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Registered number: NI642040
Logic Entertainment Limited
Unaudited Financial Statements
For The Year Ended 30 November 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: NI642040
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,859 -
Tangible Assets 5 596,324 697,153
598,183 697,153
CURRENT ASSETS
Debtors 6 570,114 293,628
Cash at bank and in hand 1,041,068 986,026
1,611,182 1,279,654
Creditors: Amounts Falling Due Within One Year 7 (442,878 ) (448,205 )
NET CURRENT ASSETS (LIABILITIES) 1,168,304 831,449
TOTAL ASSETS LESS CURRENT LIABILITIES 1,766,487 1,528,602
Creditors: Amounts Falling Due After More Than One Year 8 - (7,009 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (118,176 ) (139,444 )
NET ASSETS 1,648,311 1,382,149
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 1,648,211 1,382,049
SHAREHOLDERS' FUNDS 1,648,311 1,382,149
Page 1
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For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ryan Lyttle
Director
28/08/2026
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Logic Entertainment Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI642040 . The registered office is Unit 3 , 17 Balmoral Road, Belfast, Northern Ireland, BT12 6QA.
 The presentation currency is £ Sterling.The level of rounding is to the nearest £.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% Straight Line
Motor Vehicles 20% Straight Line
Fixtures & Fittings 10% Straight Line
Office Equipment 20% Straight Line
2.5. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. 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.
2.8. 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.
2.9. Leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2024: 28)
28 28
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4. Intangible Assets
Website
£
Cost
As at 1 December 2024 -
Additions 3,432
As at 30 November 2025 3,432
Amortisation
As at 1 December 2024 -
Provided during the period 1,573
As at 30 November 2025 1,573
Net Book Value
As at 30 November 2025 1,859
As at 1 December 2024 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Office Equipment Total
£ £ £ £ £
Cost
As at 1 December 2024 216,505 56,890 693,261 30,585 997,241
Additions - - 27,512 - 27,512
Disposals - (56,890 ) - - (56,890 )
As at 30 November 2025 216,505 - 720,773 30,585 967,863
Depreciation
As at 1 December 2024 38,096 25,601 224,590 11,801 300,088
Provided during the period 21,595 8,533 70,562 4,895 105,585
Disposals - (34,134 ) - - (34,134 )
As at 30 November 2025 59,691 - 295,152 16,696 371,539
Net Book Value
As at 30 November 2025 156,814 - 425,621 13,889 596,324
As at 1 December 2024 178,409 31,289 468,671 18,784 697,153
6. Debtors
2025 2024
£ £
Due within one year
Prepayments and accrued income 7,500 7,600
Other debtors 562,614 286,028
570,114 293,628
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 30,811 42,560
Bank loans and overdrafts 7,033 10,333
Corporation tax 180,430 187,405
Other taxes and social security 71,346 65,150
Other creditors 1,028 696
Accruals and deferred income 152,230 142,061
442,878 448,205
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans - 7,009
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2024 Amounts advanced Amounts repaid Amounts written off As at 30 November 2025
£ £ £ £ £
Mr Ryan Lyttle (23,572 ) (399,042 ) 165,875 - (256,739 )
During the year, interest of 3.75% was charged on the overdrawn director’s loan balance.
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