Logik Group Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 14179405 (England and Wales)

LOGIK GROUP LIMITED

Unaudited Financial Statements

for the Period 17 June 2022 to 31 December 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D York

Mr D C Eales

Mr J A D England

Ms A Buga

Mr A Secrieriu

Mr D A Totney

REGISTERED OFFICE:

Stonebridge Golf Centre Somers Road

Meriden

Coventry

West Midlands

CV7 7PL

REGISTERED NUMBER:

14179405 (England and Wales)

ACCOUNTANTS:

Michael Dufty Partnership Limited

59-61 Charlotte Street

St Pauls Square

Birmingham

West Midlands

B3 1PX

FIXED ASSETS

Investments

4

5,466,815

CURRENT ASSETS

Debtors

5

1,249,426

CREDITORS

Amounts falling due within one year

6

189,816

NET CURRENT ASSETS

1,059,610

TOTAL ASSETS LESS CURRENT LIABILITIES

6,526,425

CREDITORS

Amounts falling due after more than one year

7

4,654,500

NET ASSETS

1,871,925

CAPITAL AND RESERVES

Called up share capital

2

Share premium

145,000

Retained earnings

1,726,923

1,871,925

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2023 and were signed on its behalf by:

Mr D York - Director

1.	STATUTORY INFORMATION

Logik Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

5,466,815

At 31 December 2022

5,466,815

NET BOOK VALUE

At 31 December 2022

5,466,815

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed by associates

1,249,425

Other debtors

1

1,249,426

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts (see note 8)

187,500

Accrued expenses

2,316

189,816

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans (see note 8)

4,584,500

Other loans (see note 8)

70,000

4,654,500

8.

LOANS

An analysis of the maturity of loans is given below:

£

Amounts falling due within one year or on demand:

Bank loans

187,500

Amounts falling due between one and two years:

Bank loans - 1-2 years

250,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

4,334,500

Other loans - 2-5 years

70,000

4,404,500