Logic North West Limited - Period Ending 2025-03-31

Registration number: 07859721

Logic North West Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

Pages for filing with Registrar

Logic North West Limited

Contents

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

Logic North West Limited

Company Information

Directors

Mrs. S J Cherry

Mr A R Cherry

Registered office

Hawburn
7 Claremont Avenue
Clitheroe
Lancs
BB7 1JN

Logic North West Limited

(Registration number: 07859721)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	29,314	34,386
Current assets
Stocks		1,000	-
Debtors	5	11,438	20,516
Cash at bank and in hand		34,339	33,253
		46,777	53,769
Creditors: Amounts falling due within one year	6	(11,040)	(11,392)
Net current assets		35,737	42,377
Total assets less current liabilities		65,051	76,763
Provisions for liabilities		(5,570)	(6,068)
Net assets		59,481	70,695
Capital and reserves
Called up share capital		2	2
Retained earnings		59,479	70,693
Shareholders' funds		59,481	70,695

Logic North West Limited

(Registration number: 07859721)
Balance Sheet as at 31 March 2025 (continued)

For the financial year ending 31 March 2025 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 and 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.

Approved and authorised by the Board on 19 September 2025 and signed on its behalf by:

.........................................
Mr A R Cherry
Director

Logic North West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:
Hawburn
7 Claremont Avenue
Clitheroe
Lancs
BB7 1JN

These financial statements were authorised for issue by the Board on 19 September 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.

The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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.

Logic North West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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
Plant and machinery	15% Straight line
Computer equipment	33% Straight line
Motor vehicles	25% Reducing balance

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.

Logic North West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Logic North West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Financial instruments

Classification
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company’s statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and liability simultaneously.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Logic North West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4	Tangible assets

Computer equipment
£

Motor vehicles
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2024

3,327

34,061

4,779

42,167

Additions

1,820

-

2,322

4,142

At 31 March 2025

5,147

34,061

7,101

46,309

Depreciation

At 1 April 2024

2,558

1,562

3,661

7,781

Charge for the year

432

8,126

656

9,214

At 31 March 2025

2,990

9,688

4,317

16,995

Carrying amount

At 31 March 2025

2,157

24,373

2,784

29,314

At 31 March 2024

769

32,499

1,118

34,386

Logic North West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

Debtors

Current	2025 £	2024 £
Trade debtors	9,694	15,593
Prepayments	989	4,281
Other debtors	755	642
	11,438	20,516

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £

Trade creditors	797	371
Taxation and social security	10,243	11,021
	11,040	11,392

7	Related party transactions

Logic North West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

7	Related party transactions (continued)

Loans from related parties

2025	Key management £	Total £
At start of period	61	61
Advanced	40,000	40,000
Repaid	(40,043)	(40,043)
At end of period	18	18

2024	Key management £	Total £
Advanced	45,150	45,150
Repaid	(45,089)	(45,089)
At end of period	61	61

Terms of loans from related parties

No interest has been charged on the overdrawn balance as it never surpassed the £10,000 threshold.

	Computer equipment £	Motor vehicles £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2024	3,327	34,061	4,779	42,167
Additions	1,820	-	2,322	4,142
At 31 March 2025	5,147	34,061	7,101	46,309
Depreciation
At 1 April 2024	2,558	1,562	3,661	7,781
Charge for the year	432	8,126	656	9,214
At 31 March 2025	2,990	9,688	4,317	16,995
Carrying amount
At 31 March 2025	2,157	24,373	2,784	29,314
At 31 March 2024	769	32,499	1,118	34,386