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Company registration number:
SC557696
Logic Landlord Assist Ltd
Unaudited Filleted Financial Statements for the year ended
28 February 2025
Logic Landlord Assist Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Logic Landlord Assist Ltd
Year ended
28 February 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
Logic Landlord Assist Ltd
for the year ended
28 February 2025
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/​accountspreparationguidance.
This report is made solely to the Board of Directors of
Logic Landlord Assist Ltd
, as a body, in accordance with the terms of our engagement letter dated 31 October 2021. Our work has been undertaken solely to prepare for your approval the
financial statements
of
Logic Landlord Assist Ltd
and state those matters that we have agreed to state to the Board of Directors of
Logic Landlord Assist Ltd
, as a body, in this report in accordance with the requirements of the ICAS as detailed at http://www.icas.com/​accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Logic Landlord Assist Ltd
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Logic Landlord Assist Ltd
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Logic Landlord Assist Ltd
. You consider that
Logic Landlord Assist Ltd
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Logic Landlord Assist Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Smartworks Chartered Accountants
9 Green Wood
KINROSS
KY13 8FG
United Kingdom
Date:
12 May 2025
Logic Landlord Assist Ltd
Statement of Financial Position
28 February 2025

|  | 2025 | 2024
--- | --- | --- | ---
| Note | £ | £
Fixed assets |  |  |  |  |
Investments | 5 | 82,000 |  | 82,000 |
Current assets |  |  |  |  |
Debtors | 6 | 950 |  | 950 |
Cash at bank and in hand |  | 463 |  | 440 |
|  | 1,413 |  | 1,390 |
Creditors: amounts falling due within one year | 7 | (22,898 | ) | (25,391 | )
Net current liabilities |  | (21,485 | ) | (24,001 | )
Total assets less current liabilities |  | 60,515 |  | 57,999 |
Creditors: amounts falling due after more than one year | 8 | (37,965 | ) | (38,464 | )
Provisions for liabilities |  | (2,676 | ) | (2,676 | )
Net assets |  | 19,874 |  | 16,859 |
Capital and reserves |  |  |  |  |
Called up share capital |  | 1 |  | 1 |
Revaluation reserve |  | 14,083 |  | 14,083 |
Profit and loss account |  | 5,790 |  | 2,775 |
Shareholders funds |  | 19,874 |  | 16,859 |

For the year ending
28 February 2025
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
12 May 2025
, and are signed on behalf of the board by:

Mr M Hunter
Director

Company registration number:
SC557696
Logic Landlord Assist Ltd
Notes to the Financial Statements
Year ended
28 February 2025

## 1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
19 Carlyle Terrace
,
Bathgate
,
EH48 1BX
, Scotland.

## 2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

## 3 Accounting policies

## Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

## Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

## Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

## Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

## Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

## Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

## Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

## 4 Average number of employees

The average number of persons employed by the company during the year was Nil (2024: Nil).

## 5 Investments

| Other investments other than loans
--- | ---
| £
Cost |  |
At 1 March 2024 | 82,000 |
At 28 February 2025 | 82,000 |
Impairment |  |
At 1 March 2024 and 28 February 2025 | - |
Carrying amount |  |
At 28 February 2025 | 82,000 |
At 29 February 2024 | 82,000 |

The investment property is held at it's fair value. The historic cost is £67,917

## 6 Debtors

| 2025 | 2024
--- | --- | ---
| £ | £
Other debtors | 950 |  | 950 |

## 7 Creditors: amounts falling due within one year

| 2025 | 2024
--- | --- | ---
| £ | £
Bank loans and overdrafts | 1,090 |  | 1,681 |
Taxation and social security | 877 |  | 513 |
Other creditors | 20,931 |  | 23,197 |
| 22,898 |  | 25,391 |

## 8 Creditors: amounts falling due after more than one year

| 2025 | 2024
--- | --- | ---
| £ | £
Bank loans and overdrafts | 37,965 |  | 38,464 |

The loan is a mortgage and is secured by a charge over the property owned by the company.

## 9 Director's advances, credit and guarantees

At the year end, the company owed the director £19,481 (2024: £21,746). The loan was interest free, unsecured and with no fixed terms for repayment. During the year dividends of £725 (2024: £1,000) were paid to the director.

## 10 Controlling party

The company is controlled by the director Mr Mark Hunter