Registered number
04054735
Cambridge Logic Limited
Filleted Accounts
30 September 2024
Cambridge Logic Limited
Registered number: 04054735
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 15,751 18,366
Investments 4 125,000 125,000
140,751 143,366
Current assets
Stocks 43,440 63,400
Debtors 5 85,666 198,997
Cash at bank and in hand 813,206 831,389
942,312 1,093,786
Creditors: amounts falling due within one year 6 (41,288) (129,574)
Net current assets 901,024 964,212
Total assets less current liabilities 1,041,775 1,107,578
Provisions for liabilities (3,938) (3,490)
Net assets 1,037,837 1,104,088
Capital and reserves
Called up share capital 600 600
Profit and loss account 1,037,237 1,103,488
Shareholders' funds 1,037,837 1,104,088
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.
Ian Talbot
Director
Approved by the board on 25 June 2025
Cambridge Logic Limited
Notes to the Accounts
for the year ended 30 September 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, 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, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
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 8 9
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 87,966 16,352 104,318
Additions 2,635 - 2,635
At 30 September 2024 90,601 16,352 106,953
Depreciation
At 1 October 2023 75,124 10,828 85,952
Charge for the year 3,869 1,381 5,250
At 30 September 2024 78,993 12,209 91,202
Net book value
At 30 September 2024 11,608 4,143 15,751
At 30 September 2023 12,842 5,524 18,366
4 Investments
Other
investments
£
Cost
At 1 October 2023 125,000
At 30 September 2024 125,000
5 Debtors 2024 2023
£ £
Trade debtors 29,785 121,574
Other debtors 55,881 77,423
85,666 198,997
Amounts due after more than one year included above 27,966 44,484
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 28,909 76,975
Taxation and social security costs 10,879 42,947
Other creditors 1,500 9,652
41,288 129,574
7 Controlling party
The company is controlled by A Adams, G Honigman and I Talbot who each own one third of the issued share capital.
8 Other information
Cambridge Logic Limited is a private company limited by shares and incorporated in England. Its registered office is:
St Johns Innovation Centre
Cowley Road
Cambridge
CB4 0WS
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