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Registration number: 04113047

Logic Controls Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2015
 

McIntosh Accountants Ltd
Chartered Accountants
20 Burns Street
Ilkeston
Derbyshire
DE7 8AA

 

Logic Controls Limited
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3 to 4

 

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Logic Controls Limited
for the Year Ended 30 November 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Logic Controls Limited for the year ended 30 November 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Logic Controls Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Logic Controls Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Logic Controls Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Logic Controls Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Logic Controls Limited. You consider that Logic Controls Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Logic Controls Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

McIntosh Accountants Ltd
Chartered Accountants
20 Burns Street
Ilkeston
Derbyshire
DE7 8AA

1 July 2016

 

Logic Controls Limited
(Registration number: 04113047)
Abbreviated Balance Sheet at 30 November 2015

   

Note

   

2015
£

   

2014
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

905

   

145

 

Current assets

 

             

Stocks

 

   

16,695

   

-

 

Debtors

 

   

15,488

   

1,964

 

Cash at bank and in hand

 

   

105,241

   

118,408

 
   

   

137,424

   

120,372

 

Creditors: Amounts falling due within one year

 

   

(22,388)

   

(3,508)

 

Net current assets

 

   

115,036

   

116,864

 

Net assets

 

   

115,941

   

117,009

 

Capital and reserves

 

             

Called up share capital

 

3

   

1,000

   

1,000

 

Capital redemption reserve

 

   

(162,474)

   

(162,474)

 

Profit and loss account

 

   

277,415

   

278,483

 

Shareholders' funds

 

   

115,941

   

117,009

 

For the year ending 30 November 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 1 July 2016

.........................................
Mr S Skinner
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

 

Logic Controls Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Computer equipment

33% on cost

Fixtures and fittings

15% on cost

Plant and machinery

15% on cost

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

 

Logic Controls Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 December 2014

 

20,919

   

20,919

 

Additions

 

1,215

   

1,215

 

At 30 November 2015

 

22,134

   

22,134

 

Depreciation

           

At 1 December 2014

 

20,774

   

20,774

 

Charge for the year

 

455

   

455

 

At 30 November 2015

 

21,229

   

21,229

 

Net book value

           

At 30 November 2015

 

905

   

905

 

At 30 November 2014

 

145

   

145

 

3

Share capital

Allotted, called up and fully paid shares

 

2015

2014

   

No.

   

£

   

No.

   

£

 

Ordinary of £1 each

 

1,000

   

1,000

   

1,000

   

1,000