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Registration number: 04113047

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

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 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

 

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.

 

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