Logic Fire and Security Limited Filleted accounts for Companies House (small and micro)
Logic Fire and Security Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
05008876
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Statement of Financial Position |
2021 |
2020 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Stocks |
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Debtors |
6 |
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Cash at bank and in hand |
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------------ |
------------ |
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Creditors: amounts falling due within one year |
7 |
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------------ |
------------ |
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Net current assets |
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------------ |
--------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
8 |
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Provisions |
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------------ |
--------- |
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Net assets |
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------------ |
--------- |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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--------- |
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Shareholders funds |
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--------- |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
26 October 2021
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
05008876
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Notes to the Financial Statements |
Year ended 31 January 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 123 Monkswell House, Manse Lane, Knaresborough, North Yorkshire, HG5 8NQ.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Equipment |
- |
33% reducing balance |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Finance leases and hire purchase contracts
Government grants
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
33
(2020:
29
).
5.
Tangible assets
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 February 2020 |
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65,235 |
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Additions |
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9,517 |
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Disposals |
– |
– |
(
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– |
(
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-------- |
------- |
--------- |
-------- |
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At 31 January 2021 |
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74,752 |
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-------- |
------- |
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Depreciation |
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At 1 February 2020 |
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46,976 |
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Charge for the year |
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8,048 |
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Disposals |
– |
– |
(
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– |
(
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-------- |
------- |
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At 31 January 2021 |
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55,024 |
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-------- |
------- |
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-------- |
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Carrying amount |
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At 31 January 2021 |
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19,728 |
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-------- |
------- |
--------- |
-------- |
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At 31 January 2020 |
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18,259 |
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Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
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At 31 January 2021 |
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7,845 |
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------- |
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At 31 January 2020 |
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11,709 |
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6.
Debtors
2021 |
2020 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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------------ |
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7.
Creditors:
amounts falling due within one year
2021 |
2020 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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– |
Social security and other taxes |
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Other creditors |
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--------- |
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Creditors falling due within one year includes the following amounts on which security has been given by the company:
Hire purchase and finance lease obligations - £73,354 (2020 - £64,501)
Other creditors - £nil (2020 - £123,774)
8.
Creditors:
amounts falling due after more than one year
2021 |
2020 |
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£ |
£ |
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Bank loans and overdrafts |
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Other creditors |
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--------- |
--------- |
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Creditors falling due after one year includes the following amounts on which security has been given by the company:
Hire purchase and finance lease obligations - £82,332 (2020 - £116,814)
9.
Directors' advances, credits and guarantees
During the year the directors received advances of £152,414 and repaid £4,000 to the company.