Registered number
09176086
INSTALLOG LIMITED
Filleted Accounts
31 August 2024
INSTALLOG LIMITED
Registered number: 09176086
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,411 2,572
Tangible assets 4 9,201 12,268
11,612 14,840
Current assets
Debtors 5 64,723 790
Cash at bank and in hand 25,956 41,090
90,679 41,880
Creditors: amounts falling due within one year 6 (386,900) (386,617)
Net current liabilities (296,221) (344,737)
Net liabilities (284,609) (329,897)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (285,609) (330,897)
Shareholder's funds (284,609) (329,897)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Ilya Davidovich
Director
Approved by the board on 16 May 2025
INSTALLOG LIMITED
Notes to the Accounts
for the year ended 31 August 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.
The estimated useful lives range as follows:
Development expenditure - 20 years
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life.
Depreciation is provided on the following basis:
Fixtures and fittings 10% straight line
Computer equipment 25% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
The Company's functional and presentational currency is GBP.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 3,216
At 31 August 2024 3,216
Amortisation
At 1 September 2023 644
Provided during the year 161
At 31 August 2024 805
Net book value
At 31 August 2024 2,411
At 31 August 2023 2,572
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 33,444
At 31 August 2024 33,444
Depreciation
At 1 September 2023 21,176
Charge for the year 3,067
At 31 August 2024 24,243
Net book value
At 31 August 2024 9,201
At 31 August 2023 12,268
5 Debtors 2024 2023
£ £
Trade debtors 64,723 1,793
Other debtors - (1,003)
64,723 790
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 40 40
Taxation and social security costs 1,088 1,163
Other creditors 385,772 385,414
386,900 386,617
7 Other information
INSTALLOG LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 13, Roding House
2 Cambridge Road
Barking
London
IG11 8NL
INSTALLOG LIMITED 09176086 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts July 2024 Ilya Davidovich No description of principal activity 09176086 2022-09-01 2023-08-31 09176086 core:WithinOneYear 2023-08-31 09176086 core:ShareCapital 2023-08-31 09176086 core:RetainedEarningsAccumulatedLosses 2023-08-31 09176086 2023-09-01 2024-08-31 09176086 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09176086 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 09176086 bus:Director40 2023-09-01 2024-08-31 09176086 1 2023-09-01 2024-08-31 09176086 2 2023-09-01 2024-08-31 09176086 core:Goodwill 2023-09-01 2024-08-31 09176086 core:PlantMachinery 2023-09-01 2024-08-31 09176086 countries:England 2023-09-01 2024-08-31 09176086 bus:FRS102 2023-09-01 2024-08-31 09176086 bus:FilletedAccounts 2023-09-01 2024-08-31 09176086 2024-08-31 09176086 core:WithinOneYear 2024-08-31 09176086 core:ShareCapital 2024-08-31 09176086 core:RetainedEarningsAccumulatedLosses 2024-08-31 09176086 core:Goodwill 2024-08-31 09176086 core:PlantMachinery 2024-08-31 09176086 2023-08-31 09176086 core:Goodwill 2023-08-31 09176086 core:PlantMachinery 2023-08-31 iso4217:GBP xbrli:pure