Registration number: 07408403

Legology Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Legology Limited

Company Information

Directors

Mr Matthew Idiens Ms Kate Annabel Shapland

Registered office

Lindenmuth House 37 Greenham Business Park Greenham Thatcham Berkshire RG19 6HW

Accountants

Opus Accounting Limited Chartered Certified Accountants Lindenmuth House 37 Greenham Business Park Greenham Thatcham Berkshire RG19 6HW

Legology Limited

(Registration number: 07408403)
Balance Sheet as at 31 December 2024

	Note	2024 £	(As restated) 2023 £
Fixed assets
Intangible assets	4	31,585	37,863
Tangible assets	5	2,696	2,904
		34,281	40,767
Current assets
Stocks	6	225,044	303,345
Debtors	7	30,416	38,719
Cash at bank and in hand		195,001	108,336
		450,461	450,400
Creditors: Amounts falling due within one year	8	(418,636)	(128,079)
Net current assets		31,825	322,321
Total assets less current liabilities		66,106	363,088
Creditors: Amounts falling due after more than one year	8	(62,108)	(116,937)
Net assets		3,998	246,151
Capital and reserves
Called up share capital	9	221	221
Share premium reserve		1,655,239	1,655,239
Retained earnings		(1,651,462)	(1,409,309)
Shareholders' funds		3,998	246,151

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Legology Limited

(Registration number: 07408403)
Balance Sheet as at 31 December 2024 (continued)

Approved and authorised by the Board on 29 July 2025 and signed on its behalf by:
 

......................................... Mr Matthew Idiens Director

......................................... Ms Kate Annabel Shapland Director

Legology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lindenmuth House
37 Greenham Business Park
Greenham
Thatcham
Berkshire
RG19 6HW
England

These financial statements were authorised for issue by the Board on 29 July 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Legology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office Equipment	25% Reducing Balance
Computer Equipment	25% Reducing Balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Trademarks, patents and licenses	10% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Legology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Legology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4	Intangible assets

	Trademarks, patents and licenses  £	Other intangible assets  £	Total £
Cost or valuation
At 1 January 2024	30,222	50,000	80,222
Additions acquired separately	1,938	-	1,938
At 31 December 2024	32,160	50,000	82,160
Amortisation
At 1 January 2024	5,692	36,667	42,359
Amortisation charge	3,216	5,000	8,216
At 31 December 2024	8,908	41,667	50,575
Carrying amount
At 31 December 2024	23,252	8,333	31,585
At 31 December 2023	24,530	13,333	37,863

Legology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	9,410	9,410
Additions	691	691
At 31 December 2024	10,101	10,101
Depreciation
At 1 January 2024	6,506	6,506
Charge for the year	899	899
At 31 December 2024	7,405	7,405
Carrying amount
At 31 December 2024	2,696	2,696
At 31 December 2023	2,904	2,904

6

Stocks

	2024 £	(As restated) 2023 £
Work in progress	80,110	111,490
Other inventories	144,934	191,855
	225,044	303,345

7

Debtors

Current	2024 £	(As restated) 2023 £
Trade debtors	15,355	7,427
Prepayments	809	1,914
Other debtors	14,252	29,378
	30,416	38,719

Legology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	(As restated) 2023 £
Due within one year
Loans and borrowings	10	112,844	58,348
Trade creditors		101,025	52,235
Taxation and social security		46,496	11,756
Accruals and deferred income		20,946	4,179
Other creditors		137,325	1,561
		418,636	128,079

Creditors: amounts falling due after more than one year

	Note	2024 £	(As restated) 2023 £
Due after one year
Loans and borrowings	10	62,108	116,937

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £0.00 each	2,209,316	221	2,209,316	221

10	Loans and borrowings

Non-current loans and borrowings

	2024 £	(As restated) 2023 £
Bank borrowings	5,858	15,687
Other borrowings	56,250	101,250
	62,108	116,937

Legology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	9,836	9,598
Other borrowings	103,008	48,750
	112,844	58,348

11	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2024 £	(As restated) 2023 £
Remuneration	142,000	142,000
Contributions paid to money purchase schemes	2,642	2,642
	144,642	144,642