Logovisual Limited Filleted accounts for Companies House (small and micro)
Logovisual Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
03920053
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Statement of Financial Position |
2021 |
2020 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
6 |
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Investments |
7 |
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--------- |
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Current assets
Stocks |
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Debtors |
8 |
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Cash at bank and in hand |
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--------- |
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Prepayments and accrued income |
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Creditors: amounts falling due within one year |
9 |
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Net current assets |
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Total assets less current liabilities |
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Provisions
Taxation including deferred tax |
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Accruals and deferred income |
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Net assets |
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Statement of Financial Position (continued) |
2021 |
2020 |
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Note |
£ |
£ |
£ |
Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
Director's 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
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
22 December 2021
, and are signed on behalf of the board by:
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Director |
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Company registration number:
03920053
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Notes to the Financial Statements |
Year ended 31 March 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 Unit 5b Millenium Road, Airedale Business Centre, Skipton, North Yorkshire, BD23 2TZ.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
Foreign currencies
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
- |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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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Leasehold Equipment |
- |
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Motor vehicles |
- |
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Furniture and office equipment |
- |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
Stocks
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
11
(2020:
10
).
5.
Intangible assets
Goodwill |
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£ |
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Cost |
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At 1 April 2020 and 31 March 2021 |
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Amortisation |
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At 1 April 2020 and 31 March 2021 |
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Carrying amount |
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At 31 March 2021 |
– |
-------- |
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At 31 March 2020 |
– |
-------- |
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6.
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 April 2020 |
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Additions |
– |
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– |
– |
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At 31 March 2021 |
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Depreciation |
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At 1 April 2020 |
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Charge for the year |
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At 31 March 2021 |
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Carrying amount |
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At 31 March 2021 |
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At 31 March 2020 |
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7.
Investments
Other investments other than loans |
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£ |
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Cost |
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At 1 April 2020 |
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Additions |
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Other movements |
(
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At 31 March 2021 |
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Impairment |
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At 1 April 2020 and 31 March 2021 |
– |
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Carrying amount |
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At 31 March 2021 |
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At 31 March 2020 |
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8.
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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9.
Creditors:
amounts falling due within one year
2021 |
2020 |
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£ |
£ |
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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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10.
Director's advances, credits and guarantees
At the Year End the company owed the director
£4,076
(2020 - £ 270
),this amount is interest free and repayable on demand.
11.
Related party transactions
The company was under the control of Mr Daniel Varney throughout the current and previous year. Mr Daniel Varney is the managing director and majority shareholder. During the year the company transferred £12,000 (2020 - £192,000)to Craven Lighthouse LLP. The amount due to the company by Craven Lighthouse LLP at the year end was £374,557 (2020 - £366,392). Craven Lighthouse LLP is a Limited Liability Partnership where D Varney and the company are designated members.