Company Registration No. SC306680 (Scotland)
Logo Lounge Ltd
Unaudited accounts
for the year ended 30 December 2021
Logo Lounge Ltd
Unaudited accounts
Contents
Logo Lounge Ltd
Company Information
for the year ended 30 December 2021
Company Number
SC306680 (Scotland)
Registered Office
The Skyhouse
Leachkin Brae
Inverness
IV3 8PN
GB
Accountants
Terri Whitelaw
11 View Road
View Road
Nairn
IV12 5AH
Logo Lounge Ltd
Statement of financial position
as at 30 December 2021
Tangible assets
1,042
4,358
Cash at bank and in hand
34,466
19,610
Creditors: amounts falling due within one year
(13,562)
(7,647)
Net current assets
25,193
12,111
Total assets less current liabilities
26,235
16,469
Creditors: amounts falling due after more than one year
(14,900)
(3,167)
Called up share capital
100
100
Profit and loss account
11,235
13,202
Shareholders' funds
11,335
13,302
For the year ending 30 December 2021 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 January 2023 and were signed on its behalf by
Amanda Ross
Director
Company Registration No. SC306680
Logo Lounge Ltd
Notes to the Accounts
for the year ended 30 December 2021
Logo Lounge Ltd is a private company, limited by shares, registered in Scotland, registration number SC306680. The registered office is The Skyhouse , Leachkin Brae, Inverness, IV3 8PN, GB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 31 December 2020
-
16,230
9,995
26,225
Disposals
-
-
(9,995)
(9,995)
At 30 December 2021
1,000
16,230
-
17,230
At 31 December 2020
-
13,490
8,377
21,867
Charge for the year
-
2,698
-
2,698
On disposals
-
-
(8,377)
(8,377)
At 30 December 2021
-
16,188
-
16,188
At 30 December 2021
1,000
42
-
1,042
At 30 December 2020
-
2,740
1,618
4,358
Logo Lounge Ltd
Notes to the Accounts
for the year ended 30 December 2021
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2021
2020
Obligations under finance leases and hire purchase contracts
-
837
Trade creditors
4,978
5,194
Taxes and social security
4,833
2,947
Other creditors
3,684
(1,331)
7
Creditors: amounts falling due after more than one year
2021
2020
Taxes and social security
-
3,167
8
Average number of employees
During the year the average number of employees was 1 (2020: 1).
