LOGIC WINDOW SYSTEMS LIMITED - Abbreviated accounts

LOGIC WINDOW SYSTEMS LTD - Company Information

Registered number

05990787

LOGIC WINDOW SYSTEMS LIMITED

Abbreviated Accounts

31 December 2014

LOGIC WINDOW SYSTEMS LIMITED
Registered number:		05990787
Abbreviated Balance Sheet
as at 31 December 2014

Notes			2014			2013
£				£
Fixed assets
Tangible assets	2		42,381			31,400

Current assets
Stocks		10,010			9,860
Debtors		86,769			108,578
Cash at bank and in hand		219,899			202,186
		316,678			320,624

Creditors: amounts falling due within one year		(90,461)			(105,396)

Net current assets			226,217			215,228

Total assets less current liabilities			268,598			246,628


Provisions for liabilities			(8,424)			(6,016)


Net assets			260,174			240,612

Capital and reserves
Called up share capital	3		2			2
Profit and loss account			260,172			240,610

Shareholders' funds			260,174			240,612

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



C Wadsworth
Director
Approved by the board on 3 March 2015

LOGIC WINDOW SYSTEMS LIMITED
Notes to the Abbreviated Accounts
for the year ended 31 December 2014

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			20% straight line
	Motor vehicles			25% straight line

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


2	Tangible fixed assets					£

	Cost
	At 1 January 2014					73,160
	Additions					20,848
	Disposals					(9,000)
	At 31 December 2014					85,008

	Depreciation
	At 1 January 2014					41,760
	Charge for the year					8,867
	On disposals					(8,000)
	At 31 December 2014					42,627

	Net book value
	At 31 December 2014					42,381
	At 31 December 2013					31,400


3	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		-		2		2