Registered number
10505862
Logobear Limited
Unaudited Filleted Accounts For The Year Ended
31 December 2024
Logobear Limited
Registered number: 10505862
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,000 3,000
Tangible assets 4 17,282 24,415
19,282 27,415
Current assets
Stocks 14,074 14,674
Debtors 5 2,812 5,567
Cash at bank and in hand 17,206 20,923
34,092 41,164
Creditors: amounts falling due within one year 6 (75,321) (84,932)
Net current liabilities (41,229) (43,768)
Total assets less current liabilities (21,947) (16,353)
Creditors: amounts falling due after more than one year 7 (3,854) (11,483)
Net liabilities (25,801) (27,836)
Capital and reserves
Called up share capital 100 100
Profit and loss account (25,901) (27,936)
Shareholders' funds (25,801) (27,836)
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.
G Pearce
Director
Approved by the board on 30 March 2025
Logobear Limited
Notes to the Accounts
for the year ended 31 December 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery between 5 and 10 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. 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.
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 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 10,000
At 31 December 2024 10,000
Amortisation
At 1 January 2024 7,000
Provided during the year 1,000
At 31 December 2024 8,000
Net book value
At 31 December 2024 2,000
At 31 December 2023 3,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Total
£ £
Cost
At 1 January 2024 105,677 105,677
Additions 570 570
At 31 December 2024 106,247 106,247
Depreciation
At 1 January 2024 81,262 81,262
Charge for the year 7,703 7,703
At 31 December 2024 88,965 88,965
Net book value
At 31 December 2024 17,282 17,282
At 31 December 2023 24,415 24,415
5 Debtors 2024 2023
£ £
Trade debtors 264 -
Other debtors 2,548 5,567
2,812 5,567
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,628 7,469
Trade creditors 5,475 14,032
Taxation and social security costs 7,536 2,303
Other creditors 54,682 61,128
75,321 84,932
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,854 11,483
3,854 11,483
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
P P Rigby
Loan (59,702) - 6,000 (53,702)
(59,702) - 6,000 (53,702)
9 Other information
Logobear Limited is a private company limited by shares and incorporated in England. Its registered office is:
74 Clayton Street
Newcastle Upon Tyne
NE1 5PG
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