIMITED (REGISTERED NUMBER: 04408181)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024

1. STATUTORY INFORMATION

Logic Electrical Installations Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
There are no significant judgements that have a material effect on the accounts nor any accounting estimates that have a high risk of causing a material adjustment in a future accounting period.

Turnover
Turnover represents the value of goods and services provided excluding value added tax

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

LOGIC ELECTRICAL INSTALLATIONS LIMITED (REGISTERED NUMBER: 04408181)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1st July 2023 18,209 19,088 156,599 193,896
Additions - 92 - 92
Disposals - - (10,750 ) (10,750 )
At 30th June 2024 18,209 19,180 145,849 183,238
DEPRECIATION
At 1st July 2023 18,208 11,301 90,250 119,759
Charge for year - 1,182 16,109 17,291
Eliminated on disposal - - (8,837 ) (8,837 )
At 30th June 2024 18,208 12,483 97,522 128,213
NET BOOK VALUE
At 30th June 2024 1 6,697 48,327 55,025
At 30th June 2023 1 7,787 66,349 74,137

LOGIC ELECTRICAL INSTALLATIONS LIMITED (REGISTERED NUMBER: 04408181)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st July 2023
and 30th June 2024 21,705
DEPRECIATION
At 1st July 2023 9,496
Charge for year 3,052
At 30th June 2024 12,548
NET BOOK VALUE
At 30th June 2024 9,157
At 30th June 2023 12,209

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 54,074 24,975
Corporation tax repayable - 381
Prepayments 480 435
54,554 25,791

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 4,577 4,576
Trade creditors 19,203 6,337
Corporation tax payable 1,488 -
Social security and other taxes 8,794 8,242
Other creditors 1,613 -
Directors' current accounts 9,755 2,470
Accrued expenses 2,075 2,526
47,505 24,151

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 4,658 9,530