Logic Controls Limited - Period Ending 2014-11-30

Logic Controls Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2014

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

Logic Controls Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

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 2014

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 2014 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 loss 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

2 March 2015

Page 1

Logic Controls Limited
(Registration number: 04113047)
Abbreviated Balance Sheet at 30 November 2014

	Note	2014 £	2013 £
Fixed assets
Tangible fixed assets		145	230
Current assets
Stocks		-	500
Debtors		1,964	65,070
Cash at bank and in hand		118,408	271,240
		120,372	336,810
Creditors: Amounts falling due within one year		(3,508)	(44,522)
Net current assets		116,864	292,288
Net assets		117,009	292,518
Capital and reserves
Called up share capital	3	1,000	2,000
Capital redemption reserve		(162,474)	-
Profit and loss account		278,483	290,518
Shareholders' funds		117,009	292,518

For the year ending 30 November 2014 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 2 March 2015

.........................................
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 2014
......... 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

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.

Page 3

Logic Controls Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2014
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 December 2013	20,919	20,919
At 30 November 2014	20,919	20,919
Depreciation
At 1 December 2013	20,689	20,689
Charge for the year	85	85
At 30 November 2014	20,774	20,774
Net book value
At 30 November 2014	145	145
At 30 November 2013	230	230

3	Share capital

Allotted, called up and fully paid shares

	2014			2013
		No.	£		No.	£
Ordinary of £1 each		1,000	1,000		2,000	2,000

Page 4