Registration number: 12277710

Logic-i Limited

Contents

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

Logic-i Limited

Company Information

Directors

Mike Priestley Stephen Priestley Jason Nowell Steve Humble

Registered office

141 High Street Yarm TS15 9AY

Accountants

Barkess & Co Stockton Business Centre 70-74 Brunswick Street Stockton on Tees TS18 1DW

Logic-i Limited

(Registration number: 12277710)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	258,908	318,438
Current assets
Debtors	5	2,045,015	955,605
Cash at bank and in hand		21,554	210,916
		2,066,569	1,166,521
Creditors: Amounts falling due within one year	6	(1,688,108)	(1,162,935)
Net current assets		378,461	3,586
Total assets less current liabilities		637,369	322,024
Creditors: Amounts falling due after more than one year	6	(172,902)	(205,286)
Provisions for liabilities		(64,727)	(79,610)
Net assets		399,740	37,128
Capital and reserves
Called up share capital	7	8	8
Retained earnings		399,732	37,120
Shareholders' funds		399,740	37,128

For the financial year ending 31 October 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 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.

Approved and authorised by the Board on 29 July 2026 and signed on its behalf by:
 

......................................... Stephen Priestley Director

Logic-i Limited

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

1	General information

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

The address of its registered office is:
141 High Street
Yarm
TS15 9AY
England

These financial statements were authorised for issue by the Board on 29 July 2026.

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.

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.

Logic-i Limited

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

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
Motor Vehicles	5 year straight line
Furniture, fittings & equipment	3 year 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.

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.

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

Logic-i Limited

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

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 19 (2024 - 23).

Logic-i Limited

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

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 November 2024	94,892	375,556	470,448
Additions	26,251	-	26,251
At 31 October 2025	121,143	375,556	496,699
Depreciation
At 1 November 2024	55,528	96,482	152,010
Charge for the year	29,967	55,814	85,781
At 31 October 2025	85,495	152,296	237,791
Carrying amount
At 31 October 2025	35,648	223,260	258,908
At 31 October 2024	39,364	279,074	318,438

5

Debtors

Current	Note	2025 £	2024 £
Trade debtors		730,715	715,980
Amounts owed by related parties	10	648,233	-
Prepayments		20,508	46,290
Other debtors		645,559	193,335
		2,045,015	955,605

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	585,972	573,409
Trade creditors		263,022	117,433
Taxation and social security		643,848	430,261
Accruals and deferred income		128,659	1,585
Other creditors		66,607	40,247
		1,688,108	1,162,935

Logic-i Limited

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

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	5,841	10,000
Other borrowings	580,131	563,409
	585,972	573,409

Creditors include [enter details] of £xx (2024 - £xx).

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	172,902	205,286

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary share of £1 each	2	2	2	2

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	5,852
Other borrowings	172,902	199,434
	172,902	205,286

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	5,841	10,000
Other borrowings	580,131	563,409
	585,972	573,409

Bank borrowings

Logic-i Limited

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

Starling Bank Bounce Back Loan is denominated in GB pounds sterling with a nominal interest rate of 2.5%, and the final instalment is due on 13 May 2026. The carrying amount at year end is £5,841 (2024 - £15,852).

Other borrowings

An invoice factoring loan agreement with Close Brothers is denominated in GB poundts sterling with a nominal interest rate of circa 6.5%. The carrying amount at year end is £535,876 (2024 - £501,432). The invoice factoring loan advance, together with any future advances from Close Brothers under this agreement are secured by a floating charge which covers all of the property and undertaking of the company.

The carrying amount of finance lease and hire purchase obligations at year end is £217,157 (2024 - £261,411). The finance lease and hire purchase obligations relate to the acquisition and/or the right of use of motor cars that have been recorded as assets on the company's balance sheet. Hire purchase agreements are secured by a fixed charge on the subject vehicle. The title (ownership) of the subject vehicle under right of use (ROU) lease agreements is retained by the lessor

9

Dividends

		2025		2024
		£		£
Interim dividend of £17,000.00 (2024 - £58,750.00) per ordinary share		136,000		470,000

10	Related party transactions

Transactions with directors

2025	At 1 November 2024 £	Advances to director £	Repayments by director £	At 31 October 2025 £
Jason Nowell
Director's Loan Account	80,454	-	(6,213)	74,241
Steve Humble
Director's Loan Account	38,040	-	(11,300)	26,740
Stephen Priestley
Director's Loan Account	57,327	-	(35,000)	22,327
Mike Priestley
Director's Loan Account	17,344	13,698	(17,344)	13,698

Logic-i Limited

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

2024	At 1 November 2023 £	Advances to director £	Repayments by director £	At 31 October 2024 £
Jason Nowell
Director's Loan Account	56,993	23,461	-	80,454
Steve Humble
Director's Loan Account	56,152	-	(18,112)	38,040
Stephen Priestley
Director's Loan Account	65,895	-	(8,568)	57,327
Mike Priestley
Director's Loan Account	-	17,344	-	17,344

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	50,280	38,758
Contributions paid to money purchase schemes	35,500	40,500
	85,780	79,258

Summary of transactions with associates

The company is a subsidiary of its parent, The logic-i Group Limited and has transacted with two other subsidiaries of the parent company.
 

Summary of transactions with associates

Recruit-i Limited Recruit-i Limited provides specialised recruitment services for the company Current account. Interest free. Repayable on demand.

Complete-i Limited Complete-i Limited provides speceialised completion and finishing services. Current account. Interest free. Repayable on demand.

Income and receivables from related parties

2025	Associates £
Receipt of services	26,464

Logic-i Limited

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

2024

Expenditure with and payables to related parties

2025	Associates £
Rendering of services	95,533

2024

Loans to related parties

2025	Parent £	Associates £	Total £
Advanced	466,177	116,861	583,038
At end of period	466,177	116,861	583,038

Terms of loans to related parties

Current account. Interest free. repayment on demand.
 

Loans from related parties

2025	Associates £	Total £
Advanced	20,265	20,265
At end of period	20,265	20,265

Terms of loans from related parties

Current account. Interest free. Repayment on demand.