2024-01-012024-12-312024-12-31false07844821INDUSTRIAL LOGIC EUROPE 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INDUSTRIAL LOGIC EUROPE LTD

Registered Number
07844821
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

INDUSTRIAL LOGIC EUROPE LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

BROWNE, Sandra Sampson
KERIEVSKY, Joshua Lowell

Company Secretary

BEARE, Paul David

Registered Address

49 Greek Street
London
W1D 4EG

Registered Number

07844821 (England and Wales)
INDUSTRIAL LOGIC EUROPE LTD
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors316,195176,976
Cash at bank and on hand18,13932,053
334,334209,029
Creditors amounts falling due within one year3(351,205)(230,540)
Net current assets (liabilities)(16,871)(21,511)
Total assets less current liabilities(16,871)(21,511)
Net assets(16,871)(21,511)
Capital and reserves
Called up share capital100100
Profit and loss account(16,971)(21,611)
Shareholders' funds(16,871)(21,511)
The financial statements were approved and authorised for issue by the Board of Directors on 26 June 2025, and are signed on its behalf by:
BROWNE, Sandra Sampson
Director
Registered Company No. 07844821
INDUSTRIAL LOGIC EUROPE LTD
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
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.
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year11
3.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables54,68874,314
Taxation and social security296,517146,636
Other creditors-9,590
Total351,205230,540
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.
4.Pension commitments
The company operates a defined contribution pension scheme for the directors and senior employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £960 (2023 £1,000) were due to the fund. They are included in other creditors.